Thu. Dec 8th, 2022

Global Gas Insulated Substation Market was Worth US$23,751.9 Mn in 2020 and is Expected to Reach US$36,627.0 Mn by 2025

/EIN News/ — London, June 29, 2022 (GLOBE NEWSWIRE) — London, UK, June 29, 2022 – Fairfield Market Research states that the demand for gas insulated substation (GIS) market is expected to grow at a steady pace between the forecast years of 2021 and 2025. The market was valued at US$ 3,751 Mn in 2020 and is expected to reach US$36,627 Mn in 2025. This rise will be attributable to the small and optimal design of GIS systems, which make them ideal for limited spaces. Between the forecast years of 2021 and 2025, the global market is poised to register a CAGR of 9%. Rise of renewable power generation due to ongoing global energy crisis will boost the market.

Key Highlights:

  • Investments in gas insulated substations with growing demand for renewable power to drive global market
  • gas insulated substation equipment constitutes more than 47% of the overall cost in GIS switchyard. Electricity, transport, civil, erection, and commissioning add up to other costs
  • Investments in gas insulated substation installation are 25%-30% higher as compared to air insulated substation (AIS), which may act as a hurdle
  • The COVID-19 pandemic has significantly reduced demand for electricity in the commercial and industrial sectors hampering investments in GIS facilities.

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Cities Show Higher Approval for Gas Insulated Substations

The demand for gas insulated substations (GIS) Market is expected to soar in the urban areas during the forecast period as they occupy less space. Reduction in urban spaces due to drastic changes in migratory patterns is expected to stoke the demand for gas insulated substation. According to the report, GIS takes up 33% lesser space than air insulated substation (AIS), which is expected to bode well for the market during the forecast period.

Asia Pacific Paves the Way

Geographically, Asia Pacific is expected to retain a lead in the global gas insulated substation market. The growing demand for consistent electricity generation, transmission, and distribution in the emerging economies of India and China is expected to give the regional market a boost. The report predicts Europe and North America will follow lead as companies such as GE are expanding their product portfolio to GIS solutions for industrial purposes outside North America.

Some of the key players operating the global gas insulated substation market are GE, ABB Ltd., Toshiba Corporation, Siemens AG, Nissin Electric Co., Hyundai Heavy Industries, Mitsubishi Heavy Industries, Ltd., LARSEN & TOUBRO LIMITED, Nissin Electric Co., Ltd., and Hitachi, Ltd.

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REPORT SCOPE & SEGMENTATION:

REPORT FEATURESDETAILS
Voltage Coverage
  • Medium (≤ 72.5 KV)
  • High (> 72.5 KV)
Type Coverage
End-use Coverage
Geographical Coverage
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW)
Leading Companies
  • Siemens AG
  • Toshiba Corporation
  • Eaton Corporation
  • ABB Ltd.
  • GE
  • Mitsubishi Heavy Industries, Ltd.
  • Hyundai Heavy Industries
  • Nissin Electric Co., Ltd.
  • LARSEN & TOUBRO LIMITED
  • Hitachi, Ltd.
Report HighlightsKey Market Indicators, Macro-micro economic impact analysis, Technological Roadmap, Key Trends, Driver, Restraints, and Future Opportunities & Revenue Pockets, Porter’s 5 Forces Analysis, Historical Trend (2017-2019), Price Trend Analysis- 2019-2025, Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Category, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain)

Table of Contents:

1. Executive Summary
      1.1. Global Gas Insulated Substation (GIS) Market Snapshot
      1.2. Future Projections
      1.3. Key Market Trends
      1.4. Analyst Recommendations

2. Market Overview
      2.1. Market Definitions and Segmentations
      2.2. Market Dynamics
            2.2.1. Drivers
            2.2.2. Restraints
            2.2.3. Market Opportunities
            2.2.4. Economic Trends
      2.3. Value Chain Analysis
      2.4. SWOT Analysis
      2.5. Porter’s Five Forces Analysis
      2.6. Covid-19 Impact 
            2.6.1. Supply Chain
            2.6.2. End-user Customer Impact Analysis

3. Gas Insulated Substation- Cost Breakup Analysis

4. Global Gas Insulated Substation (GIS) Market Outlook, 2017 – 2025
      4.1. Global Gas Insulated Substation (GIS) Market Outlook, by Source, Value (US$ Mn), 2017 – 2025
            4.1.1. Key Highlights
                  4.1.1.1. Medium (≤ 72.5 KV)
                  4.1.1.2. High (> 72.5 KV)
            4.1.2. BPS Analysis/Market Attractiveness Analysis, by Source
      4.2. Global Gas Insulated Substation (GIS) Market Outlook, by Type, Value (US$ Mn), 2017 – 2025
            4.2.1. Key Highlights
                  4.2.1.1. Indoor
                  4.2.1.2. Outdoor
            4.2.2. BPS Analysis/Market Attractiveness Analysis, by Type
      4.3. Global Gas Insulated Substation (GIS) Market Outlook, by End-use, Value (US$ Mn), 2017 – 2025
            4.3.1. Key Highlights
                  4.3.1.1. Utility
                  4.3.1.2. Non-utility
            4.2.2. BPS Analysis/Market Attractiveness Analysis, by End-use
      4.4. Global Gas Insulated Substation (GIS) Market Outlook, by Region, Value (US$ Mn), 2017 – 2025
            4.4.1. Key Highlights
                  4.4.1.1. North America
                  4.4.1.2. Europe
                  4.4.1.3. Asia Pacific
                  4.4.1.4. Rest of the World
            4.4.2. BPS Analysis/Market Attractiveness Analysis, by Region

TOC Continued…!

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Article originally published at https://www.einpresswire.com/article/579005546/global-gas-insulated-substation-market-to-register-9-cagr-2021-2025-as-demand-for-renewable-energy-surges

originally published at Science - Reality Syndicate Viewers

This news story originally appeared at Science - Reality Syndicate Viewers on 30 June 2022