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Global GIS Substations Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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Global GIS Substations Market Expand To $33812.74 Million By 2025 From $26490.10 Million In 2019
A GIS 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.
Gas insulated switchgears (GISs) are installed as substation equipment and receiving equipment for safe and stable supply of electricity. Circuit breakers, disconnectors, earthing devices, etc. are enclosed and stored in metal containers using a high-insulation-performance gas. Thus, the equipment is very compact, reliable, and safe.
A GIS Substation uses a superior dielectric gas, SF6, at moderate pressure for phase-tophase 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.
Global revenue of GIS Substations has kept growing during the past five years with an average growth rate of 3.92%. Compared to 2017, GIS Substations market managed to increase revenue by 6.24 percent to $25681.28 million worldwide in 2018 from $24172.56 million in 2017. Overall, the GIS Substations market performance is positive, despite the weak economic environment.
The global GIS Substations market is forecasted to keep the trend and expand to $33812.74 million by 2025 from $26490.10 million in 2019, growing at a CAGR of 4.15% from 2019 to 2025. And it is expected to reach 1222 units in 2025, in terms of volume.
As the technology of GIS Substations is relatively mature and the downstream market, especially for Transmission and Distribution market is growing fast, so there are lots of enterprises in the GIS Substations market. The GIS Substations market competition will be still intense. ABB is the leading manufacturer in the global Gas Insulated Switchgear market with the market share of 8.21%, in terms of revenue, followed by GE Grid Solutions, Siemens, Mitsubishi Electric, Toshiba, Fuji Electric, Hyundai, Eaton, Hyosung, Schneider Electric, Nissin Electric, Crompton Greaves, Xi’an XD High Voltage, NHVS, Shandong Taikai, Pinggao Electric Co., Ltd, Sieyuan Electric and CHINT?Group. The top 18 listed companies accounted for 70% of the market share in 2018.
GIS Substations is widely adopted across the power utility application and industry, including: Mining Industry, Iron-steel Industry, Cement Industry, Petroleum & Gas Industry, Power Rental Industry, Paper Industry, Chemical Industry, Power Generation, Shipbuilding Industry, etc. In the application segment, Power Transmission and Distribution segment accounted for the most of market share (65.15% in 2018), in terms of volume, while Manufacturing and Processing segment accounted for 28.26%. Briefly speaking, in the next few years, GIS Substations industry will still be an energetic industry.
Although GIS Substations market still brings a lot of opportunities, the study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.
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