Press release
What's driving the Gas Insulated Power Equipment Market Size? Toshiba, ABB, Siemens AG, Schneider Electric, Mitsubishi Electric, Hitachi, BHEL, Crompton Greaves, L&T, Ormazabal, AZZ, Meidensha Corporation, Hyundai Electric, Iljin Electric, Fuji Electric,
Asia Pacific will observe progress on account of the rising demand for electricity from developing countries. Emerging nations including India are considered as favorable regions as they continue to boost the traditional power network and capacities to meet the growing electricity demand. Shifting power consumption patterns in households and corporations positively influenced by government shift towards the adoption of effective grid network will strengthen the global gas insulated power equipment market share.
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Rapid growth of sustainable technologies including wind energy will fuel the demand for advance & competitive electrical network over the years. Moreover, rising plant capacity to endure the soaring energy demand with conventional electrical network acquiring clearances and more space have increased the overall project price. Therefore, the adoption of GIS technology provides substantial scope for cost & space reduction in line with operational performance which in turn will stimulate the gas insulated power equipment market.
Gas Insulated Equipment Market in 2018 valued over USD 17 billion and is predicted to grow at a rate of over 8% by 2025. The industry in the recent years, has been positively influenced by the substantial increase in demand for compact substation devices to curb the overall project cost, maintenance and space requirements. Although, availability of a significant amount of traditional switchgear technologies including vacuum and air insulated products have constantly been posing obstruction to their incorporation across the industry. However, insistent efforts to reduce costs, manufacture compact product specifications and enhance operational performance have augmented the adoption of these units.
Enhanced safety features, high overload capability, low space requirement and operational flexibility are prime factors which will energize the global gas insulated power equipment market. Furthermore, the GIL offers auto-reclosing functionality, high-power ratings, low electromagnetic field emission and high short-circuit endurance capability. In addition, ongoing efforts for the upgradation of HVAC & HVDC transmission technology coupled with infusion of renewable grid networks will complement the product penetration.
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Enhanced safety features, high overload capability, low space requirement and operational flexibility are prime factors which will energize the global gas insulated power equipment market. Furthermore, the GIL offers auto-reclosing functionality, high-power ratings, low electromagnetic field emission and high short-circuit endurance capability. In addition, ongoing efforts for the upgradation of HVAC & HVDC transmission technology coupled with infusion of renewable grid networks will complement the product penetration.
Eminent gas insulated power equipment market participants include Toshiba, ABB, Siemens AG, Schneider Electric, Mitsubishi Electric, Hitachi, BHEL, Crompton Greaves, L&T, Ormazabal, AZZ, Meidensha Corporation, Hyundai Electric, Iljin Electric, Fuji Electric, Chint Group, Xi'an XD Switchgear Electric, General Electric and Hyosung.
The gas insulated power equipment market has significantly been influenced by government inclination toward the decrease in transmission losses, reliability of electricity grid infrastructure and enhanced transmission capacity. Efficient short-circuit endurance capability, minimal electrical ageing, non-flammable operational characteristics and low maintenance cost have escalated the business growth. Moreover, the manufacturers are constantly investing for R&D activities related to gas insulated transmission lines (GIL) for decrease in the environmental hazards and overall project cost.
Table of Content:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Gas Insulated Power Equipment Industry Insights
Chapter 4 Gas Insulated Power Equipment Market, By Product
Chapter 5 Gas Insulated Power Equipment Market, By Region
Chapter 6 Company profiles
Related Report:
Global Gas Insulated Power Equipment Market Insights, Forecast to 2025
The Gas Insulated Power Equipment has the ability to enclose & store circuit breakers, earthing instruments, and isolator switches in metal containers by using a highly insulated performance gas.
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