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Global Gas Insulated Power Equipment Market Growing at a CAGR of 11.0% during 2021-2028

Gas Insulated Power Equipment is the apparatus used for regulating, switching, and controlling on or off the electric circuit in the electricity system. The switchgear system is linked directly to the electricity supply system. It is integrated with both the low and high voltage area of the power transformer. Their transmission lines are the flexible and safe alternative when compared to overhead lines and occupy less space while offering the same electricity transmission.

Renewable power generation has become significantly cheaper than diesel-fired generation, particularly in isolated areas with poor or even non-existent infrastructure. Due to this, there has been significant growth in the demand for distributed generation through renewable sources in the industrial and commercial sectors. According to the International Energy Agency (IEA), in 2018, the total electricity generated by renewable sources accounted for 25% of the global electricity generation. A gas-insulated switchgear is suitable for renewable power systems and substations that require greater capacity and performance, which need large current-carrying and high short-circuit capacity. It also includes all the devices that ensure power system protection and regulate power supply. Gas-insulated switchgears clear faults in the system, thereby ensuring a reliable power supply.

The Global Gas Insulated Power Equipment Market is accounted for $25.81 billion in 2021 and is expected to reach $53.58 billion by 2028 growing at a CAGR of 11.0% during the forecast period. The gas insulated transmission lines segment is anticipated to witness the fastest CAGR growth during the forecast period. The Gas Insulated Transmission line (GIL) has substantially been affected by regulatory shift toward reduction in transmission losses, enhanced transmission capacity and reliability of electricity grid network. Effective short-circuit withstand capability, low maintenance cost, minimal electrical ageing and non-flammable operational characteristics have positively swayed the product adoption. Furthermore, the manufacturers are allocating heavy fund for research and development activities associated to gas insulated transmission lines for reduction in the overall project cost and environmental hazards. In addition, the GIL offers high-power ratings, auto-reclosing functionality, high short-circuit withstand capability and low electromagnetic field emission.

Some of the key players profiled in the Gas Insulated Power Equipment Market include Xi’an XD Switchgear Electric, Toshiba Corporation, Siemens, Schneider Electric, J Murphy & Sons Ltd, Mitsubishi Electric Corporation, Meidensha Corporation, Larsen & Toubro, Hyundai Electric & Energy Systems, Hyosung Heavy Industries, Hitachi Ltd, General Electric, Fuji Electric, Bharat Heavy Electricals Limited, and ABB Limited.

Read More: https://www.giiresearch.com/report/smrc1064180-gas-insulated-power-equipment-market-forecasts.html 

 

Tags: Gas Insulated Transmission Lines, Toshiba, Schneider Electric, HVDC, Hitachi, Gas Insulated Switchgear, Siemens, HVAC

See Campaign: https://www.giiresearch.com/report/smrc1064180-gas-insulated-power-equipment-market-forecasts.html

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