Gas Insulated Substation Market Highlights
The global gas insulated substation market is
estimated to expand at ~19.5% CAGR during the forecast period. A gas insulated
substation is a substation which is structured in a sealed environment with
sulfur hexafluoride as the insulating medium. A gas-insulated substation uses a
superior dielectric gas and SF6 at moderate pressure for phase-to-phase and
phase-to-ground insulation. The major components inside the grounded metal
enclosures include high voltage conductors, circuit breaker interrupters,
switches, current transformers, and voltage transformers. These substations
find its application mainly in utilities and industries. These substations are
generally compact and are multi-component assembly. A detailed analysis report
of COVID-19
impact on Gas insulated substation Market Forecast is provided with the
report.
The growing demand for gas
insulated substation is attributed to increasing environmental concerns.
Moreover, less space in urban areas is also driving the market for gas
insulated substation. One of the major restraints of the gas insulated
substation is the lack of sufficient land infrastructure to set up new gas
insulated substations.
Industry Segmentation
The market for gas insulated
substation is segmented based on end-user as power distribution, power
transmission, power generation, infrastructure & transportation, and
industries. Power distribution segment dominates the market as gas insulated
substations create a new opportunity for power distribution utility providers
where space constraint is a challenge. These kinds of substations are compact
in size, thus overcome the major challenge of space constraint.
Leading Players
The key players of the
global gas insulated substation market are Toshiba Corporation (Japan), Siemens
AG (Germany), Fuji Electric Co. Ltd (Japan), Crompton Greaves (India), Hitachi
Ltd. (Japan), ABB Ltd. (Switzerland), Schneider Electric (France), Larsen &
Toubro (India), General Electric (US), Hyundai Heavy Industries (South Korea),
Hyosung Corporation (South Korea), and Mitsubishi Electric Company (Japan).
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Scope of the Report
This research report
provides insights into various levels of analysis, such as industry analysis
and market share analysis for the leading industry competitors, along with
their profiles. It also helps in studying the target segments by providing
views on the emerging & high-growth segments. The market data comprises the
basic assessment of the competitive scenarios and strategies in the global Gas
insulated substation market, including high-growth regions and/or countries,
and political and economic environments. The project report further provides
both – historical market values and pricing & cost analysis.
Regional Outlook
Region wise, Asia Pacific
held the largest market share of the global gas insulated substation market in
2017. It is also estimated that Asia-Pacific region would also be the fastest
growing market during the forecast period. Moreover, factors such as increased
power consumption, government mandates on energy efficiency, rising influx of
renewable resources in the energy mix, and upgradation of ageing hydropower
plants in Asia-Pacific are driving the market for global gas insulated
substation.
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