Infrastructure projects such as nuclear power plants, coal power plants, hydropower plants, oil & gas power plants are being taken up on priority across the globe. This factor has given an impetus to gas insulated transmission lines market and the scenario is expected to remain the same in the upcoming period. The advantages of gas insulated transmission lines include low transmission losses, low capacitive load, higher reliability, no electric aging, and increased level of personal safety. Persistence Market Research has walked through these findings along with steps to be taken from the future perspective in its latest market report entitled “Gas Insulated Transmission Lines Market”.
How is the Gas Insulated Transmission Lines Market categorized?
The global gas insulated transmission lines market, by rated voltage, spans 115-220 kV, 230-500 kV, and 550 to 1200 kV. By method of installation, it’s tunnel installation, above ground installation, vertical installation, and direct burial. Application-wise, it’s AC and DC. By end-user, it’s power generation plants, power transmission & distribution, oil & gas industry, chemical industry, cement industry, mining industry, marine industry, IT & telecommunication, railways, and likewise.
Out of these, above ground installation is preferred. It accounts for more than half of the market share. Majority of gas insulated transmission line networks have been installed above ground, that too, on steel structures in substations or power plants. This kind of installation has been proven to be cost-effective and efficient for substations and power plants.
Also, AC gas insulated transmission lines account for more than 60% of the market share. They are used on an extensive count in several end-use industries. Power transmission & distribution sector constitutes for close to 50% of the market share and the percentage is expected to rise in the years to come. Besides, voltage range from 230 to 500 kV accounts for more than 50% of the revenue. 420 kV rated gas insulated transmission lines are in great demand. Persistence Market Research has mentioned about these facts with insights in its latest market study entitled “Gas Insulated Transmission Lines Market”.
Europe holds the largest market share. It, in fact, accounts for more than 20% of the market share from Europe. This could be reasoned with growing investments in the renewable energy sector. Plus, increasing demand for energy is there as a complementary factor in the long run. North America also holds a significant share. However, the Asia-Pacific is expected to witness a topsy-turvy situation in the gas insulated transmission lines market in the forecast period.
China leads the hydropower sector having an installed capacity of 339840 MW as per the International Renewable Energy Agency This, in turn, results in noteworthy demand for gas insulated transmission lines. India is also not behind. Persistence Market Research has entailed these facts with probable courses to action in its latest market study entitled “Gas Insulated Transmission Lines Market”.
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Persistence Market Research has profiled the key players in gas insulated transmission lines market as GE Grid Solutions, Siemens AG, ABB, Hitachi ABB, AZZ Inc., Tatung Co., Akahoshi Inc., Beta Engineering, LS Cable & System Ltd., and Russian Busbar Centre. It has gone further with latest developments on this count. For instance – Siemens, since the year 2015, has its gas-insulated DC transmission lines for transmission of high voltage DC. Likewise, players are churning out new products in line with organic expansion and also engaging into inorganic expansion as per the region and requirement.
The global gas insulated transmission lines market is likely to grow at a noteworthy rate between 2021 and 2031 – Persistence Market Research