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Home Energy and Utilities Rise in Demand for Electricity Expected to Drive Global Gas Insulated Switchgear...

Rise in Demand for Electricity Expected to Drive Global Gas Insulated Switchgear (GIS) Market: Ken Research

Gas Insulated Switchgear (GIS) is vital equipment in electrical substation. It is a metal enclosed switchgear, comprising of components such as dis-connectors and circuit breakers. It is largely used in places where space is limited. It is installed or connected on the extensions in areas for instance roof, industrial plants, offshore platforms, and hydro power plants, among others. It provides the space efficient and maximum cost effective solution in order to enhance the overall efficiency.

The key features are included high reliability, high degree of safety, long service life economic efficiency, high availability,  compact design, and little maintenance requirements.

According to study, “Global Gas Insulated Switchgear (GIS) Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” the key companies operating in the global GIS market are Larsen & Toubro, Bharat Heavy Electric Ltd., General Electric Company, Hyundai Heavy Industries Co. Ltd., Schneider Electric SE, Toshiba Corporation, Siemens Ag, Mitsubishi Electric Corporation, Crompton Greaves, Hitachi Ltd., Fuji Electric Co. Ltd., ABB Ltd., Eaton Corporation Plc., Alstom SA, Powell Industries, Inc.., Meidensha, Winpak Ltd., Nissin Electric. The key manufacturers are involved in developing more advanced & sophisticated gas insulated switchgears due to rise in demand for gas insulated switchgears. The manufacturers are endeavoring to enhance the reliability & efficiency of GIS by employing automation and high quality materials.

Based on type, GIS market is segmented into medium voltage GIS and high voltage GIS. Medium voltage GIS includes primary distribution medium voltage GIS and secondary distribution medium voltage GIS. Medium voltage GIS segment dominates the market owing to growth in development in the power distribution sector through the implementation of smart metering and smart grid technology. Based on capacity, market is segmented into < 38 kV, >38kV to <72kV, >72kV to < 150kV and >150 kV. Based on voltage, market is segmented into high voltage transmission, sub-transmission voltage and distribution voltage. High voltage transmission is further sub-segmented into extra high voltage transmission and ultra-high voltage transmission. Based on installation, market is segmented into outdoor GIS, indoor GIS and solid bus duct connection & cable connection. Based on technology, market is segmented into compact GIS, integrated 3 phase GIS, and hybrid GIS. In addition, based on end-user, market is segmented into infrastructure & transportation, power distribution utilities, power transmission utilities, power generation utilities and industries & OEMs. Industries & OEM s include oil & gas, marine, mining, manufacturing & process industries, heavy industries and others.

The GIS market is driven by increase in share of renewable power generation, followed by rise in energy demand & limitations of space availability in densely populated urban areas, growth in investments in the transmission & distribution (T&D) infrastructure, rise in power consumption, growth in industrialization & infrastructural developments and rise in government initiative toward improving electricity access. However, delays in grid expansion projects and high cost of equipment may impact the market. Moreover, rise in investments in smart grids & energy systems, extension or replacement of old switchgear at substations in developed regions and growth in adoption of the high voltage direct current (HVDC) technology are key opportunities for market.

Based on geography, the Asian-Pacific is a leading region in GIS market owing to rise in demand for electricity and large population in the region. The North-American and European regions are anticipated to witness higher growth rate due to strict regulations imposed by the government and up-gradation of power grids with new & advanced variants over the forecast period. In near future, it is expected that the market will be reached at quick pace as a result of rise in renovation of transmission lines during the forecast period.

To know more, click on the link below:-

Global Gas Insulated Switchgear (GIS) Market Research Report

Related Reports:-

Global Gas-insulated Switchgear Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use

Gas-insulated Switchgear Market Research: Global Status & Forecast by Geography, Type & Application (2015-2025)

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Ken Research

Ankur Gupta, Head Marketing & Communications

ankur@kenresearch.com

+91-9015378249

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