Need immediate assistance? Call 1-518-730-0559 (Us-Canada Toll Free) or Contact Us

 

Global Gas Insulated Substation Market to Reach US$35.8 bn by 2024 owing to Rising Demand for Compact Power Systems

Blog Description

A gas insulated substation is an electrical substation assembled in a closed environment in which sulfur hexafluoride gas is used as an insulating medium. Gas insulated substations are mostly located in regions that are considered as high-risk sites for seismic activity. Some of the primary components used in gas insulated substations are circuit breakers, earthing switchers, bus bars, voltage transformers, control panels, current transformers, and feeder disconnectors.

Browse Full Global Gas Insulated Substation Market Report with TOC :http://www.mrrse.com/gas-insulated-substation-market

In 2015, the global market for gas insulated substations was worth US$14.7 bn and is estimated to reach a value of US$35.8 bn by the end of 2024. The market is projected to register a progressive 10.31% CAGR between 2016 and 2024. The growing need for low-maintenance and compact power systems is expected to bolster the growth of the gas insulated substation market worldwide in the near future.

Low Maintenance Requirements and High Efficiency of Gas insulated Substations to Drive Global Market

Gas insulated substations are comparatively more efficient and reliable than air insulated substations, owing to which they are in high demand across the globe. They also occupy less space in comparison with the air insulated substations. The operational costs related to the SF6 gas used in gas insulated substations are also very low, as the gas doesn’t deplete or age over time. Moreover, the electronegativity of SF6 gas is one of the main reasons for its adoption as an insulation module in circuit breakers. Thus, gas insulated substations are highly preferred over air insulated substations.

Gas insulated substations find application primarily in indoor, urban, and high-voltage installations. They are also used widely in environmentally sensitive areas, including Arctic regions and deserts, as they offer consistent operating performance. The rising demand for small-sized power systems and growing cost of land are some of the key factors projected to boost the demand for gas insulated substations in the next few years. In urban areas, gas insulated substations can be installed in confined locations inside a building, as there is a rising concern over availability of land.

Increasing Demand for Electricity to Propel Gas Insulated Substation Market in Asia Pacific

Among the key geographical segments, in 2015, Asia Pacific was the dominant region and held a 54% share in the overall gas insulated substation market. India and China contributed extensively towards the growth of the gas insulated substation market in Asia Pacific, owing to the rising demand for electricity. Furthermore, the expansion and modification of matured electricity generation and distribution infrastructure has encouraged the growth of the Europe gas insulated substation market. North America and Rest of the World are projected to witness remarkable growth in the next few years, thanks to the growth of the processing and manufacturing sectors.

Browse the full Press Release of Global Gas Insulated Substation Market at http://www.mrrse.com/global-gas-insulated-substation-market

The prominent players operating in the global market for gas insulated substations include Eaton Corporation, General Electric, Mitsubishi Electric, Toshiba Corporation, Crompton Greaves Limited, Schneider Electric, Fuji Electric Co., Ltd., Siemens AG, Hitachi, Ltd., and ABB Group.