Regional Analysis of the Gas Insulated Substation Market Growth...

Regional Analysis of the Gas Insulated Substation Market Growth Opportunities and Market Dynamics

Posted 2023-11-08 11:14:30

Market Research Future Insights

According to MRFR analysis, the global gas insulated substation market is expected to register a CAGR of ~ 16.26% from 2023 to 2032 and hold a value of over USD 50.02 Billion by 2032.

A gas insulated substation (GIS) is a high voltage substation that uses a gas as an insulating medium to minimize electrical insulation distances and physical footprint. It is a compact and reliable solution that is used for high voltage transmission and distribution systems. The gas insulated substation market includes equipment such as GIS, switchgear, transformers, and other components that are used in high voltage power transmission and distribution systems.

The COVID-19 pandemic has had a significant impact on the gas insulated substation market. The pandemic has caused supply chain disruptions, leading to a shortage of raw materials and components required for the manufacture of GIS equipment. The lockdowns and restrictions on travel and transportation have also led to delays in the installation and commissioning of GIS projects. However, the market is expected to recover in the coming years as the pandemic subsides and economic activity resumes.

Regional Analysis

North America: The North American GIS market is expected to grow due to the increasing demand for reliable power transmission and distribution infrastructure, government initiatives to modernize the aging power infrastructure, and the expansion of renewable energy sources. Europe: The European GIS market is expected to grow due to the need for energy-efficient power transmission and distribution infrastructure, increasing investments in smart grid technologies, and government regulations to reduce carbon emissions. Asia Pacific: The Asia Pacific GIS market is expected to grow due to the increasing demand for electricity in developing countries, investments in renewable energy sources, and government initiatives to upgrade the existing power infrastructure.

Middle East and Africa: The Middle East and Africa GIS market is expected to grow due to the increasing investments in the oil and gas industry, the development of smart cities, and the need for reliable power transmission and distribution infrastructure. Latin America: The Latin American GIS market is expected to grow due to the increasing demand for electricity in the region, the expansion of renewable energy sources, and the need for reliable power transmission and distribution infrastructure.

Market Segmentation

The High Voltage Substation market has been segmented into voltage, installation and end-user.

By Voltage: Medium, High, Extra-High and Ultra-High

By Installation: Indoor and Outdoor

By End-User: Power Distribution, Transmission, Generation and Infrastructure

Key Players