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Gas Insulated Substation Market Trends

ID: MRFR//5546-HCR | 111 Pages | Author: Priya Nagrale| July 2024

Global Gas Insulated Substation Market Overview:

Gas Insulated Substation Market Size was valued at USD 22.1 Billion in 2022. The Gas Insulated Substation market industry is projected to grow from USD 24.19 Billion in 2023 to USD 50.02 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.26% during the forecast period (2023 - 2032). Increasing the amount of sustainable assets in the energy mix and upgrading hydropower facilities are the key market drivers enhancing the market growth.

Gas Insulated Substation Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Gas Insulated Substation Market Trends

  • Growing use of renewable resources is driving the market growth

Market CAGR for gas insulated substation is being driven by the rising renewable resources. Many government subsidies aid the spread of renewable energy in more than 130 nations, ambitious national net-zero objectives, and increased solar PV and wind energy competitiveness. As a result of China's commitment to being carbon neutral by 2060, additional short-term objectives have been set, such as producing 1,200 GW of total renewable energy capacity by 2030. According to projections, the quantity of renewable energy in the European Union is expected to exceed that forecast by the current National Energy and Climate Plans (NECPs) in 2030. In many aspects, GIS is preferable to a conventional substation. First, compared to typical open substation equipment, the failure rate of GIS is orders of magnitude lower, and its maintenance cycle may be prolonged. The potential duration for GIS A typical maintenance cycle for a substation lasts between 20 and 25 years. GIS hardware installation is simple. Normally, it is constructed in the factory and shipped directly to the location; no extra assembly is required. As a result, GIS equipment has grown to be a crucial part of electrical systems in substations, opening up a substantial market. Several growth drivers influence the market for gas-insulated switchgear to invest in transmission and distribution networks. Investment in transmission and distribution networks is significantly influenced by the expanding global energy consumption fueled by population expansion and industrial development. GIS systems play a critical role in effectively transmitting and distributing energy, guaranteeing a consistent power supply across numerous industries.

The rising use of renewable energy sources like wind and solar requires a reliable transmission and distribution infrastructure. GIS systems make it possible to regulate power flow, adjust voltage, and ensure grid stability while integrating renewable energy into the grid. Investments in GIS infrastructure are anticipated to expand as governments worldwide work to improve their capacity for renewable energy. Energy conservation and sustainability are actively promoted by governments worldwide as part of their larger efforts to combat climate change and safeguard the environment. Advanced GIS systems and other smart grid technology enable more effective power transmission and distribution, lowering energy losses and enhancing grid efficiency. Government programs incentivize utilities and stakeholders to invest in cutting-edge smart grid systems to meet energy efficiency and environmental goals. Thus, driving the Gas Insulated Substation market revenue.

Gas Insulated Substation Market Segment Insights:

Gas Insulated Substation Voltage Insights

Based on voltage, the Gas Insulated Substation Market segmentation includes medium, high, extra-high, and ultra-high. The high segment dominated the market, accounting for 35% of market revenue. The market's expansion may be credited to its dependability and defense of grid infrastructure. They are mostly utilized in large power production plants' crucial switchyards. Substations with high voltage transmission grids that are mostly gas-insulated are of the indoor variety.

Gas Insulated Substation Installation Insights

Based on the installation, the Gas Insulated Substation Market segmentation includes indoor & outdoor. The outdoor segment dominated the market because of its many benefits. They are incredibly dependable in transmitting power over great distances when used for medium and high-voltage applications. Additionally, it can withstand extreme climatic conditions, which is crucial for effective operation.

Gas-Insulated Substation End User Insights

Based on End User, the Gas Insulated Substation Market segmentation includes power distribution, transmission, generation, and infrastructure. The power distribution generated the most income. Massive urbanization and industry have continuously raised the need for a small substation and a dependable power supply. The operating and maintenance costs of a gas-insulated substation (GIS) are relatively low. The market for gas-insulated substations is anticipated to rise due to several energy-intensive industrial applications focusing on acquiring dependable and efficient substations. Sulfur hexafluoride (SF6) gas consumption results in greenhouse gas emissions, which is predicted to slow the market's growth for gas-insulated substations. The installation cost of the GIS is also rather expensive compared to air-insulated substations.

Figure 1: Gas Insulated Substation Market, by End User, 2022 & 2032 (USD Billion)

Gas Insulated Substation Market, by End User, 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Gas Insulated Substation Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. Due to a rise in people using cardiovascular devices and obesity, the North American Gas Insulated Substation market will rule this industry. The rising number of well-established health clubs and fitness centers will also aid the expansion of the industry in this area.

Hence, the major countries studied in the market report are The US, Canada, the UK, Italy, Spain, China, German, France,  Japan, India, Australia, South Korea, and Brazil.

Figure 2: Gas Insulated Substation Market Share By Region 2022 (USD Billion)

Gas Insulated Substation Market Share By Region 2022

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe has the second-largest market share for Gas Insulated Substations. To prevent losses, Europe is investing in improving the total effectiveness of electric power generation, transmission, and distribution. Many businesses are buying their substations for dependable and effective power transmission, which might significantly boost the market for gas-insulated substations. Furthermore, the German Gas Insulated Substation market dominated, while the UK Gas Insulated Substation market grew fastest in Europe.

From 2023 to 2032, the Asia-Pacific Gas Insulated Substation Market will develop quickly due to its rapid urbanization, industrialization, and population growth. The need for a reliable power source is therefore great. Many nations are investing in the transmission and distribution of renewable energy to meet these needs. Furthermore, China's Gas Insulated Substation market had the highest market share, while India's was the fastest expanding in the Asia-Pacific region.

Gas Insulated Substation Key Market Players & Competitive Insights

Leading market companies are extensively spending R&D on increasing their product lines, which will help the Gas Insulated Substation market grow even more. Important market developments include new product releases, contractual agreements, acquisitions and mergers, greater investments, and collaboration with other organizations. The Gas Insulated Substation industry must produce cost-effective merchandise to flourish and thrive in a more competitive and increasing market climate.

Manufacturing locally to reduce operating costs is an effective business strategy manufacturers use in the worldwide Gas Insulated Substation industry to serve clients and expand the market sector. The Gas Insulated Substation industry has provided some of the most important benefits recently. E. ON, J. Murphy & Sons Limited and other major competitors in the Gas Insulated Substation market are seeking to improve market demand by investing in R&D efforts.

Founded in 1951, J. Murphy & Sons Limited is a renowned, multi-disciplined engineering and construction business that provides top-notch infrastructure to enhance quality of life. Murphy offers superior engineering solutions to infrastructure sectors such as transport, water, electricity, natural resources, and building and property in the UK, Ireland, and Canada. With their main office in London, we also operate various affiliated companies, including Murphy Process Engineering, Ground Engineering, Utility Connections, Murphy Plant, Highways & Streetworks, Specialist Welding Services, and Electrical Services. They spend extensively in our sizable holding of plant, equipment, and facilities and are experts in providing pipelines, design, marine, structural steel, tunneling, fabrication, bridges, and piling. More than 3,500 engineers, qualified workers, and experienced managers are employed by Murphy globally. In April 2019 A new power substation in Barking, London, will be designed and constructed by the London-based engineering company J. Murphy & Sons Ltd. under a contract with National Grid. The substation's design and construction and the installation of new cables to link it to the national electricity grid are all included in the contract's more than $31 million worth of work.

A worldwide energy corporation with investor ownership, E.ON focuses on customer service and energy networks. E. ON, one of the biggest energy firms in Europe, is a key player in establishing a clean, digital, decentralized energy future. For this reason, more than 75,000 workers create and market goods and services for individual, business, and industrial clients and towns and municipalities. In January 2019, A start-up business focused on producing gas-insulated switchgear with dry air to provide environmental benefits, Nuventura has received investments from the VC Fund Technologies, Berlin and the utility firm E.ON, with headquarters in Germany.

Key Companies in the Gas Insulated Substation market include

  • 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)

  • Mitsubishi Electric Company (Japan)

Gas Insulated Substation Industry Developments

In June 2023, Thangam Thennarasu, the finance and electricity minister, examined the development of the digital gas-insulated substations of Tangedco under construction in Taramani and Tiruvanmaiyur in the second week. The 230/33KV digital gas-insulated substation in Tiruvanmaiyur is being deployed at a price of nearly Rs 92.55 crore, and the present sub-station in Taramani is converted as the gas-insulated substation at a cost of Rs 708 crore. Gas-insulated substations are more effective than regular substations as the insulators are kept in-house and insulated by the gas SF6 compared to the usual substations where the insulators are exposed and susceptible to flashing, leading to power cuts. For the first time in the state, a digital gas-insulated substation occupying less space than conventional ones are being set up. After the contracting of the sub-stations, nearly four lakh consumers in areas such as Taramani, Tiruvanmiyur, Perungudi, Velachery, Besant Nagar, Injambakkam, Kottivakkam, and Gandhi Nagar will get uninterrupted power supply.June 2023- The Uttar Pradesh Cabinet has authorized a gas-insulated substation (GIS) of 400 kV capacity in Sector-28, off the Yamuna Expressway. It is projected to supply power to upcoming regional projects such as the medical device park, data center, film city, electronics manufacturing cluster, and other industrial units. The (GIS) will be developed at Rs 140 crore, and the primary stage of the substation involving 220 kV capacity, including the 33/11 kV line bifurcations, will be backed by the Yamuna Expressway Industrial Development Authority (YEIDA). The primary stage is anticipated to be finished by the end-2025 and will be a long-term facility that will be functional for 35 years. Once operational, these will generate nearly 500 MW of power supply.

March 2023: Customers will receive consistent electricity thanks to the Kerala State Electricity Board's (KSEB) first 220 kV gas-insulated substation in north Malabar.The 110 kV substation in Paramkunnu in Kathirur panchayat is next to the indoor substation. The Kerala Infrastructure Investment Fund Board (KIIFB) provided funding for the substation's construction as part of the Trans Grid 2.0 project. The substation includes two 110/11 kV transformers with a 20 MVA capacity and two 220/110 kV transformers with a 100 MVA capacity each.

March 2022 GE Renewable Energy's Grid Solutions (NYSE-GE) announced the first 420 kV, 63 kA g3 gas-insulated substation (GIS) circuit-breaker prototype globally, marking a significant milestone for the power sector. The g3 circuit-breaker was introduced to a group of top transmission utilities from throughout Europe at a recent virtual roundtable discussion. Because of the prototype's success, a marketable SF6-free replacement for high-voltage goods will soon be available. Commercial availability of GE's 420 kV fully g3 gas-insulated substation (GIS), which incorporates the g3 circuit-breaker, is anticipated for 2023.

Gas Insulated Substation Market Segmentation:

Gas Insulated Substation Voltage Outlook

  • Medium

  • High

  • Extra-High

  • Ultra-High

Gas Insulated Substation Installation Outlook

  • Indoor

  • Outdoor

Gas Insulated Substation End User Outlook

  • Power Distribution

  • Transmission

  • Generation

  • Infrastructure

Gas Insulated Substation Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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