Gas-Insulated Substation Market Share

APAC Market Statistics

The market in the Asia Pacific region is estimated to witness the highest growth by the end of 2036. This can be attributed to the back of evolving energy infrastructure, and increasing energy consumption, backed by the growing industrialization in developing countries. In 2019, China was the largest consumer of electricity, with a total final consumption of 6523 TWh, according to a report by the IEA. Other APAC countries, including India, Japan, and South Korea were among the top 10 highest electricity-consuming countries.   Southeast Asia is another significant and dynamic market for energy consumption that has raised the energy demand by 60% in the last 15 years. The growing generation connection in the Asia Pacific region is another major driver for the rising investment in the distribution and transmission network. Additionally, factors such as updates in aging hydropower plants, rising investment by the government in improving grid infrastructure, and growing power consumption are significant factors expected to drive the growth of this market in the Asia Pacific region during the forecast period.

North American Market Forecast

The market in the North American region is anticipated to gain the largest market share by the end of 2036. This can be attributed owing to the growing adoption of smart grids in the region and rising industrial development, along with increasing demand for electricity in developing countries. Moreover, the growing demand for renewable sources of energy in the region along with the need to update the aging power grids is another significant factor that is anticipated to drive the growth of gas insulated substation market in the North American region during the forecast period. United States holds the largest market share in terms of the GIS market from the North American region. The U.S. government has announced plans to invest in upgrading the country's aging power infrastructure, including its transmission and distribution system, to improve the reliability and resilience of the grid. 

Europe Market Forecast

The market in the Europe region is anticipated to hold a significant market share by the end of 2036. This can be attributed owing to the rising focus on modernizing aging power grids and increasing the use of renewable energy sources. The UK, Germany, France, and Italy are expected to be the most important markets for gas insulated substation market in Europe.