The report “Gas-Insulated Substation Market by Voltage Type (Medium, High, and Extra High), Installation (Indoor and Outdoor), Output Power, End-User (Power Transmission Utility, Distribution Utility, and Generation Utility), and Region – Global Forecast to 2023″, MarketsandMarkets: The gas-insulated substation market is projected to reach USD 29.5 billion by 2023 from USD 18.9 billion in 2018, at a CAGR of 9.2%.
Browse 65 market data Tables and 33 Figures spread through 132 Pages and in-depth TOC on “Gas-Insulated Substation Market – Global Forecast to 2023”
The gas-insulated substation market is expected to register a CAGR of 9.3% from 2018 to 2023. The growth in this market is supported mainly by the growing renewable power generation, the increasing investments in the transmission & distribution infrastructure, the rising energy demand, and limitations of space availability in densely populated urban areas, and increasing government initiatives for improving the electricity access.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=222051400
The high voltage segment will continue to dominate the gas-insulated substation market, by voltage type, during the forecast period
The gas-insulated substation market is segmented, by voltage type, into medium, high, and extra high. The high voltage segment held the largest market share in 2018. This can be attributed to its reliability and protection for the grid infrastructure. High voltage gas-insulated substations are used widely for critical switchyard of large power generation plants. A majority of the gas-insulated substations connected to the high voltage transmission grid are of indoor types. The high voltage segment is also driven by the refurbishment of old power transmission infrastructure in the developed countries of Europe and North America.
The outdoor segment is growing at the fastest rate in the gas-insulated substation market
The gas-insulated substation market is segmented, by installation, into indoor and outdoor. The outdoor segment is expected to grow at the fastest rate during the forecast period. Outdoor gas-insulated substations provide reliable operations in high-voltage transmission and medium voltage and are preferred for transmission & distribution of electricity over a long distance. These gas-insulated substations are designed to be used in outdoor environments. The enclosure is constructed so that the apparatus can be protected from harsh environmental conditions, including possible contamination. Outdoor substations operate above 5 kV voltage range. Thus, with the increase in demand for electricity, that is, the increase in high load transmission is expected to drive the outdoor installation of gas-insulated substations.
Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=222051400
This research report categorizes the gas-insulated substations market based on installation, voltage rating, end-user, and region
On the basis of installation, the market has been segmented as follows:
- Indoor
- Outdoor
On the basis of voltage rating, the market has been segmented as follows:
- Medium voltage (Up to 72.5 kV)
- High Voltage (72.5 kV – 220 kV)
- Extra High Voltage (220 kV – 765 kV)
On the basis of by end-user, the market has been segmented as follows:
- Power transmission utility
- Power distribution utility
- Power generation utility
- Other (heavy industries & railways)
On the basis of by region, the market has been segmented as follows:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
Asia Pacific will continue to dominate the gas-insulated substations market through 2023
The gas-insulated substation market has been analyzed with respect to six regions, namely, North America, Europe, South America, Asia Pacific, and the Middle East & Africa. Asia Pacific is estimated to be the largest gas-insulated substation market from 2018 to 2023, followed by the Middle East & Africa.
Factors such as increasing power consumption, rising influx of renewable sources in the energy mix, government mandates on energy efficiency, renovation, modernization, and upgrade of aging hydropower plants driving the gas-insulated substation industry in Asia Pacific. The extending generation connections in Asia Pacific is another major driver for expanding investments in the transmission & distribution network in this region.
Sample Copy @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=222051400
The gas-insulated substation market consists of a few leading players such as ABB (Switzerland), L&T (India), Siemens (Germany), Hitachi (Japan), Toshiba Corporation (Japan), and General Electric (US) because of their broader product portfolio along with crucial developments in the market. These top players have a wide distribution and sales networks across the globe. The other players in the market include Hyosung (South Korea), BHEL (India), TBEA, Co. Ltd. (China), El Sewedy Electric, Crompton Greaves (India), and Mitsubishi Electric Corporation (Japan).
