Gas-Insulated Substation Market

A gas insulate substation is a high voltage substation in which the major structures are contained in a sealed environment with sulfur hexafluoride gas as the insulating medium. The gas-insulated substations provide various benefits such as required reduced space, is less sensitive to pollution, and has a lower operational and maintenance cost.

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The significant factors responsible for the growth of the global gas-insulated substation market include continuous growth in renewable power generation, followed by the rising investments in the transmission & distribution infrastructure. Moreover, the strong demand for energy and limitations of space availability in densely populated urban areas is further surging the growth of the market in the coming years. This is mainly due to the changing lifestyle and rising per capita disposable income of the end-users. In addition to this, the rising necessity for small and low maintenance power systems is projected to remain a key driver for the market growth in coming years.

The significant increase in per hectare land value will drive the demand for gas-insulated substations as these stations need 90% less land as compared to the other power stations. There has been an upsurge in demand for the compact power system as they allow flexibility to operate in a harsh environment such as arctic and desert. Additionally, the rising focus on safety and reliability & substation security is further encouraging the end-users to opt for gas-insulated substation market. The introduction of smart cities has increased the installation of gas insulate substation as it is compact in nature and offers high efficiency. For example, GIFT, an upcoming smart city in Gujarat, India, plans to establish underground cables for power distribution through gas subsidiary stations to provide the city with sub-transmission within buildings and colonies for maximum power efficiency. However, on the other hand, the high cost of the gas-insulated substation as compared to the traditional power stations is a major factor that is projected to hamper the growth of the market. The internal fault might lead to excessive damage, which is further hampering the growth of the market.

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Based on the voltage type, the high voltage segment is anticipated to grow at a higher CAGR during the forecast period. This is mainly due to the numerous benefits offered by the high voltage such as higher reliability and protection for the grid infrastructure. They are widely used in the case of critical switchyard of large power generation plants. Moreover, the refurbishment of the old power transmission infrastructure in the developed economies of Europe and North America, which will further surge the demand for high voltage substations.

On the basis of end-user, the power transmission utility segment is projected to witness a faster CAGR in the next six years. This is attributed to the addition of transmission lines, which has surged to the addition of high voltage substations. The gas-insulated switchgear has an important role in the grid protection and efficient flow of power, as well as protection and relaying of the transmission circuit.

Based on the installation, the outdoor segment is predicted to lead the market during the forecast period. The outdoor gas insulated substations offer reliable operations in the high-voltage transmission and medium voltage and are widely used for the transmission and distribution of electricity over a long distance.

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Based on the region, Asia-pacific region is projected to dominate the market over the forecast period. The rising power consumption, government mandates on energy efficiency, and the growing influx of renewable sources in the energy mix, are the major drivers that are responsible for the growth of the market in this region. In addition to this, the upgradation of aging hydropower plants is another factor that is surging the growth of the gas-insulated substation industry in the region.

Various notable players operating in the market include Hitachi, Ltd., General Electric, ABB, Mitsubishi Electric Corporation, Toshiba Energy Systems & Solutions Corporation, L & T Construction, Siemens Energy, Hyosung Heavy Industries, Bharat Heavy Electricals Limited, and TBEA, among others. 

Key Developments: 

• • In 2020, Hitachi, Ltd., launched a joint venture company named as, “Hitachi ABB Power Grids”. The new company is projected to offer financial muscle to support ambitious projects and new business opportunities as the sector embraces decentralization and digitalization.

The global Gas-Insulated Substation Market has been segmented on the basis of voltage, installation, end-user, and key regions. Based on voltage, the market is segmented into medium voltage, high voltage, and extra high voltage. Based on installation, the market is segmented into indoor and outdoor. Based on end-user, the market is segmented into power transmission utility, power distribution utility, power generation utility, and other. 

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Key questions answered in this research report:

• • At what pace is the global Gas-Insulated Substation Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the Gas-Insulated Substation Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Gas-Insulated Substation Market?
  • Which end user generated maximum revenues in 2019 and identify the most promising end users during the forecast period?
  • What are the various installation areas of the global Gas-Insulated Substation Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Gas-Insulated Substation Market by Voltage

• • Medium voltage
  • High Voltage
  • Extra High Voltage

Global Gas-Insulated Substation Market by Installation

• • Indoor
  • Outdoor

Global Gas-Insulated Substation Market by End-User

• • Power transmission utility
  • Power distribution utility
  • Power generation utility
  • Other

Global Gas-Insulated Substation Market by Region

• • North America Gas-Insulated Substation Market (Option 1: As a part of the free 25% customization)
    • North America Gas-Insulated Substation Market by Voltage
    • North America Gas-Insulated Substation Market by Installation
    • North America Gas-Insulated Substation Market by End-User
    • US Gas-Insulated Substation Market All-Up
    • Canada Gas-Insulated Substation Market All-Up
  • Europe Gas-Insulated Substation Market (Option 2: As a part of the free 25% customization)
    • Europe Gas-Insulated Substation Market by Voltage
    • Europe Gas-Insulated Substation Market by Installation
    • Europe Gas-Insulated Substation Market by End-User
    • UK Gas-Insulated Substation Market All-Up
    • Germany Gas-Insulated Substation Market All-Up
    • France Gas-Insulated Substation Market All-Up
    • Spain Gas-Insulated Substation Market All-Up
    • Rest of Europe Gas-Insulated Substation Market All-Up
  • Asia-Pacific Gas-Insulated Substation Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Gas-Insulated Substation Market by Voltage
    • Asia-Pacific Gas-Insulated Substation Market by Installation
    • Asia-Pacific Gas-Insulated Substation Market by End-User
    • China Gas-Insulated Substation Market All-Up
    • India Gas-Insulated Substation Market All-Up
    • Japan Gas-Insulated Substation Market All-Up
    • Rest of APAC Gas-Insulated Substation Market All-Up
  • RoW Gas-Insulated Substation Market (Option 4: As a part of the free 25% customization)
    • RoW Gas-Insulated Substation Market by Voltage
    • RoW Gas-Insulated Substation Market by Installation
    • RoW Gas-Insulated Substation Market by End-User
    • Brazil Gas-Insulated Substation Market All-Up
    • South Africa Gas-Insulated Substation Market All-Up
    • Saudi Arabia Gas-Insulated Substation Market All-Up
    • UAE Gas-Insulated Substation Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Gas-Insulated Substation Market All-Up

Major Players Operating in the Gas-Insulated Substation Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Hitachi, Ltd.
  • General Electric
  • ABB
  • Mitsubishi Electric Corporation
  • Toshiba Energy Systems & Solutions Corporation
  • L & T Construction
  • Siemens Energy
  • Hyosung Heavy Industries
  • Bharat Heavy Electricals Limited
  • TBEA