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Gas Insulated Transmission Lines Market Size
Gas Insulated Transmission Lines (GITL) Market is slated to observe substantial CAGR from 2024 to 2032 driven by the increasing usage of these lines in various infrastructure projects, such as coal power plants, hydropower dams, nuclear power plants, oil & gas power plants, and so on.
According to a report by The World Economic Forum, by 2050, it is projected that 80% of the global population will reside in urban areas, marking a significant increase from the current 55%. In urban areas, the demand for electricity continues to rise due to population growth, industrialization, and the proliferation of electronic devices. Traditional overhead power lines face challenges in densely populated urban environments due to limited space, aesthetic concerns, and susceptibility to environmental factors like storms or accidents. Gas insulated transmission lines (GITL) offer a solution to these challenges by providing a compact and efficient alternative, thereby propelling industry growth.
Gas Insulated Transmission Lines Market Trends
There are notable advancements in insulation technology and manufacturing processes that are leading to the development of more efficient and cost-effective GITL solutions. The government initiatives promoting energy efficiency, grid modernization, and decarbonization are encouraging investments in GITL projects, particularly in regions with aging infrastructure and growing electricity demand. Further, the technological innovations such as digital monitoring and predictive maintenance are enhancing the performance and reliability of GITL systems, driving market expansion and attracting investments from utilities and transmission system operators.
Gas Insulated Transmission Lines Market Analysis
The above-ground installation segment is poised to gain significant traction during the study period, owing to the advantages, including enhanced reliability, reduced maintenance requirements, and smaller footprint compared to conventional overhead lines or underground cables. Moreover, these GITL installations are more cost-effective and easier to install, making them a preferred choice for various applications, especially in densely populated urban areas and environmentally sensitive regions.
Gas insulated switchgear (GIS) segment share is anticipated to grow substantially till 2032, owing to their role in controlling and protecting the flow of electricity within the transmission network. These compact and enclosed switchgear units offer superior insulation properties, ensuring safe and reliable operation even in harsh environmental conditions. Furthermore, the growing emphasis on modernizing aging infrastructure and improving grid reliability is bolstering segment growth.
Asia Pacific is expected to emerge as a lucrative region for the gas insulated transmission lines market during the forecast period. The rapid industrialization, urbanization, and infrastructural development initiatives in countries such as China, India, and Japan are driving the demand for robust and efficient power transmission systems. Additionally, the increasing investments in renewable energy projects across the region, coupled with the favorable government policies, aimed at enhancing energy security and grid resilience, are fostering market growth in Asia Pacific.
Gas Insulated Transmission Lines Market Share
Key players active in the global gas-insulated transmission lines business scenario include AZZ Inc., TBEA Energy, Beta Engineering, Grupo COBRA (ACS Group), Siemens AG, L&T Construction, Jiangnan Group Limited, General Electric, and others. They are striving to cut through the fierce competition through different strategic measures, including mergers, collaborations, product launches, and so forth.
Gas Insulated Transmission Lines Industry News
- In March 2022, Sterlite Power, a power transmission developer & solutions supplier in India and Brazil, was awarded a major transmission project in Jammu & Kashmir through tariff-based competitive bidding. The project includes a 400/132 kV gas-insulated substation in Kishtwar and a 400 kV line-in-line-out transmission line from Kishenpur to Dulhasti.