US$36,627 Mn Growth Expected in Gas Insulated Substation (GIS) Market By 2025 | Fairfield Market Research
The global gas insulated substation market should grow to $36,627 Mn in 2025 from $23,751 Mn in 2020, recording an impressive 9% CAGR for the period.
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Desire to Reduce Carbon Emissions Make GIS Systems a Natural Option Among Consumers
The environment-friendly credentials of sulphur hexafluoride (SF6) is one of the primary drivers in the gas insulated substation market. The trifecta of global warming, need for economic growth in developing economies, and concern about carbon footprint ensure that gas insulated substations remain popular.
Lower Maintenance Cost and Versatility of GIS Systems Explains their Appeal
The lower capital and operational cost of GIS systems helps fuel their adoption. GIS systems have a longer lifespan than their AIS counterparts and are highly reliable. They can easily function in harsh environmental conditions, making them extremely versatile and sought after.
Easier to Install Indoor GIS Systems in Electric Grids of Industrial Units than AIS Systems
The indoor segment is predicted to retain its commanding position in the gas insulated substation market. GIS systems can easily enter buildings and can be safely incorporated into electrical infrastructure of industrial units, allowing voltage to be stepped down onsite, unlike AIS systems that are impractical and challenging to operate indoors. Indoor GIS systems are vital in locations where the cost of earthwork or land is high as it can significantly impact the overall cost of investment.
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Gas Insulated Substation Giants Investing in APAC to Upgrade Outdated Infrastructure
The Asia Pacific (APAC) region is the most lucrative in the gas insulated substation market and is likely to remain so for the foreseeable future. Gas insulated substations were initially installed in Japan as the island nation has limited room for infrastructure and is densely populated. Japanese insulated substation companies have begun targeting emerging economies in China and India with Toshiba deserving mention.
In March 2021, India Grid Trust completed the acquisition of the NER-II Transmission Ltd. from Sterlite Power, extending its gas insulated substations over 7570 kms in 17 Indian states. NER-II is part of the Inter State Transmission Scheme with a contractual period of 35 years. This pioneering project is anticipated to strengthen the power grid in India’s remote Seven Sister States and address their power needs.
Another region to keep an eye on is North America as it is the base of numerous suppliers and distributors of components used in gas insulated substations. Companies such as GE offer different-capacity based GIS products depending on industrial requirement – particularly outside North America. These companies are focusing their investments in the Middle East and Africa as oil and gas supermajors necessitate an uninterrupted supply of power. In Africa, countries urgently need to update their outdated gas insulated substations and western companies are ideally placed to fulfil this.
Companies Sharing Intellectual Property Through Non-exclusive Alliances in GIS Market
Companies profiled in this informative report on the gas insulated substation market are GE, ABB Ltd., Siemens AG, Toshiba Corporation, Nissin Electric Co., Mitsubishi Heavy Industries, Ltd.
In April 2021, GE’s Renewable Energy’s Grid Solutions and Hitachi ABB Power Grids entered a non-exclusive cross licensing agreement for using an alternative to sulphur hexafluoride (SF6). This alliance will see both companies share intellectual property related to their SF6 solutions. Their efforts have been bolstered by an EU commission report which stated that fluorinitrile gas mixtures could be the only insulating substitute to SF6 in constricted spaces.
Gas Insulated Substation (GIS) Market Press Release: https://www.prnewswire.com/news-releases/global-gas-insulated-substation-gis-market-to-register-9-cagr-as-curbing-emissions-gains-prominence-says-fairfield-market-research-301375129.html
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