Gas Insulated Substation Market Share, Current Trends, Worldwide Overview, Size, Sales Revenue, Prominent Players, Opportunities and Regional Forecast to 2023

Global Gas Insulated Substation Market to Gain a Projected CAGR of 19.50% During Period 2018 to 2023, Gas Insulated Substation Industry is expected to witness a high growth due to increasing investments in T&D sector and rising energy demand of energy & limitation of space.

Pune, India - August 13, 2019 /MarketersMedia/ —

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.

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.

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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.

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.

Market Segmentation

The global gas insulated substation market has been segmented in terms of voltage, end-user, and installation.

By voltage, the market is segmented into high voltage, extra-high voltage, medium voltage, and ultra-high voltage. The medium voltage gas insulated substation segment holds the dominant position in the global gas insulated substation market. The segment enjoys a majority of the market share due to the fast-paced improvement in the power distribution sector with the implementation of smart metering and smart grid technologies. Add to this, these substations are majorly used in the distribution industry, wherein space is a major issue.

By installation, the market divides into outdoor and indoor segments. The indoor segment is expected to enjoy the highest share in the global market over the forecast period. The low maintenance requirement of gas insulated substation reduces the space requirement of the substation by as much as 70%, thereby enabling it to be installed indoors, especially in the urban areas. This is majorly driving the indoor segment of the gas insulated substation market.

By end-users, the market includes power distribution, generation, transmission, and infrastructure.

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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