Global Gas Insulated Substation Market Overview
A gas insulated substation refers to a structured substation in a sealed environment with sulfur hexafluoride as an insulating medium. Major components of gas insulated substation consist of busbar, circuit breaker, earthing switch, current transformer, feeder disconnector, cable termination, and control panel. These substations have major applications, mainly in utilities and industries. The main advantages of the integration of gas insulated substation include higher flexibility, compact size, and reliability, lesser outages, and maintenance free. All these factors are driving the global gas insulated substation market over the forecast period.
Moreover, non-availability of sufficient space also drive the market of gas insulated substation as they require compact space. These substations find major applications in high voltage installation, urban installation, and urban infrastructure, among many others. As per the experts at Market Research Future (MRFR),the global Gas Insulated Substation Market Size is expected to register a robust CAGR of 19.50% over the forecast period.
Gas Insulated Substation Industry Segmentation:
The global gas insulated substation market is studied for a segmentation that is based on diverse aspects that are enabling better understanding of the market landscape and the reveal of intricate trends in the market. The gas insulated substation market is segmented by voltage, installation, end-user, and region.
Based on voltage, the global gas insulated substation market is segmented into medium voltage, high voltage, extra-high voltage, and ultra-high voltage.
Based on installation, the global gas insulated substation market is segmented into indoor and outdoor. The indoor segment is expected to grasp for the largest share of the gas insulated substation market over the review period.
Based on end-user, the global gas insulated substation market is segmented into power distribution, power transmission, power generation, infrastructure and transportation, and industries.
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Regional Analysis
Based on region, the global gas insulated substation market is segmented into the Middle East & Africa, Asia Pacific, Europe, North America, and Latin America.
Asia Pacific held the largest share of the global gas insulated substation market at the beginning of the forecast period. Asia Pacific is estimated to witness market dominance over the forecast period, as per the latest report by Market Research Future (MRFR). It has also been prognosticated that Asia Pacific’s gas insulated substation market is expected to gain fastest growth rate over the forecast period. Such growth can be accredited to the increased power consumption in almost all countries of the globe. Further, government mandates on the efficient use of energy has also led to higher adoption of gas insulated substations, hence, driving the regional market. A rising influx of renewable resources in the energy mix has contributed exponentially to the growth of the regional gas insulated substation market. Further, an upgradation of aging hydropower plants in Asia Pacific is also expected to drive the global gas insulated substation market.
Key Players
Some noteworthy players in the global gas insulated substation market include Toshiba Corporation (Japan), Siemeaxns AG (Germany), Crompton Greaves (India), Fuji Electric Co. Ltd (Japan), Hitachi Ltd. (Japan), Schneider Electric (France), ABB Ltd. (Switzerland), Larsen & Toubro (India), Hyundai Heavy Industries (South Korea), General Electric (US), Hyosung Corporation (South Korea), and Mitsubishi Electric Company (Japan).
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