A new market study, titled “Global Gas insulated substation Market Size, Status and Forecast 2020-2023” has been featured on Market Research Future.
Global Gas Insulated Substation Market Scenario
The global gas insulated substation market was analyzed by Market Research Future (MRFR) and it was projected that an impressive CAGR of 19.50% will be attained by the market over the forecast period of 2018 to 2023. The valuation of the gas insulated substation market was further stated to surpass its previous valuation by the end of the forecast period.
The major component of gas insulated substation consist of busbar, circuit breaker, earthing switch, current transformer, feeder disconnector, cable termination, and control panel. The main advantages of gas insulated substation include compact size, high flexibility and reliability, less outages, and maintenance free. Moreover, factor such as non-availability of sufficient space also drive the market of gas insulated substation which requires very compact space. These substations find their application in high voltage installations, urban installation, and urban infrastructure, among others.
Also Read: http://www.marketwatch.com/story/covid-19-pandemic-impact-on-gas-insulated-substation-market-size-share-analysis-2020-business-trends-growth-opportunities-scope-stake-progress-demand-and-forecast-to-2023-2020-07-29
Industry Highlights
Gas insulated substation is referred to as a compact and multi-component assembly, one which is enclosed in a ground metallic housing. The gas insulated substation consists of major components like feeder disconnector, earthing switch, busbar, circuit breaker, cable termination, current transformer, and control panel. The primary advantages of such substations are its reliability, compact size, free of maintenance, less outages, and high flexibility. The market is driven by the non-availability of sufficient space as gas insulated substation requires compact space. These substations have applications in urban infrastructure, high voltage installations, and urban installations.
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.
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.
Competitive Landscape
The global gas insulated substation market comprises a host of key players. This includes names like ABB Ltd. (Switzerland), Toshiba Corporation (Japan), Crompton Greaves (India), Hyundai Heavy Industries (South Korea), Siemens AG (Germany), Hyosung Corporation (South Korea), Fuji Electric Co. Ltd (Japan), Larsen & Toubro (India), Hitachi Ltd. (Japan), Schneider Electric (France), Mitsubishi Electric Company (Japan), General Electric (US), and others.
Global Gas Insulated Substation Market Segmentation:
The global gas insulated substation market has been segmented in terms of voltage, end-user, and installation.
By Voltage
Medium Voltage
High Voltage
Extra High Voltage
Ultra-High Voltage
By Installation
By End-User
By Regions
North America
Asia-Pacific
Europe
Middle East & Africa
South America
Regional Analysis
The global gas insulated substation market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
Regionally, Asia Pacific leads the global gas insulated substation market as per the 2017 study. The regionally market is expected to continue its lead over the market during the forecast period as well. Factors like government mandates on energy efficiency, upgradation of ageing hydropower plants, increasing consumption of power and rising influx of renewable resources in the energy mix are all contributing to the growth of the Asia Pacific regional market. The North American region stands second in the global gas insulated substation market and is anticipated to retain the positioning over the forecast period.
Industry Buzz:
· July 2019, the Nigerian government has inked down a partnership agreement on Nigeria Electrification Roadmap (NER) with Siemens AG, a leading German automation company, in order to upgrade the power transmission & distribution infrastructure of the country that is facing major power supply issues. The deal will see close to 7000 megawatts being generated by Siemens by 2021.
· June 2019, construction work began for the first-ever gas insulated power station in Ranchi, India. Projected to take 18 months to build the substation, the gas insulated power station will be constructed with the help of the latest technologies.
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