Leading players in Gas Insulated Switchgear Market include ABB (Switzerland), Siemens (Germany), Hitachi (Japan), Toshiba (Japan), and Nissin Electric (Japan) Contracts & agreements was the most commonly adopted strategy by top players. This was followed by new product developments, investments and expansions, joint ventures, partnerships, collaborations, and mergers & acquisitions.
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The global gas insulated switchgear market is estimated at USD 18.48 billion in 2018 and is projected to grow at a CAGR of 8.73% to reach USD 28.09 billion by 2023. This growth is primarily due to rise in renewable power generation, increasing investments in the transmission & distribution infrastructure, escalating energy demand, limitations of space availability in densely populated urban areas, and government initiatives towards improving electricity access.
Key Target Audience:
- Gas insulated switchgear manufacturers
- SF6 and other raw material producers
- Distributors & suppliers
- Manufacturing technology providers
- Industry, energy, and environmental associations
- Manufacturing & processing industries
- State utilities and the private players involved in transmission & distribution
- Power generation companies
- Players involved in infrastructure and transportation
- Government and research organizations
- Investment banks
Gas insulated switchgear market is segmented into power transmission utility, power distribution utility, power generation utility, infrastructure and transportation, and industries & OEMs.
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Power distribution utility is expected to grow at highest CAGR during forecast period. Space constraint is one of major challenges in the development of distribution grid infrastructure projects which can be overcome by GIS substations and create new revenue pockets.
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Asia Pacific is expected to account for the largest market share of the global gas insulated switchgear market in 2018. This trend is projected to continue till 2023.
It is the most populated region in the world and consequently witnesses a high demand for electricity. Countries such as China, Japan, and India are investing in their grid expansion projects to increase distribution grid reliability.
1 Attractive Opportunities in the Gas Insulated Switchgear Market
2 Asia Pacific Gas Insulated Switchgear Market Size, By End-User & Country
3 Gas Insulated Switchgear Market, By Country
4 Gas Insulated Switchgear Market, By Voltage
5 Gas Insulated Switchgear Market, By End-User
Blow molding resins market has been classified into packaging, automotive & transportation, construction & infrastructure, and others. Among applications, packaging segment of blow molding resins market is projected to grow at highest CAGR during forecast period.
Food & beverages, pharmaceutical, chemical, and personal care industries are major consumers of blow molded products in packaging applications, which are used to produce bottles, cans, and containers.
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Gas insulated switchgear market, by type, segmented into high voltage gas insulated switchgear and medium voltage gas insulated switchgear. Medium voltage gas insulated switchgear is expected to grow at highest CAGR during forecast period.
2 Market Share, By Value, 2016
3 Competitive Scenario
4 New Product Developments
5 Contracts & Agreements
6 Mergers & Acquisitions
8 Investments & Expansions
9 Joint Ventures
This segment driven due to rapid improvement in power distribution sector through implementation of smart grid and smart metering technology, gas insulated switchgear are gaining importance over conventional switchgear and AIS.
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