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Gas Insulated Substation Market Scenario
The Gas insulated substation market is expected to expand at 19.50% CAGR during the period 2018 to 2023.
Global gas insulated substation market is expected to witness a high growth during the forecast period due to increasing investments in T&D sector and rising energy demand of energy & limitation of space. The major component of gas insulated substation consists 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.
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Moreover, factor such as non-availability of sufficient space also drives 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.
Gas Insulated Substation Market Segmental Analysis
Global gas insulated substation market has been segmented based on installation, voltage, end-user, and region.
Based on installation, the market is segmented in to indoor and outdoor. Indoor segment is estimated to account for the largest share during the forecast period. The low maintenance of gas insulated substation minimizes the substation’s space requirement by as much as 70%, enabling it to be installed indoors, especially in urban areas. This would further drive the market of indoor gas insulated substation segment.
Based on voltage, the gas insulated substation market has been classified into medium voltage, high voltage, extra-high voltage, and ultra-high voltage. Medium voltage gas insulated substation segment dominates the market due to rapid improvement in the power distribution sector through the implementation of smart grid and smart metering technologies. Moreover, these substations are majorly used in distribution sector where space is a big issue. Therefore, the compact design of gas insulated substation allows the best utilization of space and offers most efficient and economical solutions to the end-users.
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).
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.
Scope of the Report
This report provides an in-depth analysis of the global gas insulated substation market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the gas insulated substation market by its voltage, installation, end-user, and by region.
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List Of Tables
Table 1 Global Gas Insulated Substation Market: By Region, 2018–2023
Table 2 North America: Gas Insulated Substation Market: By Country, 2018–2023
Table 3 Europe Gas Insulated Substation Market: By Country, 2018–2023
Table 4 Asia-Pacific Gas Insulated Substation Market: By Country, 2018–2023
Table 5 Middle East & Africa Gas Insulated Substation Market: By Country, 2018–2023
Table 6 South America Gas Insulated Substation Market: By Country, 2018–2023
Continued……
List Of Figures
Figure 1 Research Process Of MRFR
Figure 2 Top-Down & Bottom-Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter's Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Gas Insulated Substation Market Share, By Voltage, 2017 (%)
Figure 9 Global Gas Insulated Substation Market, By Voltage, 2018–2023 (USD Million)
Continued…..
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