The GIS Substations Market is an important part of the global power infrastructure and has been growing steadily over the past several years. GIS (Gas Insulated Substation) technology offers a reliable, efficient and safe way to transport electricity from one point to another. This type of substation is suitable for high-voltage transmission lines, as it provides greater reliability than air insulated substations due to its design. GIS substations are also compact in size and occupy less space than traditional substations, making them ideal for use in urban areas where space is a premium.
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Market Size and Growth:
The global GIS substation market size was valued at USD 5.35 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.2% from 2021 to 2028. The increasing adoption of smart grid technologies, growing demand for renewable energy sources, and rising investments in the modernization of power transmission and distribution systems are some of the major factors driving the market growth.
Segment Analysis: The global GIS substation market is segmented based on component, voltage, and application.
- By component, the market is segmented into hardware, software, and services. The hardware segment is expected to account for the largest share of the market during the forecast period.
- By voltage, the market is segmented into high voltage, medium voltage, and low voltage. The high voltage segment is expected to account for the largest share of the market during the forecast period.
- By application, the market is segmented into transmission and distribution, renewable energy, and industrial and commercial. The transmission and distribution segment is expected to account for the largest share of the market during the forecast period.
Regional Analysis: The market for GIS substations is expected to witness significant growth in the Asia Pacific region, due to the increasing investments in the power transmission and distribution sector, especially in countries like China and India. North America and Europe are also expected to witness steady growth in the market, driven by the increasing adoption of smart grid technologies and the growing demand for renewable energy sources.
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Competitive Landscape:
- ABB
- GE
- Siemens
- Hitachi Ltd.
- L&T
- Toshiba Corporation
- Mitsubishi Electric Corporation
- Schneider Electric SE
- Nissin Electric Co. Ltd
- Others.
Conclusion: The market for GIS substations is expected to grow in the coming years as the demand for electricity continues to increase and the need for efficient and reliable power distribution systems becomes more pressing. The increasing adoption of smart grid technologies, growing demand for renewable energy sources, and rising investments in the modernization of power transmission and distribution systems are some of the major factors driving the market growth. The Asia Pacific region is expected to witness significant growth in the market, followed by North America and Europe.
APAC is another prominent region for the GIS substation market. This region has witnessed some of the most significant industrial activities in the near past. China, Japan, India, Singapore and Indonesia are the leading countries in the region.
With rising concern and awareness for proper transmission and distribution to ensure uninterrupted power supply, market is anticipated to gain significant sales figure in the forecast period from the region. Additionally Japan accounts for high sales for this substation in the regions owing to low land space and high energy demand and also it was the first country to use this type of substations.
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