Adroit Market Research - Industry Insights
Gas-Insulated Substation Market by Voltage Type (Medium, High, and Extra High), Installation (Indoor and Outdoor), End User (Power Transmission Utility, Distribution Utility, and Generation Utility), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), Global Forecast, 2018 to 2028
Sep 2020
Total Pages: 120
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The global gas-insulated substation market revenue is projected to reach close to USD 45 billion by 2028. This can be attributed to increases in renewable energy production, increased investment in transmission & distribution systems, growing demand for energy. Moreover, capacity supply shortages in heavily populated metropolitan areas, and government policies to enhance access to electricity are some of the other factors to anticipate the increasing demand in the global market.
Markets are projected to develop because of growing environmental issues and land shortages in cosmopolitan regions. Energy demand in developing markets is projected to push the industry as a consequence of shifting habits combined with that disposable per capita income. The product is expected to enter the market at a higher growth rate as it can be built in a small space with isolating atmosphere for sulphur hexafluoride gas. Air-insulated substations are vulnerable to increasing levels of air emissions, and gas-insulated substations are more environmentally friendly. It is anticipated that growing need for low and small maintenance power systems will remain a top trend for rise in sales over the projected period. They are better in efficiency and reliability in comparison with air insulated substations.
.png "Global Gas-Insulated Substation Market 2018-2028 (USD Billion)")
Key Segments of the Global Gas-Insulated Substation Market
Installation Overview, 2018-2028 (USD Billion)
- Indoor
- Outdoor
Voltage Rating Overview, 2018-2028 (USD Billion)
- Medium voltage (Up to 72.5 kV)
- High Voltage (72.5 kV – 220 kV)
- Extra High Voltage (220 kV – 765 kV)
End User Overview, 2018-2028 (USD Billion)
- Power transmission utility
- Power distribution utility
- Power generation utility
- Other (heavy industries & railways)
Regional Overview, 2018-2028 (USD Billion)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global gas-insulated substation market.
- Gas-insulated substation is widely used for various end uses in power generation and distribution utility grid sectors owing to their excellent properties and the market is expected to gain traction over the coming years
- With the growing indoor and outdoor installations, there is a rise in the demand for gas-insulated substation which is further expected to have a positive impact on the overall market growth
What does the report include?
- The study on the global gas-insulated substation market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the gas-insulated substation industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on installation, voltage rating and end user. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global gas-insulated substation market. The report will benefit: Every stakeholder involved in the gas-insulated substation market.
- Managers within the gas-insulated substation industry looking to publish recent and forecasted statistics about the global gas-insulated substation market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global gas-insulated substation market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The higher demand in market is anticipated by the growing land value per hectare fulfilling demand development, as the gas-insulated substations need less space than their counterparts. Space restrictions for building these substations are 90 per cent smaller than most power stations in terms of their limited usage of capacity. Increasing popularity is expected to drive the global market, due to properties such as compatibility to fit in a building. It is anticipated that demand for compact power systems will rise and fuel global market growth. The product in market is anticipated to grow at a higher CAGR due to its versatility to work in extreme conditions such as the arctic and desert. Extreme weather conditions are expected to increase high voltage power stations and market expansion in these regions.
Gas-insulated substation demand are expected to grow as a voltage demand rises in the emerging economies. Growing global security issues and protection at reliability & substation are projected to fuel demand growth over the coming years. Longer life cycle and one-time spending are expected to continue to be a primary driver of demand development for gas-insulated substations. Sulfur hexafluoride is a greenhouse gas that is expected to have a detrimental impact on consumer development for its consumption in substations. It is anticipated that high prices relative to conventional power substations would impede demand development and pose problems for industry participants. Internal fault can cause unnecessary harm and the aspect can hamper business development over the forecast period.
Installation Segment
Based on the installation, the market is segmented into indoor and outdoor installations. The outdoor type leads the market growth in 2019 and it is anticipated to hold its CAGR during the forecast years. Outdoor gas-insulated substations have stable operations in high-voltage and medium-voltage transmission, and are favoured for long-distance transmission and distribution of power. Factors such as increased electricity use, government regulations on energy usage, increased infusion of renewable energies, reconstruction, and modernisation, are the factors to push the demand in the gas-insulated substation industry.
Voltage Type Segment
In terms of the voltage type segment, the market is segmented into Medium voltage (Up to 72.5 kV), High Voltage (72.5 kV – 220 kV), and Extra High Voltage (220 kV – 765 kV). In 2019, the high voltage segment accumulated the major share and is expected to continue the trend over the forecast years. The high voltage market is forecasted to have a increase in demand because of its stability and grid connectivity security. They are commonly used in the case of major power generating plants with vital switchyards. The indoor form is a profusion of the gas-insulated substations connected to the high voltage transmission grid. The high-voltage segment is powered by the reconstruction of old power transmission systems in some of the industrialized countries in North America and Europe.
End Use Segment
In terms of the end use segment, the market is segmented into power transmission utility, power distribution utility, power generation utility, and other (heavy industries & railways). In 2019, the power transmission utility segment accumulated the major market share and is expected to continue the trend over the forecast years. Power transmission utility is powered primarily by the extension of transmission lines which results in the installation of high voltage substations. Gas-insulated switchgear plays a critical role in effective power transfer and grid safety, as well as in the transmission circuit relaying and protection. These utilities are responsible for the extension of the transmission system, procurement of high voltage equipment and for reconstruction.
The Asia Pacific region dominated the overall market share with a CAGR of more than 9.5% in 2019 and it is projected to keep its position during the forecast years 2018-2028. The factors such as demographic growth and increasing urbanization throughout the country are expected to boost market development over the coming years. Asia Pacific has one some of the fastest growing economies in the world as China and India. According to the EIA, by 2035 China and India will jointly account for one-half of global energy usage. Southeast Asia is another prominent and competitive energy market with a 60 per cent rise in electricity demand over the past 15 years. Another factor for growing investment in transmission and distribution network is the increasing power connections in Asia Pacific.
Asia Pacific region is projected to demonstrate a high rate of growth due to growing energy demand in emerging economies like China , India, Thailand, Japan, Indonesia , and Vietnam. Japan was the first country to install gas-insulated substations apart from the country had little room for production. Japan has an upper hand in a variety of producers of substations, and is projected to extend the trend to other Asia Pacific countries. China and India, with a large number of manufacturing sectors is expected to have a fastest growth for the gas-insulated substations in the Asia Pacific market.
.png "Asia Pacific Gas-Insulated Substation Market, 2018-2028 (USD Billion)")
The major players of the global gas-insulated substation market are ABB Group, Hitachi Corporation, Siemens AG, General Electric and Toshiba Corporation. Moreover, the market comprises several other prominent players in the gas-insulated substation market as Alstom S.A., Schneider Electric SE, Hyundai Heavy Industries Co Limited, Mitsubishi Electric Corporation, Fuji Electric Co. Ltd. and Nissin Electric Co. Ltd. The gas-insulated substation market consists of well-established global as well as local players. Additionally, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market
The global gas-insulated substation market revenue is projected to reach close to USD 45 billion by 2028. This can be attributed to increases in renewable energy production, increased investment in transmission & distribution systems, growing demand for energy. Moreover, capacity supply shortages in heavily populated metropolitan areas, and government policies to enhance access to electricity are some of the other factors to anticipate the increasing demand in the global market.
Markets are projected to develop because of growing environmental issues and land shortages in cosmopolitan regions. Energy demand in developing markets is projected to push the industry as a consequence of shifting habits combined with that disposable per capita income. The product is expected to enter the market at a higher growth rate as it can be built in a small space with isolating atmosphere for sulphur hexafluoride gas. Air-insulated substations are vulnerable to increasing levels of air emissions, and gas-insulated substations are more environmentally friendly. It is anticipated that growing need for low and small maintenance power systems will remain a top trend for rise in sales over the projected period. They are better in efficiency and reliability in comparison with air insulated substations.
Key Segments of the Global Gas-Insulated Substation Market
Installation Overview, 2018-2028 (USD Billion)
- Indoor
- Outdoor
Voltage Rating Overview, 2018-2028 (USD Billion)
- Medium voltage (Up to 72.5 kV)
- High Voltage (72.5 kV – 220 kV)
- Extra High Voltage (220 kV – 765 kV)
End User Overview, 2018-2028 (USD Billion)
- Power transmission utility
- Power distribution utility
- Power generation utility
- Other (heavy industries & railways)
Regional Overview, 2018-2028 (USD Billion)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global gas-insulated substation market.
- Gas-insulated substation is widely used for various end uses in power generation and distribution utility grid sectors owing to their excellent properties and the market is expected to gain traction over the coming years
- With the growing indoor and outdoor installations, there is a rise in the demand for gas-insulated substation which is further expected to have a positive impact on the overall market growth
What does the report include?
- The study on the global gas-insulated substation market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the gas-insulated substation industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on installation, voltage rating and end user. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global gas-insulated substation market. The report will benefit: Every stakeholder involved in the gas-insulated substation market.
- Managers within the gas-insulated substation industry looking to publish recent and forecasted statistics about the global gas-insulated substation market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global gas-insulated substation market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Chapter 1 Introduction
1.1 Introduction to the Study
1.2 Market Definition and Scope
1.3 Units, Currency, Conversions and Years Considered
1.4 Key Stakeholders
1.5 Key Questions Answered
Chapter 2 Research Methodology
2.1 Introduction
2.2 Data Capture Sources
2.2.1 Primary Sources
2.2.2 Secondary Sources
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Data Triangulation
2.6 Assumptions and Limitations
Chapter 3 Executive Summary
Chapter 4 Market Outlook
4.1 Introduction
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.1.1 Rising Energy Demand and Space Constraint in Densely Populated Urban Areas
4.3.1.2 Increasing Investments in transmission and distribution sector
4.3.2 Restraints
4.3.2.1 High Cost of Equipment as Compared to Air-Insulated Substation
4.3.2.2 Opportunities
4.3.3.1 Development of an Environment-Friendly Alternative to Sf6 Gas
4.4 Porter’s Five Forces Analysis
4.5 PEST Analysis
4.6. Regulatory Landscape
4.7 COVID-19 Impact Analysis
Chapter 5 Gas-Insulated Substation Market by Installation
5.1 Introduction
5.1.1 Indoor
5.1.2 Outdoor
Chapter 6 Gas-Insulated Substation Market by Voltage Type
6.1 Introduction
6.1.1 Medium voltage
6.1.2 High voltage
6.1.2 Extra High voltage
Chapter 7 Gas-Insulated Substation Market by End Use
7.1 Introduction
7.1.1 Power transmission utility
7.1.2 Power distribution utility
7.1.3 Power generation utility
7.1.3 Others
Chapter 8 Gas-Insulated Substation Market By Region
8.1 Introduction
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.3 Europe
8.3.1 Germany
8.3.2 France
8.3.3 UK
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Middle East & Africa
8.5.1 UAE
8.5.2 South Africa
8.5.3 Rest of Middle East & Africa
8.6 South America
8.6.1 Brazil
8.6.2 Rest of South America
Chapter 9 Competitive Landscape
9.1 Overview
9.2 Strategic Initiatives
9.2.1 Mergers & Acquisitions
9.2.2 New Product Launch
9.2.3 Investments
9.2.4 Expansion
9.2.5 Customer Targeting
Chapter 10 Company Profiles
10.1 ABB Ltd
10.1.1 Overview
10.1.2 Products and Services Portfolio
10.1.3 Recent Initiatives
10.1.4 Company Financials
10.1.5 SWOT
10.2 Alstom S.A
10.2.1 Overview
10.2.2 Products and Services Portfolio
10.2.3 Recent Initiatives
10.2.4 Company Financials
10.2.5 SWOT
10.3 Siemens A.G
10.3.1 Overview
10.3.2 Products and Services Portfolio
10.3.3 Recent Initiatives
10.3.4 Company Financials
10.3.5 SWOT
10.4 Mitsubishi Electric Corporation
10.4.1 Overview
10.4.2 Products and Services Portfolio
10.4.3 Recent Initiatives
10.4.4 Company Financials
10.4.5 SWOT
10.5 Hitachi Limited
10.5.1 Overview
10.5.2 Products and Services Portfolio
10.5.3 Recent Initiatives
10.5.4 Company Financials
10.5.5 SWOT
10.6 Schneider Electric SE
10.6.1 Overview
10.6.2 Products and Services Portfolio
10.6.3 Recent Initiatives
10.6.4 Company Financials
10.6.5 SWOT
10.7 Hyundai Heavy Industries Co Limited
10.7.1 Overview
10.7.2 Products and Services Portfolio
10.7.3 Recent Initiatives
10.7.4 Company Financials
10.7.5 SWOT
10.8 Toshiba Corporation
10.8.1 Overview
10.8.2 Products and Services Portfolio
10.8.3 Recent Initiatives
10.8.4 Company Financials
10.8.5 SWOT
10.9 Fuji Electric Co. Ltd.
10.9.1 Overview
10.9.2 Products and Services Portfolio
10.9.3 Recent Initiatives
10.9.4 Company Financials
10.9.5 SWOT
10.10 Nissin Electric Co. Ltd.
10.10.1 Overview
10.10.2 Products and Services Portfolio
10.10.3 Recent Initiatives
10.10.4 Company Financials
10.10.5 SWOT
10.11 Other Companies