Gas insulated substations are eco-friendly in comparison of air insulated substations, which are accountable for increasing environmental pollution levels. Moreover, they are supposed to be more efficient, highly safe, dependability and render longer life span compared to air insulated substations. Moreover, gas insulated substation, is a best example of small and low maintenance power systems, which is estimated to act as a key driving force for market growth during the forecast period. Periodically, demand for compact power systems is rising, which propels the popularity of gas insulated substation, as attributed by the compatibility to fit in a building is expected to drive the growth of the global gas insulated substation market over the forecast period. Its flexibility to function in extreme weather conditions is anticipated to increase its market size, in the regions having unpredictable and intense environment.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/13236
Market Trends
- Asia-Pacific is observing a higher demand for gas insulated substations with the increase in investments toward wind and solar farm developments and the rising coal consumption, mainly across India and China.
- The rising industrialization and urbanization, accounted for rise in the demand for reliable power supply in the region, making the continent a hub for higher electricity consumption. The growing investment in transmission and distribution channels, considering the expanding generation connections in the Asia-Pacific will add positive impact to the regional gas insulated substation penetration.
- The suppliers of gas insulated substations are actively participating in strategic decisions, including acquisitions, contractual agreements, and mergers, and are zeroing in on novel product developments to encourage the increasing industrial requirements whilst gaining competitive advantages. For instance, in 2021, Mitsubishi Electric Power Products, Inc., brought forth the latest addition to its high-voltage product line, a 245kV gas insulated switchgear to provide widespread uses in utility, municipal, and industrial utilizations.
- Rising investment in power and infrastructural development in North America region is expected to drive the market growth over the coming years. Begen switching station in North America is the biggest in the country with a capacity of 80 kA short circuit breaking capacity.
- Middle East and Africa are expected to show a substantial growth rate owing to growing power demand and confined space in developed areas. The European market is anticipated to witness a considerable growth rate owing to the rising environmental regulations added with replacement of old substation with improved gas substations.
Key Market Players
- Schneider Electric SE
- Alstom SA (General Electric)
- ABB Ltd.
- Cevian Capital
- BlackRock, Capital Group Companies
- GE (US)
- Siemens (Germany)
- Hitachi, Ltd. (Japan)
- L&T (India)
- Toshiba Corporation (Japan)
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/13236
Key Benefits of the Report
- This study presents the analytical depiction of the XYZ industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the XYZ market share.
- The current market is quantitatively analyzed from 2020 to 2028 to highlight the XYZ market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed XYZ market analysis based on competitive intensity and how the competition will take shape in coming years
COVID-19 Impact analysis
The global economic havoc brought by the COVID-19 pandemic made way for supply chain disruptions, creating restrictions and laying an enormous impact on several businesses globally. Its effect was also felt by the energy, mining, oil, and gas sectors on account of the nationwide lockdown and containment guidelines set into motion by governments globally. The temporary shutdown of the businesses substantially interrupted the demand for gas insulated substations.
Even though, the constant effort put forth by several nations to reinforce their economic situation it is expected to show development for the industry forecast in the post-pandemic era.
Request Customization [“COVID-19 impact”]: https://www.alliedmarketresearch.com/request-for-customization/13236?reqfor=covid
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.