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Gas Insulated Transmission Line Market To Reach US$ 469.5 Mn In 2021
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Key Takeaways from Market Study
• Above ground installation of gas insulated transmission line will dominate the landscape. The segment will account for around 50% share at a growth rate of 4.4% CAGR through 2031.
• Tier-I manufacturers are focusing on R&D in the field of insulation gas and DC gas insulated transmission lines.
• By end use, power transmission & distribution accounted for a prominent share of 48% share in 2020, and is expected to rise at 4.7% CAGR through 2031.
• By application, AC-based transmission lines will lead the market experiencing a growth rate of 4.5%. Extensive use of AC current in the power transmission sector and various end industries will drive segment expansion.
• ASEAN, Japan, and the U.K are picking up pace in the gas insulated transmission line industry, owing to robust outlook of various end-use industries in these regions.
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Competitive Landscape
The gas insulated transmission line market is identified to be significantly consolidated. Some of the key players in the market are Siemens AG, GE Grid Solutions, AZZ Incorporate, ABB, Hitachi ABB, LS Cable & System Ltd., and Beta Engineering. These players have higher shares in the global market and have longstanding relationships with a number of end users for the supply of gas insulated transmission lines.
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