Gas Insulated Substation
Market – Overview
The escalation in demand
for high voltage energy is expected to boost the growth of the gas insulated
substation market 2020. The understanding of the industry of energy and power
are put forth by Market Research Future, which concentrates on reports on industry
verticals that review the market options for growth. A 19.50% CAGR is expected
to guide the market in maintaining its growth trajectory.
The increased government
push towards sustainable and eco-friendly policies is estimated to have a
positive impact on the gas insulated substation market. The gas insulated
substation industry is expected to be bolstered by the benefits offered by gas
insulated substations such as low maintenance costs particularly in the coming
period.
Segmental Analysis
The segmentation of the Gas
Insulated Substation Market has been segmented on the basis of
installation, voltage, end-user, and region.
On the basis of voltage,
the gas insulated substation market has been segmented into medium voltage,
extra-high voltage, high voltage, and ultra-high voltage.
On the basis of
installation, the gas insulated substation market is divided into indoors and
outdoors.
On the basis of
end-users, the gas insulated substation market has been segmented into
infrastructure transmission, power distribution and generation.
On the basis of region,
the market for gas insulated substation has been segmented into APAC, Europe,
North America and rest of the global regions.
Regional Analysis
The regional study of the
gas insulated substation market comprises of regions such as Europe, APAC,
North America and rest of the global regions. In the duration of the forecast,
the gas insulated substation market is anticipated to observe a soaring growth
rate throughout the forecast period owing to growing investments in the T&D
sector and the intensifying demand of energy and the limitation of space. It
has also been projected that the Asia Pacific region would also be the fastest
rising market throughout the forecast period. Furthermore, the factors such as
augmented power use, government regulations on energy efficiency, augmented
availability of renewable resources in the energy portfolio, and upgrades of
older hydropower plants in the Asia Pacific region are motivating the market
for gas insulated substation.
Competitive Analysis
The upturn in the
performance of domestic markets is expected to have a favorable impression on
the growth of the market. The ability to successfully satisfy the demand forces
will require the industry to excel in several areas. the variation of the
workforce can enable the successful implementation of growth strategies in the
market. It is also noted that the cooperation by the governments around the
world in terms of relaxation of several barriers and the institution of constructive
strategies is expected to put the market on a track for unparalleled
development. The limitations in the market are constantly being studied so that
breakthroughs to remove them can be undertaken. The need to keep the market
practices in sync with the environmental concerns that are looming is expected
to promote the overall sustainability of the market.
The strategic companies
operating in the gas insulated substation market are Siemens AG (Germany),
Schneider Electric (France), Fuji Electric Co. Ltd (Japan), Toshiba Corporation
(Japan), Crompton Greaves (India), Hitachi Ltd. (Japan), Hyundai Heavy
Industries (South Korea), ABB Ltd. (Switzerland), Larsen & Toubro (India),
General Electric (US), Hyosung Corporation (South Korea), and Mitsubishi Electric
Company (Japan).
Access Full Report at: https://www.marketresearchfuture.com/reports/gas-insulated-substation-market-7011
Industry Updates:
Dec 2019 In India, four
new power substations will be put into operation in the first quarter of 2020.
The power substations once operational, will help improve the power situation,
especially in the summer months. As a part of this program in October, a 400 kV
gas-insulated substation (GIS) was built in Sector 148 which has been since
been energized to meet the energy needs.
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