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Gas-Insulated Switchgear Market to Grow with 9.5% CAGR to Reach USD 34.90 Billion in Size by 2029 | Analysis by Installation, Generation Utility, Emerging Trends, Market Conditions, Restraints and Opportunities
Based on previous market performance, the Gas-Insulated Switchgear market is expected to reach USD 34.90 billion in size by 2028. With a 9.5% CAGR.Gas-Insulated Switchgear Market Overview:
The demand for electricity is rising as more people move into cities. Furthermore, there will be an increase in power demand as a result of significant development projects to construct office buildings, business parks, and housing societies. Therefore, it is anticipated that the space crunch in metropolitan areas and rising energy consumption would further fuel the expansion of the gas insulated switchgear market over the forecast period.
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The primary reasons propelling the global market for gas insulated switchgear are rising demand for energy, an increase in investments in transmission and distribution infrastructure, and government initiatives around the world to increase access to electricity.
Based on our expert's analysis the players that are leading the market includes: ABB, Siemens, Schneider Electric, General Electric, Eaton Corporation, Mitsubishi Electric, Hitachi, Hyundai Electric & Energy Systems, Fuji Electric and Crompton Greaves Power and Industrial Solutions. and Others.
The whole market is segmented as follows:
Gas Insulated Switchgear Market by Installation, 2019-2028, (In USD Million)
Indoor
Outdoor
Gas Insulated Switchgear Market by End User, 2019-2028, (In USD Million)
Power Transmission Utility
Power Generation Utility
Power Distribution Utility
Railways & Metros
Industrial & Oem
Industry Developments:
Sulfur hexafluoride (SF6) free gas-insulated switchgear for 10 bays will be delivered by Siemens to Finland's transmission system operator, Fingrid, in April 2021. The contract includes the first SF6-free GIS in Finland and is Siemens' largest SF6-free GIS purchase in Europe.
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Gas-Insulated Switchgear Market' s top organizations are operating in a dynamic set-up, wherein they are required to incorporate unprecedented advances to reap benefits from the latest and upcoming information technologies and industry trends.
Regional Analysis:
This report is segmented into several key Regions, with production, consumption, revenue and market share and growth rate of Gas-Insulated Switchgear Market. These regions, from 2022 To 2029, covering North America, Europe, China, Japan, Southeast Asia, India, North America (USA, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) and ROW.
Our Market Intelligence reports give our clients the information they need to maintain a competitive edge in the marketplace. Competitor Analysis and Profiling studies delve further into a company's competitive strengths and shortcomings. Market assessments conducted by SIS reveal market opportunities, size, and viability.
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