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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