The Gas Insulated Substation (Gis) Market Will See A Capital Expenditure (Capex) Of $26,069 Mn In 2018
02 August 2018
Visiongain’ has launched a new energy report The Gas Insulated Substation (GIS) Market Forecast 2018-2028: Forecasts ($bn) by Voltage Range (Medium (≤ 72.5 KV) and High (> 72.5 KV) voltage), By Regions (North America Europe, Asia-Pacific, Middle East/Africa and Latin America Plus Profiles of Leading Companies Gas Insulated Substation (GIS) Market
The concept of the gas insulated substation was introduced in 1920 when oil was used as the insulating medium in the system. The use of oil was replaced by the compressed air, and different gases are owing to increased research and development in the industry.
A substation is considered as one of the vital elements of power system infrastructure. It is developed to transform high electrical voltage to low or vice versa. It comprises of the assembly of numerous power transmission and distribution systems.
In the past few years, demand for gas insulated substation has gained wide momentum across several countries. Increasing energy demand in several developing countries is augmenting the demand for gas insulated substation (GIS). These substations, on account of its consistent effective performance, prove to be the most beneficial technology for power distribution in harsh, remote areas. They are also highly reliable, more efficient and low maintenance power systems. Rising urban population across several countries is accelerating the demand for the low maintenance small and power systems. Lack of sufficient land infrastructure for the development of conventional substation in these areas is influencing the demand for the GIS technology at a substantial rate.
The visiongain report analyst commented “Gas Insulated Substation market is expected to witness high growth on account of ongoing government plans toward expansion of transmission and distribution network. Increasing measures by the government to facilitate efficient and reliable electrification benefits and decentralised electricity supply will boost the demand for Gas Insulated Substation globally. Rising urban population will further embellish the demand for GIS installation. In addition, governments aim to provide reliable and continuous electric supply will positively impact the product penetration over the coming years.”
Leading companies featured in the report who are involved in Gas Insulated Substation (GIS) include Toshiba Corporation, ABB Group, Fuji Electric Co., Eaton Corporation Plc., Mitsubishi Electric Corporation., General Electric Company, Schneider Electric SE, Hitachi, Ltd., Siemens AG, Crompton Greaves Limited, Larsen & Toubro Limited, Hyundai Heavy Industries, Nissin Electric Co. Ltd., Meidensha Group and Hyosung Corporation.
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