Gas Insulated Substation Market Regional Outlook, Competitive Industry Share & Forecast, 2017 – 2024
Dependable power source coupled with reduced geographical area and need of compact power source will positively influence the business outlook. Sulphur Hexafluoride (SF6) is a major component owing to superior dielectric properties than air insulated subsidiary stations. Components of the gas insulated substation market including high-voltage conductors, circuit breakers, voltage transformers, current transformers and switches are encapsulated in a single grounded metal enclosure which greatly reduces the size of the power plant and can be installed in most compact spaces.
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Increasing number of power plants in offshore regions that utilize renewable energy resources require a condensed and powerful power source. Longer life span, better capacity and improved security towards multiple energy sources as compared to air insulated subsidiary stations are the few attributes which will drive the growth of gas insulated substation market during the forecast period. Gas substation is being implemented in offshore regions on a large scale, for instance, a 400kV subsidiary station was installed in Kent, UK that connects the world’s largest offshore wind farm being a key element in the functioning of the 1000MW London Array.
Based on end users, gas insulated substation market can be segmented into utility and non-utility. Under utility, subsidiary stations find its application in various commercial places including industrial buildings, factories, malls, where the need for a powerful and reliable power transmitter and distributor is required.
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Asia Pacific, led by India holds the largest shares of gas insulated substation market owing to its need of a compact, safe and efficient power source. Increasing industrialization coupled with decreasing geographical area will further fuel the industry during the forecast period. Increasing installations of GIS systems in UAE will propel the Middle East region in the near term. Development of new technologies and onset of smart city programs has resulted in the introduction of the industry in North America and will drive the gas insulated substation market during the forecast period.
Notable participants of the gas insulated substation market are Siemens AG (Germany), Schneider Electric SE (France), ABB Ltd. (Switzerland), Alstom SA (France) and Mitsubishi Electric Corporation (Japan).
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