Visiongain’s analysis indicates that total spending on Gas Insulated Switchgear Market will be $20,293 million in 2020 as global energy demand continues to increase and the need for more efficient electricity grids is emerging
06 March 2020
Visiongain has launched a new energy report Global Gas Insulated Switchgear Market Forecast 2020-2030: CAPEX Forecasts by Voltage Range (Medium and High) Plus Profiles of Leading Companies and Leading National Market Analysis.
The Gas Insulated Switchgear (GIS) is a compact assembly consisting of multiple components enclosed into a metallic covering with compressed sulphur hexafluoride (SF6) gas as an insulating medium. The switchgear is a combination of circuit breaker, spring mechanism, disconnector, earthing switch, current transformer, voltage transformer, busbar and load control cubicle used to control transmission and distribution of electric power. It has an ability to shut down its equipment during faulty conditions to prevent further damage to the system.
The expansion of physical infrastructure is the biggest challenge faced by utilities. It is accompanied by the acquisition of land, which is a lengthy process aligned with compensation policies and government approvals. The compact design of gas insulated switchgear allows the best utilization of space and offers the most efficient and economical solutions to the customers. It can be easily installed in the densely populated urban areas where land is limited and available at prohibitive costs. This is a very important market driver which is expected to boost the Gas Insulated Switchgear Market the following decade. The rise in the electricity demand is also expected to positively affect the market and augment its growth rate especially in the Asia Pacific region.
Apart from these parameters, the need for ground-breaking changes in the grid networks globally can play a pivotal role in the market’s growth. The lead analyst of the report commented that "There is no doubt that the issue of electricity grids modernization globally is of high importance and there are several discussions among both the developing and the developed nations around this subject. The rise in the electricity demand and the need for integrating renewable energy generated electricity in the global electricity consumption mix requires the digitalization of the infrastructure and the enhancement of the grids’ efficiency. Developing regions including Asia Pacific and Africa are heavily investing towards expansion of transmission and distribution network, while in the US there has been suggested that the unification of the three independent grids currently operating into a large, domestic one, can provide multiple benefits in the electricity transmission. These developments can provide a significant dynamic to the Gas Insulated Switchgear market, as they are necessary part of the grid modernization."
The 191-page report provides details of how spending on the medium and high voltage Gas Insulated Switchgears will evolve over the next 10 years, as well as providing extensive regional analysis and forecasting. A company’s chapter offers detailed analysis and outlooks for the leading Gas Insulated Switchgears producers and leading Gas Insulated Switchgears technology providers.
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