Gas Insulated Substation Market will reach US$ 35.83 Bn, at CAGR of 10.31% By 2024.

This research study analyzes the gas insulated substation market in terms of revenue (US$ Bn). The market has been segmented on the basis of voltage and geography. For the research, 2015 has been taken as the base year, while all forecasts have been given for the period from 2016 to 2024. Market data for all the segments has been provided at the regional and country level from 2015 to 2024. The report provides a broad competitive analysis of companies engaged in the gas insulated substation business. The report also includes the key market dynamics such as drivers, restraints, and opportunities affecting the gas insulated substation market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive industry analysis of gas insulated substations with the help of Porter’s Five Forces model. This analysis helps in understanding the five major forces that affect the market structure and profitability of the gas insulated substation market. The forces analyzed are bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.

According to this report, the gas insulated substation market revenue stood at US$ 14.75 Bn in 2015 and is projected to reach US$ 35.83 Bn by 2024 at a CAGR of 10.31% from 2016 to 2024.

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The high-level analysis in the report provides detailed insights into the gas insulated substation business in the U.S. There are currently numerous drivers of the market. One of the most prominent drivers is the compact size and reliability of gas insulated substations. Market attractiveness analysis was carried out for the gas insulated substation market on the basis of revenue realization and industrial growth. Market attractiveness was estimated on the basis of common parameters that directly impact the market in different regions.

The gas insulated substation market was analyzed across four regions: North America, Europe, Asia Pacific, and Rest of World. These regions are further segmented by country and voltage of installed gas insulated substations globally. Voltage range (0 to 72.5 Kv and above 72.5 Kv) has been provided for each country and region. Regional data has been provided for each sub-segment of the gas insulated substation market. Some of the key manufacturers of gas insulated substations are ABB Group, Eaton Corporation Plc., Fuji Electric Co., Ltd., General Electric Company, Hitachi, Ltd., Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, Crompton Greaves Limited, and Toshiba Corporation. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.

Gas Insulated Substation Market: By Region

• North America
• Europe
• Asia Pacific
• Rest of World

Gas Insulated Substation Market: By Voltage

• Medium (≤ 72.5 KV)
• High (> 72.5 KV)

Increasing Demand for Energy in Developing Economies to Propel Gas Insulation Substation Market

A substation is a collection of equipment installed for controlling the distribution and transmission of electric power. A global gas insulation substation market is a type of electrical substation and has sulfur hexafluoride (SF6) gas as its insulating medium. GIS are much more efficient as well as reliable as compared to their counterparts, including air insulated substations.

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The key components utilized in the assembly of GIS include circuit breakers, bus bars, earthing switches, disconnectors, feeder disconnectors, control panels, and voltage transformers. The increasing energy demand in developing economies owing to the shift in lifestyles, increasing environmental concerns, and the rising per capita disposable incomes globally are amongst the chief factors fuelling the market for gas insulation substations. In addition, the increasing popularity of GIS due to their ease of use in big buildings is also predicted to augment the growth of the market. GIS is broadly utilized in urban installations, indoor installations, high-voltage installations, and environmentally sensitive installations, among others.

Rising Demand for Compact Power Systems to Boost Gas Insulation Substation Market

GIS has a number of benefits over conventionally used substations. GIS take up minimal space in comparison to traditionally utilized air insulation substations. In urban areas where there is a shortage of land, gas insulated substations can be installed within small areas. Hence, the rising demand for compact power systems and the soaring cost of land will also stimulate the gas insulation substation market. In addition, the sulfur hexafluoride gas utilized in GIS has great dielectric properties and thus acts as an insulating medium in extra-high-voltage and high-voltage substation equipment. Furthermore, the operational as well as maintenance cost involved in the use of sulfur hexafluoride gas is low, thus boosting the growth of the market for gas insulation substations.

Asia Pacific GIS Market Held Largest Share of 54% in 2015

In terms of geography, the gas insulation substations market is segmented into Europe, Asia Pacific, North America, and Rest of the World (RoW). Amongst these, in 2015, the region of Asia Pacific held the largest share of 54% in the market. Within this region, China led the market on the basis of revenue and was trailed by India. On the other hand, the Europe gas insulation substation market emerged as the second largest market and was trailed by North America, which emerged as the third largest market.

Within North America, Canada and the U.S. emerged as key countries on the basis of revenue in 2015. The regional segment of RoW is predicted to experience exponential growth in the coming years due to the development of the processing and manufacturing sectors as well as the rising demand for electricity within this region. On the other hand, the gas insulation substation market within Gulf Cooperation Council (GCC) countries is anticipated to rise at the greatest CAGR from 2016 to 2024.

The chief players operating in the gas insulation substation market are Eaton Corporation Plc, Fuji Electric Co., Ltd., ABB Group, General Electric Company, Mitsubishi Electric Corporation, Hitachi, Ltd., Schneider Electric SE, Crompton Greaves Limited, Toshiba Corporation, and Siemens AG, among others.

Gas Insulated Substation Market Driven by Need for High Efficiency in Power Distribution, to Reach US$35.8 bn by 2024

Transparency Market Research (TMR) has announced the release of a new market report. The report deals with the global gas-insulated substation market and presents comprehensive analysis and accurate forecasts for the market’s development in the forecast period from 2016 to 2024. The report is titled ‘Gas Insulated Substation Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024’ and is available for sale on TMR’s official website.

Substations are a crucial part of electricity distribution infrastructure, as they control distribution as well as transmission of electricity. Substations perform many important tasks in an electricity distribution system, such as converting a high-voltage current to one with a lower voltage value, and vice versa. The higher efficiency of a gas-insulated substations has driven their demand in the global scenario in recent years. According to TMR analysts, the global gas-insulated substations market is expected to more than double in valuation from 2015 to 2024. The market was valued at US$14.7 bn in 2015; exhibiting a robust 10.31% CAGR from 2016 to 2024, the market is expected to rise to a valuation of US$35.8 bn.

Gas-insulated substations utilize sulfur hexafluoride (SF6) for insulation, which enables them to be much smaller than air-insulated substations, since less gas is needed for insulation. Gas-insulated substations can be up to a tenth of the size of normal substations. Sulfur hexafluoride is not only highly dielectric, which makes it an excellent insulating material, but it is also quite stable and doesn’t degrade or deplete over time. This brings down the costs of gas-insulated substations significantly.

The compact nature of gas insulated substations is particularly important in regions where there is a significant risk of natural disasters – Japan, where these substations were developed, is a prime example. The rising urbanization in Japan and other Asia Pacific countries has also been a major driver for the global gas insulated substations market, since they can be installed in urban areas, causing little inconvenience to citizens living near it. Gas insulated substations can also easily be installed in harsh terrain, where their compact size and increased efficiency over air-insulated substations are a major benefit.

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According to geography, TMR analysts have segmented the global gas insulated substations market into Asia Pacific, North America, Europe, and Rest of the World. The report looks into the performance of the market for gas-insulated substations in each of these regions. Within North America, the U.S. and Canada are the major regional markets for gas-insulated substations. In Europe, Germany, the U.K., and France lead the demand along with the CIS countries. The Asia Pacific market for gas-insulated substations is led by India and China, whereas Brazil and the GCC countries are the major regional markets in the rest of the world.

With an aim of explaining the competitive dynamics of the market, the report profiles major players in the global gas insulated substations market such as ABB Ltd., Hitachi, Ltd., Schneider Electric SE, GE, Fuji Electric Co., Ltd., Siemens AG, Mitsubishi Electric Corporation, Toshiba Corporation, Eaton Corporation plc, and Crompton Greaves Ltd. A financial overview and SWOT analysis is provided for each of these key players, along with an analysis of their business strategies and recent developments.

The global gas-insulated substations market is segmented as follows:

Gas Insulated Substation Market: By Region

• North America
• Europe
• Asia Pacific
• Rest of World

Gas Insulated Substation Market: By Voltage

• Medium (≤ 72.5 KV)
• High (> 72.5 KV)

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Mr. Sudip. S

90 State Street Suite 700

Albany NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com

Gas Insulated Substation Market to Reach US$35.83 bn by 2024, Driven by their Reliability and Low Maintenance

Transparency Market Research has released a new market report titled “Gas Insulated Substation Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024”. According to this report, the gas insulated substation market revenue stood at US$ 14.75 Bn in 2015 and is projected to reach US$ 35.83 Bn by 2024 at a CAGR of 10.31% from 2016 to 2024.

Increasing need for compact and low maintenance power systems led to the emergence of gas insulated substations. These substations were developed in Japan since the country is located in a high seismic zone and there was a need for substations, which could be installed in small confined spaces. Gas insulated substations are much more reliable and more efficient than their counterparts air insulated substations. These high voltage substations can be installed in a small sealed environment with sulfur hexafluoride gas acting as the insulating medium. Demand for increased power generation in urban areas has led many countries to adopt high voltage substations.

Gas insulated substations work reliably at high voltages and require less operation and maintenance services. Air insulated substations are susceptible to rising pollution levels, thus such substations can effectively be substituted with gas insulated substations for continuous operations. The market for these substations is anticipated to rise at a substantial pace in the near future due to increasing environmental concerns and scarcity of land in urban areas. Increasing cost of land and demand for compact power systems are the primary drivers boosting the market for gas insulated substations. In urban areas, where availability of land is a rising concern, gas insulated substations can be installed in small areas within a building. The total space required by a gas insulated substation is approximately 10% of that required by a conventional substation. In harsh environmental areas, such as deserts and arctic regions, these substations provide reliable operating performance.

The gas insulated substation market has been segmented, by region into Asia Pacific, North America, Europe, and Rest of World. The gas insulated substation market is further segment by voltage into medium (≤ 72.5 KV) and high (>72.5 KV). High voltage gas insulated substations are primarily used for transmission and distribution of electricity at high and extra-high voltage.

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Asia Pacific was the largest market for gas insulated substations globally, accounting for 54% of the market in 2015. China was the leader in terms of revenue realization from gas insulated substations, followed by India, in 2015. Europe was the second-largest market for gas insulated substations in 2015. CIS countries, such as Russia, spearhead the gas insulated substation market in Europe with modification and expansion of aged electricity infrastructure. North America was the third-largest market for gas insulated substations, in terms of market share, in 2015. The U.S. and Canada were the leading countries with highest revenue realization from gas insulated substations in 2015. The market in Rest of World is expected to witness significant growth in the near future, with growth in the manufacturing and processing sectors and increasing demand for electricity.

The market in Gulf Cooperation Council (GCC) countries is expected to expand at the highest CAGR during the forecast period. Industrialization, and growth in manufacturing and power generation would drive the demand for gas insulated substations in GCC countries.

Some of the key manufacturers of gas insulated substations are ABB Group, Eaton Corporation Plc., Fuji Electric Co., Ltd., General Electric Company, Hitachi, Ltd., Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, Crompton Greaves Limited, and Toshiba Corporation.

The gas insulated substation market has been segmented as follows:

Gas Insulated Substation Market: By Region

• North America
• Europe
• Asia Pacific
• Rest of World

Gas Insulated Substation Market: By Voltage

• Medium (≤ 72.5 KV)
• High (>72.5 KV)

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights for decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, TMR employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Mr. Sudip. S

90 Sate Street Suite 700

Albany NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com

Gas Insulated Substation Market to Reach US$35.83 bn by 2024, GCC Countries to Show Fastest Growth

Transparency Market Research has released a new market report titled “Gas insulated Substation Market – Global Industry Analysis, Size, Share, Growth Trends, and Forecast, 2016–2024”. According to this report, the gas insulated substation market revenue stood at US$14.78 bn in 2015 and is anticipated to reach US$35.83 bn by 2024 at a CAGR of 10.31% from 2016 to 2024.

A gas insulated substation (GIS) is an electrical substation in a sealed environment with sulfur hexafluoride (SF6) gas as the insulating medium. These substations were developed in Japan since the country is located in a high seismic zone and there was a need for substations, which could be installed in small confined spaces. Gas insulated substations are much more reliable and more efficient than their counterparts – air insulated substations. Increasing need for compact and low maintenance power systems led to the emergence of gas insulated substations. Basic components used in assembly of GIS substations are bus bars, circuit breakers, disconnectors, earthing switches, current transformers, voltage transformers, feeder disconnector and control panels.

Gas insulated substations are widely used in high voltage installations, indoor installations, urban installations, and other environmental-sensitive installations. In harsh environmental areas such as deserts and arctic regions, these substations provide reliable operating performance. Increasing cost of land and demand for compact power systems are the primary drivers boosting the market for gas insulated substations. In urban areas, where availability of land is a rising concern, gas insulated substations can be installed in small areas within a building.

The gas insulated substation market has been analyzed in terms of revenue (US$ Bn). Additionally, the market has been segmented on the basis of voltage (medium and high) and geography. Compact size, use of reliable, safe, and stable sulfur hexafluoride (SF6) gas, and modernization of transmission infrastructure to build a reliable, economical, and efficient energy system are some of the drivers for gas insulated substation market.

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Asia Pacific was the largest market for gas insulated substations globally, accounting for 54% of the market in 2015. China was the leader in terms of revenue realization from gas insulated substations, followed by India, in 2015. Europe was the second-largest market for gas insulated substations in 2015. CIS countries, such as Russia, spearhead the gas insulated substation market in Europe with modification and expansion of aged electricity infrastructure. North America was the third-largest market for gas insulated substations, in terms of market share, in 2015. The U.S. and Canada were the leading countries with highest revenue realization from gas insulated substations in 2015. The market in Rest of World is expected to witness significant growth in the near future, with growth in the manufacturing and processing sectors and increasing demand for electricity.

The market in Gulf Cooperation Council (GCC) countries is expected to expand at the highest CAGR during the forecast period. Industrialization, and growth in manufacturing and power generation would drive the demand for gas insulated substations in GCC countries.

Some of the key manufacturers of gas insulated substations are ABB Group, Eaton Corporation Plc., Fuji Electric Co., Ltd., General Electric Company, Hitachi, Ltd., Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, Crompton Greaves Limited, and Toshiba Corporation.

The gas insulated substation market has been segmented as follows:

Gas Insulated Substation Market: By Region

• North America
• Europe
• Asia Pacific
• Rest of World

Gas Insulated Substation Market: By Voltage

• Medium (≤ 72.5 KV)
• High (> 72.5 KV)

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights for decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, TMR employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Mr Sudip S

90 Sate Street Suite 700

Albany NY 12207

Tel: +1-518-618-1030

USA – Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com