The global gas insulated switchgear market accounted for a value of USD 14.2 in 2019 and is projected to register growth at a CAGR of 8.1% during forecast period.
COVID-19 has impacted the gas insulated switchgear market. The manufacturing industries have to halt its production activities due to lockdown. The supply is also disrupted due to travel restriction. The ongoing projects are halted and the completion of various projects are delayed which has impacted gas insulted switchgear market adversely. This market will recover after all the projects start post COVID-19.
For more details, visit: Global Gas Insulated Switchgear Market By Insulation Type (SF6 & SF6 Free), By Installation (Indoor & Outdoor), By End-Users (Power Transmission Utility, Industries & OEM, and Commercial, Others) By Region, Forecast & Opportunities to 2026
The demand for power generation is increasing across various countries in the world. The urbanization and industrialization is increasing rapidly which increases demand for electricity across the globe. The people across the world are demanding uninterrupted power which increases demand for gas insulated switchgear. Thus, drives growth in gas insulated switchgear market during forecast period.
On the basis of insulation type, the gas insulated switchgear market is segmented into SF6 and SF6 Free. The SF6 segment is estimated to hold largest market share during forecast period. The gas insulated switchgear utilizes sulfur hexafluoride dielectric gas. The sulfur hexafluoride gas is also known as SF6. It uses SF6 at moderate pressure for phase-to-ground and phase-to-phase insulation. The SF6 is largely adopted across various end-users sue to its strong dielectric property. This drives growth in SF6 segment during forecast period.
On the basis of installation, the gas insulated switchgear market is segmented into indoor and outdoor. The indoor segment is estimated to be the fastest growing segment during forecast period. The indoor gas insulated switchgear is made of metal-clad type. All live pats are completely enclosed in an earthed metal casing in this construction. It is widely used in medium-voltage applications. It is commonly adopted in commercial and industrial segment. it helps in power stability. The demand for uninterrupted power is increasing around the world and this drives growth in indoor gas insulated switchgear market during forecast period.
On the basis of end-users, the gas insulated switchgear market is segmented into power transmission utility, power generation utility, power distribution utility, commercial, industries & OEM and railway & metros. The power transmission utility segmented is estimated to be the fastest growing market during forecast period. The demand for power generation is increasing because of growing population and rising urbanization. This increases the demand for transmission network around the world. The transmission network is expanding rapidly over the globe and this drives growth in power transmission utility market during forecast period.
Asia-Pacific region is estimated to be the fastest growing segment during forecast period. The demand for uninterrupted power is increasing in various countries such as Japan, India and China in Asia-Pacific region. The aging electrical infrastructure is upgrading widely across the world which results in high power requirements. It also increases the number of substations in this region. This ultimately increases the demand for gas insulated switchgear and drives growth in this region during forecast period.
The key market players in gas-insulated switchgear market are ABB, Siemens, Schneider Electric, General Electric, Eaton Corporation, Mitsubishi Electric, Hitachi, Hyundai Electric & Energy Systems, Fuji Electric, Crompton Greaves power & industrial Solutions, Larsen & Turbo, Meidensha Corporation, Powell Industries, Hyosung, Chint and Toshiba.
- What are the expected industry trends over the next three to five years?
- Which of the gas insulated switchgear insulation type is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?