Gas Insulated Transformer Market Share, Growth, Industry Segments, Competitor Landscape, Key Players, Trends and Forecasts 2023

Market Highlights

Gas Insulated transformers are eco-friendly, non-explosive and non-flammable it is widely adopted by underground stations and places where there is scarcity of space. It is free from emission and the gas used is also non-toxic in nature. Countries in Asia-Pacific are increasing their dependence on renewable energy, which has increased the growth of gas insulated transformer market and is projected to grow at substantial rate, during its forecast period.

Based on Installation, the market is segmented into indoor and outdoor Installation. Indoor segment is estimated to dominate the market during the forecast period due to the increasing underground power station, underground shopping centers, hydroelectric power plant, thermal power plant, chemical plants and public water facilities. Considering the voltage rating, the market is segmented as medium voltage, high voltage and extra high voltage. Extra high voltage segment is estimated to dominate the market during the forecast period with the increasing number of projects for grid expansion and injection of funds by the government. Based on end-use, the market is segmented as utility, industrial, and commercial.

The global gas insulated transformer market is expected to grow at 5.23% CAGR during the forecast period.

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Market Research Analysis

Asia-Pacific accounts for the largest market share whereas Europe is the fastest growing region.

Region wise, Asia-Pacific held the largest market share of the global gas insulated transformer market in 2017. It is estimated that Asia-Pacific will continue to dominate the market during the forecast period, mainly due to the rising adoption of renewable energy and increasing integration of power system. This region has huge market potential due to rising infrastructural development plans and allocation of funds from the government. Europe is the second largest market due to the increasing funds and grid expansion projects. It has been estimated that Asia-Pacific will grow at the highest rate during the forecast period.

Scope of the Report

This report provides an in-depth analysis of the global gas insulated transformer market, tracking five market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia-Pacific and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Gas Insulated Transformer market by its type, voltage rating, installation, type of cooling, end-user and by region.

By Type
Instrument Transformer
Others

By Voltage Rating
Medium Voltage
High Voltage
Extra High Voltage

By Installation
Outdoor
Indoor

By Type of Cooling
Gas Directed Air Natural Cooling
Gas Directed Air Forced Cooling
Gas Directed Water Forced Cooling

By End-User
Utility
Industrial
Commercial

By Regions
North America
Asia-Pacific
Europe
Rest of the World

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Key Players

The key players of global gas insulated transformer market are ABB Ltd. (Switzerland), General Electric (US), Mitsubishi Electric Corporation (Japan), Siemens AG(Germany), Toshiba Corporation (Japan), Arteche (Spain), Meidensha Corporation (Japan), Takaoka Toko Co., Ltd (Japan), Fuji Electric co., Ltd. (Japan), and Chint Group (China).

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This release was published on openPR.