Gas Insulated Substation Market to Reach US$35.83 billion by 2024, Driven by their Reliability and Low Maintenance

Transparency Market Research has released a new market report titled “Gas Insulated Substation Market – Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 – 2024”. According to this report, the revenue stood at US$ 14.75 Bn in 2015 and is projected to reach US$ 35.83 Bn by 2024 at a CAGR of 10.31% from 2016 to 2024.

Increasing need for compact and low maintenance power systems led to the emergence of gas insulated substations. These substations were developed in Japan since the country is located in a high seismic zone and there was a need for substations, which could be installed in small confined spaces. Gas insulated substations are much more reliable and more efficient than their counterparts air insulated substations. These high voltage substations can be installed in a small sealed environment with sulfur hexafluoride gas acting as the insulating medium. Demand for increased power generation in urban areas has led many countries to adopt high voltage substations.

The market in Gulf Cooperation Council (GCC) countries is expected to expand at the highest CAGR during the forecast period. Industrialization, and growth in manufacturing and power generation would drive the demand for gas insulated substations in GCC countries.

Some of the key manufacturers of gas insulated substations are ABB Group, Eaton Corporation Plc., Fuji Electric Co., Ltd., General Electric Company, Hitachi, Ltd., Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, Crompton Greaves Limited, and Toshiba Corporation.

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Ganesh Rajput

As one of the lead news writers on CMFE News, Ganesh’s specialization lies in the science and technology domains. His passion for the latest developments in cloud technology, connected devices, nanotechnology, and virtual reality, among others, shines through in the most recent industry coverage he provides. Ganesh’s take on the impact of digital technologies across the science, technology, and business domains gives his writing a fresh and modern outlook.

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