Published Date: 30-Sep-2022
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According to a new report, published by KBV research, The Global Gas Insulated Switchgear Market size is expected to reach $33.9 billion by 2028, rising at a market growth of 6.3% CAGR during the forecast period.
The Indoor market would experience a CAGR of 8.4% during (2022 - 2028). Indoor substations are physically made up of a number of open and closed compartments or chambers. These compartments contain the installation's equipment. One of the main factors influencing the need for indoor GIS is a steady power supply.
The Above 220 kV market is generating high revenue in the Global Gas Insulated Switchgear Market by Voltage Rating in 2021; thereby, achieving a market value of $14 billion by 2028. The overhead distribution systems and specific industrial uses are found in the high voltage range. In order to create electrical arcs and produce particle beams and X-rays, it is also employed in cathode ray tubes.
The Integrated Three Phase market is exhibiting a CAGR of 6.5% during (2022 - 2028). GIS products can be divided into two groups: those with a voltage rating up to 170 kV, that are nearly exclusively three-phase designs, and those with a voltage rating over 170 kV, which are primarily single-phase designs. In comparison to single-phase power supplies, three power sources, whether they include three wires or four, need lesser conductor material to deliver a given quantity of electrical power.
The SF6 market shows high market share in the Global Gas Insulated Switchgear Market by Insulation Type in 2021; thereby, achieving a market value of $22 billion by 2028. The synthetic fluorinated substance sulfur hexafluoride (SF6) has a very stable molecular structure. Electric utilities heavily rely on SF6 in power systems for voltage insulation, current interruptions, and arc quenching during the distribution and transmission of energy due to its special dielectric qualities.
The Power Distribution Utilities market would showcase a CAGR of 6.6% during (2022 - 2028). To meet the demand for electricity, the electricity distribution utilities use both renewable and non-renewable energy sources. The need to modernize the existing infrastructure to facilitate the simple integration of non - conventional sources is driven by the growing adoption of renewable energy for power generation.
The Asia Pacific market dominated the Global Gas Insulated Switchgear Market by Region in 2021; thereby, achieving a market value of $13 billion by 2028. The Europe market is anticipated to grow at a CAGR of 5.8% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 5.6% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ABB Group, Schneider Electric SE, General Electric (GE) Co., Siemens AG, Eaton Corporation, Mitsubishi Electric Corporation, Hitachi, Ltd., Fuji Electric Co., Ltd., Powell Industries, Inc. and Hyundai Electric and Energy Systems Co., Ltd.
By Voltage Rating
By Insulation Type
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