IMARC Group, a leading market research company, has recently released a report titled Gas Insulated Switchgear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027. The study provides a detailed analysis of the industry, including the global gas insulated switchgear market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Gas Insulated SwitchgearIndustry?
According to the report, The global gas insulated switchgear market size reached US$ 23.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 35.6 Billion by 2027, exhibiting a growth rate (CAGR) of 7.4% during 2022-2027.
What is Gas Insulated Switchgear?
Gas insulated switchgear (GIS) refers to a high-voltage unit that encapsulates compact metal structures consisting of various components, such as disconnectors, circuit breakers, switches, and relays. It uses an insulating medium, like sulfur hexafluoride (SF6), to isolate, control, vacuum, and protect electrical equipment during adverse conditions. As compared to air-insulated switchgear, GIS is more flexible, reliable, environment-friendly, cost-effective, and requires less maintenance. Consequently, it is primarily installed on the extensions of industrial plants, buildings, and offshore platforms.
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What are the growth prospects and trends in the Gas Insulated Switchgearindustry?
The rapid development of smart grids and increasing investments in renewable energy systems by governments of various nations to reduce carbon emissions are majorly driving the global GIS market. Rising urbanization and industrialization have led to an increase in global power consumption, which is further propelling market growth. Additionally, there has been an increase in the utilization of GIS to establish efficient distribution channels and transmission lines in numerous emerging economies, which is acting as another growth-inducing factor.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- 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
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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Type:
- High Voltage GIS
- Medium Voltage GIS
- Low Voltage GIS
Breakup by Installation:
- Indoor
- Outdoor
Breakup by Technology:
- Hybrid Switchgear
- Integrated Three Phase
- Compact Gas Insulated Switchgear
Breakup by Voltage:
- 38 kV
- 38 kV to 72 kV
- 73 kV to 150 kV
- 150 kV
Breakup by End-Use Sector:
- Power Transmission
- Power Distribution
- Power Generation
- Infrastructure and Transportation
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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