Dublin, March 10, 2023 (GLOBE NEWSWIRE) -- The "Global Gas Insulated Switchgear Market Size and Share Analysis by Installation, Insulation Type, Voltage Rating, Configuration, End-user - Industry Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The total size of the gas insulated switchgear market was USD 22,457.4 million in 2022, and it will hit USD 36,400.7 million by 2030, advancing at a rate of 6.2% by the end of this decade, as per the report.
The indoor category had the larger share, about 70%, in the past because indoor switchgear is much safer and dependable, needs less space than an outdoor system, and more robust and easier to uphold. Because of the grounded metal enclosures, the danger of electrocution is also reduced.
Also, it is more safe and less susceptible to ecological factors. The outdoor category will grow at over 6% in the years to come. This substation was installed for meeting high voltage needs not associated with building construction. These substations are intended for voltage levels more than 66kV. Furthermore, it makes it simple to surge the fitting of outdoor substations and visualize the gear of the outside substation.
The hybrid category dominated the gas insulated switchgear market with, over 40%, in the recent past. With the merger of more functions, the separation between components nearly reaches zero. The requirement for site space is greater for the AIS since permissions must be upheld between precise pieces of equipment, including CT, CB, ground switches, disconnectors, etc.
Furthermore, high-quality maintenance and preservation are required for AIS components. Instead, GIS has parts requiring less maintenance and upkeep. The incorporation of AIS and GIS nearly removes the necessity for maintenance of hybrid switchgear.
The power utility category dominated the industry and also will have the fastest growth in the years to come. The network of transmission has grown globally because of the increasing power requirements brought on by growing urbanization and population.
The transmission network will develop because of the increasing population, escalating the count of substations. This increase in substations will increase the requirement for gas-insulated switchgear.
APAC dominated the industry with around 40%, in the recent past because of the growing demand for electricity and increasing urbanization. Furthermore, 2.2 billion people, or 54% of the global metropolitan population, reside in APAC. Also, the region's urban population will increase by 50% by 2050, or by a further 1.2 billion people.
North America followed APAC in the past because of the increasing requirement for electricity and surging renewable energy. In the U.S., numerous sources of energy and technologies are put to use for generating electricity. Over time, technology and sources have changed, and some are now used more often than others.
It is because of the increasing demand for electricity all over the globe, the requirement for gas insulated switchgear will continue to grow considerably in the years to come.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $22457.4 Million |
| Forecasted Market Value (USD) by 2030 | $36400.7 Million |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
Company Profiles
- ABB Group
- General Electric Company
- Siemens AG
- Schneider Electric SE
- Mitsubishi Electric Corporation
- Eaton Corporation plc
- Hitachi Ltd.
- Hyundai Electric & Energy Systems Co. Ltd.
- Fuji Electric Co. Ltd.
- Toshiba Energy Systems & Solutions Corporation
- CG Power & Industrial Solutions
- Meidensha Corporation
For more information about this report visit https://www.researchandmarkets.com/r/jutrpm
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