Gas
Insulated Switchgear Market – Overview
The Global Gas Insulated
Switchgear Market has witnessed a remarkable growth in the past few years and
it has been anticipated that the market will grow at the rapid pace during the
forecast period. Electricity is a green source of power, which has gained a significant
importance in the modern life. Most of the home appliances, industrial
machineries, trains and many other systems rely on electrical supply.
Certainly, electricity is a boon to the modern life, however, it can turn into
a threat if not handled properly. In a distribution system, all possible
measures have to be taken in order to ensure minimum power loss and maximum
safety. For this, switchgears are used for switching and protecting devices
such as switches, fuses, circuit breakers and relays. The main purpose of
switchgears is to ensure safety of the distribution system by disconnecting in
case of any short-circuit. As per the study conducted by Market Research
Future, the Global Gas Insulated Switchgear Market is likely to grow at the CAGR of around 9%.
Power industry is one of
the major revenue generating industries which has pushed the market for
innovative and eco-friendly energy generation activities, where, gas insulated
switchgear market is one of them. In other words, the growth in the power
industry will create a positive impact on the market for global gas insulated
switchgear. The switchgear has become the backbone of electric transmission lines
spread across the country and in cross border distribution. Over the last
decade, a significant surge in electric power consumption has been observed and
is estimated to grow further owing to numerous electrification projects in
several developing countries. Also, growing power consumption rate or per
capita power consumption across the developed countries is also a major driver
for the growth of global gas insulated switchgears market. Moreover, increasing
adoption of electricity based gadgets, equipment, appliances, vehicles and
others is projected to increase the power demand and dense electricity
distribution network. Furthermore, several countries are engaged in cross
border power transmission to their neighbouring countries, which involve a
thousand miles of transmission lines and hundreds of distribution stations and
sub-stations. Technological advancements in both power generation as well as
distribution systems are estimated to be the main drivers of the gas insulated
switchgears. Owing to the increasing demand for gas insulated switchgears,
various key manufacturers are engaged in developing more advanced and
sophisticated gas insulated switchgears. The manufacturers are striving to
increase the reliability and efficiency of the gas insulated switchgears by
employing automation and high quality materials. Escalating demand for compact
size substations on account of high land lease rates is expected to drive the
demand for gas insulated switchgears. Installation for these products take 1/10th
of the total space required for the conventional switchgears. In November 2015,
the U.S. based Public Service Electric & Gas (PSEG) ordered compact and
modular 420 kV GIS from ABB to enhance power reliability and protect network
from extreme weather conditions.
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Gas
insulated switchgear Global Market - Key Player
ABB Ltd., Siemens AG, Schneider Electric, Mitsubishi Electric
Corporation, General Electric, Hitachi Ltd., Hyundai Heavy Industries Co., Fuji
Electric Co. Ltd., Toshiba International Corporation, Nissin Electric Co. Ltd.,
Crompton Greaves Limited, Hyosung Corporation, Chint Electric Co. Ltd. and
Larsen & Toubro are some of the prominent players profiled in MRFR Analysis
and are at the forefront of competition in the Global Gas Insulated Switchgear
Market.
Gas
insulated switchgear Global Market – Segmentation
The scope of Global Gas Insulated Switchgear Market is
segmented into two major segments which are explained below:
By
Voltage
·
High
·
Medium
By
End-Users
·
Industrial
·
Utility
·
Power generation
·
Infrastructure
·
Others
Gas
insulated switchgear Global Market - Competitive Analysis
The global market for gas
insulated switchgear seems to be highly competitive. To maintain the market
position and to drive the market growth, various dynamic and diversified
international manufacturers, domestic product developers and as well as new
entrants form a competitive landscape. Market leaders are innovating
continuously and increasingly seeking market expansion through various
strategic mergers and acquisitions, product development through innovation
approach, increasing investments in research and development and cost-effective
product portfolio. Major players are investing on internal R&D and, most of
all, in acquiring other firms.
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Industry News:
In November, 2016 – Fuji Electric Co., Ltd., headquartered in Tokyo, Japan, announced the
release of its “145 kV Gas-Insulated Switchgear” (GIS) conforming to the IEC
Standard.
In October, 2016 – GE (NYSE: GE) achieved another milestone in its ‘Make in India’
journey with the commencement of dedicated 765kV Gas Insulated Substation (GIS)
manufacturing line at its high voltage transmission equipment manufacturing
facility at Padappai in Chennai, India.
In Feb, 2016 – ABB won an order from SP PowerGrid to supply four 66 kilovolt (kV)
gas-insulated switchgear (GIS) substations for the city-state of Singapore. The
project is part of SP PowerGrid’s continuous efforts to strengthen the
efficiency and reliability of its transmission and distribution networks and to
meet the growing demand for power in Singapore’s industrial, commercial and
residential sectors.
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