Lewes, Delaware, July 17, 2024 (GLOBE NEWSWIRE) -- The Global Gas Insulated Switchgear Market Size is projected to grow at a CAGR of 8.36% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 25.73 Billion in 2024 and is expected to reach USD 48.92 Billion by the end of the forecast period.
Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample?rid=24621
Browse in-depth TOC on “Global Gas Insulated Switchgear Market Size”
202 - Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | ABB Ltd., Siemens AG, Schneider Electric SE, Mitsubishi Electric Corporation, General Electric Company, Hitachi Ltd., Hyundai Electric & Energy Systems Co., Ltd., Toshiba Corporation, Larsen & Toubro Limited, Nissin Electric Co., Ltd. |
| SEGMENTS COVERED | By Installation Type, By Voltage Level, By Application, and By Geography |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Gas Insulated Switchgear Market Overview
Urbanization and Space Constraints: The process of urbanization is increasing the need for dependable electricity delivery in confined areas. The compact nature of Gas Insulated Switchgear (GIS) provides an optimal solution for locations with high population density, hence enhancing market expansion. The adoption of GIS is greatly influenced by this urban tendency.
Technological Advancements: The continuous progress in GIS technology, including improved safety features and automation, is driving the expansion of the market. These advancements result in enhanced effectiveness and dependability, establishing GIS as the preferred option for contemporary power systems, therefore propelling market growth.
Renewable Energy Investments: The increase in renewable energy initiatives necessitates resilient and dependable power distribution infrastructure. GIS facilitates the integration of renewable energy sources, enabling a smooth transition to sustainable power solutions and promoting market expansion.
To Purchase a Comprehensive Report Analysis: https://www.verifiedmarketresearch.com/download-sample?rid=24621
High Initial Costs: Potential customers may be discouraged by the substantial upfront expenditure needed for Gas Insulated Switchgear systems. Although there are long-term advantages in terms of savings and efficiency, the initial expenses still provide a major obstacle to entering the market, which hinders general acceptance.
Complex Maintenance: The maintenance of Geographic Information Systems (GIS) requires specific expertise and technology, which can be intricate and expensive. The intricacy of GIS systems can result in higher operational costs and the risk of system downtime, which discourages enterprises from adopting these solutions and limits market expansion.
Environmental Regulations: The market expansion is challenged by strict environmental laws about SF6 gas, which is utilized in GIS. The Gas Insulated Switchgear Market may face constraints due to the increased operational expenses and complicated production processes resulting from compliance with these laws.
Geographic Dominance:
The Gas Insulated Switchgear (GIS) market is primarily dominated by the Asia-Pacific region. This is attributed to the region's fast-paced urbanization, industrial expansion, and substantial investments in power infrastructure. Countries such as China and India play a significant role in contributing to the issue. This dominance stimulates market expansion by generating a higher demand for dependable and space-saving power systems. Moreover, the presence of advantageous government policies and the implementation of extensive renewable energy initiatives in this area contribute to the growth of the industry. Hence, the Asia-Pacific region's supremacy is vital for the overall expansion of the GIS market.
Gas Insulated Switchgear Market Key Players Shaping the Future
Major players, including ABB Ltd., Siemens AG, Schneider Electric SE, Mitsubishi Electric Corporation, General Electric Company, Hitachi Ltd., Hyundai Electric & Energy Systems Co., Ltd., Toshiba Corporation, Larsen & Toubro Limited, Nissin Electric Co., Ltd. and more, play a pivotal role in shaping the future of the Gas Insulated Switchgear Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry's key players.
Gas Insulated Switchgear Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Gas Insulated Switchgear Market into Installation Type, Voltage Level, Application, And Geography.
To get market data, market insights, and a comprehensive analysis of the Global Gas Insulated Switchgear Market, please Contact Verified Market Research®.
- Gas Insulated Switchgear Market, by Installation Type
- Indoor GIS
- Outdoor GIS
- Gas Insulated Switchgear Market, by Voltage Level
- Medium-voltage GIS
- High-voltage GIS
- Gas Insulated Switchgear Market, by Application
- Power Transmission
- Power Distribution
- Industrial Applications
- Gas Insulated Switchgear Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
Browse Related Reports:
Global DC Switchgear Market Size By Voltage (Up To 750 V, 1,800 V To 3,000 V, Above 10 kV, 750 V To 1,800 V, 3,000 V To 10 kV), By Deployment Type (Fixed Mounting, Plug-In, Withdrawable Units), By Application (Railways, Power Generation, Marine, Battery Storage, Solar Farms, EV Charging Infrastructure), By Geography, And Forecast
Global Electricity Transmission And Distribution Market Size By Product (Transformers, Switchgear, Transmission Tower), By Application (Residential, Industrial And Agriculture), By Geography, And Forecast
Global Power Distribution Component Market Size By Product Type (Switchgear, Switchboard, Distribution Panels, Motor Control Panels), By Application (Residential, Commercial, Industrial), By Geography, And Forecast
Global Power Grid Market Size By Component (Transformers, Switchgear), By Application (Generation, Transmission), By Geography, And Forecast
Top 7 Semiconductor And Circuit Companies consolidating ‘new age’ technologies
Visualize Gas Insulated Switchgear Market using Verified Market Intelligence -:
Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.
VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.
About Us
Verified Market Research® stands at the forefront as a global leader in Research and Consulting, offering unparalleled analytical research solutions that empower organizations with the insights needed for critical business decisions. Celebrating 10+ years of service, VMR has been instrumental in providing founders and companies with precise, up-to-date research data.
With a team of 500+ Analysts and subject matter experts, VMR leverages internationally recognized research methodologies for data collection and analyses, covering over 15,000 high impact and niche markets. This robust team ensures data integrity and offers insights that are both informative and actionable, tailored to the strategic needs of businesses across various industries.
VMR's domain expertise is recognized across 14 key industries, including Semiconductor & Electronics, Healthcare & Pharmaceuticals, Energy, Technology, Automobiles, Defense, Mining, Manufacturing, Retail, and Agriculture & Food. In-depth market analysis cover over 52 countries, with advanced data collection methods and sophisticated research techniques being utilized. This approach allows for actionable insights to be furnished by seasoned analysts, equipping clients with the essential knowledge necessary for critical revenue decisions across these varied and vital industries.
Verified Market Research® is also a member of ESOMAR, an organization renowned for setting the benchmark in ethical and professional standards in market research. This affiliation highlights VMR's dedication to conducting research with integrity and reliability, ensuring that the insights offered are not only valuable but also ethically sourced and respected worldwide.
