New York, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Gas Insulated Transmission Line will be worth around US$ 510.8 million by 2023, according to Persistence Market Research. The global market for Gas Insulated Transmission Line is expected to have an incremental potential of roughly US$ 800.9 Million between 2023 and 2033, rising at a CAGR of 4.6%.
Gas Insulated Transmission Line (GIL) technology represents an innovative solution for the efficient and reliable transmission of high-voltage electrical power. GILs are used to transmit electricity over long distances, often underground, and are known for their compact design, minimal electromagnetic interference, and high transmission capacity. The global Gas Insulated Transmission Line market has witnessed significant growth due to its advantages over traditional overhead transmission lines and solid-insulated cables.
The Gas Insulated Transmission Line Market has witnessed remarkable growth in recent years, driven by the increasing demand for advanced power transmission technologies and the need for sustainable energy solutions. This article provides an in-depth analysis of the market, covering its overview, market size, segmentation, regional analysis, drivers, challenges, trends, future outlook, key study points, competitive landscape, and recent developments.
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Among the prominent players in the industry are:
Siemens AG, GE Grid Solutions, AZZ Incorporate, ABB, Hitachi ABB, LS Cable & System Ltd., Beta Engineering, Tatung Co., Akahoshi Inc., Russian Busbar Centre
Market Drivers and Challenges:
Drivers:
-
- Growing Demand for Energy: Increasing electricity consumption and the need for efficient transmission are propelling the adoption of GIL technology.
- Renewable Energy Integration: GIL technology facilitates the seamless integration of renewable energy sources into the grid, supporting the global shift towards sustainable energy.
- Environmental Benefits: The use of environmentally friendly insulating gases aligns with efforts to reduce greenhouse gas emissions and minimize the carbon footprint.
- Reduced Transmission Losses: GIL technology significantly reduces energy losses during transmission, enhancing overall efficiency.
Challenges:
-
- High Initial Costs: The installation of GIL systems involves substantial upfront investments, which can act as a barrier to market adoption.
- Maintenance Complexity: While GIL systems require less maintenance compared to traditional transmission methods, specialized expertise is needed for repairs and troubleshooting.
- Environmental Concerns: While SF6 is an effective insulating gas, it has a high global warming potential, raising concerns about its long-term environmental impact.
Market Trends:
- Grid Modernization: The increasing focus on upgrading aging transmission infrastructure to accommodate renewable energy sources and smart grid technologies is driving the adoption of GIL.
- Research and Development: Ongoing research to develop alternative, environmentally friendly insulating gases is a prominent trend, aiming to address concerns related to SF6.
- Partnerships and Collaborations: Key players in the market are forming strategic partnerships to enhance their technological capabilities and expand their global presence.
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Regional Analysis:
The North American GIL market is driven by the need to upgrade aging power infrastructure and integrate renewable energy sources. The United States and Canada are actively exploring GIL technology to meet transmission challenges in densely populated areas and regions with challenging terrains.
European countries are at the forefront of adopting GIL technology to address space constraints and enhance grid efficiency. The emphasis on renewable energy integration and energy transition further supports the growth of the GIL market in this region.
The Asia-Pacific region, with its rapidly growing economies and increasing power demand, is a significant market for GILs. Countries like China, India, and Japan are investing in GIL technology to ensure efficient long-distance power transmission.
Future Outlook:
The future of the Gas Insulated Transmission Line Market appears promising. As technological advancements continue to improve the efficiency and cost-effectiveness of GILs, their adoption is expected to increase globally. Additionally, the expansion of urban areas and the integration of renewable energy sources will likely drive the demand for these advanced transmission solutions.
Competitive Landscape
The market for Gas Insulated Transmission Line is projected to be extremely consolidated, with only a few companies participating. Key market players are extending their market presence strategically through collaborations and partnerships with domestic and international end customers. Furthermore, the introduction of safe products with high durability and a low carbon footprint into the market is expected to drive market expansion across geographies. To provide cost-effective solutions, prominent corporations are focusing major expenditure in research and development efforts.
Recent Developments:
- In June 2021, Hitachi ABB Power Grids will launch a global network of Collaborative Operations Centres and the Grid Automation Shield programme.
- In 2021, LS C&S announced the establishment of a joint power cable subsidiary in Egypt, the company's first production subsidiary in Africa.
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Key Segments Covered in Gas Insulated Transmission Line Industry Research
By Rated Voltage: 115 to 220 kV Gas Insulated Transmission Lines, 230 to 500 kV Gas Insulated Transmission Lines, 550 to 1200 kv Gas Insulated Transmission Lines
By Installation Method: Aboveground Installation of Gas Insulated Transmission Lines, Tunnel Installation of Gas Insulated Transmission Lines, Vertical Installation of Gas Insulated Transmission Lines, Direct Burial of Gas Insulated Transmission Lines
By Application: DC Current Gas Insulated Transmission Lines, AC Current Gas Insulated Transmission Lines
By End User: Power Generation Plants, Power Transmission & Distribution, Oil & Gas Industry, Chemical Industry, Cement Industry, Mining Industry, Marine Industry, IT & Telecommunication, Railways, Others
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