Gas Insulated Switchgear Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Gas Insulated Switchgear Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : August, 2021 | Energy & Mining

Report Digest


Global Gas Insulated Switchgear Market: Snapshot

Gas insulated switchgear refers to a type of protection device and a an amalgamation of several types of components such as disconnectors, protection relays, lightning arrestors, potential transformers, current transformers, and circuit breakers. They are mainly employed in the transmission and distribution of electricity and efficiently protects circuits and equipment from unregulated power fluctuations.

The global market for gas insulated switchgear is expected to witness an exponential growth owing to the rising attention on technological advancements in this particular field. The growing employment of gas insulated switchgear in several industries is expected to trigger the growth of this market in the years to come. The primary influential aspects of this product are the compact designs and low maintenance. These switchgears are also highly efficient as compared to the conventional switchgear. Consumers also tend to choose it over the conventional ones owing to its elongated service life. However, the growth of the market may be slightly impacted by the expensive gas insulated switchgear. Furthermore, the core challenge that the market is expected to face while trying to reduce the harmful impact of the SF6 gas.

The gas insulated switchgear market is expected to gain benefit from the rising demand of the product in the Asia Pacific region mainly from India, China, and Japan. This growth can be attributed to the growing concerns on decreasing the level of EHV and UHV transmissions. 

Global Gas Insulated Switchgear Market: Overview

The global market for gas insulated switchgear is expected to register a progressive growth rate throughout the forecast period, thanks to the growing focus on technological advancements in this field. The increasing use of gas insulated switchgear in diverse industries is anticipated to accelerate the growth of the overall market in the next few years. The research study offers a detailed analysis of the global gas insulated switchgear market and highlights the key factors that are likely to encourage the growth of the overall market in the next few years. In addition, the tables, charts, and infographics that have been used in the research study to provide the forecast statistics of the global market.

Global Gas Insulated Switchgear Market: Drivers and Restraints

The requirement of low maintenance and the compact design of gas insulted switchgear are some of the major factors that are likely to fuel the growth of the global gas insulated switchgear market across the forecast period. In addition, the high efficiency of gas insulted switchgear in comparison with conventional switchgear and the long service life are some of the other factors predicted to supplement the growth of the overall market in the next few years.

On the contrary, the high cost of gas insulated switchgear is one of the key factors expected to hamper the development of the worldwide gas insulated switchgear market in the near future. Moreover, reducing the harmful effects of SF6 gas is considered as a major challenge for the growth of the global market. Nonetheless, the growing demand for energy and the development of an environment-friendly substitute to SF6 gas are projected to generate substantial opportunities towards the growth of the gas insulated switchgear market in the next few years.

Global Gas Insulated Switchgear Market: Region-wise Outlook

The research study offers an in-depth analysis of the global market for gas insulated switchgear in order to provide a clear understanding of the market. The key segments of the global market include the Middle East and Africa, Asia Pacific, North America, Latin America, and Europe. As per the market intelligence study, at present, Asia Pacific holds a key share of the global gas insulated switchgear market and is likely to remain in the leading spot throughout the forecast period. The swift growth of this region can be attributed to the current projects of implementation of UHV and EHV transmission in several developing nations.

Furthermore, the substantial contribution from Japan, China, and India is another major factor expected to contribute extensively towards the development of the market in the next few years. Moreover, the growing demand for gas insulated switchgear for transmission and distribution is anticipated to lucrative opportunities for the leading players operating in the gas insulated switchgear market across the globe.

Key Players Mentioned in the Research Report are:

The gas insulated switchgear market worldwide is expected to witness a high level of competition in the next few years. These players are emphasizing on the expansion of product portfolio by introducing new and effective products, which is likely to support the key players to sustain in the competitive scenario of the global market. Additionally, a substantial growth in the mergers and acquisitions and collaborations is estimated to accelerate the growth of the gas insulated switchgear market across the globe.

Some of the prominent players operating in the global market for gas insulated switchgear are Crompton Greaves Limited, Siemens AG, ABB Ltd., Larsen & Toubro, XI’an XD Switchgear Electric Co., Ltd., Schneider Electric, Fuji Electric Co. Ltd., Toshiba International Corporation, Hyundai Heavy Industries Co., General Electric, Chint Electric Co. Ltd., Nissin Electric Co. Ltd., Hyosung Corporation, Hitachi Ltd., and Mitsubishi Electric Corporation.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?