Gas Insulated Switchgear Market Share 2020 Industry Trends and Forecast to 2023
Posted by mrfr123 on April 20th, 2020
Gas Insulated Switchgear (GIS) is a metal enclosed switchgear that consists of components such as circuit breakers and disconnectors. Market Research Future (MRFR) has published a research report about the global gas insulated switchgear market that foretells advancement for this market at 8.77% CAGR (Compound Annual Growth Rate) during the forecast period between 2016 and 2023.
The key factors driving the global gas insulated switchgear market growth include a significant increase in electric power consumption and demand for electricity due to numerous electrification projects in several developing countries. Another factor contributing to market growth is the growing power consumption rate across developed countries.
The global gas insulated switchgear market share has been segmented on the basis of the end users, installation, voltage, and lastly, region. Based on end-users, this market has been segmented into infrastructure & transportation, transmission & distribution, and manufacturing. The installation-based segmentation segments the market into indoor installation and outdoor installation. Regarding voltage, the market has been segmented into up to 36 Kilo Volt (kV) and above 36 kV.
The regional segmentation of the global gas insulated switchgear market can segment the market into the regional markets namely North America, Europe, Asia Pacific, South America, and the Middle East & Africa (MEA). Asia Pacific region is the biggest regional market because countries like China, India, and Japan are investing in their grid expansion projects in order to increase distribution grid reliability. In these countries, the demand for electricity is growing due to industrialization and infrastructural developments.
North America is another crucial regional market due to technological advancement and the presence of many key market players. The maximum-revenue generating country-specific markets in this region are the USA, Canada, and Mexico.
Europe is another significant regional market primarily due to the vibrant automotive industry, the presence of many key market players, and the technological advancement that is second only to North America. The vital country-specific markets in this region are France, Germany, Italy, Russia, and the UK, followed by remaining countries of Europe.
The key players in the global gas insulated switchgear market include ABB (Switzerland), CG Power (India), Fuji Electric (Japan), General Electric (USA), Hyosung (China), Larsen &Toubro (India), Mitsubishi Electric (Japan), Nisin Electric (Japan), Siemens (Germany), and Toshiba (Japan).
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.Also See: Insulated Switchgear, Gas Insulated, Switchgear Market, Global Gas, Switchgear, Research, Market
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