According to the latest report by IMARC Group "Gas Insulated Switchgear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026", the global gas insulated switchgear market exhibited moderate growth during 2015-2020. Looking forward, the market expects to grow at a CAGR of around 6% during 2021-2026.
A gas insulated switchgear (GIS) is a high-voltage substation that encapsulates compact metal structures consisting of various components, such as circuit breakers, disconnectors, switches, and relays. It uses an insulating medium, like sulfur hexafluoride (SF6), to control, isolate and protect electrical equipment during adverse conditions. As compared to the traditionally utilized air-insulated switchgears, GIS is more reliable, environment-friendly, flexible, cost-effective, and requires less maintenance. On account of these properties, it is installed on the extensions of buildings, industrial plants, and offshore platforms.
The rapid development of smart grids and increasing investments in renewable energy systems by governments of various nations to reduce carbon emissionsare majorly driving the global GIS market. Rising urbanization and industrialization have led to an increase in global power consumption, which is further propelling the market growth. Additionally, there has been anincrease in the utilization of GIS to establish efficient distribution channels and transmission lines in numerous emerging economies, which is acting as another growth-inducing factor.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Image Recognition Market Coverage and Segmentation 2021-2026:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- ABB Ltd (ABB)
- Alstom SA (ALO.PA)
- Bharat Heavy Electricals Limited
- Eaton Corporation
- General Electric Company
- Hitachi, Larsen & Toubro
- Mitsubishi Electric
- Powell Industries
- Schneider Electric
- Toshiba International Corporation
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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Type:
- High Voltage GIS
- Medium Voltage GIS
- Low Voltage GIS
Breakup by Installation:
Breakup by Technology:
- Hybrid Switchgear
- Integrated Three Phase
- Compact Gas Insulated Switchgear
Breakup by Voltage:
- <38 kV
- 38 kV to 72 kV
- 73 kV to 150 kV
- > 150 kV
Breakup by End-Use Sector:
- Power Transmission
- Power Distribution
- Power Generation
- Infrastructure and Transportation
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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