Gas Insulated Transmission Line Market is Anticipated to Reach a Value of US$ 839 Million by 2034

Growth of the gas-insulated transmission line (GIL) market is primarily attributed to the increasing adoption of smart grid technologies | Fact.MR Report

ROCKVILLE, MD, UNITED STATES, December 6, 2024 /EINPresswire.com/ -- The gas insulated transmission line market will reach a valuation of US$ 534.1 million by 2024. It is anticipated that the market is to expand at a 4.6% CAGR from 2024 to 2034. It is anticipated that the market would rise up to a value of US$ 839.0 million by 2034.

The increasing adoption of smart grid technologies is driving the global market for gas-insulated transmission lines. The incorporation of advanced monitoring and control systems augments the comprehensive efficacy and robustness of power transmission infrastructure, hence augmenting market expansion and advancement.

A potential market opportunity for gas-insulated transmission lines globally is the growing emphasis on the integration of renewable energy sources. The market can benefit from developing a strong transmission infrastructure to effectively link and transport power from various renewable sources to the grid as demand for clean energy sources grows.

For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=9448

Key Takeaways from the market Study:

In 2019, the market for gas-insulated transmission lines was estimated to be worth US$ 428.3 million.
North America's market share is expected to increase to 39.5% by 2024.
East Asia is expected to account for 36.5% of the market by 2024.
The market in the United States is projected to reach a valuation of US$ 151.3 million in 2024, with a predicted increase in market share to 71.7%.
The gas insulated transmission line market in China is projected to be worth US$ 110.9 million in 2024. In the same year, the market is anticipated to reach a 56.9% market share.
The aboveground installation sector will account for 50.2% of the market in 2024.

“The development of SF6 gas insulation, compact designs, and environmentally suitable substitutes is driving the global market for gas-insulated transmission lines. Market development is driven by rising demand for sophisticated and sustainable solutions along with a growing need for dependable and efficient power transmission,” remarks a Fact.MR analyst.

Leading Players Driving Innovation in the Gas Insulated Transmission Line Market:

Siemens AG
GE Grid Solutions
AZZ Incorporate
ABB
Hitachi ABB
LS Cable & System Ltd.
Beta Engineering
Tatung Co.
Akahoshi Inc.
Russian Busbar Centre

Competitive Landscape:

Leading global gas-insulated transmission line providers, such as Hitachi and Siemens, are developing technologies to transfer electricity more efficiently. Siemens prioritizes dependability, environmental impact reduction, and compact designs. Hitachi places a strong emphasis on environmentally sustainable solutions, using advanced monitoring systems and creative insulating materials to guarantee performance and safety.

These companies are spearheading the advancement of smart grid technology, facilitating the smooth integration of renewable energy sources and advancing the global evolution of robust and sustainable energy transmission infrastructure.

Businesses use modern technologies such as eco-friendly alternative insulating materials, small-sized GIS (Gas Insulated Switchgear) designs, SF6 gas insulation, and sophisticated monitoring systems. Whereas some companies relies technologies like synthetic air insulation, which improves safety and sustainability within gas-insulated transmission lines, others concentrate on blue GIS technology, which lessens its environmental effect.

Gas Insulated Transmission Line Market News:

In order to accelerate future growth, stimulate innovation, and improve resilience, Siemens announced its investment plan in 2023, which includes €2 billion mainly for increased manufacturing capacity as well as innovation laboratories, education centres, and other own locations. Siemens announced the launch of a new high-tech facility in Singapore to serve the growing Southeast Asian markets.

Grid Solutions was awarded a contract by Larsen & Toubro in 2023 to supply 380 kV T155 gas-insulated substations (GIS) for the largest utility-scale hydrogen plant in the world. This facility will generate "green hydrogen" entirely utilising renewable energy sources. The enormous facility will be located in Oxagon, the smart city Neom has envisioned for northwest Saudi Arabia. The NEOM Green Hydrogen Company (NGHC) plans to use only wind and solar power to produce up to 600 tonnes of carbon-free hydrogen per day at the facility by the end of 2026.

Product Portfolio:

The Nepal Electricity Authority (NEA) has granted a multi-million dollar contract to GE Renewable Energy's Grid Solutions company to automate 39 substations with varying ratings throughout Nepal. The project also includes the construction of six Master Control Centers (MCCs). The MCCs are going to be under GE Digital Solutions' watch.

The Asian Development Bank provides funding for the project (ADB). Retrofitting relay panels and other electrical substation components is another aspect of the project's scope. GE will link the automated substations to Nepal's National Load Dispatch Center (NLDC) so that electricity transmitted through these substations may be monitored in real time.

Get Customization on this Report for Specific Research Solutions: https://www.factmr.com/connectus/sample?flag=S&rep_id=9448

More Valuable Insights Available:

Fact.MR offers an unbiased analysis of the global gas insulated transmission line, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the gas insulated transmission line market, the market is segmented on the basis of 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), application (DC current gas insulated transmission lines, AC current gas insulated transmission lines), and region (North America, Europe, Latin America, East Asia, South Asia & Oceania, and the Middle East & Africa).

Check out More Related Studies Published by Fact.MR Research:

The global gas insulated transformer market size is estimated to be valued at US$ 4,021.2 million in 2024. Projections indicate a steady expansion with a CAGR of 5.5% through 2034. The market is set to attain a valuation of US$ 6,868.8 million by 2034. Various factors, including increased applications in diverse industries, underpin this growth.

The global landfill gas market is expected to be worth US$ 1.4 billion in fiscal year 2022, up from US$ 1.3 billion in fiscal year 2021. From 2022 to 2032, the market is expected to grow at an 8.3% CAGR, reaching a value of US$ 3.1 billion by the end of 2032.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team : sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog

S. N. Jha
Fact.MR
+1 628-251-1583
email us here