Global Gas Insulated Switchgear Market Synopsis
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.
Also Read: http://www.marketwatch.com/story/gas-insulated-switchgear-market-2020-current-scenario-growth-insights-covid-19-impact-analysis-key-players-sales-revenue-opportunity-and-global-forecast-to-2023-2020-06-02
Gas Insulated Switchgear Market Segmentation
The global gas insulated switchgear market 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.
Key Players:
· 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).
Regional Analysis
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. China, India, and Indonesia are also investing heavily in their hydroelectric power projects, leading to growing investments in transmission & distribution sector by connecting renewable energy generation to the grid. This is expected to boost the market for gas insulated switchgear in this region. Another important country-specific market in this region is Australia, followed by the remaining countries of the Asia Pacific region.
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.
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.
South America is a smaller market because the availability of advanced technology is limited in this region. The key country, specific markets in this region are Argentina and Brazil, followed by the remaining countries of South America.
In the MEA region, the market is limited due to poor countries, lack of awareness, lack of education, lack of skilled labor, and lack of technological advancement. The main country-specific markets in this region are Saudi Arabia, Qatar, and UAE, followed by the remaining countries of the MEA region.
Browse Complete Gas Insulated Switchgear Market Report at: https://www.marketresearchfuture.com/reports/gas-insulated-switchgear-market-1108
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