Global Gas Insulated Switchgear Market Trends, Drivers and Opportunities 2018-2023: A $28 Billion Industry by 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jun 6, 2018--The “Gas Insulated Switchgear Market by Type, Voltage, Installation, End-User and Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The global gas insulated switchgear market is projected to reach USD 28.09 Billion by 2023, growing at a CAGR of 8.73%, from an estimated USD 18.48 Billion in 2018.
This growth can be attributed to the growth in renewable power generation, increasing investments in the transmission & distribution infrastructure, the rise in energy demand and limitations of space availability in densely populated urban areas, and government initiatives towards improving electricity access.
On the basis of end-user, the gas insulated switchgear market is segmented into power transmission utility, power distribution utility, power generation utility, infrastructure and transportation, and industries & OEMs. Power distribution utility is expected to grow at the highest CAGR during the forecast period. Space constraint is one of the major challenges in the development of distribution grid infrastructure projects which can be overcome by GIS substations and create new revenue pockets.
The gas insulated switchgear, by type, is segmented into high voltage gas insulated switchgear and medium voltage gas insulated switchgear. Medium voltage gas insulated switchgear is expected to grow at the highest CAGR during the forecast period. This segment is driven due to rapid improvement in the power distribution sector through the implementation of smart grid and smart metering technology, gas insulated switchgear are gaining importance over conventional switchgear and AIS.
The gas insulated switchgear market, by voltage, is segmented into distribution voltage, sub-transmission voltage, high voltage, extra high voltage, and ultra-high voltage. Extra high voltage is expected to grow at the highest CAGR during the forecast period. This segment is primarily driven by technical superiority of gas insulated switchgear over air and vacuum switchgear.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Gas Insulated Switchgear Market, By Type
7 Gas Insulated Switchgear Market, By Voltage
8 Gas Insulated Switchgear Market, By Installation
9 Gas Insulated Switchgear Market, By End-User
10 Gas Insulated Switchgear, By Region
11 Competitive Landscape
12 Company ProfilesABB CG Chint Fuji Electric GE Hitachi Hyosung Hyundai Heavy Industries Larsen & Toubro Meidensha Mitsubishi Electric Nissin Electric Schneider Electric Siemens Toshiba
For more information about this report visit https://www.researchandmarkets.com/research/4lzkzx/global_gas?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180606006176/en/
Laura Wood, Senior Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Electrical Switches
INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 06/06/2018 01:52 PM/DISC: 06/06/2018 05:46 PM