Dublin, April 17, 2023 (GLOBE NEWSWIRE) -- The "Gas Insulated Switchgears: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Gas Insulated Switchgears estimated at US$20.1 Billion in the year 2022, is projected to reach a revised size of US$39.3 Billion by 2030, growing at a CAGR of 8.7% over the analysis period 2022-2030.
SF6, one of the segments analyzed in the report, is projected to record 6.9% CAGR and reach US$20.8 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the SF6-Free segment is readjusted to a revised 11.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $3.7 Billion, While China is Forecast to Grow at 10.3% CAGR
The Gas Insulated Switchgears market in the U.S. is estimated at US$3.7 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$10 Billion by the year 2030 trailing a CAGR of 10.3% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.3% and 7.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 7.2% CAGR.
Select Competitors (Total 81 Featured) -
- ABB
- CG Power & Industrial Solutions Ltd.
- Eaton Corporation plc
- Fuji Electric Co., Ltd.
- General Electric Company
- Hitachi Energy Ltd.
- Hitachi, Ltd.
- Hyosung Heavy Industries Co., Ltd.
- Kanohar Electricals Ltd.
- Mitsubishi Electric Corporation
- NISSIN ELECTRIC Co., Ltd.
- Powell Industries
- Schneider Electric SE
- Siemens Energy
- Tenaga Switchgear Sdn. Bhd.
- Toshiba Energy Systems & Solutions Corporation
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 610 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $20.1 Billion |
| Forecasted Market Value (USD) by 2030 | $39.3 Billion |
| Compound Annual Growth Rate | 8.7% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession
- Year 2021 in Review and Near-term Outlook
- Prolonged Pandemic, Ukraine-Russia Conflict and Ensuing Economic Disruptions Impact Growth Outlook
- World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 through 2023
- Energy Sector: COVID-19 Pandemic Brings Numerous Challenges to GIS Industry
- Global Energy Market Growth Outlook (In %) for Years 2019 through 2025
- Opportunities for the Power & Energy Sector in the Post-Pandemic Era
- Competitive Scenario
- Gas Insulated Switchgears - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Select Technological Advancements in the Switchgear Market
- Global Market Prospects & Outlook
- Analysis by Type
- World Gas Insulated Switchgears Market by Type (2021 & 2027): Percentage Breakdown of Sales for SF6, and SF6-Free
- Analysis by Installation
- World Gas Insulated Switchgears Market by Installation (2021 & 2027): Percentage Breakdown of Sales for Outdoor, and Indoor
- Analysis by End-Use
- World Gas Insulated Switchgears Market by End-Use (2021 & 2027): Percentage Breakdown of Sales for Power Transmission Utility, Power Generation Utility, Power Distribution Utility, Railways & Metros, Industries & OEM, and Commercial
- Regional Analysis
- World Gas Insulated Switchgears Market by Region (2021 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
- World Gas Insulated Switchgears Market - Geographic Regions Ranked by CAGR (Sales) for 2020-2027: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Canada, Europe, and Japan
- Brief Overview of the Asian GIS Market
- China and India Lead the Global Rise in Demand for Electricity: Change in Gross Electricity Demand in TWh for 2017-50
- An Introduction to Gas Insulated Switchgears
- The Significance, Advantages, and Disadvantages of Switchgear
- Key Reasons in Consideration of Gas Insulated Switchgears
- GIS Categorization by Voltage
- Gas Insulated Switchgear: Governing Agencies
- Recent Market Activity
- Select Global Brands
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Gas Insulated Switchgear: Making Perfect Sense with Intriguing Benefits
- Power & Energy: The Largest Application Market for SF6
- Popularity Soars as Gas Insulated Switchgears Provide Unmatched Benefits
- New Emerging Technologies with Improved Environmental Profile to Enter Market
- GIS Market to Benefit from Opportunities for HVDC Technology Adoption
- Gas Insulated Switchgear: Future Progress
- Gas Insulated Switchgears Usage in Power Utility Market Increases
- Pandemic's Impact on Utilities Affects Demand for SF6 GIS
- COVID-19 Impacts Electricity Consumption: Average Annual Growth Rate of Electricity Demand by Select Region/Country for 2001-06, 2006-10, 2011-15 and 2020
- Influx of Advanced Gas Insulated Switchgear for Industrial & Utility Applications
- Gas Insulated Versus Air Insulated Switchgear for Medium-Voltage Applications
- Power Grid Modernization Implies Upgrades in Policy Regimes & Infrastructure
- The Ever Growing Need for Increase in Power T&D Efficiency Bodes Well for the Market
- Global Investments into Power T&D Infrastructure by Region (in %) for 2020 and 2040
- GIS Relevance in Renewable Energy Based Power Projects
- Targets for Electricity Production from Renewable Energy Sources in Select Countries
- Global Investments (US$ Billion) in Renewable Energy by Source: 2018
- Increasing Focus on Renewable Energy Production to Drive Market Growth
- Wind Farms to Stimulate Demand for Medium Voltage GIS
- Energy Infrastructure Investments to Elevate Demand for GIS
- Rising Investments in Expansion of Transmission and Distribution Networks to Drive Growth
- Electricity Demand Patterns to Drive Growth
- Projected Global Demand for Electricity (MWh): 2015, 2025, & 2035
- Change in Gross Electricity Demand in TWh for 2017-50
- Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
- Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
- Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India, Latin America, and North America over the Period 2010-2030
- Rising Adoption of Electric Vehicles to Boost Demand for Gas Insulated Switchgears
- Rapid Urbanization: A Mega Growth Driver for Gas Insulated Switchgears
- World Population (in Thousands) by Geographic Region for the Years 2018, 2025, 2040, 2050
- World Urban Population in Million and as Percentage of Total Population for the Period 1950-2050
- World Population Urbanization Rate (%) by Region/Country: 2016 & 2040
- Rising Investments in Smart Grids Bodes Well
- Global Smart Grid Revenues in US$ Million for the Years 2018, 2021 and 2024
- Global Market for Smart Grids (in US$ Billion) for the Years 2020
- Growing Prevalence of Smart City Projects to Accelerate Gas Insulated Switchgear Demand
- Distributed Generation Offers Opportunities
- World Distributed Generation Market by Geographic Region (2021 & 2027) - Annual Revenues in US$ Million for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa
- Market Restraints: Environmental Concerns and High Equipment Costs
- Gas Insulated Switchgear Manufacturers Face Rigorous Safety and Environmental Regulations
- GIS market to Suffer as Grid Expansion Projects Face Delays
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/eh97wx
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