Global Gas Insulated Substation (GIS) Market to Register 9% CAGR as Curbing Emissions Gains Prominence, Says Fairfield Market Research

LONDON, Sept. 13, 2021 /PRNewswire/ -- Fairfield Market Research states that gas insulated substation (GIS) systems are highly compact and take less floor space, offering customers a highly practical and efficient solution. GIS systems are especially useful in urban agglomerations where land is prohibitively expensive as the physical footprint of a GIS is 35% less than an air insulated substation (AIS). The convenient design of GIS systems permits seamless mobility from substations to load centres, minimizing transmission and distribution loss. As a result, the global gas insulated substation market is expected to promise a steady stream of revenue for players.

According to the report, the global gas insulated substation market will be worth US$36,627 Mn in 2025 from US$25,761.20 Mn in 2020, registering a CAGR of 9% for the assessment period.

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Need to Balance Increasing Energy Demand With Emission Control Benefits GIS Market

The gas insulated substation market is projected to record significant growth over the forecast period as environmental concerns and the scarcity of land have an impact on consumer and corporate decision-making respectively. Rising demand for energy has to be aligned with the need to control emissions and this is where gas insulated substations will come into play. The environment-friendly nature of compressed sulphur hexafluoride (SF6) is one of the primary drivers in the gas insulated substation (GIS) market as the transformer can be easily recycled, increasing its appeal among companies seeking to reduce their carbon footprint.

Focus on Indoor Segment to Reap Maximum Gains in the Gas Insulated Substation Market

The indoor segment accounted for the largest portion of the gas insulated substation market in 2019. The indoor gas insulated substations will play a critical role in locations where the cost of earthwork or land is high. Lower capital expenditure for indoor gas insulated substations over outdoor alternatives explains the popularity of this segment in the global market. Nevertheless, gas insulated substations can be used in both indoor and outdoor settings to upgrade existing capacities.

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Imperative for Secure Electricity Distribution Makes APAC Key in the Global Gas Insulated Market

Asia Pacific region is anticipated to be the largest in the gas insulated substation market as the need for safe electricity generation, transmission, and distribution remains unabated. Booming economic growth in China and India is predicted to aid the gas insulated substation market with several companies based here. In 2020, India Grid Trust completed the acquisition of the GTPL transmission project for $150 million. The project comprises 3 gas insulated substations with a capacity of 3000 MVA and 270 kms of transmission lines spread across three north Indian states.

Europe and North America trail APAC in the gas insulated substation market with North America leading from a technological perspective. The continent manufacturers several components used in gas insulated substation networks and companies such as G.E. provide customized solutions for their global customers. Western companies are focusing their efforts on the APAC region to gain share and bolster their position in the gas insulated substation market.

Companies Signing Agreements With Authorities to Upgrade Capacity in GIS Market

A few companies profiled in the report on the gas insulated substation market are Siemens AG, Toshiba Corporation, GE, Mitsubishi Heavy Industries, Hyundai Heavy Industries, ABB Ltd., LARSEN & TOUBRO LIMITED, Hitachi, and Nissin Electric Co., Ltd.

In 2021, Siemens Energy agreed to deliver 10 SF6-free gas insulated switchgears to the Virkkala substation in Finland. In the same year, GE signed an agreement to upgrade three gas insulated substations in Nepal. The American giant will construct three 400 kilovolt gas insulated substations to upgrade the capacity from 220 KV to 400 KV.

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SOURCE Fairfield Market Research