Global Gas insulated switchgear Market Size study, by Type (High voltage gas insulated switchgear and Medium voltage gas insulated switchgear), Voltage (Distribution voltage, Sub transmission voltage, High voltage, Extra-high voltage and Ultra-high voltag

Global Gas insulated switchgear Market Size study, by Type (High voltage gas insulated switchgear and Medium voltage gas insulated switchgear), Voltage (Distribution voltage, Sub transmission voltage, High voltage, Extra-high voltage and Ultra-high voltage), by technology (Hybrid switchgear, Integrated three phases, Compact gas insulated switchgear), by End-users (Power transmission utility, Power generation utility, Power distribution utility, Infrastructure and transportation and Industry & OEMs), by Installation (Indoor and Outdoor) and Regional Analysis, 2022-2029

Global Gas Insulated Switchgear Market is valued at approximately USD 21.73 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.3% over the forecast period 2022-2029. gas insulated switchgear is a small, metal-encased switchgear that is made up of high-voltage components like disconnectors and circuit breakers. This switchgear can be safely used in cramped areas. It has applications for power transmission, railroads, and the grid integration of renewable power producing units. . The market growth is primarily driven by the factors such as rising government initiatives towards improving electronic access, coupled with the growing investments in the transmission & distribution infrastructure.

The growing focus on renewable power generation is acting as a catalyzing factor for market growth worldwide. The International Energy Agency reported that wind energy has witnessed an electricity production rise of around 273 TWh in 2021 (up 17%), which is a 45% increase compared to 2020. Furthermore, according to Statista, the newly installed solar PV capacity constantly grows and reached 1,38,200 megawatts by the year 2020 globally, compared to 50,600 megawatts in 2015. Thereby, the rising government’s support and growing wind and solar PV competitiveness are the key factors that are encouraging the adoption of renewable energy, which, in turn, accelerates the market growth during the estimated years. In addition, the rising penetration of high voltage direct current technology and increasing investment in energy systems and smart grid are presenting various lucrative opportunity for the growth of market. However, the high cost of equipment as compared to Air-insulated switchgear and stringent environmental & safety regulations are the factors hampering the growth of the market over the forecast years.

The key regions considered for the Global Gas Insulated Switchgear Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia Pacific accounts for the largest share in the global gas insulted switchgear market due to the growing demand of electricity across the NA, as well as rising investment in clean power generation and electrification projects in the region. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the as rising industrialization and infrastructure, as well as increasing replacement of ageing power infrastructure in the market space.

Major market players included in this report are:
Eaton Corporation ABB Ltd.
Siemens
Schneider Electric
Mitsubishi Electric Corporation
GE Electric Company
Hitachi Ltd.
Hyundai Heavy Industries Co., Ltd.
Fuji Electric Co., Ltd.
Nissin Electric Co., Ltd

Recent Developments in the Market:
 In April 2022, ABB announced that the company entered into a partnership agreement with Samsung Electronics in order to provide jointly advanced technologies for energy management, energy savings, and the smart Internet of Things (IoT) connection of both commercial and residential buildings.
 In August 2020, Schneider Electric unveiled that the company completed a transaction to integrate its Low Voltage and Industrial Automation business across India with Larsen & Toubro’s Electrical & Automation business.

Global Gas Insulated Switchgear Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Voltage, Technology, End-User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:

High Voltage gas insulated switchgear
Medium Voltage gas insulated switchgear

By Voltage:

Distribution voltage
Sub transmission voltage
High voltage
Extra-high voltage
Ultra-high voltage

By Technology:
Hybrid switchgear
Integrated three phases
Compact gas insulated switchgear

By End-User:
Power transmission Utility
Power distribution Utility
Power generation Utility
Infrastructure and transportation
Industries & OEMs

By Installation:
Indoor
Outdoor

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

Eaton Corporation
ABB Ltd.
Siemens
Schneider Electric
Mitsubishi Electric Corporation
GE Electric Company
Hitachi Ltd.
Hyundai Heavy Industries Co., Ltd.
Fuji Electric Co., Ltd.
Nissin Electric Co., Ltd

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.