LONDON, April 27, 2016 /PRNewswire/ -- The gas insulated switchgear market is expected to reach a market size of USD 24.6 billion by 2020, at a CAGR of 9.9% from 2015 to 2020. Gas insulated switchgears are used to control, protect, and isolate electrical equipment in power systems. Investments in transmission & distribution infrastructure, infrastructure & transportation, and power generation sectors in Asia-Pacific is driving the demand of gas insulated switchgear in the region. Developing as well as developed economies are moving towards renewable energy sources to cope up with the increasing energy demand. Governments of countries in the region have taken various steps for renewable energy programs driving the demand for use of gas insulated switchgears, which is the best alternative in countries of the region having space constraints.
High voltage gas insulated switchgear dominates the global market
High voltage gas insulated switchgear held the largest market share in the global gas insulated switchgear market in 2014. It continues to hold the highest position during the forecast period, due to government's focusing on renewable energy generation and transmitting high voltage electricity over long distances through high voltage transmission network.
GCC: The fastest growing region in the gas insulated switchgear market
In GCC (Gulf Cooperation Council) countries, the fastest growth of the gas insulated switchgear market is attributed to the existing huge manufacturing & processing sector, and growing power generation segments.
The GCC countries have plans to restructure their power sectors, thereby encouraging the private sector to invest in this industry. There is an increase in demand for power in the region due to rapid population, commercial, and industrial growth in their respective countries. The GCC power grid has helped power sector in the region to transform into a major trading market.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts to obtain & verify critical qualitative and quantitative information as well as assess future market prospects. Distribution of primary interviews is as follows:
By Company Type: Tier 1- 70%, Tier 2-20%, and Tier 3-10%
By Designation: C-Level-20%, Director Level-75%, and Others*-5%
By Region: North America-45%, Europe-25%, Asia-Pacific-20%, and RoW-10%
Note:*Others include product managers, marketing managers, and sales managers
The tier for companies has been defined on the basis of their total revenue, as of 2013: Tier-1 = >USD 5 billion, Tier-2 = USD 1 billion to USD 5 billion, and Tier-3 =
Leading players of this industry have been profiled with their recent developments and other strategic activities. These include ABB Ltd. (Switzerland), Schneider Electric SE (France), Siemens AG (Germany), Alstom SA (France), and Mitsubishi Electric Corporation (Japan) among others.
Why buy this report?
1. The report identifies and addresses key markets for gas insulated switchgear, which is useful for suppliers and OEMs to review production and distribution plans.
2. The report includes analysis for key countries of gas insulated switchgears by type that is high voltage and medium voltage. It analyzes historical trends and also forecast for 2020 assisting in strategic decision making.
3. It also presents competition by analyzing recent market developments such as contracts & agreements, new product launches, expansions, and partnerships, joint ventures, and collaborations from key global market players. It helps to understand the competition strategies and plan respective initiatives.
Download the full report: https://www.reportbuyer.com/product/3473699/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Research Advisor at Reportbuyer.com
Tel: +44 208 816 85 48