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Gas Insulated Switchgear Market Will Grow at Remarkably Owing to Rising Investments in Transmission and Distribution Infrastructure

·8-min read

Top Key Players of Gas Insulated Switchgear Market:- Siemens, Fuji Electric, Mitsubishi Electric Corporation, Hitachi, Ltd., Nissin Electric Co Ltd, ABB, Schneider Electric, Ltd., Eaton, GE, Toshiba International Corporation, Larsen & Toubro, Other Players.

Pune, India, Sept. 27, 2021 (GLOBE NEWSWIRE) -- The global gas insulated switchgear market size is projected to reach USD 36.60 billion by 2026 on account of the increasing demand for energy worldwide. Gas insulated switchgear is a substation with high voltage wherein major electrical equipment is placed in a sealed environment with an insulating medium, i.e., sulfur hexafluoride gas or SF6. All electrical switching equipment such as busbars, earth switches, isolators, circuit breakers, and others are completely enclosed inside modules filled with the SF6 gas. A recently published report by Fortune Business Insights™ titled, “Gas Insulated Switchgear Market Size, Share and Industry Analysis, By Voltage (Up to 66 kV, 66 kV - 170 kV, 170 kV - 550 kV, and Above 550 kV), By Installation (Indoor and Outdoor), By End User (Utility, Industrial, Commercial, and Others), and Regional Forecast, 2019-2026.” offers a comprehensive overview of the market and its prime growth trajectories. According to this report, the market value stood at USD 21.13 billion in 2018 and will rise at a CAGR of 7.2% during the forecast period, 2019 to 2026.

What is the Scope of the Report?

The Gas Insulated Switchgear Market report offers a 360-degree overview of the market and factors promoting and demoting growth, accompanied by challenges and upcoming opportunities. It discusses the competitive landscape of the market, list of players operating in the market, and the key strategies adopted by them, to reach for the top position during the forecast period. Besides this, the report throws light on significant industry developments, current market trends of gas insulated switchgear, and other interesting insights into the market. Furthermore, the report Is available for sale on the company website.

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The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this, too, shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling, and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Regional Segmentation:

Upgradation of Hydropower Plants Will Help Europe Dominate Market

Geographically, Europe will hold the dominant gas insulated switchgear market share on account of upgradation of hydropower plants, increasing power consumption, and government initiatives that were taken for improving grid infrastructure. Additionally, the increasing investments in the expansion of distribution and transmission networks will help Asia Pacific hold a notable share. Besides this, the North America market will witness significant growth on account of major investments made for the enhancement of transmission, distribution, and the overall performance of the generation of electric power for avoiding losses. Most companies located in this region are acquiring their substation for efficient and reliable power transmission which will ultimately add significant value to the regional market.

The Middle East and Africa market, on the other hand, will rise remarkably on account of the dominance of oil and gas plants that further emphasizes the enhancement of distribution and transmission of electric power. Countries in Africa are emphasizing on increasing their grid infrastructure for aiding in the expansion of the market in the forecast period.

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Market Drivers
Improving Grid Infrastructure Will Aid in Expansion of Market

Factors adding momentum to the gas insulated switchgear market growth include the increasing demand for energy and power, rise in construction and upgradation of the power grid, and the rise in investments in transmission and distribution infrastructure. On the contrary, factors such as the high cost of equipment and stringent government laws imposed on environment and safety regulations will affect the market negatively. Nevertheless, the increasing focus on renewable energy production is likely to create lucrative growth opportunities for the market in the forecast duration.

Competitive Landscape:
Heavy Investments on Construction of New Substations to Bode Well for Players

Players operating in the global market for gas insulated switchgear are adopting various strategies to gain a competitive edge in the market. These strategies include mergers and acquisitions, contracts, agreements, and partnerships, joint ventures, and others. Players are also investing heavy amounts on the construction of new substations for attracting high gas insulated switchgear market revenue in the forthcoming years.

Key Industry Developments of the Gas Insulated Switchgear Market include:

November 2018 – Bergenshalvoens Kommunale Kraftselskap (BKK Nett) awarded a contract to Siemens Energy Management for supplying the world’s first SF6-free GIS with vacuum and clean air interruption systems for a voltage level of up to 145 kV.

December 2019 – Italy’s transmission system operator (TSO) awarded a USD 100 million contract to ABB for supplying GIS and building _high-voltage substations in Obermooweiler, Baden-Wuerttemberg.

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Gas Insulated Switchgear Market Share Report Scope and segmentation:

Report Coverage

Details

Forecast Period

2019 to 2026

Forecast Period 2019 to 2026 CAGR

7.2%

2026 Value Projection

USD 36.60 Billion

Base Year

2018

Market Size in 2018

USD 21.13 Billion

Historical Data for

2015 to 2017

No. of Pages

140

Segments covered

Voltage; Installation; and End User

Growth Drivers

Upgradation of Hydropower Plants Will Help Europe Dominate Market

Improving Grid Infrastructure Will Aid in Expansion of Market



Pitfalls & Challenges

High Equipment Cost Compared to Air Insulated Switchgear (AIS), Along with Stringent Environmental and Safety Regulations May Hamper Market

List of Gas Insulated Switchgear Market Manufacturers include:

  • Siemens

  • Fuji Electric

  • Mitsubishi Electric Corporation

  • Hitachi, Ltd.

  • Nissin Electric Co Ltd

  • Meidensha Corporation

  • CHEM Group

  • ABB

  • Schneider Electric

  • Hyundai Electric & Energy Systems Co., Ltd.

  • Eaton

  • GE

  • Toshiba International Corporation

  • Larsen & Toubro

  • Bharat Heavy Electricals Limited

  • Other Players

Quick Buy – Gas Insulated Switchgear Market:

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Table Of Content:

  • Introduction

    • Research Scope

    • Market Segmentation

    • Research Methodology

    • Definitions and Assumptions

  • Executive Summary

  • Market Dynamics

    • Market Drivers

    • Market Restraints

    • Market Opportunities

  • Key Insights

    • Key Emerging Trends – For Major Countries

    • Latest Technological Advancement

    • Regulatory Landscape

    • Industry SWOT Analysis

    • Porters Five Forces Analysis

  • Global Gas Insulated Switchgear Market Analysis (USD Billion), Insights and Forecast, 2015-2026

    • Key Findings / Summary

    • Market Analysis, Insights and Forecast – By Voltage

      • Up to 66 kV

      • 66 kV - 170 kV

      • 170 kV - 550 kV

      • Above 550 kV

    • Market Analysis, Insights and Forecast – By Installation

      • Indoor

      • Outdoor

    • Market Analysis, Insights and Forecast – By End-User

      • Utility

      • Industrial

      • Commercial

      • Others

    • Market Analysis, Insights and Forecast – By Region

      • North America

      • Latin America

      • Europe

      • Asia Pacific

      • Middle East and Africa

  • North America Gas Insulated Switchgear Market Analysis (USD Billion), Insights and Forecast, 2015-2026

    • Key Findings / Summary

    • Market Analysis, Insights and Forecast – By Voltage

      • Up to 66 kV

      • 66 kV - 170 kV

      • 170 kV - 550 kV

      • Above 550 kV

    • Gas Insulated Switchgear Market Analysis, Insights and Forecast – By Installation

      • Indoor

      • Outdoor

    • Market Analysis, Insights and Forecast – By End-User

      • Utility

      • Industrial

      • Commercial

      • Others

    • Market Analysis, Insights and Forecast – By Country

      • U.S.

      • Canada

TOC Continued…!
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