Gas insulated substation market to grow at CAGR of 19.4% from 2019 to 2025
Gas insulated substation market is expected to reach $41 B by 2025 as compared to $15 B in 2016, escalating at a CAGR of 19.4% during the forecast period from 2017 to 2025.
Gas insulated substation market is expected to reach $41 B by 2025 as compared to $15 B in 2016, escalating at a CAGR of 19.4% during the forecast period from 2017 to 2025 according to the Alexa Reports.
The market for gas insulated substation is influenced by various factors such as easy installation and operation of the mechanism and low maintenance of the system, long life span of the systems and increased reliability of the system over air insulated substations.
The demand for mobile gas insulated substations is increasing across the globe in order to generate maximum power in areas with confined lands. The major advantage of gas insulated substations is the compact size of the system over air insulated substations. Owing to this factor, the mining sector, construction industry, oil & gas industry, as well as marine ports are increasingly adopting the mobile gas insulated substations.
The key players are: ABB, CG Power and Industrial Solutions Ltd., General Electric Company, Eaton, Hyosung Corporation, Mitsubishi Electric Corporation, Nissin Electric Co. Ltd., Schneider Electric SE, Siemens, Toshiba International Corporation.
The regions covered in the report are: North America (U.S., Canada, Mexico), Europe (France, Germany, UK, Italy, Spain), Asia Pacific (China, India, Australia, Japan), Middle East & Africa (Saudi Arabia, U.A.E, South Africa), South America (Brazil, Rest of South America=.
Source: The Edge