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Gas-Insulated Substation Market 2023 : Trends, Business Growth And Major Driving Factors | Hitachi Ltd., Larsen & Toubro Limited, Eaton Corporation PLC., CG Power and Industrial Solutions Limited
Gas-Insulated Substation Global Market Report
The Business Research Company's Gas-Insulated Substation Global Market Report 2023 identifies the increasing demand for clean energy is expected to boost the growth of the gas-insulated substation market. Clean energy refers to electricity that comes from renewable, zero-emission sources that do not pollute the atmosphere while used, in addition to energy saved by way of power efficiency measures. The clean energy consists of 245 kV voltage is a key well-known voltage level for the European high voltage grid answers high voltage merchandise, GE Renewable Energy. Having SF6-loose fuel-insulated substations at 245 kV might be vital to helping the decarbonization of the high-voltage grid.
The global gas-insulated substation market is expected to grow from $19.99 billion in 2022 to $22.43 billion in 2023 at a compound annual growth rate (CAGR) of 12.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the gas-insulated substation market is expected to grow to $31.91 billion in 2027 at a CAGR of 9.2%.
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Major players in the gas-insulated substation market are Hitachi Ltd., Larsen & Toubro Limited, Eaton Corporation PLC., CG Power and Industrial Solutions Limited, Schneider Electric SE, Bharat Heavy Electricals Limited, Elsewedy Electric Co S.A.E., Powell Industries Inc., Hyosung Corporation, Fuji Electric Co. Ltd., Hyundai Heavy Industries Co. Ltd., ABB Ltd., Siemens AG, Toshiba Corporation, General Electric, and Mitsubishi Electric Corporation.
A key trend in the Gas-Insulated Substation market includes the Product innovation is a key trend in the gas-insulated substation market. Major companies operating in the gas-insulated substation market are focused on developing innovative solutions to strengthen their position in the market.
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The Gas-Insulated Substation market is segmented -
The global gas-insulated substation market is segmented -
1) By Voltage: Medium Voltage, High Voltage, Extra High Voltage
2) By Installation: Indoor, Outdoor
3) By Application: Power Transmission, Power Distribution, Power Generation
4) By End-User: Power Utilities, Industrial Sector, Commercial And Residential Sector
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Gas-Insulated Substation market.
The Business Research Company's "Global Gas-Insulated Substation Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Gas-Insulated Substation Market Include:
1. Executive Summary
2. Gas-Insulated Substation Market Characteristics
3. Gas-Insulated Substation Market Trends And Strategies
4. Gas-Insulated Substation Market - Macro Economic Scenario
5. Gas-Insulated Substation Market Size And Growth
……
27. Gas-Insulated Substation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Gas-Insulated Substation Market
29. Gas-Insulated Substation Market Future Outlook and Potential Analysis
30. Appendix
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