3 Pivotal Trends Fueling The Adoption Of Gas Insulated Power Equipment
The deployment of gas insulated power equipment has gained considerable momentum over the past few years. This can be attributed to growing focus towards enhancing the operational efficiency of power equipment, designing compact product specifications, and consistent efforts to minimize production costs.
Request a sample of this research report @ https://www.gminsights.com/request-sample/detail/3258
With robust demand for energy-efficient power equipment, companies are set to witness promising opportunities in the near future. In June 2020, Siemens Gas and Power (Siemens Energy) was awarded a turnkey contract for two converter stations for the Greek HVDC link that will connect Greece’s mainland with Crete, the country’s largest and most populated island. The engineering, procurement, and construction (EPC) turnkey contract includes a gas-insulted switchgear (GIS) substation on Crete.
Reports estimate that global gas insulated power equipment market size will grow at a healthy CAGR of 8% through 2025, driven by growing deployment of smart grids and renewable energy. Explained below are a few major trends propelling the adoption of gas insulated power systems.
· Soaring demand for uninterrupted power supply
A positive outlook towards sustainable power generation, including wind and solar, has created a strong need for advanced and competitive electrical infrastructure. In order to keep pace with the surging power demand, many companies are looking to boost their power generation capacities. However, the expansion of conventional electrical networks, which require acquiring clearances and greater space, have increased overall project pricing trends.
Switching to GIS technology could provide extensive scope for cost and space reduction while optimizing operational efficiency. Gas insulated systems are rapidly growing in popularity on account of several features such as operational flexibility, high overload capability, enhanced safety, and low space requirement.
· Pressing need for reliable power transmission
Minimization of transmission losses and reliability of power grid infrastructure are among the key aspects when it comes to ensuring efficient transmission capacity. These factors, along with numerous advantages including optimum short circuit endurance capability, non-flammable operation, minimal electrical ageing, and low repair and maintenance costs are likely to increase the adoption of gas insulated power systems.
Manufacturers are constantly investing in research and development pertaining to gas insulated transmission lines (GIL) to minimize the environmental impact and overall project cost. Additional advantages and advanced features including high power ratings, superior short circuit endurance capability, low electromagnetic field emission, and auto reclosing functionality will propel the penetration of GIL systems.
· Favorable regulatory scenario in Asia Pacific
Pacific gas insulated power equipment industry share is slated to witness notable growth in the upcoming years. Developing countries in the region are experiencing a substantial demand for power supply. As a result, these countries are consistently looking to boost conventional power network capacities to address this demand.
The region has also witnessed a considerable shift in power consumption patterns in households and commercial spaces. This can be linked with stringent government and regulatory policies encouraging the deployment of reliable grid networks. The deployment of smart grids, refurbishment of existing grid infrastructure, and rural electrification projects will augment the regional forecast.
Future trends in gas insulated power systems will likely be driven by the integration of renewable grid infrastructure. Additionally, ongoing efforts for the upgradation of HVAC and HVDC transmission networks will bolster the industry outlook. ABB Limited, Siemens, Toshiba Corporation, Mitsubishi Electric Corporation, Schneider Electric, General Electric, Larsen & Toubro, and Hitachi Ltd are a few notable manufacturers of gas insulated power solutions.