Asia-Pacific Gas Insulated Substation Market Insights
According to MRFR analysis, In 2022, the Asia-Pacific Gas Insulated Substation market was estimated to be worth USD 22.1 billion. According to projections, the gas-insulated substation market is expected to increase at a compound annual growth rate (CAGR) of 16.26% from USD 24.19 billion in 2023 to USD 50.02 billion by 2032.
A Asia-Pacific 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 Asia-Pacific 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 Asia-Pacific 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.
Asia-Pacific Gas Insulated Substation Key Players
- Toshiba Corporation (Japan)
- Siemens AG (Germany)
- Fuji Electric Co. Ltd (Japan)
- Crompton Greaves (India)
- Hitachi Ltd. (Japan)
- ABB Ltd. (Switzerland)
- Schneider Electric (France)
- Larsen & Toubro (India)
- General Electric (US)
- Hyundai Heavy Industries (South Korea)
- Hyosung Corporation (South Korea)
- Mitsubishi Electric Company (Japan)
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 Global Asia-Pacific Gas Insulated 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
Asia-Pacific Gas Insulated Substation Industry News:
- Asia Pacific Leads the Way: The Asia Pacific region is currently the biggest market for GIS and is expected to remain so in the foreseeable future, with China and India being the key growth drivers.
- Record-Breaking Deployment: CtrlS recently deployed Asia's largest GIS substation in Mumbai, India. This project highlights the growing adoption of GIS technology for critical infrastructure.
- Environmental Considerations: While SF6 gas offers excellent insulation properties, it's a potent greenhouse gas. There's ongoing research and development for alternative insulating mediums to address this environmental concern.
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