Gas Insulated Substation Market to 2023 – Growing Steady at 9.27% CAGR and Projected to Reach US$ 29.5 Billion

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The Gas-Insulated Substation Market is projected to reach US$ 29.5 Billion by 2023, from an estimated US$ 18.9 Billion in 2018, at a CAGR of 9.27%. This growth is primarily due to the rise in renewable power generation, increasing investments in the transmission & distribution infrastructure, escalating energy demand, limitations of space availability in densely populated urban areas, and government initiatives toward improving electricity access.

Top Key Players in the “Gas-Insulated Substation Market” include are
• Hitachi
• General Electric
• ABB
• Mitsubishi Electric
• Toshiba Corporation
• Larsen & Toubro
• Siemens AG
• CG Power and Industrial Solutions
• Hyosung
• Bharat Heavy Electricals Limited
• Tbea Co. Ltd.
• Elsewedy Electric

“The medium voltage segment is expected to grow at the highest CAGR from 2018 to 2023.”
Medium voltage gas insulated substation is expected to grow at the highest CAGR from 2018 to 2023. The market is primarily driven due to the rapid improvement in the power distribution sector through the implementation of smart grid and smart metering technology. This equipment is mainly used by the core sector, power generation, infrastructure, transportation, and distribution system industries.

“Asia Pacific: The largest market for gas-insulated substations.”
Asia Pacific is expected to account for the largest market share of the global gas-insulated substation market in 2018. This trend is projected to continue until 2023. It is the most populated region in the world and consequently witnesses a high demand for electricity. Countries such as China, Japan, and India are investing in their grid expansion projects to increase distribution grid reliability. China accounted for the largest share of the gas-insulated substation market in Asia Pacific in 2017 and is estimated to have the highest installed generation and distribution capacity during the forecast period. China, which is an export-oriented economy, has witnessed exponential growth in demand for electricity in the past couple of decades, fuelled by industrialization and infrastructural developments.

The Study Objectives of this report are:

• To forecast the growth of the gas-insulated substations market with respect to major regions (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)

• To provide detailed information on the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)

• To define, describe, and forecast the global gas-insulated substation market based on installation, voltage rating, end-user, and region

• To strategically analyze the gas-insulated substation market with respect to individual growth trends, future expansions, and contributions to the market

• To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders

• To analyze competitive developments such as mergers & acquisitions, expansions, new product developments, and contracts & agreements in the field of gas-insulated substations market

• To profile key players and comprehensively analyze their market ranking and core competencies

Complete report on Gas Insulated Substation Market spread across 132 pages, profiling 12 companies and supported with tables and figures is now available @ https://www.reportsnreports.com/purchase.aspx?name=1842434

Reason to buy this report:
The report will provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall gas-insulated substation market and the sub segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

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