Gas Insulated Substation Market Analysis to 2025 - Eaton, CG Power, Industrial Solutions, Hyosung Corporation, Nissin Electric, Schneider Electric, General Electric Company, And Siemens AG
Rising concerns around the use of energy efficient systems for power generation and increasing real estate prices to drive the adoptions of Gas Insulated Substations whose market is forecasted to grow at a CAGR of 19.4%
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Gas insulated substation market is expectant to reach US$ 41,059.8 million by 2025 as compared to US$ 15,416.1 million in 2016, escalating at a CAGR of 19.4% during the forecast period from 2017 to 2025.
High voltage gas insulated substations held the majority of market share globally in 2017, owing to rapid adoption of the systems. The developed regions and developing regions across the globe are witnessing space limitations due to rapidly increasing population and commercialization. The key players profiled in the report are ABB, Toshiba International Corporation, Schneider Electric SE, General Electric Company and Eaton. Also, CG Power and Industrial Solutions Ltd., Hyosung Corporation, Mitsubishi Electric Corporation, Nissin Electric Co. Ltd. And Siemens AG are other key players profiled in the report.
The gas insulated substations market is bifurcated on basis of application as power transmission and distribution and manufacturing and processing. The major advantage of installing GIS to transmit and distribute power is the compact design of gas insulated substations, which enables the substation to be installed in a confined space. The GIS are compact in design but are capable of transmitting and distributing heavy loads than the power of an air insulated substation. The Gas insulated substation market is poised to grow during the forecast period from 2017 to 2025, owing to the upgradation of existing or traditional power transmission and distribution centers in few developed countries to gas insulated substations, which provide more power over a longer distance
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