Press release
Gas Insulated Power Equipment Market by Top Companies, Trends by Types and Application, Forecast to 2025 | AZZ, Inc., Ormazabal Electric, Meidensha Corp., Xi'an XD Switchgear Electric, Chint Group, Larsen & Toubro, ILJIN Electric, Fuji Electric, Hyundai E
global gas insulated power equipment market expected to grow with a CAGR of 8% during the period of 2019-2025. The report states that rising adoption of sustainable technologies coupled with increasing application of gas insulated power equipment for its space and cost reduction benefits is stimulating the industry outlook. Moreover, increasing dependency on electricity along with favorable government initiatives towards reducing transmission losses are fostering the demand for the product.
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Considering the geographical landscape, the report cites that gas insulated power equipment industry in Asia-Pacific is expected to register substantial growth during the forecast period. Increasing consumption of electricity across residential and commercial sectors has encouraged the governments of various developing regions to install effective grid networks, which in turn is augmenting the demand for gas insulated power equipment.
According to the report, growing demand for compact substation devices in order to reduce space requirements as well as to lower maintenance and project costs is driving the gas insulated power equipment market growth. The product offers benefits such as superior safety features, operational flexibility, low space requirement, and high overload capacity. It also provides high short-circuit endurance, low electromagnetic field emission, high-power ratings, and auto-reclosing functionality. Thus, aforementioned factors together with shifting focus towards optimizing HVDC & HVAC transmission technologies are further aiding the market expansion.
Although, traditional switchgear technologies such as air insulated and vacuum products are easily available as an alternative to gas insulated power equipment, various industry players are focusing on developing advanced gas insulated transmission lines to reduce the environmental impact. This factor along with non-flammable and minimal electrical ageing properties of the product are facilitating the business scenario.
AZZ, Inc., Ormazabal Electric, Meidensha Corp., Xi'an XD Switchgear Electric, Chint Group, Larsen & Toubro, ILJIN Electric, Fuji Electric, Hyundai Electric & Energy Systems, Hyosung Heavy Indsutries, CG Power & Industrial Solutions Ltd., Hitachi Ltd., Bharat Heavy Electricals Ltd., Siemens, Schneider Electric, Toshiba Corp., Mitsubishi Electric Corp., General Electric, and ABB Ltd. are the prominent companies operating in the gas insulated power equipment industry.
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Frequently Asked Questions (FAQ) :
What factors are leading to growth of gas insulated power equipment industry?
According to the report, growing demand for compact substation devices in order to reduce space requirements as well as to lower maintenance and project costs is driving the gas insulated power equipment market growth. The product offers benefits such as superior safety features, operational flexibility, low space requirement, and high overload capacity. It also provides high short-circuit endurance, low electromagnetic field emission, high-power ratings, and auto-reclosing functionality. Thus, aforementioned factors together with shifting focus towards optimizing HVDC & HVAC transmission technologies are further aiding the market expansion. The report states that rising adoption of sustainable technologies coupled with increasing application of gas insulated power equipment for its space and cost reduction benefits is stimulating the industry outlook. Moreover, increasing dependency on electricity along with favorable government initiatives towards reducing transmission losses are fostering the demand for the product.
What factors may hinder the gas insulated power equipment industry growth?
Traditional switchgear technologies such as air insulated and vacuum products are easily available as an alternative to gas insulated power equipment, which in turn may hinder the market growth.
Will Asia-Pacific emerge as a lucrative growth avenue for gas insulated power equipment market?
The report cites that gas insulated power equipment industry in Asia-Pacific is expected to register substantial growth during the forecast period. Increasing consumption of electricity across residential and commercial sectors has encouraged the governments of various developing regions to install effective grid networks, which in turn is augmenting the demand for gas insulated power equipment.
How is the competitive landscape of gas insulated power equipment industry defined?
AZZ, Inc., Ormazabal Electric, Meidensha Corp., Xi'an XD Switchgear Electric, Chint Group, Larsen & Toubro, ILJIN Electric, Fuji Electric, Hyundai Electric & Energy Systems, Hyosung Heavy Indsutries, CG Power & Industrial Solutions Ltd., Hitachi Ltd., Bharat Heavy Electricals Ltd., Siemens, Schneider Electric, Toshiba Corp., Mitsubishi Electric Corp., General Electric, and ABB Ltd. are the prominent companies operating in the gas insulated power equipment market.
Table of Content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Gas Insulated Power Equipment Industry Insights
Chapter 4 Gas Insulated Power Equipment Market, By Product
Chapter 5. Gas Insulated Power Equipment Market, By Region
Chapter 6. Company Profile
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