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ENERGY & POWER

Gas-Insulated Substation (GIS) Market Segmentation by Voltage Type (Medium, High, and Extra High); by Installation (Indoor, and Outdoor); by Application (Power Transmission, Distribution Utility, Generation Utility, and Others); by End-User (Utility, Industrial, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • April 04, 2022: Hitachi Energy Ltd. to launch OceaniQ, an innovative solution for the offshore environment in Europe. It will majorly focus on the deployment of wind energy generation in the region.

  • April 29, 2019: ABB Ltd. announced the launch of its first digital grids at the CIRED in Madrid, Spain. ABB also demonstrated its complete portfolio of safe, efficient, and digital product offerings.

Global Gas-Insulated Substation (GIS) Market Highlights over 2022 – 2031

The global gas-insulated substation (GIS) market is estimated to grow at a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. Gas insulated substation contains a sealed chamber of sulfur hexafluoride gas as the insulating medium for high voltage substation. It is safer and more convenient than air insulated substation in a metal-clad system, as sulfur hexafluoride is five times heavier than air. The growth of the market can be attributed to the growing demand for energy across various industries, along with rising investments in the transmission & distribution infrastructure. According to the data by the International Energy Agency (IEA), USD 18 billion were invested in the smart grid infrastructure, while USD 21 billion was spent for installation of smart meters, in 2019. Moreover, the growing demand for electricity across the globe, and rise in adoption of renewable forms of energy, are further estimated to boost the market growth. As per the IEA report, in 2019, total global electricity final consumption reached 22,848 TWh. In addition to this, various advantageous factors of GIS, such as, high voltage potential, and optimum extinguishing ability of the gas, are foreseen to propel the market growth.

Gas-Insulated Substation (GIS) Market Graph

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The market is segmented by voltage type into medium, high, and extra high, out of which, the high segment is anticipated to hold a substantial share in the global gas-insulated substation (GIS) market over the forecast period. This can be accounted to the growing application of high voltage GIS in large power generation plants, in order to meet the surging electricity consumption globally.

Major Macro-Economic Indicators Impacting the Market Growth

Electricity Consumption Sector Graph

In 2019, the world’s total energy supply was 606EJ, wherein the highest share in terms of source was captured by oil, accounting for 30.9%, followed by coal (26.8%), natural gas (23.2%), biofuels and waste (9.4%), nuclear (5.0%), hydro (2.5%), and other (2.2%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 1% due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.

Global Gas-Insulated Substation (GIS) Market Regional Synopsis

On the basis of geographical analysis, the global gas-insulated substation (GIS) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of evolving energy infrastructure, and increasing energy consumption, backed by the growing industrialization in developing countries. In 2019, China was the largest consumer of electricity, with the total final consumption of 6523 TWh, according to a report by the IEA. Other APAC countries, including India, Japan, and South Korea were amongst the top 10 highest electricity consuming countries.  

The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the growing adoption of smart grids in the region and rising industrial development, along with increasing demand for electricity in the developing countries.

Gas-Insulated Substation (GIS) Market Share Graph

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The global gas-insulated substation (GIS) market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global gas-insulated substation (GIS) market includes the following segments:

By Voltage Type

  • Medium
  • High
  • Extra High

By Installation

  • Outdoor
  • Indoor

By Application

  • Power Transmission
  • Distribution Utility
  • Generation Utility
  • Others

By End-User

  • Utility
  • Industrial
  • Others

Growth Drivers

  • Higher Safety Provided by Gas-insulated Substation
  • Growing Investment for Advancement of Grid Infrastructure
  • Rising Demand for Electricity Globally

Challenges

  • Lack of Awareness Regarding Modification of Energy Infrastructure in Developing Countries 
  • Space Restraints in Urban Settlements

Top Featured Companies Dominating the Market

  • General Electric Company
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Toshiba Corporation
  • Hitachi, Ltd.
  • Siemens AG
  • ABB Ltd.
  • Johnson Controls International plc
  • Honeywell International Inc.
  • Energate, Inc
  • Yokogawa Electric Corporation
  • Schneider Electric

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