Press release
Gas Insulated Substation (GIS) Market SWOT Analysis and Key Player- ABB, GE, Siemens, Hitachi Ltd- Forecast to 2031
Gas Insulated Substation (GIS) Market
According to study the Gas Insulated Substation (GIS) market is projected to expand between 8% and 10% CAGR during the 2021 to 2031 assessment period. The market is anticipated to account significant growth on the back of increasing power industry, which accounts for prominent share of sales in the GIS substation market.
Electrification and modernization of government and private sector power systems are key factor fueling the market growth. This systems are primarily used in power systems owing to its high compactness and the space occupied by this systems is only about 10% of that of a conventional outdoor or AIS (Air Insulated Substation) substation.
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GIS is a compact and cost-effective solution for replacing traditional air-insulated substations (AIS) with minimal disruption to surrounding areas. Gas insulated substations offer improved safety, space savings, higher reliability and minimal maintenance requirements. Additionally, GIS offers the added advantage of higher operational efficiency due to its low losses when compared with AIS. This technology is expected to be widely adopted in developed regions such as North America and Europe over the coming years due to its multiple benefits.
The Asia Pacific region is characterized by strong economic growth and power demand which are expected to drive the Gas Insulated Substation (GIS) market in this region during the forecast period. Countries such as China, Japan, India and South Korea are expected to be the major contributors to the growth of Gas Insulated Substation (GIS) market in this region. Additionally, countries such as Malaysia, Singapore and Thailand are also likely to witness significant growth due to the rapid expansion of electricity networks in these countries.
Key Players-
Some of the leading manufacturers and suppliers of
• ABB
• GE
• Siemens
• Hitachi Ltd.
• L&T
• Toshiba Corporation
• Mitsubishi Electric Corporation
• Schneider Electric SE
• Nissin Electric Co. Ltd
• Others.
Many leading manufacturers are large scale power system manufactures and have agreements and tie-ups with federal and state governments for grids and other related systems for upgrading energy infrastructure.
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Overall, Gas Insulated Substation (GIS) technology is expected to witness strong demand over the coming years driven by increasing investments in power infrastructure across developed and developing economies. Increasing concerns about environment safety and energy efficiency are also expected to propel the Gas Insulated Substation (GIS) market during the forecast period. The key players in this market are focusing on collaborations and acquisitions for enhancing their product portfolio and expanding their geographic presence. This trend is likely to persist over the forecast period, leading to an increase in competition.
All in all, Gas Insulated Substation (GIS) technology is expected to witness significant growth over the coming years due to its multiple benefits and rising demand for electricity. Government initiatives towards energy efficiency and environment safety are also likely to drive the Gas Insulated Substation (GIS) market during the forecast period. The key players in this market are focusing on product innovation and strategic collaborations for expanding their presence across different regions. Overall, Gas Insulated Substation (GIS) technology is expected to witness strong demand over the next five years.
Key Segments
By Installation Type
Indoor
Outdoor
By Voltage Rating
Medium voltage (Up to 72.5 kV)
High Voltage (72.5 kV - 220 kV)
Extra High Voltage (220 kV - 765 kV)
By End User
Power transmission utility
Power distribution utility
Power generation utility
Other (heavy industries & railways)
By Region
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa
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Key Questions Answered in This Report -
• Which is the largest regional market for Gas Insulated Substation (GIS)?
• What are the upcoming trends of Gas Insulated Substation (GIS) Market in the world?
• What are the key driving factors for the growth of the Gas Insulated Substation (GIS) Market?
• What are the top players operating in the Gas Insulated Substation (GIS) Market?
• What are the key regions in the global Gas Insulated Substation (GIS) market?
• Who are the key players/companies in the global Gas Insulated Substation (GIS) market?
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