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Driving Gas-Insulated Substation Market Growth in 2025: The Role of Clean Energy Demand Propels Growth In Gas-Insulated Substation Market
Gas-Insulated Substation Market
Gas-Insulated Substation Market Size Growth Forecast: What to Expect by 2025?
In the last few years, there's been a swift expansion in the gas-insulated substation market. This market, valued at $24.45 billion in 2024, is projected to surge to $27.05 billion in 2025, representing a compound annual growth rate (CAGR) of 10.6%. The impressive growth observed during the historical period can be credited to factors such as the evolution of high voltage transmission systems, the challenges of space constraints and urbanization, the necessity for dependable power infrastructure, environmental concerns, and heightened grid complexity.
How Will the Gas-Insulated Substation Market Size Evolve and Grow by 2029?
Expectations point towards a swift expansion in the gas-insulated substation market's size in the ensuing years, with its value projected to hit $40.84 billion in 2029, representing a compound annual growth rate (CAGR) of 10.9%. The imminent growth for the forecast period can be linked to regulatory support, escalating concerns over the environment, an increasing demand for compact and high-efficiency substations, emphasis on grid resilience and reliability, and a spike in grid modernization efforts, alongside a shift towards renewable energy. The forecast period is also expected to highlight major trends such as innovation in products, technological progress, an increased focus on grid reliability, the integration of renewable energy sources, and advancements in GIS technology.
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What Drivers Are Propelling the Growth of Gas-Insulated Substation Market Forward?
The growth of the gas-insulated substation market is being propelled by the rising demand for clean energy. This term refers to power that is derived from renewable, zero-emission sources, which in their usage do not contaminate the atmosphere. This energy can additionally be saved through effective power efficiency measures. The standard 245 kV voltage utilized in European high voltage grid solutions, notably high voltage products, are provided by GE Renewable Energy. Enabling SF6-free gas-insulated substations to operate at 245 kV will be instrumental in promoting the decarbonization of the high-voltage grid. For instance, a 2023 report by U.S. Energy Information Administration (EIA), a U.S. agency, revealed that utility-scale electrical power production from hydropower in the U.S. totaled 240 billion kWh, equivalently making up 5.7% of the overall energy share. As such, the expansion of the gas-insulated substation market can be attributed to the growing demand for clean energy.
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Which Emerging Trends Are Transforming the Gas-Insulated Substation Market in 2025?
The trend of product innovation is playing a significant role in the gas-insulated substation market. Leading companies in this market are striving to develop exceptional solutions to compete and solidify their market standing. For instance, Toshiba, a company based in Japan specializing in electronics, introduced a 72kV GIS in March 2023 as a substitution for the equipment at TEPCO PG's Fuchu Substation. The 72kV GIS includes a circuit breaker that stops fault current in a transmission line to protect other electrical equipment, a transmission system switch, a lightning arrester, and an instrument transformer. Remarkably, the 72kV GIS uses a composite of nitrogen and oxygen, also known as synthetic air, as its insulation medium. This is not only safe but also has zero impacts on global warming in case of leakage.
What Are the Key Segments in the Gas-Insulated Substation Market?
The gas-insulated substation market covered in this report is segmented -
1) By Voltage: Medium Voltage, High Voltage, Extra High Voltage
2) By Installation: Indoor, Outdoor
3) By Application: Power Transmission, Power Distribution, Power Generation
4) By End-User: Power Utilities, Industrial Sector, Commercial And Residential Sector
Subsegments:
1) By Medium Voltage: Distribution Substations, Urban And Rural Applications
2) By High Voltage: Transmission Substations, Industrial Applications
3) By Extra High Voltage: HVDC (High Voltage Direct Current) Substations, Ultra High Voltage (UHV) Substations
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Who Are the Key Players Shaping the Gas-Insulated Substation Market's Competitive Landscape?
Major companies operating in the gas-insulated substation market are Hitachi Ltd., Larsen & Toubro Limited, Eaton Corporation PLC, CG Power and Industrial Solutions Limited, Schneider Electric SE, Bharat Heavy Electricals Limited, Elsewedy Electric Co S.A.E., Powell Industries Inc., Hyosung Corporation, Fuji Electric Co. Ltd., Hyundai Heavy Industries Co. Ltd., ABB Ltd., Siemens AG, Toshiba Corporation, General Electric, Mitsubishi Electric Corporation, Tbea Co. Ltd., Entec Electric & Electronic Co. Ltd., ILJIN Electric, Nissin Electric, Meidensha Corporation, LUCY ELECTRIC INDIA PRIVATE LIMITED, Chint Group, SEL S.P.A., ERICO International Corporation
What Geographic Markets Are Powering Growth in the Gas-Insulated Substation Market?
Asia-Pacific was the largest region in the gas-insulated substation market share in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the gas-insulated substation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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