Gas Insulated Power Equipment Market Price
Gas insulated power equipment market expansion to be characterized by the launch of new gas insulated transmission lines, Asia Pacific to emerge as a major growth terrain for the industry
The promising growth graph of the global gas insulated power equipment market can be comprehended by the recent launch of a 550kV-class gas insulated switchgear by Toshiba which has facilitated transportation of a single line main unit as a whole unit for the very first time in the world. The Japanese multinational succeeded in lowering the volume of the gas insulated switchgear by almost 20 percent, while realizing a considerable cost reduction by cutting down the number of parts.
Gas Insulated Power Equipment Market, By Product (USD Million)
Moreover, the installation work time has also been reduced substantially as a lesser amount of time is being needed for assembly and testing on site. Taking into account the aforementioned ingenuity shown by leading gas insulated switchgear manufacturers, it is a given that such technological progress would favor the gas insulated power equipment industry in the times to come.
How is the gas insulated transmission line product segment impelling the growth prospects of the overall gas insulated power equipment industry?
When it comes to the product spectrum of the gas insulated power equipment market, the prominence of gas insulated transmission line has grown in the recent years owing to its excellent characteristics such as minimal electrical ageing, low maintenance cost, and effective capacity to withstand short-circuit. One of the major factors that has favored the increasing popularity of this segment is the fact that numerous gas insulated transmission line makers have focused on research and development activities to create new products that would reduce environmental hazards and the total project cost.
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The German manufacturing behemoth Siemens AG, for instance, has recently introduced a new gas insulated transmission line for transporting large volumes of energy at high DC voltages. Reputed universities such as Dresden University of Applied Sciences, Berlin Technical University, and Eastern Bavarian Technical University Regensburg have supported the research team from Siemens to develop a new gas insulated DC transmission line named the Compact Transmission Line for Direct-Current High Voltage for laying underground.
It has to be noted that the presently available gas insulated transmission line is suited for only alternating current. The uniqueness of Siemens’ transmission line lies in the fact that specific properties at high direct voltages have been taken into consideration while designing the components. Moreover, the gas insulated power equipment industry is witnessing for the first time that a transmission line can transmit up to 5 GW of power per system. Needless to mention, such high voltage transmission capability along with enhanced insulation properties of the new products is ensuring that gas insulated transmission line segment contributes massively to the expansion of the gas insulated power equipment industry.
In terms of regional growth graph, Asia Pacific nations would be the major consumers of gas insulated switchgear and transmission lines owing to the ever-increasing power demand from emerging economies. Evolving power consumption patterns in corporations and households along with swift technological progress would augment Asia Pacific gas insulated power equipment industry. In this regard, it quite prudent to mention that developing nations such as India and China would be leading consumers of gas insulated power equipment as they continuously build electrical capabilities and infrastructure to meet the growing demand for electricity.
It comes as no surprise that gas insulated switchgear and transmission lines are being increasingly installed at substations and power facilities as they are viewed as a system essential to ensure a stable supply of electricity. Owing to this changing mindset of larger energy producers and the necessity to reduce maintenance personnel and site area, the revenue target of gas insulated power equipment market, as per reliable estimates, is set to exceed USD 30 billion by 2025.
Author Name :Saif Ali Bepari