openPR Logo
Press release

Gas Insulated Transformer Market Healthy Pace throughout the Forecast during 2021 to 2031

Gas Insulated Transformer Market Healthy Pace throughout

Global sales of gas insulated transformers are set to be valued at US$ 3.54 Bn in 2021, with balanced long-term projections, according to latest insights by Persistence Market Research. The study estimates the market to expand at around 5.4% CAGR from 2021 to 2031.

Renewable energy sources such as wind, solar, and other forms are gaining significant momentum. As such, demand for gas insulated transformers is gaining traction with respect to the expansion prospects of renewable energy generation. Rising adoption of the smart grid concept in both, developed and developing countries is also projected to complement market growth over the coming years.

CLICK HERE TO GET A SAMPLE REPORT (INCLUDING FULL TOC, TABLE & FIGURES) - https://www.persistencemarketresearch.com/samples/28216

Due to the COVID-19 pandemic, the market witnessed a drop in demand in new sales and installations, as well as supply disruptions in 2020. However, developing commercial sectors and growing demand from the power generation & distribution sector is expected to drive the market substantially over the coming years. The Middle East & Africa, South Asia & Pacific, and East Asia are major markets for gas insulated transformers.

Development of gas insulated transformers with alternative technologies of SF6 is found to be one of the key trends in the market.

For instance, in the recent past, ABB and General Electric collaborated with 3M to introduce g3 & AirPlus insulation gases, which were developed using 3M's Novec 4710 and Novec 5110.

GET A CUSTOMIZED SCOPE TO MATCH YOUR NEED ASK AN EXPERT - https://www.persistencemarketresearch.com/ask-an-expert/28216

Key Takeaways from Market Study

Key market players are focusing on the introduction of SF6 gas alternative transformers owing to stringent environmental regulations.
Gas insulated transformers are environmentally friendly and can be recycled easily, which is is a major advantage. They can be integrated directly with gas insulated switchgear to form a single, enclosed unit. This allows space saving and integrated control over the gas system.

Owing to factors such as increase in investments in power infrastructure and growing demand for reliable power supply, commercial areas and industrial plants are expected to drive most demand over the coming years.

Increasing number of players focusing on R&D related to gas insulated transformers is anticipated to have a significant contribution to market growth.

Three-phase gas insulated transformers will continue accounting for more than half of the global share due to their outstanding characteristics and compatibility.

The market witnessed a slump in 2020 due to the COVID-19 pandemic, with a recorded growth of -1.9%.

Lack of space for new substations and adverse environmental effects of oil-based transformers have encouraged manufacturers to shift toward the use of underground substations. This, in turn, has augmented demand for non-explosive and large-capacity gas insulated transformers in order to ensure compactness and prevent accidents.

"Rising emphasis on adopting renewable sources of energy and increasing inflow of investments in electrical infrastructure across the globe are projected to bode well for market players," says a Persistence Market Research analyst.

GAIN COMPLETE ACCESS TO THE REPORT - https://www.persistencemarketresearch.com/checkout/28216

Competitive Landscape

The market is observed to be largely dominated by tier 1 players with a market revenue share of around 40%. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares.

Some of the key players in this industry are Siemens Energy, ABB Ltd, General Electric, Mitsubishi Electric, and Hyosung Heavy Industries Corporation.

Contact Us:

Address - 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com
Website - https://www.persistencemarketresearch.com

About Us:

Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Gas Insulated Transformer Market Healthy Pace throughout the Forecast during 2021 to 2031 here

News-ID: 2772812 • Views:

More Releases from Persistence Market Research

Stadium Lighting Market Soars as LED Replaces Metal Halide with Longer Lifespan & Durability
Stadium Lighting Market Soars as LED Replaces Metal Halide with Longer Lifespan …
The stadium lighting market is witnessing unprecedented growth, fueled by the global shift from traditional metal halide lights to energy-efficient LED lighting systems. Metal halide lights, which have dominated stadiums for decades, typically last around 6,000 hours and require frequent replacement, leading to high maintenance costs. In contrast, modern LED stadium lights offer superior durability, water resistance, and shockproof features, with lifespans extending up to 100,000 hours. These advancements are
Global POS Machines Market Outlook: US$ 18 Bn to US$ 49 Bn by 2033
Global POS Machines Market Outlook: US$ 18 Bn to US$ 49 Bn by 2033
The Point-of-Sale (POS) machines market has been experiencing significant growth over the past decade, driven by rapid technological advancements and the increasing adoption of digital payment solutions. As of 2022, the global POS machines market was valued at US$ 18,221.3 Million, and it is forecasted to reach US$ 49,365.2 Million by 2033. The market is anticipated to grow at a CAGR of 9.6% from 2023 to 2033, highlighting its robust
How 3D Scanners Are Transforming Design, Manufacturing, and Entertainment
How 3D Scanners Are Transforming Design, Manufacturing, and Entertainment
The 3D scanners market is witnessing remarkable growth as industries increasingly adopt advanced digital solutions for product design, quality control, and cultural documentation. A 3D scanner is defined as a device that analyzes real-world objects to collect data on their shape and appearance, enabling the creation of highly accurate digital models. These models are widely used across applications like movie and video game production, industrial design, prosthetics, reverse engineering, prototyping,
Intermodal Transport Market Poised for Growth at a Robust CAGR Over the Next Decade | Persistence Market Research
Intermodal Transport Market Poised for Growth at a Robust CAGR Over the Next Dec …
Overview of the Market The intermodal transport market is witnessing significant growth globally due to increasing demand for efficient, cost-effective, and environmentally sustainable logistics solutions. Intermodal transport, which involves the seamless integration of multiple transportation modes such as rail, road, and sea, ensures faster and safer movement of goods while reducing operational costs. The market's growth is being driven by the rising adoption of advanced technologies, such as automated gate systems

All 5 Releases


More Releases for Gas

City Gas Distribution Market 2022 key developmental strategies implemented by th …
The City Gas Distribution report is an in-depth examination of the global City Gas Distribution's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global City Gas Distribution industry, as well as market segmentation, competition, and the macroeconomic climate. A complete City Gas Distribution analysis takes into account a number of aspects, including a country's population and business cycles, as
Know about City Gas Distribution Market Growth with Top Companies details like: …
The City Gas Distribution Market 2020-2024 Report involve of strong research on global City Gas Distribution industry which enables the customer to look at the possible requirement as well as prediction. The constraints and drivers are assembled after a significant study of the global City Gas Distribution market's proficiency. The development ratio which is expected in perspective of the rational analysis provides thorough information of the worldwide City Gas Distribution
City Gas Distribution Market 2019: Top Companies- Gujarat Gas, Indraprastha Gas, …
A network that deliver the gas in the city. Growth in the market is anticipated on account of increasing natural gas demand from domestic, commercial, industrial as well as automotive end user segments. Get Sample Copy of This Report at https://www.orianresearch.com/request-sample/1011059 City Gas Distribution Industry 2019 Global Market research report provides a detailed analysis of market growth factors, industry share, regional trends, size and Forecast till 2025. This report
City Gas Distribution Market Exploring Future Growth 2019-2023 and Key Players - …
Global City Gas Distribution Market Research Report consists of all the significant data related to the global market. The report presents a comprehensive analysis of the various industry growth factors, including the market trends, dynamics, estimates, production and consumption ratio, industry development factors, size, share, supply and demand, forecast trends, sales, as well as several other factors. The report has been generated leveraging a blend of the primary and secondary
Global City Gas Distribution Market 2018: Key Players – Gujarat Gas, Indrapras …
Summary WiseGuyReports.com adds “City Gas Distribution Market 2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023” reports to its database. This report provides in depth study of “City Gas Distribution Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The City Gas Distribution Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an
City Gas Distribution Market Latest Technology Trends 2018 | Growth by Top Compa …
A network that deliver the gas in the city. Growth in the market is anticipated on account of increasing natural gas demand from domestic, commercial, industrial as well as automotive end user segments. The report Global City Gas Distribution Market 2018 focuses on fundamental know-how of City Gas Distribution segment. The report provides comprehensive study and vivid description of drivers, limitations, openings, request factors, market size, conjectures, and patterns in the Worldwide