What’s Driving the Gas Insulated Switchgear Market Trends? ABB Limited, Toshiba, Siemens, General Electric, Mitsubishi Electric Corporation, Schneider Electric
Research forecasts the Gas Insulated Switchgear market to grow from 14 billion in 2018 to 29 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 08% during the forecast period.
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Excellent insulating property along with high reliability index are few parameters which will stimulate the infrastructure and transport applications. Growing investments toward the construction of zero emission buildings will further complement the gas insulated switchgear growth. In July 2015, the EU Commission proclaimed to invest USD 78.95 million in nearly Zero-Emission Buildings (nZEB) under the Affirmative Integrated Energy Design Action project.
Leading Key Players in Gas Insulated Switchgear Market are:
ABB Limited, Toshiba, Siemens, General Electric, Mitsubishi Electric Corporation, Schneider Electric, Larsen & Toubro Limited, CG Power and Industrial Solutions Limited, Hyundai Heavy Industries Co. Ltd, Hitachi Limited, Ormazabal, Fuji Electric, Nissin electric, Chint Group, Xi'an XD Switchgear Electric
Extensive applications across several industries including marine, Oil & Gas, and mining will augment the MV gas insulated switchgear market growth. Ongoing product innovation along with some key features including simple & safe installation and ease of availability will further complement the business outlook. In August 2015, ABB developed innovative medium voltage products including GIS with a new concept for protection, control, measurement and digital communication.
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Light weight, compact size, arc-quenching property and high dielectric strength are some of the key features which will embellish the gas insulated switchgear market size. GIS requires 1/10th of the overall space when compared with conventional switchgear. In 2014, Hitachi entered into an agreement with Electricity Generating Authority of Thailand (EGAT) for construction and supply of Chaiya Phum substations. The contract includes designing, engineering, supply, installation and commissioning of 500kV GIS.
Ongoing upgradation and refurbishment of existing electrical infrastructure favored by government initiatives to improve the efficiency of electricity delivery system will fuel the U.S. gas insulated switchgear market growth. In 2016, the U.S. Department of Energy introduced Grid Modernization Initiative (GMI) to improve the reliability, resiliency and security of the country's electricity delivery system. The department also announced new funds of up to USD 220 million towards the modernization of nation's electrical interconnected network.
Table of content:
Chapter 4. Gas Insulated Switchgear Market, By Capacity
4.1. Global market share by capacity, 2016 & 2024
4.2. 150 kV market revenue by region, 2013 – 2024
Chapter 5. Gas Insulated Switchgear Market, By Voltage Level
5.1. Global market share by voltage level, 2016 & 2024
5.2. Medium voltage
5.2.1. Medium voltage market, 2013 – 2024
5.2.2. Medium voltage market revenue by region, 2013 – 2024
5.2.3. Primary distribution
22.214.171.124. Primary distribution market, 2013 – 2024
126.96.36.199. Primary distribution market revenue by region, 2013 – 2024
5.2.4. Secondary distribution
188.8.131.52. Secondary distribution market, 2013 – 2024
184.108.40.206. Secondary market revenue by region, 2013 – 2024
5.3. High voltage
5.3.1. High voltage market, 2013 – 2024
5.3.2. High voltage market revenue by region, 2013 – 2024
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