Pune, India, December, 2018 /MRFR Press Release/- Market Research Future published a half-cooked research report on global Gas insulated substation market. The Gas insulated substation market is expected to expand at ~ 19.50% CAGR during the period 2022 to 2030.
Gas insulated substation is a compact and multi-component assembly which is enclosed in a ground metallic housing. It is a significant component of power system infrastructure that uses a superior dielectric gas, and sulfur hexafluoride (SF6). 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.
Based on voltage, the market is segmented 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.
The global gas insulated substation market is expected to grow at 19.50% CAGR during the forecast period.
Market Research Analysis
Asia Pacific is estimated to be the fastest growing market for gas insulated substation.
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.
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).