Gas Insulated Switchgear Market Trends and Dynamics, Drivers, Competitive landscape and Future Opportunities
According to the latest report by IMARC Group titled, “Gas Insulated Switchgear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the market to exhibit a CAGR of around 8% during 2020-2025.
A gas insulated switchgear (GIS) is a metal-enclosed structure that comprises high-voltage components, such as circuit-breakers and disconnectors and sulfur hexafluoride gas. It is compact and requires less operation and maintenance costs as compared to an air insulation switchgear. As a result, it is widely installed in confined spaces, such as buildings, offshore platforms and industrial and hydropower plants.
An increase in the implementation of smart grids and smart metering technology has significantly improved the power distribution sector. This, in turn, is catalyzing the demand for gas insulated switchgear across the globe. Apart from this, owing to the increasing consumption of electricity worldwide, governments of several countries are investing in the upgradation of transmission and distribution (T&D) infrastructure, which is propelling the market growth. Furthermore, rising power consumption, especially in emerging economies, owing to numerous electrification projects, is anticipated to favor the market in the coming years.
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Insights on Market Segmentation:
Breakup by Type
1. High Voltage Gas Insulated Switchgear
2. Medium Voltage Gas Insulated Switchgear
3. Low Voltage Gas Insulated Switchgear
Breakup by Installation
1. Indoor
2. Outdoor
Breakup by Technology
1. Hybrid Switchgear
2. Integrated Three Phase
3. Compact Gas Insulated Switchgear
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/gas-insulated-switchgear-market
Breakup by Voltage
1. < 38 kV
2. 38 kV to 72 kV
3. 73 kV to 150 kV
4. > 150 kV
Breakup by End-Use Sector
1. Power Transmission
2. Power Distribution
3. Power Generation
4. Infrastructure and Transportation
5. Others
Breakup by Region
1. Asia Pacific
2. Europe
3. North America
4. Latin America
5. Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined with some of the key players being ABB, Alstom, Benchmarking, Bharat Heavy Electricals Limited, Eaton Corporation, General Electric Company, Hitachi, Larsen & Toubro, Meidensha, Mitsubishi Electric, Powell Industries, Schneider Electric, Siemens, Toshiba International Corporation, etc.
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