Gas Insulated Substation Market
REPORT DESCRIPTION
Gas Insulated Substation Market - Global Industry Analysis , Size , Share , Growth Trends , and Forecast 2016 - 2024
Transparency Market Research has released a new market report titled “ Gas Insulated Substation Market - Global Industry Analysis , Size , Share , Growth Trends , and Forecast 2016 - 2024 ”. According to this report , the gas insulated substation market revenue stood at US $ 14.75 Bn in 2015 and is projected to reach US $ 35.83 Bn by 2024 at a CAGR of 10.31 % from 2016 to 2024 .
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Increasing need for compact and low maintenance power systems led to the emergence of gas insulated substations . These substations were developed in Japan since the country is located in a high seismic zone and there was a need for substations , which could be installed in small confined spaces . Gas insulated substations are much more reliable and more efficient than their counterparts air insulated substations . These high voltage substations can be installed in a small sealed environment with sulfur hexafluoride gas acting as the insulating medium . Demand for increased power generation in urban areas has led many countries to adopt high voltage substations .
Gas insulated substations work reliably at high voltages and require less operation and maintenance services . Air insulated substations are susceptible to rising pollution levels , thus such substations can effectively be substituted with gas insulated substations for continuous operations . The market for these substations is anticipated to rise at a substantial pace in the near future due to increasing environmental concerns and scarcity of land in urban areas . Increasing cost of land and demand for compact power systems are the primary drivers boosting the market for gas insulated substations . In urban areas , where availability of land is a rising concern , gas insulated substations can be installed in small areas within a building . The total space required by a gas insulated substation is approximately 10 % of that required by a conventional substation . In harsh environmental areas , such as deserts and arctic regions , these substations provide reliable operating performance .
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