Gas Insulated Power Equipment Market is anticipated to witness an annual growth rate of over 8% by 2025 Eminent participants are Schneider Electric, Siemens AG, Mitsubishi, Chint Group, Hyosung, Xi'an XD Switchgear Electric, AZZ, and Meidensha Corporation

The global gas insulated power equipment market is poised to experience steady expansion over the ensuing years, owing to the increased demand for compact substations for decreasing the overall maintenance requirements, project space, and cost. The demand for gas insulated power units will be primarily led by factors like burgeoning energy demand, adoption of renewable energy sources, and increasing expenditure on electrification among others.

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Powered by population increase, the worldwide demand for energy is surging, while developed nations continue to consume massive amounts of energy, the demand across developing nations is escalating at rapid pace. Numbers released by the UN DESA report suggest that the global population would reach 8.5 billion by 2030 and 9.7 billion by 2050. Growth will mainly be observed in developing nations, where the increasing standard of living will generate a higher demand for energy resources. Additionally, technological advancement boosts the availability of energy-consuming products. The integration of conventional power infrastructure to meet the growing power demand from emerging nations will propel the gas insulated power equipment industry.

The paradigm shift in electrification to reduce emissions and embrace alternative energy sources will spike the need for sustainable electric infrastructure in the coming years. Increasing investment to integrate robust grid infrastructure, enhance power transmission capacity, and to modernize existing electrical infrastructure will drive the gas insulated power equipment industry. For instance, electric cars can significantly reduce emissions, and countries like Denmark are investing immensely to expand and upgrade their present electricity grid infrastructure to become an all-electric vehicle nation in the foreseeable years. In this backdrop, it can be assumed that increasing electrification initiatives will surge the demand for gas insulated transmission lines and GIS apparatus, thereby proliferating the gas insulated power equipment market in the following years.

Climate change and global carbon emission from power generation are two of the major challenges witnessed by the current generation, but amidst these issues lies a huge opportunity for the gas insulated power equipment market growth. To prevent emission, several nations have already adopted energy generation from renewable sources, which could potentially result in a massive demand for advanced and compatible electrical infrastructure.

According to estimates by the International Renewable Energy Agency, the share of renewable in the overall energy mix throughout all nations is estimated to surpass 40 percent and, in some nations, the share is likely to surge up to 60 percent by the year 2050. The use of clean energy will require the integration of compatible renewable grid networks and substations, which in return will boost product demand in the near future.

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As the power sector gets digitally empowered, industry leaders will upgrade their offerings to satisfy evolving market needs. Government bodies or organizations that have already started implementing such updates would stay ahead of their counterparts. The role of digitization in transforming the energy sector will emerge to be a significant factor over the coming years, pushing companies to initiate grid modernization to improve operational efficiency and to assure effective network planning. Technology upgradations will require the establishment of gas insulated transmission lines projects, which will boost the gas insulated power equipment industry growth in the future.

All in all, gas insulated power equipment are essential tools for the operational efficiency of the energy sector. Provided that there is a considerable increase in the electric power consumption and the demand is anticipated to grow on account of numerous electrification projects, the gas insulated power equipment industry will continue to experience substantial momentum. A report by Global Market Insights, Inc. projects the global gas insulated power equipment market to be worth more than $30 billion by 2025.

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The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
• Definition and scope of research
• Market dynamics, growth drivers and industry pitfalls
• Regulatory and political guidelines for the industry
• Demographics and statistical data
All the above factors are identified and analyzed in detail, with their present and expected market impact, which is quantified and used to derive market growth expectation. Market forecast is built using statistical analysis with models built around time-variance, regression and correlation analytics.

Significant emphasis is put on primary research, which serves the dual role or not only validating our findings but also obtaining penetrating market insights, which help us gain more clarity regarding business environment and competitive leverage. Notable participants in our primary research process include:
• Leadership figures such as CEOs, CSOs, VPs etc. in key companies
• Supply-chain participants, distributors and domain experts
• Key customers and B2B clients

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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research

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