Global Gas Insulated Switchgear Market Synopsis
Gas
Insulated Switchgear (GIS) is a metal enclosed switchgear that consists of
components such as circuit breakers and disconnectors. Market Research Future
(MRFR) has published a research report about the global gas insulated switchgear market that foretells
advancement for this market at 8.77% CAGR (Compound Annual Growth Rate) during
the forecast period between 2016 and 2023.
The key
factors driving the global gas insulated switchgear market growth include a significant
increase in electric power consumption and demand for electricity due to numerous
electrification projects in several developing countries. Another factor
contributing to market growth is the growing power consumption rate across developed
countries.
Gas Insulated Switchgear Market Segmentation
The
global gas insulated switchgear market has been segmented on the basis of the
end users, installation, voltage, and lastly, region.
Based on
end-users, this market has been segmented into infrastructure &
transportation, transmission & distribution, and manufacturing.
The
installation-based segmentation segments the market into indoor installation
and outdoor installation.
Regarding
voltage, the market has been segmented into up to 36 Kilo Volt (kV) and above
36 kV.
Key Players:
·
ABB
(Switzerland),
·
CG Power
(India),
·
Fuji
Electric (Japan),
·
General
Electric (USA),
·
Hyosung
(China),
·
Larsen
&Toubro (India),
·
Mitsubishi
Electric (Japan),
·
Nisin
Electric (Japan),
·
Siemens
(Germany), and
·
Toshiba
(Japan).
Regional Analysis
The
regional segmentation of the global gas insulated
switchgear market can segment the market
into the regional markets namely North America, Europe, Asia Pacific, South
America, and the Middle East & Africa (MEA).
Asia
Pacific region is the biggest regional market because countries like China,
India, and Japan are investing in their grid expansion projects in order to
increase distribution grid reliability. In these countries, the demand for
electricity is growing due to industrialization and infrastructural
developments. China, India, and Indonesia are also investing heavily in their
hydroelectric power projects, leading to growing investments in transmission
& distribution sector by connecting renewable energy generation to the
grid. This is expected to boost the market for gas insulated switchgear in this
region. Another important country-specific market in this region is Australia,
followed by the remaining countries of the Asia Pacific region.
Europe
is another significant regional market primarily due to the vibrant automotive
industry, the presence of many key market players, and the technological
advancement that is second only to North America. The vital country-specific
markets in this region are France, Germany, Italy, Russia, and the UK, followed
by remaining countries of Europe.
North
America is another crucial regional market due to technological advancement and
the presence of many key market players. The maximum-revenue generating
country-specific markets in this region are the USA, Canada, and Mexico.
South
America is a smaller market because the availability of advanced technology is
limited in this region. The key country, specific markets in this region are
Argentina and Brazil, followed by the remaining countries of South America.
In the
MEA region, the market is limited due to poor countries, lack of awareness,
lack of education, lack of skilled labor, and lack of technological
advancement. The main country-specific markets in this region are Saudi Arabia,
Qatar, and UAE, followed by the remaining countries of the MEA region.
Browse Complete Gas Insulated Switchgear Market Report
at: https://www.marketresearchfuture.com/reports/gas-insulated-switchgear-market-1108
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