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Research Nester published a report titled “Gas-Insulated Substation (GIS) Market : Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global gas-insulated substation (GIS) market in terms of market segmentation by voltage type, installation, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global gas-insulated substation (GIS) market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. The market is segmented by voltage type, into medium, high, and extra high, out of which, the high segment is anticipated to hold a substantial share over the forecast period owing to the increasing application of high voltage GIS in large power generation plants. Moreover, the surging electricity consumption globally is also estimated to boost the segment growth.
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The global gas-insulated substation (GIS) market is estimated to grow on the back of higher safety provided by the gas-insulated substation as compared to air-insulated substation. Gas insulated substations consist of a sealed chamber of sulfur hexafluoride gas as the insulating medium, which is much heavier than air. Furthermore, the growing demand for energy across various industries, along with rising investments in the transmission & distribution infrastructure is anticipated to boost the market growth.
On the basis of geographical analysis, the global gas-insulated substation (GIS) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to garner noteworthy growth over the forecast period owing to the increasing demand for electricity, evolving energy infrastructure, and growing industrialization in the region. According to a report by the International Energy Agency, the total final consumption of China amounted to 6523 TWh in 2019.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Global Electricity Consumption to Encourage the Market Growth
As per the IEA report, in 2019, total global electricity final consumption reached 22,848 TWh.
GIS play a major role in the advancement of energy infrastructure across the globe. Gas-insulated substations are extensively deployed in utility-scale power plants, as GIS are safer and can contain higher voltage of electricity. Moreover, the growing demand for electricity across the globe, is also projected to boost the market growth.
However, lack of awareness and slow adoption process of grid infrastructure is expected to operate as key restraint to the growth of global gas-insulated substation (GIS) market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global gas-insulated substation (GIS) market which includes company profiling of Toshiba Corporation, General Electric Company, Hitachi, Ltd., Siemens AG, ABB Ltd., Johnson Controls International plc, Honeywell International Inc., Energate, Inc, Yokogawa Electric Corporation, and Schneider Electric. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global gas-insulated substation (GIS) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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