“According to the research report, the global gas insulated switchgear (GIS) market was valued at USD 21.85 billion in 2021 and is expected to reach USD 38.50 billion by 2030, to grow at a CAGR of 6.7% during the forecast period.”
The latest study released by Polaris Market Research titled Gas Insulated Switchgear Market: By Size, Latest Trends, Share, Huge Growth, Segments, Analysis and Forecast, 2032 evaluates market size, trend, and forecast. The report deeps dive into market data by covering key business segments and wide scope geographies.
The report delivers significant research data and proof to be a ready-to-access and self-analyzed study for managers, analysts, industry experts, and other key people, assisting them in making crucial business decisions. The report comprises qualitative and quantitative information on the Gas Insulated Switchgear Market that provides historical data and growth forecast. It covers recent developments, technologies, and the changing investment structure of the market. The report is showcased with self-explained tables and charts in a presentable format.
The growing demand for gas insulated switchgear is due to the rising electricity demand and increasing investments in transmission and distribution infrastructure. Furthermore, it has a wide application in industrial complexes, underground substations, and power transmissions, accelerating market growth.
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The growing demand for gas insulated switchgear (GIS) is due to its high flexibility and reliability, reducing its size and requiring less installation space. In addition, it has a significant application on offshore platforms, an extension of city buildings, and various industrial plants. Moreover, this switchgear is highly sensitive and monitors pollution efficiently, driving the market growth.
The COVID-19 pandemic negatively impacted the demand for GIS as many commercial, residential, and industrial projects were standstill owing to the global lockdown. Moreover, lack of skilled labor and raw materials required for manufacturing the components resulted in delayed production and hampered the market.
Top Key Players:
- ABB
- Alstom
- Bharat Heavy Electricals Limited
- CG Power
- Eaton Corporation
- Fuji Electric
- General Electric Company
- Hitachi
- Hyosung
- Hyundai Electric & Energy Systems Co. Ltd.
- Larsen & Turbo
- Meidensha
- Mitsubishi Electric
- Nisin Electric
- Ormazabal
- Powell Industries
- Schneider Electric
- Siemens
- Toshiba Energy Systems & Solutions Corporation
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Gas Insulated Switchgear Market Report Highlights
- The growing demand for outdoor installations is due to the increasing demand for electricity consumption which led to the development and upgradation of the energy grid.
- The above 220kV voltage rating accounted for the highest revenue share in 2021 and is expected to continue its dominance owing to rising investment in green and renewable energy sources. In addition, the demand for power transmission over the long range is expected to boost segment growth.
- Hybrid GIS is expected to lead the market growth owing to its effective installation time, environmentally friendly nature, and deployment under less space.
- Asia Pacific is expected to grow over the forecast period because of increasing energy consumption, government emphasis on energy efficiency, and the upgradation of electric infrastructure across China, Japan, and India.
Polaris Market Research has segmented the gas insulated switchgear market report based on installations, insulation, voltage ratings, configurations, end-use, and region:
Gas Insulated Switchgear, Installations Outlook (Revenue – USD Billion)
- Indoor
- Outdoor
Gas Insulated Switchgear, Insulations Outlook (Revenue – USD Billion)
- SF6
- SF6 Free
Gas Insulated Switchgear, Voltage Ratings Outlook (Revenue – USD Billion)
- Up To 36 KV
- 37 To 73 KV
- 74 To 220 KV
- Above 220 KV
Gas Insulated Switchgear, Configurations Outlook (Revenue – USD Billion)
- Hybrid
- Isolated Phase
- Integrated Three Phases
- Compact GIS
Gas Insulated Switchgear, End-Use Outlook (Revenue – USD Billion)
- Power Transmission Utilities
- Power Distribution Utilities
- Power Generation Utilities
- Railways & Metros
- Industries & OEM
- Commercial
Gas Insulated Switchgear, Regional Outlook (Revenue – USD Billion)
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Key Questions Answered with This Study
- What makes the market feasible for long-term investment?
- What geographic region would have better demand for products/services?
- What opportunity emerging territory would offer to established and new entrants in the market?
- How influencing factors driving the demand for Gas Insulated Switchgear Market in the next few years?
- What is the impact analysis of various factors in the market growth?
- What strategies of major players help them acquire share in a mature market?
- What are the recent trends in the regional market?
- What will be the market-based future possibilities, development patterns, and Gas Insulated Switchgear Market elements?
Report Summary
Moreover, the study estimates the price and trend forecast, the sales and growth rate forecast, and the forecast of the production growth rate of the global and regional markets for Gas Insulated Switchgear Market for the forecast period. The analysis of the main raw materials, the analysis of the production cost structure, the analysis of the manufacturing process, and the analysis of the industrial chain have been given. Also, data points related to the product consumption value and the product consumption volume, along with the import and export status of the products, are included in this article.
Browse market data Tables and Figures and in-depth TOC on Gas Insulated Switchgear Market Forecast Report (2023-2032) @ https://www.polarismarketresearch.com/industry-analysis/gas-insulated-switchgear-market
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