Gas Insulated Switchgear Market is Expected to Grow at an Impressive CAGR
Gas Insulated Switchgear market
is expected to grow due to upgradation in the power industry in terms of
transmission & distribution networks and adoption of renewable energy-based
power plants throughout the forecast period.
According to TechSci Research report, “Gas Insulated Switchgear - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028F”,
the Global Gas Insulated Switchgear
Market is expected to register robust growth during the
forecast period 2024-2028. The implementation of
smart grids and cutting-edge metering technologies is projected to be the key
growth drivers for the global gas insulated switchgear market. Additionally,
government attempts to create smart grid infrastructure would likely propel
market expansion. Advances in technologies like artificial intelligence have
resulted in the rehabilitation of the updated energy grid infrastructure.
Additionally, the use of smart grids results in the deployment of switchgears
and are thus expected to drive the Global Gas Insulated Switchgear Market.
Gas Insulated Switchgear (GIS) are very safe to operate
in restricted areas such as confined spaces. For example, it is used in urban
building extensions, offshore platforms, roofs, and various installations such
as industry and hydropower.
With this type of switchgear, all components can be
grouped in a limited space by enclosing them in an airtight metal area,
allowing SF6 gas to be used as insulation between existing pieces of equipment
and the grounded metal enclosure. This type of switchgear can access systems
from 12kV to 800kV. Insulated switchgear such as SF6 plays an important role
when building substations in confined areas.
Gas Insulated Switchgear
is used when the available space is very limited or when substations require
complex connections. Individual panels and busbars are at ground potential and
can therefore be placed very close together. Gas Insulated Switchgear can be
attached to overhead lines via bushings or attached to cables via special cable
connectors. Gas Insulated Switchgear is a highly reliable and mostly
maintenance-free component compared to Air-Insulated Substations (AIS).
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The Global
Gas Insulated Switchgear Market is segmented based
on type, installation, insulation type and end-user. Based on type, the market is segmented into high voltage and medium voltage. The High Voltage segment is expected to
dominate the market in the forecast period. Power
systems that handle voltages above 36 kV are called medium voltage switchgear.
Due to the high voltage levels, arcs generated during the switching process are
also very high. Therefore, special care should be taken when designing high
voltage switchgear. As high voltage circuit breakers are key components in HV
switchgear, high voltage circuit breakers (CBs) must possess special
characteristics for safe and reliable operation. These switchgears are used in
applications such as wind turbines, electric motors, generators, photovoltaics,
residential power distribution, power systems, green installations, subway
stations, steel, paper, mining, and an increasing number of marine applications.
However, the main application of this segment comes from large transmission and
distribution networks being built around the world, modernized at a
particularly high rate in Asia Pacific countries.
Based on region, the market is segmented into North America, APAC,
Europe, South America, and MEA. APAC is expected
to dominate the gas insulated switchgear market during the forecast period.
APAC is one of the most populus regions, resulting in urbanization, and thus
leading to higher power demand. As a result, investment in transmission and
distribution (T&D) infrastructure has also increased significantly. In
addition, long-haul T&D projects are becoming more environmentally friendly
as underground networks and smaller substations are developed that are
increasingly suitable for gas-insulated switchgear. Moreover, most
utility-scale renewable energy generation facilities, such as solar and wind
farms, are located away from densely populated areas. Therefore, to use the
generated power, it must be connected to demand centers through large-scale
transmission projects. As electricity demand increases, many emerging economies
will be unable to meet their domestic electricity needs. Therefore, new power
plants are being built in this area. The region is also expected to see rapid
adoption of renewable energy-based power generation. This requires its own
transmission and distribution grid and the modernization of existing grid
infrastructure to integrate such power plants. This is expected to increase the
demand for gas insulated power plants.
Key market players in the Global Gas Insulated Switchgear Market are: -
- ABB
Group
- Siemens
AG
- Hyosung
Corporation
- CG Power
and Industrial Solutions Limited (Avantha Group)
- Fuji
Electric Co. Ltd.
- Hitachi
Ltd.
- Tenaga
Switchgear Sdn. Bhd
- Mitsubishi
Electric Corporation
- Schneider
Electric SE
- Toshiba
Corporation
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"Increasing
demand for electricity and upgrading transformation and distribution network
are expected to play a major role in the growth of Gas Insulated Switchgear
Market. As the world continues to adopt renewable energy sources, the market is
expected to get a major boost especially in the Asia-Pacific region, owing to
increase in housing infrastructure in the region due to population growth, forcing
economies to concentrate on building out public housing infrastructure.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Gas Insulated Switchgear Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast 2018-2028F”Segmented
By Type (High Voltage and Medium Voltage), By Installation (Indoor, Outdoor),
By Insulation Type (SF6 and SF6-Free), By End-User (Transmission &
Distribution, Manufacturing, Transportation, Commercial Sites, Others), By
Region has evaluated the future growth potential
of Global Gas
Insulated Switchgear Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the Gas Insulated Switchgear Market, globally.
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