Gas Insulated Substation Market Scope
The Gas insulated substation is a substation where the conducting equipment such as breakers, switches, and buses are enclosed with gas. GIS are smaller than normal air insulated substation of the same voltage levels Urban and city environments are prime locations for GIS due to the need for a small and discreet substation. The gas serves as an insulator that has a higher breakdown voltage than air. This gas environment arcs extinguish over smaller distances than in normal atmosphere.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | ABB (Switzerland), General Electric (United States), Siemens (Germany), Hitachi, Ltd. (Japan), Larsen & Toubro (India), Hyundai Heavy Industries (South Korea), Fuji Electric Co. Ltd (Japan), Crompton Greaves (India), Mitsubishi Electric Company (Japan) and Schneider Electric (France) |
CAGR | 9.76% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
ABB (Switzerland), General Electric (United States), Siemens (Germany), Hitachi, Ltd. (Japan), Larsen & Toubro (India), Hyundai Heavy Industries (South Korea), Fuji Electric Co. Ltd (Japan), Crompton Greaves (India), Mitsubishi Electric Company (Japan) and Schneider Electric (France) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Hyosung Corporation (South Korea) and Toshiba Corporation (Japan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Gas Insulated Substation market by Type , by Application (Power Plant, Residential and Other) and Region with country level break-up.
On the basis of geography, the market of Gas Insulated Substation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In August 2023, Siemens Energy acquired a majority stake in the Spanish GIS manufacturer Ingeteam Power Technology. This move strengthens Siemens Energy's position in the European GIS market and expands its product portfolio.
In September 2023, Schneider Electric introduced the EcoStruxure Gas Insulated Switchgear, a new GIS solution designed for improved sustainability and reduced environmental impact.
Influencing Trend:
Optimization Of GIS Design To Allow Easier Maintenance
Market Growth Drivers:
Increasing Demand For Compact Power Systems and Government Mandates On Energy Efficiency
Challenges:
Fierce Competitive Pressure
Restraints:
High Cost Compared To Traditional Power Substations and Excessive Damage In Case Of Internal Fault
Opportunities:
Upgradation Of Ageing Hydropower Plants and Rising Influx Of Renewable Sources In The Energy Mix
Key Target Audience
Gas Insulated Substation Manufactures, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others