PUNE, India, January 11, 2017 /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 2021" published by MarketsandMarkets, the market is expected to grow from an estimated USD 16.53 Billion in 2016 to USD 25.95 Billion by 2021, registering a CAGR of 9.4% from 2016 to 2021.
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Browse 107 market data Tables and 50 Figures spread through 177 Pages and in-depth TOC on "Gas Insulated Switchgear Market"
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The global market is witnessing significant growth due to 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.
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High voltage segment - the largest Gas Insulated Switchgear Market by type
Among the two major types of gas insulated switchgear: high voltage and medium voltage, the former held the largest market share in 2015. High voltage gas insulated switchgear 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-high voltage level. At such instances, due to its less space consumption, high voltage gas insulated switchgear are widely used in many developed and populated nations, which have space constraints.
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Infrastructure & transportation: The fastest growing end-user segment for gas insulated switchgear
Based on end-user, infrastructure & transportation is the fastest-growing end-user segment for Gas Insulated Switchgear Market in terms of value, which is projected to register the highest CAGR between 2016 and 2021. High speed infrastructure growth and minimization of CO2 emission by relying on electric traction in railway and metro transportation system are their driving factors.
Asia-Pacific: The leading 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 enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the Gas Insulated Switchgear Market. These players include ABB Ltd. (Switzerland), Mitsubishi Corporation (Japan), General Electric (U.S.), Schneider Electric (France), and Siemens AG (Germany). Leading players are trying to penetrate the markets in developing economies and are adopting various strategies to increase their market share.
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