Gas-Insulated Substation Market worth $29.5 billion by 2023 Gas-Insulated Substation Market | $29.5 Bn by 2023

Gas-Insulated Substation Market worth $29.5 billion by 2023
According to the new market research report "Gas-Insulated Substation Market by Voltage Type (Medium,
High, and Extra High), Installation (Indoor and Outdoor), Output Power, End User (Power
Transmission Utility, Distribution Utility, and Generation Utility), and Region - Global Forecast to
2023", published by MarketsandMarkets™, The gas-insulated substation market is expected to grow from an
estimated USD 18.9 billion in 2018 to USD 29.5 billion by 2023, at a CAGR of 9.27%. Rising energy demand
and space constraints in densely populated urban areas are likely to drive the gas-insulated substation market.
Browse 65 market data Tables and 33 Figures spread through 132 Pages and in-depth TOC on "Gas-
Insulated Substation Market”
Early buyers will receive 10% customization on reports.
On the basis of end user, the power transmission utility segment is expected to hold the largest share of
the market
The power transmission utility segment is projected to grow at the second highest CAGR during the forecast
period. Power transmission utility is primarily driven by the addition of transmission lines which leads to the
addition of high voltage substations. Gas- insulated switchgear plays a vital role in grid protection and efficient
flow of power, as well as protection and relaying of the transmission circuit. High voltage transmission and
extra high voltage transmission lies under the jurisdiction of the power transmission utilities. These utilities are
responsible for the transmission grid expansion, refurbishment, as well as procurement of high voltage
equipment.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=222051400
The medium voltage segment is expected to be the fastest-growing segment of the gas-insulated substation
market, by voltage type, during the forecast period.
The medium voltage gas-insulated substation is expected to grow at the highest CAGR from 2018 to 2023. The
market is primarily driven due to the rapid improvement in the power distribution sector through the
implementation of smart grid and smart metering technology. This equipment is mainly used by the core sector,
power generation, infrastructure, transportation, and distribution system industries. The medium voltage gas
insulated substation segment is sub-divided into primary distribution and secondary distribution
Asia Pacific: the leading market for gas- insulated substations
In this report, the gas-insulated substation market has been analyzed with respect to 5 regions, namely, Asia
Pacific, North America, South America, Europe, and the Middle East & Africa. Asia Pacific led the global gas-
insulated substation market in 2018. China, India, and Japan are the largest markets for gas-insulated
substations in the region. These countries are investing in their grid expansion projects to increase distribution