Gas Insulated Switchgear Market Worth USD 24.6 Billion by 2020
PUNE, India, December 11, 2015 /PRNewswire/ --
The report "Gas Insulated Switchgear Market by Type (High & Medium), Sub-Type (Primary & Secondary), End-User (Transmission & Distribution, Manufacturing & Processing, Infrastructure & Transportation and Power Generation) & Region - Global Forecast to 2020" published by MarketsandMarkets, defines and segments the global Gas Insulated Switchgear Market with an analysis and forecast of the market size.
Browse 102 market data tables and 50 figures spread through 177 pages and in-depth TOC on "Gas Insulated Switchgear Market - Global Forecast to 2020"
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The Gas Insulated Switchgear Market is expected to grow from an estimated USD 15.4 Billion in 2015 to USD 24.6 Billion by 2020, at a CAGR of 9.9%. Better capacity compared to conventional switchgear, optimized energy efficiency, reliability, and security to multiple energy sources, compact structure, longer lifespan, and low maintenance of gas insulated switchgear are driving the market across the globe.
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High voltage segment - the biggest Gas Insulated Switchgear Market by type
Among the two major types of gas insulated switchgear: high voltage and medium voltage, high voltage held the largest market share in 2014. High voltage segment includes gas insulated switchgear above 72.5 kV rating and ratings below 72.5 kV come under the medium voltage gas insulated switchgear. High voltage gas insulated switchgears are efficient to transmit electricity at high voltage, extra high voltage, and ultra-high voltage level. In many cases, the renewable energy generator is directly connected to the national grid, which generates electricity of high-voltage or ultra-voltage level. At such instances, due to its less space consumption, high voltage gas insulated switchgears are widely used in many developed and populated nations, which have space constraints.
Asia-Pacific is the dominant market for gas insulated switchgear
Asia-Pacific is the largest market for gas insulated switchgear among other regions studied in this report, such as North America, Europe, GCC (Gulf Cooperation Council), and RoW (Rest of the World). Asia-Pacific will continue to dominate the Gas Insulated Switchgear Market, seeking more investments in the transmission & distribution sector for renewable energy generation, encouraging more substations to be installed for high voltage transmission. In order to meet environmental constraints, countries in the region are now focusing on decreasing the emission level by bringing in highly developed technologies into operation, by investing in substation projects, which involve gas insulated switchgear installations as well.
To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the Gas Insulated Switchgear Market such as ABB Ltd. (Switzerland), Alstom SA (France), Siemens AG (Germany), Schneider Electric SE (France), and Mitsubishi Electric Corporation (Japan) among others. Dominant players are trying to penetrate developing and developed economies and adopting contracts & agreements strategy to grab the market share.
Market share analysis by revenue for key companies is included in the report. The scope accordingly aids market participants to identify high growth markets and help managing key investment decisions. For this report, major players in the Gas Insulated Switchgear Market have been identified using various primary and secondary sources that include annual reports of top market players, interviews with key opinion leaders such as CEOs, Directors, and Marketing Executives. Based on this research, the market share have been evaluated and validated.
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