The global gas-insulated substation market is estimated to reach a valuation of USD 14.6 billion in 2023. As per Future Market Insights (FMI) analysis, the gas-insulated substation market size is expected to surpass USD 24.6 billion in the next decade. Between 2023 and 2033, the market has been forecasted to register a 5.4% CAGR.
The market is anticipated to be driven by the rising demand for compact, low-maintenance power systems over the forecast period. Gas-insulated substations are more dependable and efficient than air-insulated ones.
Rising per-hectare land values are expected to boost opportunities for expansion because gas-insulated substations require less space than their equivalents. These substations occupy 90% less space than typical power plants, which is an important component permitting industry expansion.
The development of renewable energy sources and investments in clean energy projects are now more important than ever. As a result, the market for gas-insulated substations is expected to benefit greatly from the significant growth of new renewable projects and increased power consumption in the future.
Most key companies develop, produce, install, and service a comprehensive range of cutting-edge Gas Insulated Substations (GIS) for utilities and businesses across the world.
GIS systems from 60 to 800 kV are available, as well as hybrid, mobile, and digital GIS solutions, gas-insulated lines, and other secondary items to optimize switchgear and network performance, such as spring-operated mechanisms for AIS, GIS, and generator circuit breakers.
Their products have a long working life and provide clients with a high degree of performance and dependability to fulfill a wide range of operating requirements, thus creating ample growth opportunities for the market to expand. Key companies provide small, dependable Gas Insulated Switchgear (GIS) that can isolate 500 kV at a single location. They are attempting to structure and construct a new global supply chain and are growing their market-driven engineering system.
Furthermore, important companies say that their GIS can be utilized securely in tight areas and is used in places where space is restricted, such as extensions, city buildings, rooftops, offshore platforms, industrial plants, and hydropower plants.
A market participant provides the 'GV3 series' gas-insulated switchgear, which features a sealed tank design that is suited for contaminated settings and requires less maintenance, thus fueling the growth of the market further.
The GV3 series switchboards are simple to install and completely expandable on-site, hence creating multiple opportunities among the end users.
| Attributes | Details |
|---|---|
| Gas Insulated Substation Market HCAGR (2018 to 2022) | 10.1% |
| Gas Insulated Substation Market CAGR (2023 to 2033) | 5.4% |
| Market Size for Gas-Insulated Substations (2023) | USD 14.6 billion |
| Market Size for Gas Insulated Substation (2033) | USD 24.6 billion |
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The high cost of gas-insulated substations in comparison to typical power stations is a key factor that is expected to stymie industry expansion. The intrinsic problem may cause significant harm, impeding market expansion even further.
On the contrary, factors such as the increased integration of gas-insulated substations in manufacturing units and processing centers, as well as massive expenditures in Research and Development efforts to lower production costs, are expected to fuel market expansion in the future years.
| Country | United States |
|---|---|
| CAGR (2023 to 2033) | 5.2% |
| HCAGR (2017 to 2022) | 9.7% |
| Country | United Kingdom |
|---|---|
| CAGR (2023 to 2033) | 4.5% |
| HCAGR (2017 to 2022) | 8.8% |
| Country | China |
|---|---|
| CAGR (2023 to 2033) | 4.8% |
| HCAGR (2017 to 2022) | 9.4% |
| Country | Japan |
|---|---|
| CAGR (2023 to 2033) | 4% |
| HCAGR (2017 to 2022) | 8.3% |
| Country | South Korea |
|---|---|
| CAGR (2023 to 2033) | 3.8% |
| HCAGR (2017 to 2022) | 7.5% |
| Attributes | Details |
|---|---|
| US Market Size (2033) | USD 8.7 billion |
| US Market Absolute Dollar Growth (USD million/billion) | USD 3.4 billion |
Growing Number of Processing Industries, Information and Communication Hubs, and Telecommunications is Predicted to Lead to an Expansion in the Market in North America. North America currently holds the largest share of the gas-insulated substation market, particularly in the USA which holds a revenue share of 5.2%. The value of the gas-insulated substation market in the USA is estimated to reach a high of USD 8.7 billion.
This is attributed to an increase in the number of processing industries, information and communication centers, and telecommunications. Regional key companies are able to tailor their designs to satisfy the operational needs of their end users at a competitive price without losing stability or employee safety as world leaders in both medium and high-voltage SF6 Gas Insulated Substation (GIS) ranging from 24kV up to 800kV.
Their GIS makes use of sulfur hexafluoride gas (SF6), which is six times heavier than air, provides improved insulating features that safeguard electrical systems, increase the usable life of crucial components, and save operational expenses. Key players provide safe, dependable gas-insulated switchgear technology that may be employed in a variety of applications when the benefits of gas-insulated switchgear surpass the benefits of traditional air-insulated switchgear.
Furthermore, they are always improving their technology and dependability via continuous research and development. They also provide turn-key solutions, which include the provision of equipment, engineering, and full system integration. Over 5,000 Bays of Gas Insulated Substations in both local and international markets have been successfully installed by certain market players, offering a wide variety of products ranging from 25.8 kV to 362 kV. They provide a small top entrance design for minimal space requirements, as well as combinations of modular and adaptable designs to save costs effectively.
| Attributes | Details |
|---|---|
| United Kingdom Market Size (2033) | USD 1 billion |
| United Kingdom Market Absolute Dollar Growth (USD million/billion) | USD 365.7 million |
The United Kingdom produces notable market potential, with a high-paced revenue growth rate of 4.5% and an anticipated value of USD 1 billion, throughout the projection period. This is owing to substantial expenditures in improving the total performance of electric power generation, transmission, and distribution in order to reduce losses. Certain organizations are taking steps to mitigate the excessive greenhouse gas emissions caused by the usage of SF6.
For example, United Kingdom Power Networks, the United Kingdom's largest distribution network operator, is now exceeding its targets of reducing its carbon footprint by 2% yearly and limiting SF6 leakage rates to less than 0.2%. However, as time passes, new methods and techniques may be required to maintain this.
Key manufacturers provide an all-in-one solution that comprises electrical bus bars, current and voltage transformers, surge arrestors, circuit breakers, and switches. However, the benefits of this technique are most seen in the overall design. For instance, greater dependability of coordinated components that perform as one system and decreased project footprint for better outcomes with landowners, town, and county approvals.
| Attributes | Details |
|---|---|
| China Market Size (2033) | USD 1.8 billion |
| China Market Absolute Dollar Growth (USD million/billion) | USD 657.2 million |
China holds a significant share of the gas-insulated substation market, which holds a revenue share of 4.8%. The value of the gas-insulated substation market in China is estimated to reach a high of USD 1.8 billion. This is attributed to increased electricity usage, the replacement of old hydropower units, and the government's drive to improve grid infrastructure.
Key manufacturers in China provide premium GIS that is made up of standard modules connected by flanged joints and can satisfy the requirement for substation optimization design by allowing for various module combinations. It saves space and complies with technological specifications. The domestic first high-power spring operating mechanism of the circuit breaker is compact, safe, and maintenance-free. Furthermore, it is highly dependable and meets the oil-free and gas-free operation mechanism requirements.
| Attributes | Details |
|---|---|
| Japan Market Size (2033) | USD 1.5 billion |
| Japan Market Absolute Dollar Growth (USD million/billion) | USD 468.9 million |
With a revenue growth rate of 4% and an estimated value of USD 1.5 billion throughout the forecast period, Japan is the most lucrative market for gas-insulated substations. Owing to the limited growth space of the country, Japan was the first to build gas-insulated substations. The country has a competitive advantage in a number of substation manufacturers, and it is projected to extend to other countries such as China and India.
With decades of experience, Japanese market players have effectively created a standard series of phase segregated type or three-phase encapsulated type GIS that achieved a quite compact and extremely dependable construction. They comprise small overall dimensions and a completely earthed enclosure. Furthermore, a modular design idea is used, and SF6 gas is equally pressurized throughout the switchgear.
Contact bands are often sold as part of a connection with an integrated contact band, rather than as a standalone device. However, exceptions can be allowed if end users are working with significant electrical power equipment that requires a large number of contact bands. Short-time current may be applied with a stable and strong current. It may be used on both the fixed and sliding parts of the plug. This product is used by several Japanese circuit breaker manufacturers.
Start-up companies are incorporating advanced technologies to contribute to the expanding gas-insulated substation market size:
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The gas insulated substations market share is expected to expand as suppliers continue to improve production automation methods and unique manufacturing techniques in order to provide high-quality goods. Manufacturers also installed equipment to evaluate the reliability and performance of gas insulated substations under extreme temperatures and pressures.
Latest Developments:
The growing popularity of high-quality beer is the current market trend.
North America region generated the maximum revenue of the global demand in 2023.
The United States is estimated to expand at a maximum share through 2033.
The indoor segment contributes a maximum share of the global market.
Hitachi Ltd and ABB Ltd are the leading manufacturers in the global market.
| Estimated Market Size (2023E) | USD 1,406.04 million |
|---|---|
| Projected Market Value (2033F) | USD 2,787.5 million |
| Value-based CAGR (2023 to 2033) | 7.9% |
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