Press release
Gas Insulated Switchgear Market is Forecasted to Reach US$ 33.23 Billion in 2028, Says Stratview Research
Stratview Research, a global market research firm has launched a report on the global gas insulated switchgear market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/763/gas-insulated-switchgear-market.html#form
Report Highlights:
Market Size in 2028: US$ 33.23 billion
Growth (CAGR): 6.27% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the Gas Insulated Switchgear Market:
The global gas insulated switchgear market is segmented based on type, voltage type, installation type, end-user type, and region.
Based on type - The market is segmented as high-voltage insulated switchgear and medium-voltage insulated switchgear. The medium-voltage insulated switchgear segment is expected to witness higher growth during the forecast period. Rapid improvement in the power distribution sector owing to the implementation of smart grid and smart metering technology along with the growing penetration of gas insulated switchgear are the major factors driving the growth of medium-voltage insulated switchgear.
Based on voltage type - The market is segmented as distribution voltage, sub-transmission voltage, high-voltage transmission, extra-high voltage transmission, and ultra-high voltage transmission. The extra high-voltage transmission segment is expected to witness the highest growth during the forecast period. The technical superiority of gas insulated switchgear over air and vacuum switchgear is the prime driver behind the high growth of the extra-high-voltage transmission segment.
Based on end-user type - The market is segmented as power transmission utilities, power distribution utilities, power generation utilities, infrastructure & transportation, and industries & OEMs. The power distribution utility segment is expected to witness the highest growth in the coming five years. Rapid urbanization in developing economies and government initiatives towards the expansion of electricity in rural areas are the major factors in the high growth of the power distribution utility segment.
To know the most attractive segments, click here:
https://www.stratviewresearch.com/763/gas-insulated-switchgear-market.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to witness the highest growth in the market during the forecast period. This growth outlook is majorly attributed to the following-
• China South Korea, Japan, and India are the growth engines of the region.
• The market is driven by growing power consumption, government initiatives towards energy efficiency, and the upgradation of aging utility infrastructure in the region.
• North America and Europe are also expected to offer substantial growth opportunities in the market during the forecast period.
Gas Insulated Switchgear Market Drivers:
Some of the key drivers listed in the report are given below.
• Growth in renewable power generation.
• Rise in energy demand.
• Increasing investments in transmission & distribution infrastructure.
• Government initiatives across the globe towards improving electricity access.
Top Companies in the Gas Insulated Switchgear Market:
Stratview Research has identified the following companies as the top market players.
• ABB Group,
• Siemens AG,
• Schneider Electric SE,
• Mitsubishi Electric Corporation,
• General Electric Company,
• Hitachi, Ltd.,
• Hyundai Heavy Industries Co., Ltd.,
• Fuji Electric Co., Ltd.,
• Nissin Electric Co., Ltd.,
• Larsen & Toubro Ltd.
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Gas Insulated Switchgear Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
Related Reports:
• Power Distribution Component Market: https://www.stratviewresearch.com/1117/power-distribution-component-market.html
• Industrial Power Transmission Market: https://www.stratviewresearch.com/2377/industrial-power-transmission-market.html
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About Us:
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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