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Gas Insulated Substation Market Size, Share and Forecast 2023

Gas Insulated Substation Market Highlights

The global gas insulated substation market is estimated to expand at ~19.5% CAGR during the forecast period. A gas insulated substation is a substation which is structured in a sealed environment with sulfur hexafluoride as the insulating medium. A gas-insulated substation uses a superior dielectric gas and SF6 at moderate pressure for phase-to-phase and phase-to-ground insulation. The major components inside the grounded metal enclosures include high voltage conductors, circuit breaker interrupters, switches, current transformers, and voltage transformers. These substations find its application mainly in utilities and industries. These substations are generally compact and are multi-component assembly.

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The growing demand for gas insulated substation is attributed to increasing environmental concerns. Moreover, less space in urban areas is also driving the market for gas insulated substation. One of the major restraints of the gas insulated substation is the lack of sufficient land infrastructure to set up new gas insulated substations.

Industry Segmentation

The market for gas insulated substation is segmented based on end-user as power distribution, power transmission, power generation, infrastructure & transportation, and industries. Power distribution segment dominates the market as gas insulated substations create a new opportunity for power distribution utility providers where space constraint is a challenge. These kinds of substations are compact in size, thus overcome the major challenge of space constraint.

Leading Players

The key players of the global gas insulated substation market are Toshiba Corporation (Japan), Siemens AG (Germany), Fuji Electric Co. Ltd (Japan), Crompton Greaves (India), Hitachi Ltd. (Japan), ABB Ltd. (Switzerland), Schneider Electric (France), Larsen & Toubro (India), General Electric (US), Hyundai Heavy Industries (South Korea), Hyosung Corporation (South Korea), and Mitsubishi Electric Company (Japan).

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Scope of the Report

This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global Gas insulated substation market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis.

Regional Outlook

Region wise, Asia Pacific held the largest market share of the global gas insulated substation market in 2017. It is also estimated that Asia-Pacific region would also be the fastest growing market during the forecast period. Moreover, factors such as increased power consumption, government mandates on energy efficiency, rising influx of renewable resources in the energy mix, and upgradation of ageing hydropower plants in Asia-Pacific are driving the market for global gas insulated substation.

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