Global gas insulated switchgear market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 9.5% during the forecast period.
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Market Definition
A switchgearconsists of a variety of electrical circuit breakers, fuses, andswitches and is basically used to protect, isolate, and control various electrical equipment in an electric power industry. Gas insulated switchgear (GIS) is a metal switchgear that consists of high-voltage devices such as disconnectors and circuit-breakers to safely function in constricted spaces.
Market Dynamics
The gas insulated switchgear market is one of the fastest growingsectors,helping extensively in the growth of global power sector.In the forecasted period, the gas insulated switchgear industry is expected to show immense growth.The increasing demand for power and electricity in the emerging industries and the considerable electrification thrust in therural areas is poised to maintain the gas insulated switchgear industryduring the forecast period. A rising government initiatives and investments to reduce carbon emissions and to drive renewable energy projects, growing improvements in smart infrastructure and surge in the adoption of HVDC technology are expected to improve the growth of the market in the coming years.
However, rising competition from disjointed or unorganized switchgear markets, negative impacts of COVID-19 pandemic and thus postponement of grid development projects are major restraining factors that could hamper the growth of the market.
Global Gas Insulated Switchgear Market: Segmentation Analysis
By insulation type, segment dominated the market in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. stands for sulphur hexaflouride. It is a nontoxic, inert, colourless, tasteless, non-flammable and odourless gas which consists of a sulphur atom enclosed by six fluorine atoms. Rising adoption of as an insulation material in GIS for phase-to-ground and phase-to-phase insulation is attributed to the growth of the market. Additionally, rising applications of in distribution and transmission systems and in power generation substations owing to its strong dielectric characteristics is further expanding the growth of the market.
By end-user, the power transmission utility segment projected to witness fast growth at CAGR of XX% during the forecast period. Continuous increasing requirement for power and electricity caused by growing industrialization and urbanization together with an increasing population is resulting into the more need for transmission network across the globe.
By installation, the indoor segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. Indoor switchgear is basically of two types such as metal clad and metal enclosed. Increasing applications of indoor switchgears for medium voltages such as up to 36 kV applications and recent advancements in indoor switchgear to effectively utilize it for high voltages is driving the growth of the market. Moreover, indoor switchgear provides some benefits such as increased reliability and safety, requirement of lesser space than the outdoor system, low operation costs, improved durability and easy maintenance, which are making them more demandable in several end user industries.
Global Gas Insulated Switchgear Market: Regional Analysis
Region-wise, Asia pacific held the largest market share in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. The economies such as China, Japan, South Korea, and India are the major key contributors behind the growth of the market. The growth is attributed to the increasing demand of electricity and power in developing economies.China is an extremely engaging market for gas insulation switchgears and its components.
Growing number of gas insulation substations, rising power necessity, need for developments inaged electrical infrastructure, rising government investments in hydroelectric power projects and increasing applications of gas insulation switchgears in city buildings, on offshore platforms, on roofs, hydropower plants and industrial plants are driving the growth of the market in the APAC region.In addition, surge in the adoption of GIS up to 36 kV voltage rating, in Indian railway system is propelling the growth of the market.
The objective of the report is to present a comprehensive analysis of the Global Gas Insulated Switchgear Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Gas Insulated Switchgear Market dynamics, structure by analyzing the market segments and projects the Global Gas Insulated Switchgear Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Gas Insulated Switchgear Market make the report investor’s guide.
The Scope of Global Gas Insulated Switchgear Market
Global Gas Insulated Switchgear Market, By Insulation Type
SF6
SF6-Free
Global Gas Insulated Switchgear Market, By Installation
Indoor
Outdoor
Global Gas Insulated Switchgear Market, By Voltage Rating
Up to 36 kV
Between 36 kV and 72.5 kV
Between 72.5 kV and 220 kV
Above 220 kV
Global Gas Insulated Switchgear Market, By End User
Power Transmission Utility
Power Generation Utility
Power Distribution Utility
Railways & Metros
Industrial & OEMs
Commercial
Global Gas Insulated Switchgear Market, By Region
North America
Europe
Asia Pacific
South America
Middle East and Africa
Global Gas Insulated Switchgear Market, Key Players
ABB
Schneider Electric
Eaton Corporation
Hitachi
Mitsubishi Electric
Larsen &Toubro
Industrial Solutions Limited
Hyosung
Toshiba
CG Power
Tenaga Switchgear Sdn. Bhd
Orecco
XX
XX
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