Press release
Gas Insulated Switchgear Market worth $31.6 Billion by 2028
The global Gas Insulated Switchgear Market is expected to reach USD 31.6 billion by 2028 from USD 23.8 billion in 2023 at a CAGR of 5.8% during the 2023-2028 period according to a new report by MarketsandMarkets™. The Gas Insulated Switchgear Market is poised for substantial growth during this period, primarily due to the expected strengthening of power distribution infrastructure in response to the growing demand for electricity. Furthermore, the expansion of renewable energy capacity and increased investments in industrial production are set to drive the demand for gas insulated switchgear. The market is expected to experience accelerated growth, particularly with the increasing use of high-voltage direct systems.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=234770702
Outdoor segment, by installation, to occupy majority of Gas Insulated Switchgear Market share.
During the forecast period, the outdoor switchgear segment, categorized by installation, is expected to secure a dominant market share. This is attributed to the increasing power consumption, which drives the need for the expansion and modernization of power grids, ultimately boosting the demand for outdoor gas insulated switchgear. These outdoor gas insulated switchgear are primarily used in substations and switchyards where space constraints for outdoor installations are not a concern. Given their widespread application areas, outdoor gas insulated switchgear are anticipated to capture a larger market share compared to their indoor counterparts.
Above 220 kV voltage segment, by voltage rating, to be largest market.
Throughout the forecast period, the outdoor switchgear segment, as classified by its installation, is projected to maintain a leading position in the market. This dominance is driven by the growing power consumption, which in turn fuels the requirement for expanding and upgrading power grids, thereby increasing the demand for outdoor gas insulated switchgear. Outdoor gas insulated switchgear finds its primary utility in substations and switchyards where the availability of space for outdoor installations is not a limiting factor. Due to its extensive applications, outdoor gas insulated switchgear is expected to outperform its indoor counterparts and command a larger market share.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=234770702
Asia Pacific to emerge as the largest Gas Insulated Switchgear Market
During the forecast period, Asia Pacific is anticipated to hold the largest market share in the global Gas Insulated Switchgear Market. This prominence is expected to be driven by the rapid industrial growth observed in the region. Major economies, including China, Japan, and India, have established ambitious targets to diversify their energy sources in the coming years. Additionally, the increasing urbanization in the region is leading to a decrease in available space, which could serve as a driving factor for the growth of gas insulated switchgear in Asia Pacific.
Key Market Players:
Key players in the global Gas Insulated Switchgear Market include ABB (Switzerland), General Electric (US), Siemens (Germany), Schneider Electric (France), and Eaton (Ireland).
Content Source: https://www.marketsandmarkets.com/PressReleases/gas-insulated-switchgear.asp
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=234770702
Outdoor segment, by installation, to occupy majority of Gas Insulated Switchgear Market share.
During the forecast period, the outdoor switchgear segment, categorized by installation, is expected to secure a dominant market share. This is attributed to the increasing power consumption, which drives the need for the expansion and modernization of power grids, ultimately boosting the demand for outdoor gas insulated switchgear. These outdoor gas insulated switchgear are primarily used in substations and switchyards where space constraints for outdoor installations are not a concern. Given their widespread application areas, outdoor gas insulated switchgear are anticipated to capture a larger market share compared to their indoor counterparts.
Above 220 kV voltage segment, by voltage rating, to be largest market.
Throughout the forecast period, the outdoor switchgear segment, as classified by its installation, is projected to maintain a leading position in the market. This dominance is driven by the growing power consumption, which in turn fuels the requirement for expanding and upgrading power grids, thereby increasing the demand for outdoor gas insulated switchgear. Outdoor gas insulated switchgear finds its primary utility in substations and switchyards where the availability of space for outdoor installations is not a limiting factor. Due to its extensive applications, outdoor gas insulated switchgear is expected to outperform its indoor counterparts and command a larger market share.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=234770702
Asia Pacific to emerge as the largest Gas Insulated Switchgear Market
During the forecast period, Asia Pacific is anticipated to hold the largest market share in the global Gas Insulated Switchgear Market. This prominence is expected to be driven by the rapid industrial growth observed in the region. Major economies, including China, Japan, and India, have established ambitious targets to diversify their energy sources in the coming years. Additionally, the increasing urbanization in the region is leading to a decrease in available space, which could serve as a driving factor for the growth of gas insulated switchgear in Asia Pacific.
Key Market Players:
Key players in the global Gas Insulated Switchgear Market include ABB (Switzerland), General Electric (US), Siemens (Germany), Schneider Electric (France), and Eaton (Ireland).
Content Source: https://www.marketsandmarkets.com/PressReleases/gas-insulated-switchgear.asp
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
