The main players in the gas insulated switchgear market:-Siemens, Fuji Electric, Mitsubishi Electric, Hitachi, Nisshin, ABB, Schneider Electric, Eaton, General Electric, Toshiba International, Larsen & Toubro, and other players.
Pune, India, September 27, 2021 (GLOBE NEWSWIRE) – Due to the increasing global energy demand, the global gas insulated switchgear market is expected to reach 36.6 billion U.S. dollars by 2026. Gas-insulated switchgear is a high-voltage substation. The main electrical equipment is placed in a sealed environment, and the insulating medium is sulfur hexafluoride gas or SF6. All electrical switchgears, such as busbars, grounding switches, isolators, circuit breakers, etc., are completely enclosed in a module filled with SF6 gas. A report recently released by Fortune Business Insights™, titled “Gas Insulated Switchgear Market Size, Share and Industry Analysis, by Voltage (up to 66 kV, 66 kV-170 kV, 170 kV-550 kV and above 550 kV)” , Author: Installation (indoor and outdoor), end users (utilities, industrial, commercial and other) and regional forecasts, 2019-2026. “Provides a comprehensive overview of the market and its main growth trajectories. According to this report, the market value in 2018 was $21.13 billion and will grow at a compound annual growth rate of 7.2% during the forecast period from 2019 to 2026.
The gas insulated switchgear market report provides a 360-degree overview of the market and the factors that promote and reduce growth, along with challenges and upcoming opportunities. It discusses the competitive landscape of the market, the list of participants operating in the market, and the key strategies they have adopted to reach the highest position during the forecast period. In addition, the report also reveals important industry developments, current market trends for gas insulated switchgear, and other interesting insights into the market. In addition, the report can be sold on the company’s website.
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Geographically, Europe will dominate the gas-insulated switchgear market due to the upgrade of hydroelectric power plants, the increase in power consumption, and the government’s initiatives to improve grid infrastructure. In addition, increasing investment in the expansion of power distribution and transmission networks will help the Asia-Pacific region occupy a significant share. In addition, the North American market will see significant growth due to major investments to improve the overall performance of power transmission and distribution and power generation to avoid losses. Most companies located in the region are acquiring their substations to achieve efficient and reliable power transmission, which will ultimately add significant value to the regional market.
On the other hand, as the dominance of oil and gas plants further emphasizes the strengthening of power distribution and transmission, the markets in the Middle East and Africa will grow significantly. African countries are emphasizing on increasing their grid infrastructure to help expand the market during the forecast period.
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The factors driving the growth of the gas insulated switchgear market include the increase in energy and power demand, the increase in power grid construction and upgrading, and the increase in investment in transmission and distribution infrastructure. On the contrary, factors such as high equipment costs and strict laws imposed by the government on environmental and safety regulations will have a negative impact on the market. Nevertheless, the growing focus on renewable energy production may create profitable growth opportunities for the market during the forecast period.
Participants operating in the global gas insulated switchgear market are adopting various strategies to gain market competitive advantage. These strategies include mergers and acquisitions, contracts, agreements and partnerships, joint ventures, etc. Participants also invested heavily in the construction of new substations in order to attract high gas insulated switchgear market revenue in the next few years.
November 2018 – Bergenshalvoens Kommunale Kraftselskap (BKK Nett) signed a contract with Siemens Energy Management to provide the world’s first SF6-free GIS with a vacuum and clean air interruption system with a voltage level of up to 145 kV.
December 2019-The Italian Transmission System Operator (TSO) signed a $100 million contract with ABB to provide GIS and build high-voltage substations in Obermooweiler, Baden-Württemberg.
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Compared with air-insulated switchgear (AIS), the equipment cost is high, and strict environmental and safety regulations may hinder market development
North American Gas Insulated Switchgear Market Analysis (Billion USD), Insights and Forecasts, 2015-2026
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Post time: Oct-04-2021