Reports
Global Gas Insulated Substations Market Trends, Forecast: By Voltage: Medium Voltage, High Voltage, Extra High Voltage; By Application: Indoor, Outdoor; By End Use: Power Transmission and Distribution, Power Generation and Processing; Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Gas Insulated Substations Market Outlook
The global gas insulated substations market is expected to grow at a CAGR of about 8.6% in the forecast period of 2024-2032 to reach a value of around USD 43.64 billion by 2032.
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The High Voltage Segment to Augment the Growth of the Gas Insulated Substations Industry
Based on voltage, the high voltage segment is witnessing a significant growth and is expected to account for a major share in the industry in the forecast period. This can be attributed to the benefits provided by gas insulated substations operating on high voltage, such as protection for the grid infrastructure and improved reliability. The high voltage segment is revolutionised by the refurbishment of old power transmission infrastructure in developed countries, which, in turn, is augmenting the market growth. Moreover, the rising demand for energy efficient power transmission systems is expected to further stimulate the market for high voltage gas insulated substations as these are much more energy efficient than traditional air insulated substations.
The Asia Pacific to Dominate the Gas Insulated Substations Industry
The Asia Pacific is one of leading regions in the industry and is further expected to dominate the market in the forecast period. The demand for gas insulated substations in the Asia Pacific is increasing due to factors like increased power consumption, growing investments in the upgradation of aging hydropower plants, and the rising demand for energy in various emerging economies like China, India, Japan, and Vietnam. The presence of several substations producers in Japan is anticipated to further expand to countries like China and India, thus, aiding the market expansion. Moreover, North America is predicted to witness a considerable growth in the forecast period owing to the rising investments to develop power infrastructures across the region.
Gas Insulated Substations: Market Segmentation
Gas insulated substations (GIS) refer to a high voltage substation where the components and major structures are located in a sealed environment. In this sealed environment, sulphur hexafluoride gas (SF6) is used as an insulating medium. These systems are much more reliable, environment-friendly, and flexible than air-insulated substations (AIS).
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By voltage, the market is divided into:
- Medium Voltage
- High Voltage
- Extra High Voltage
Based on application, the industry can be bifurcated into:
- Indoor
- Outdoor
Based on end use, the market is divided into:
- Power Transmission and Distribution
- Power Generation and Processing
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Escalating Demand for Energy Efficient Systems to Bolster the Growth of the Gas Insulated Substations Industry
The industry is being driven by the rising demand for energy efficient power generation systems. This can be attributed to the increasing demand for energy and the escalated usage of vehicles, electric gadgets, and appliances worldwide. Another factor that is fuelling the growth of the industry is that the gas insulated substations are eco-friendly, and, thus, are witnessing increased adoption in comparison to air insulated substations. The rising environmental concerns and inadequacy of land in cosmopolitan areas have significantly augmented the market growth. However, the high cost associated with gas insulated substations are likely to hamper the growth of the industry.
Over the forecast period, factors like the increasing integration of gas insulated substations in manufacturing units and processing centres and the huge investments in R&D activities to reduce their production cost are foreseen to drive the growth of the market in the coming years.
Key Industry Players in the Global Gas Insulated Substations Market
The report gives a detailed analysis of the following key players in the global gas insulated substations market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- General Electric Company
- Hitachi, Ltd.
- Mitsubishi Electric Power Products, Inc.
- Larsen & Toubro Limited
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Voltage, Application, End Use, Region |
| Breakup by Voltage | Medium Voltage, High Voltage, Extra High Voltage |
| Breakup by Application | Indoor, Outdoor |
| Breakup by End Use | Power Transmission and Distribution, Power Generation and Processing, Others |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | General Electric Company, Hitachi, Ltd., Mitsubishi Electric Power Products, Inc., Larsen & Toubro Limited, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Gas Insulated Substations Market Analysis
8.1 Key Industry Highlights
8.2 Global Gas Insulated Substations Historical Market (2018-2023)
8.3 Global Gas Insulated Substations Market Forecast (2024-2032)
8.4 Global Gas Insulated Substations Market by Voltage
8.4.1 Medium Voltage
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 High Voltage
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Extra High Voltage
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Gas Insulated Substations Market by Application
8.5.1 Indoor
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Outdoor
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Gas Insulated Substations Market by End Use
8.6.1 Power Transmission and Distribution
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Power Generation and Processing
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Gas Insulated Substations Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Gas Insulated Substations Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Gas Insulated Substations Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Gas Insulated Substations Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Gas Insulated Substations Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Gas Insulated Substations Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 General Electric Company
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Hitachi, Ltd.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Mitsubishi Electric Power Products, Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Larsen & Toubro Limited
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Gas Insulated Substations Market: Key Industry Highlights, 2018 and 2032
2. Global Gas Insulated Substations Historical Market: Breakup by Voltage (USD Billion), 2018-2023
3. Global Gas Insulated Substations Market Forecast: Breakup by Voltage (USD Billion), 2024-2032
4. Global Gas Insulated Substations Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Gas Insulated Substations Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Gas Insulated Substations Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global Gas Insulated Substations Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global Gas Insulated Substations Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Gas Insulated Substations Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Gas Insulated Substations Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Gas Insulated Substations Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Gas Insulated Substations Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Gas Insulated Substations Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Gas Insulated Substations Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Gas Insulated Substations Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Gas Insulated Substations Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Gas Insulated Substations Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Gas Insulated Substations Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Gas Insulated Substations Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Gas Insulated Substations Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 8.6% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 43.64 billion by 2032.
The market drivers include the benefits offered by gas insulated substations, the rising demand for energy-efficient power transmission systems, the increasing power consumption, and the surging investments in the upgradation of ageing hydropower plants.
The rising demand for energy-efficient power generation systems, the surging usage of vehicles and electronic gadgets, and the increasing integration of gas insulated substations in manufacturing units and processing centres are the key trends guiding the market growth.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major segments based on voltage of the product considered in the market report include medium voltage, high voltage, and extra high voltage.
Indoor and outdoor are the various applications of gas insulated substations.
The significant end uses of gas insulated substations are power transmission and distribution and power generation and processing, among others.
The key players in the market include General Electric Company, Hitachi, Ltd., Mitsubishi Electric Power Products, Inc., and Larsen & Toubro Limited, among others.
Analyst Review
The global gas insulated substations market is driven by the benefits provided by gas insulated substations operating on high voltage, such as protection for the grid infrastructure and improved reliability. The market is expected to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 8.6%. The market is projected to reach USD 43.64 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its voltage, the gas insulated substations industry can be segmented into medium voltage, high voltage, and extra high voltage. On the basis of applications, the market is divided into indoor and outdoor. On the basis of end uses, the market is divided into power transmission and distribution and power generation and processing, among others. The major regional markets for gas insulated substations are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include General Electric Company, Hitachi, Ltd., Mitsubishi Electric Power Products, Inc., and Larsen & Toubro Limited, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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