Stratview Research has published a new report on the Gas Insulated Switchgear Market, segmented by Type (High-Voltage Insulated Switchgear, Medium-Voltage Insulated Switchgear), by Voltage Type (Distribution Voltage, Sub-Transmission Voltage, High-Voltage Transmission, Extra High-Voltage Transmission, and Ultra-High Voltage Transmission), by Installation Type (Indoor Gas Insulated Switchgear, Outdoor Gas Insulated Switchgear, and Solid Bus Duct Connection & Cable Connection), by End-User Type (Power Transmission Utilities, Power Distribution Utilities, Power Generation Utilities, Infrastructure & Transportation, and Industries & OEMs), and by Region (North America, Europe, Asia-Pacific, and Rest of the World). This report provides critical insights into the market dynamics and enables strategic decision-making for the existing and new market players.

Market Highlights

The gas insulated switchgear market was estimated at USD 23 billion in 2022 and is likely to grow at a CAGR of 6.32% during 2022-2028 to reach USD 33.23 billion in 2028.

What is a gas insulated switchgear?

Gas Insulated Switchgear refers to a metal compact switchgear that has components of high voltage. These components are such that can be handled safely.

Gas Insulated Switchgear can be for both high-voltage and medium-voltage. The switchgear can be installed indoors, and outdoors, and also as a solid bus duct connection and cable connection.

COVID-19 IMPACT

The gas insulated switchgear market was negatively impacted by the global pandemic in the year 2020 due to the lockdowns and restrictions imposed throughout the globe.

Market Dynamics

The growth of the gas insulated switchgear market is primarily driven by-

• Growth in renewable power generation,
• Rise in energy demand,
• Increasing investments in transmission & distribution infrastructure,
• Government initiatives across the globe towards improving electricity access.

Segmentation –

This report studies the Gas Insulated Switchgear market and has segmented the market in a few ways, keeping in mind the concentration of all the stakeholders across the value chain. Following are the ways in which the market has been segmented in the report:

Based on the type, the market is segmented as high-voltage insulated switchgear and medium-voltage insulated switchgear. The medium-voltage insulated switchgear segment is expected to witness higher growth during the forecast period. Rapid improvement in the power distribution sector owing to the implementation of smart grid and smart metering technology along with the growing penetration of gas insulated switchgear are the major factors driving the growth of medium-voltage insulated switchgear.  

Based on the voltage type, the market is segmented as distribution voltage, sub-transmission voltage, high-voltage transmission, extra-high voltage transmission, and ultra-high voltage transmission. The extra high-voltage transmission segment is expected to witness the highest growth during the forecast period. The technical superiority of gas insulated switchgear over air and vacuum switchgear is the prime driver behind the high growth of the extra-high-voltage transmission segment.

Based on the end-user type, the market is segmented as power transmission utilities, power distribution utilities, power generation utilities, infrastructure & transportation, and industries & OEMs. The power distribution utility segment is expected to witness the highest growth in the coming five years. Rapid urbanization in developing economies and government initiatives towards the expansion of electricity in rural areas are the major factors in the high growth of the power distribution utility segment.

In terms of regions, Asia-Pacific is expected to witness the highest growth in the market during the forecast period. China South Korea, Japan, and India are the growth engines of the region. The market is driven by growing power consumption, government initiatives towards energy efficiency, and the upgradation of aging utility infrastructure in the region. North America and Europe are also expected to offer substantial growth opportunities in the market during the forecast period.

Key Players

• ABB Group,
• Siemens AG,
• Schneider Electric SE,
• Mitsubishi Electric Corporation,
• General Electric Company,
• Hitachi, Ltd.,
• Hyundai Heavy Industries Co., Ltd.,
• Fuji Electric Co., Ltd.,
• Nissin Electric Co., Ltd.,
• Larsen & Toubro Ltd.

About Stratview Research-

Stratview Research is a global market intelligence firm having a strong team of industry veterans and research analysts. Stratview Research has been serving multiple clients across a wide array of industries. Our services cover a broad spectrum of industries including but not limited to Energy Chemicals, Advanced Materials, Automotive, and Aerospace. At Stratview, we believe in building long term relations with our clients.

Connect with our team here–
https://www.stratviewresearch.com/contact

Or

Call us @:  +1-313-307-4176