The report "Gas Insulated Switchgear Market by Type (High & Medium), Sub-Type (Primary & Secondary), End-User (Transmission & Distribution, Manufacturing & Processing, Infrastructure & Transportation and Power Generation) & Region - Global Forecast to 2021" projects the market to grow at a CAGR of 9.4%the market to hit USD 25.95 Billion by 2021
Browse 141 market data tables and 47 figures spread through 190 pages and in-depth TOC on “Gas Insulated Switchgear Market by Type (High & Medium), Sub-Type (Primary & Secondary), End-User (Transmission & Distribution, Manufacturing & Processing, Infrastructure & Transportation and Power Generation) & Region - Global Forecast to 2021” http://www.rnrmarketresearch.com/gas-insulated-switchgear-gis-market-by-type-high-medium-sub-type-primary-secondary-end-user-transmission-distribution-manufacturing-processing-infrastructure-transportation-and-po-market-report.html
The gas insulated switchgear market is expected to reach a market size of USD 25.95 billion by 2021, at a CAGR of 9.4% from 2016 to 2021. Gas insulated switchgear are used to control, protect, and isolate electrical equipment in power systems. Investments in transmission & distribution infrastructure, infrastructure & transportation, and power generation sectors in GCC (Gulf Cooperation Council) countries is driving the demand of gas insulated switchgear in the region. Compact design of the switchgear, higher efficiency as compared to conventional switchgear, solid insulated switchgear, and air insulated switchgear, high serving life, and low maintenance is expected to drive the growth of the gas insulated switchgear market. High cost of equipment as compared to air insulated switchgear affects the revenue of established players.
Among the two major types of gas insulated switchgear: high voltage and medium voltage, the former held the largest market share in 2015. High voltage gas insulated switchgear are efficient to transmit electricity at high voltage, extra high voltage, and ultra-high voltage level. In many cases, the renewable energy generator is directly connected to the national grid, which generates electricity of high-voltage or ultra-high voltage level. At such instances, due to its less space consumption, high voltage gas insulated switchgear are widely used in many developed and populated nations, which have space constraints.
Medium voltage gas insulated switchgear is the fastest growing segment in the global gas insulated switchgear market in 2015. It continues to hold the highest position during the forecast period, due to rising demand for power distribution in urban areas that need compact and efficient solution such as medium voltage gas insulated switchgear at substations.
In GCC (Gulf Cooperation Council) countries, the fastest growth of the gas insulated switchgear market is attributed to the existing huge manufacturing and processing sector, and growing power generation segments. The GCC countries have plans to restructure their power sectors, thereby encouraging the private sector to invest in this industry. There is an increase in demand for power in the region due to rapid population, commercial, and industrial growth in their respective countries. The GCC power grid has helped power sector in the region to transform into a major trading market.
The report provides a picture on gas insulated switchgear across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as type, application, service, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
- The report identifies and addresses key markets for gas insulated switchgear market, which is useful for suppliers to review the growth in demand for the product.
- The report helps solution providers to understand the pulse of the market and provides insights on drivers, restraints, and challenges.
- The report will help key players to better understand the competitor’s strategies and will help in making strategic decisions.
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