The Business Research Company’s report on the Gas-Insulated Substation Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
#How have key drivers contributed to the rapid growth of the gas-insulated substation market?
The increasing demand for clean energy is expected to boost the growth of the gas-insulated substation market. Clean energy refers to electricity that comes from renewable, zero-emission sources that do not pollute the atmosphere while used, in addition to energy saved by way of power efficiency measures. Clean energy consists of 245 kV voltage is a key well-known voltage level for the European high voltage grid answers high voltage merchandise, GE Renewable Energy. Having SF6-loose fuel-insulated substations at 245 kV might be vital to helping the decarbonization of the high-voltage grid. For instance, in 2023, according to a report published by the U.S. Energy Information Administration (EIA), a US-based agency, in 2023, U.S. utility-scale electricity generation from hydropower reached 240 billion kWh, accounting for 5.7% of the total energy share. Thus, the increasing demand for clean energy is driving the growth of the gas-insulated substation market.
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How has the gas-insulated substation market size evolved, and what are the latest forecasts for its expansion?
The gas-insulated substation market size has grown rapidly in recent years. It will grow from $24.45 billion in 2024 to $27.05 billion in 2025 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to development of high voltage transmission systems, space constraints and urbanization, demand for reliable power infrastructure, environmental considerations, increased grid complexity.
The gas-insulated substation market size is expected to see rapid growth in the next few years. It will grow to $40.84 billion in 2029 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to regulatory support and environmental concerns, demand for compact and high-efficiency substations, focus on grid resilience and reliability, increasing grid modernization initiatives, transition towards renewable energy. Major trends in the forecast period include product innovations, technological advancements, rising focus on grid reliability, integration of renewable energy, technological advancements in GIS.
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Which major companies dominate the gas-insulated substation market?
Major companies operating in the gas-insulated substation market are Hitachi Ltd., Larsen & Toubro Limited, Eaton Corporation PLC, CG Power and Industrial Solutions Limited, Schneider Electric SE, Bharat Heavy Electricals Limited, Elsewedy Electric Co S.A.E., Powell Industries Inc., Hyosung Corporation, Fuji Electric Co. Ltd., Hyundai Heavy Industries Co. Ltd., ABB Ltd., Siemens AG, Toshiba Corporation, General Electric, Mitsubishi Electric Corporation, Tbea Co. Ltd., Entec Electric & Electronic Co. Ltd., ILJIN Electric, Nissin Electric, Meidensha Corporation, LUCY ELECTRIC INDIA PRIVATE LIMITED, Chint Group, SEL S.P.A., ERICO International Corporation
What trends will shape the future of the gas turbine services market?
Product innovation is a key trend in the gas-insulated substation market. Major companies operating in the gas-insulated substation market are focused on developing innovative solutions to strengthen their position in the market. For instance, in March 2023, Toshiba, a Japan-based electronics company, launched 72kV GIS, a replacement for equipment at TEPCO PG’s Fuchu Substation. 72kV GIS This device consists of a circuit breaker that blocks fault current on a transmission line to prevent it from harming other electrical equipment, a transmission system switch, a lightning arrester, and an instrument transformer. 72kV GIS uses a blend of nitrogen and oxygen (synthetic air) as its insulating medium, which is safe and has no global warming impact in the event of a leak.
Which region dominates the gas-insulated substation market, and what factors contribute to its leadership?
Asia-Pacific was the largest region in the gas-insulated substation market share in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the gas-insulated substation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How is the gas-insulated substation market segmented, and which segment holds the largest share?
The gas-insulated substation market covered in this report is segmented –
1) By Voltage: Medium Voltage, High Voltage, Extra High Voltage
2) By Installation: Indoor, Outdoor
3) By Application: Power Transmission, Power Distribution, Power Generation
4) By End-User: Power Utilities, Industrial Sector, Commercial And Residential Sector
Subsegments:
1) By Medium Voltage: Distribution Substations, Urban And Rural Applications
2) By High Voltage: Transmission Substations, Industrial Applications
3) By Extra High Voltage: HVDC (High Voltage Direct Current) Substations, Ultra High Voltage (UHV) Substations
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How is the gas-insulated substation market defined?
A gas-insulated substation is a high-voltage substation that uses sulfur hexafluoride gas as the insulating medium at moderate pressure for phase-to-phase and phase-to-ground insulation. The main conducting structures are housed inside a sealed environment.
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