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Global Gas Insulated Substations Market: By Voltage: Medium Voltage, High Voltage, Extra High Voltage; By Application; By End Use: Power Transmission and Distribution, Power Generation and Processing; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments
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 2021-2026 to reach a value of around USD 37 billion by 2026.
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: Industry Definition and 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).
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.
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 industry based on the Porter's five forces model along with giving a SWOT analysis.
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 Industry Opportunities and Challenges
8 Global Gas Insulated Substations Market Analysis
8.1 Key Industry Highlights
8.2 Global Gas Insulated Substations Historical Market (2016-2020)
8.3 Global Gas Insulated Substations Market Forecast (2021-2026)
8.4 Global Gas Insulated Substations Market by Voltage
8.4.1 Medium Voltage
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2016-2020)
8.4.1.3 Forecast Trend (2021-2026)
8.4.2 High Voltage
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2016-2020)
8.4.2.3 Forecast Trend (2021-2026)
8.4.3 Extra High Voltage
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2016-2020)
8.4.3.3 Forecast Trend (2021-2026)
8.5 Global Gas Insulated Substations Market by Application
8.5.1 Indoor
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2016-2020)
8.5.1.3 Forecast Trend (2021-2026)
8.5.2 Outdoor
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2016-2020)
8.5.2.3 Forecast Trend (2021-2026)
8.6 Global Gas Insulated Substations Market by End Use
8.6.1 Power Transmission and Distribution
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2016-2020)
8.6.1.3 Forecast Trend (2021-2026)
8.6.2 Power Generation and Processing
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2016-2020)
8.6.2.3 Forecast Trend (2021-2026)
8.6.3 Others
8.7 Global Gas Insulated Substations Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 General Electric Company
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Hitachi, Ltd.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Mitsubishi Electric Power Products, Inc.
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Larsen & Toubro Limited
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Others
13 Industry Events and Developments
List of Figures and Tables
1. Global Gas Insulated Substations Market: Key Industry Highlights, 2016 and 2026
2. Global Gas Insulated Substations Historical Market: Breakup by Voltage (USD Billion), 2016-2020
3. Global Gas Insulated Substations Market Forecast: Breakup by Voltage (USD Billion), 2021-2026
4. Global Gas Insulated Substations Historical Market: Breakup by Application (USD Billion), 2016-2020
5. Global Gas Insulated Substations Market Forecast: Breakup by Application (USD Billion), 2021-2026
6. Global Gas Insulated Substations Historical Market: Breakup by End Use (USD Billion), 2016-2020
7. Global Gas Insulated Substations Market Forecast: Breakup by End Use (USD Billion), 2021-2026
8. Global Gas Insulated Substations Historical Market: Breakup by Region (USD Billion), 2016-2020
9. Global Gas Insulated Substations Market Forecast: Breakup by Region (USD Billion), 2021-2026
10. North America Gas Insulated Substations Historical Market: Breakup by Country (USD Billion), 2016-2020
11. North America Gas Insulated Substations Market Forecast: Breakup by Country (USD Billion), 2021-2026
12. Europe Gas Insulated Substations Historical Market: Breakup by Country (USD Billion), 2016-2020
13. Europe Gas Insulated Substations Market Forecast: Breakup by Country (USD Billion), 2021-2026
14. Asia Pacific Gas Insulated Substations Historical Market: Breakup by Country (USD Billion), 2016-2020
15. Asia Pacific Gas Insulated Substations Market Forecast: Breakup by Country (USD Billion), 2021-2026
16. Latin America Gas Insulated Substations Historical Market: Breakup by Country (USD Billion), 2016-2020
17. Latin America Gas Insulated Substations Market Forecast: Breakup by Country (USD Billion), 2021-2026
18. Middle East and Africa Gas Insulated Substations Historical Market: Breakup by Country (USD Billion), 2016-2020
19. Middle East and Africa Gas Insulated Substations Market Forecast: Breakup by Country (USD Billion), 2021-2026
20. Global Gas Insulated Substations Market Structure
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