Newark, NJ, Feb. 03, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global gas-insulated substation market is expected to grow from USD 16.7 Billion in 2017 to USD 39.3 Billion by 2025 at a CAGR of 11.3% during the forecast period 2018-2025. Increasing necessity for small and low maintenance power systems, increasing acceptance towards properties such as compatibility to fit in a building and high demand for compact power systems are the factors fuelling the gas-insulated substation market. In time of rising per hectare land value, GIS requires less space than its counterparts.
A Gas Insulated Substation (GIS) is defined as a high voltage substation in which the main structures are confined in a sealed environment with sulfur hexafluoride gas as the insulating medium. A gas-insulated substation (GIS) uses a superior dielectric gas, SF6, at moderate pressure for phase-to phase and phase-to-ground insulation. The high voltage conductors, circuit breaker interrupters, switches, current transformers, and voltage transformers are in SF6 gas inside grounded metal enclosures. The atmospheric air insulation used in a conventional, Air-Insulated Substation (AIS) requires meters of air insulation to do what SF6 can do in centimeters. GIS can therefore be smaller than AIS by up to a factor of 10. A GIS is mostly used where space is expensive or not available. In a GIS the active parts are protected from the deterioration from exposure to atmospheric air, moisture, contamination, etc.
Rising necessity for small and low maintenance power systems is a major factor driving the market. Rising per hectare land value as GIS requires less space than its counterparts and demand for compact power systems is increasing thereby stimulating the growth of the market. In addition, rising adoption towards properties such as compatibility to fit in a building is also fuelling the growth of market. Internal error may lead to undue damage which may hamper the growth of market. However, growing concerns towards safety and reliability & substation security is expected to drive market growth over the seven years.
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The major players in global gas-insulated substation market include ABB Ltd, Alstom S.A, Siemens A.G, Mitsubishi Electric Corporation, Hitachi Limited, Schneider Electric SE, Hyundai Heavy Industries Co Limited, Toshiba Corporation, Fuji Electric Co. Ltd. and Nissin Electric Co. Ltd among others.
- Major firms are incorporating various strategies to increase their market reach. . For instance, in November 2018, ABB was awarded a contract by BPC for design engineering, supply, construction, testing, and commissioning of two 5 MVA, 66/33 kV indoor gas-insulated substations in Damji, Gasa.
- Various developing countries are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share. For instance, Alstom T&D India had bagged a contract worth Rs 27.7 crore from Himachal Pradesh Power Transmission Company to supply a 66 kV gas-insulated substation (GIS) for evacuating power from new generation sources to Kinnar district in the state.
- For instance in January 2020, Siemens is going to acquire New Delhi-based C&S Electric for around Rs 2,100 crore. This is happening under ADITYA scheme which is aimed at ensuring continuous power supply to all residents which includes adopting models such as privatizing state-run power distribution companies (discoms) and having multiple supply, network and distribution franchisees. The acquisition of one of the leading providers of electrical and electronic equipment for infrastructure, transmission, power generation and distribution, will strengthen Siemens’ position as a key supplier of low-voltage power distribution and electrical installation technology in India.
The high voltage segment held the largest market share of 45.30% in 2017
The voltage segment is classified into medium voltage, high voltage and extra-high voltage. The high voltage segment is dominating the gas-insulated substation market in 2017 owing to its reliability and protection for the grid infrastructure. They are broadly used in case of critical switchyard of large power generation plants.
Outdoor segment valued around USD 10.72 Billion in 2017
Installation segment includes indoor and outdoor. Outdoor segment is dominating the market in 2017. Outdoor gas insulated substations provide reliable operations in high-voltage transmission and medium voltage, and are chosen for transmission and distribution of electricity over a long distance.
The power transmission utility segment valued around USD 5.94 Billion in 2017
The end-user segment includes power transmission utility, power distribution utility, power generation utility and others. The power transmission utility segment dominated the market in 2017. Power transmission utility is mainly driven by the addition of transmission lines which in turn leads to the addition of high voltage substations. These utilities are responsible for the transmission grid expansion, refurbishment, as well as procurement of high voltage equipment.
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Regional Segment Analysis of the Gas-Insulated Substation Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia Pacific region dominated the global gas-insulated substation market with USD 6.99 Billion in 2017 where as the North America region held the second dominant position in the market. The Asia Pacific region is expected to exhibit high growth rate owing to growing need and demand for energy in emerging economies such as China, India, Thailand, Japan, Indonesia and Vietnam. Japan was the first country to install gas insulated substations as the country has limited space for developments. North America is the growing at the fastest pace owing to increase in investment in power infrastructural development which may boost upthe market growth over the next seven years.
About the report:
The global gas-insulated substation market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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