TechSci Research has been effectively engaged with offering far reaching market research information concerning different perspectives which are related to industrial reference and financial specialist utility. This specific research report titled "GLOBAL GAS INSULATED SUBSTATION MARKET BY VOLTAGE TYPE (MEDIUM, HIGH & EXTRA HIGH), BY INSTALLATION (INDOOR & OUTDOOR), BY END-USER (POWER TRANSMISSION UTILITY, DISTRIBUTION UTILITY & GENERATION UTILITY), BY REGION, COMPETITION, FORECAST & OPPORTUNITIES, 2024" has been added to the wide online database of TechSci Research which talks about the present and in addition future market situation. Seekers can get to information related with market volume, regional expanse as well as competitive landscape in the global gas insulated substation market. With the end goal to study development patterns of the market, this study also centres around market elements, which discusses drivers, restraints, and opportunities to impact the concerned market amid the period until 2019 to 2024.
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Global gas insulated substation market is anticipated to grow at a decent pace throughout the forecast period. The growth of the market is majorly attributable to the rising environmental concerns and scarcity of land in cosmopolitan areas. A gas insulated substation (GIS) is a high voltage substation in which the major structures are contained in a sealed environment with sulfur hexafluoride gas as the insulating medium. Moreover, increasing population coupled with rapid industrialization and growing demand for efficient energy sources are further anticipated to propel growth in gas insulated substation market in the coming years.
In terms of voltage type, global gas insulated substation market is categorized into medium, high and extra high. Among these, high voltage segment is expected to hold the largest market share during forecast period. As the power transmission industry struggles to deal with the challenge of bringing high voltage levels into urban areas, with the added requirement of being able to be compatible with the inconsistent supply of power from renewable sources, the segment of high voltage gas insulation substations is expected to gain higher demand.
Some of the leading players in global gas insulated substation market are Hitachi, General Electric, ABB, Mitsubishi Electric, Toshiba Corporation, Larsen & Toubro, Siemens AG, CG Power and Industrial Solutions, Hyosung, Bharat Heavy Electricals Limited, Tbea Co. Ltd., Elsewedy Electric, etc.
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TechSci Research calculated global gas insulated substation market size using a top down approach, wherein data for various application across various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
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