Gas-Insulated Switchgear Market by Voltage Rating, Insulation Type, Installation, End-user, and Region - Global Forecast to 2025

DUBLIN, July 1, 2020 /PRNewswire/ -- The "Gas-Insulated Switchgear Market by Voltage Rating, Insulation Type, Installation (Indoor, Outdoor), End User (Transmission Utility, Distribution Utility, Generation Utility, Railways & Metros, Industry & OEM), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

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The gas-insulated switchgear market is projected to grow from USD 16,879 million in 2020 to USD 26,535 million by 2025, at a CAGR of 9.5%.

The factors driving the growth for gas-insulated switchgear are the growing investments in renewable energy and government initiatives to reduce carbon emissions along with the expansion of electrical grids due to the growing industrialization and urbanization.

The SF6 segment is expected to dominate the gas-insulated switchgear market during the forecast period

The SF6 segment is anticipated to constitute the majority of the gas-insulated switchgear market share. A gas-insulated switchgear uses the dielectric gas sulfur hexafluoride, also known as SF6, at moderate pressure for phase-to-phase and phase-to-ground insulation. High-voltage conductors, interrupters, circuit breakers, switches, voltage transformers, and current transformers are in SF6 inside a metal enclosure. A global increase in the demand for electricity is expected to drive the demand for gas-insulated switchgears across various sectors, such as the power distribution utility, power transmission utility, and power generation utility. Thus, the growing demand for power will boost the demand for gas-insulated switchgears during the forecast period. However, COVID-19 is expected to delay the ongoing projects, which will negatively impact the demand for gas-insulated switchgear in the next 2 years.

SF6-free is expected to grow at the highest rate during the forecast period.

SF6 gas has been used as the standard gas inside high-voltage electrical equipment as an arc-quenching and insulating medium; however, it is not environmentally friendly. SF6 is also listed by the Kyoto Protocol as an extremely potent greenhouse gas, with 23,500 times the comparative global warming potential of CO2. Due to this, manufacturers were trying to find a potential replacement for it in power equipment; to this end, Siemens and ABB launched an environment-friendly dielectric gas. For instance, Siemens developed an SF6-free gas-insulated switchgear for the 170-kV voltage level that uses treated air, known as Clean Air made up of nitrogen (80%) and oxygen (20%), as an alternative to SF6 as the insulating medium. Also, ABB developed AirPlus, a gas-insulated switchgear which uses a gas mixture with 99.99% lower global warming potential. Thus, growing environmental concerns are likely to enhance the demand for SF6-free gas-insulated switchgears.

APAC is expected to grow at the highest rate during the forecast period

APAC is currently the fastest-growing gas-insulated switchgear market, followed by North America and Europe. An increase in the consumption and production of electricity in APAC countries, such as China and India, is expected. The growing demand for electricity due to a growing population will lead to an increase in the transmission and distribution system, which is expected to boost the demand for gas-insulated switchgear. COVID-19 is drastically affecting both the service and manufacturing sectors alike. With more and more countries resorting to nationwide lockdowns to prevent a further spike in the spread of disease, the Asian economy has slowed down due to a high number of COVID-19 cases in countries such as China and India; this is expected to affect the regional gas-insulated switchgear market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary
3.1 Scenario Analysis

4 Premium Insights
4.1 Attractive Opportunities in the Gas-Insulated Switchgear Market
4.2 Gas-Insulated Switchgear Market (Value), by Region
4.3 Gas-Insulated Switchgear Market, by Insulation Type
4.4 Gas-Insulated Switchgear Market, by Installation
4.5 Gas-Insulated Switchgear Market, by Voltage Rating
4.6 Gas-Insulated Switchgear Market, by End User

5 Market Overview
5.1 Introduction
5.2 COVID-19 Health Assessment
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Growing Investments in Renewable Energy and Government Initiatives in Reducing Carbon Emissions
5.3.1.2 Increasing Developments in T&D and Smart Infrastructure
5.3.1.3 Rising Energy Demand and Limitation of Space Availability in Densely Populated Urban Areas
5.3.1.4 Surging Government Initiatives to Improve Electricity Access in Rural Areas
5.3.2 Restraints
5.3.2.1 Competition from Unorganized or Fragmented Switchgear Markets
5.3.2.2 Stringent Environmental & Safety Regulations along with High-Cost Equipment
5.3.3 Opportunities
5.3.3.1 Development of an Environmental-Friendly Alternative to Sf6 Gas
5.3.3.2 Adoption of Hvdc Technology
5.3.4 Challenges
5.3.4.1 Delays in Grid Expansion Projects
5.3.4.2 COVID-19

6 Scenario Analysis
6.1 Optimistic Scenario
6.2 Realistic Scenario
6.3 Pessimistic Scenario

7 Gas-Insulated Switchgear Market, by Installation
7.1 Introduction
7.2 Indoor
7.2.1 Growing Industrial and Commercial Sector in Developing Countries to Increase Demand
7.3 Outdoor
7.3.1 Growing Electricity Demands Leading to Increasing Investments in Transmission and Distribution Network to Drive Demand

8 Gas-Insulated Switchgear Market, by Insulation Type
8.1 Introduction
8.2 Sf6
8.2.1 High Dielectric Property and Less Space Requirement for Installation to Increase Demand
8.3 Sf6-Free
8.3.1 Environment-Friendly Properties to Drive Demand

9 Gas-Insulated Switchgear Market, by Voltage Rating
9.1 Introduction
9.2 Up to 36 Kv
9.2.1 Growing Industrial & Commercial Sector in Developing Countries to Boost Demand
9.3 Between 36 Kv and 72.5 Kv
9.3.1 Growing Urbanization and Investments in Transmission Network to Drive Demand
9.4 Between 72.5 Kv and 220 Kv
9.4.1 Investments in Electrical Transmission Network to Drive Demand
9.5 Above 220 Kv
9.5.1 Rapid Increase in Electricity Demand and Upgradation of High-Voltage Substations to Drive Demand

10 Gas-Insulated Switchgear Market, by End User
10.1 Introduction
10.2 Power Transmission Utility
10.2.1 Expanding Power Transmission Network in Developing Countries to Increase Demand
10.3 Power Distribution Utility
10.3.1 Growing Urbanization and Space Constraints in Urban Areas to Drive Demand
10.4 Power Generation Utility
10.4.1 Growing Power Requirements to Spur Demand
10.5 Railways & Metros
10.5.1 Growing Investments in Railways to Promote Demand
10.6 Industries & Oem
10.6.1 Growing Industrial Sector to Boost Demand
10.7 Commercial
10.7.1 Growing Infrastructure and Economies to Propel Demand

11 Gas-Insulated Switchgear Market, by Region
11.1 Introduction
11.1.1 Impact of COVID-19 on Global Economy
11.1.2 by Region
11.2 Asia Pacific
11.3 Europe
11.4 North America
11.5 Middle East & Africa
11.6 South America

12 Competitive Landscape
12.1 Overview
12.2 Competitive Leadership Mapping (Overall Market)
12.2.1 Visionary Leaders
12.2.2 Innovators
12.2.3 Dynamic Differentiators
12.2.4 Emerging Companies
12.3 Market Share, 2019
12.4 Competitive Scenario
12.4.1 New Product Launches
12.4.2 Mergers & Acquisitions
12.4.3 Contracts & Agreements
12.4.4 Investments & Expansions
12.4.5 Others

13 Company Profiles
13.1 ABB
13.2 Siemens
13.3 Schneider Electric
13.4 General Electric
13.5 Eaton Corporation
13.6 Mitsubishi Electric
13.7 Hitachi
13.8 Hyundai Electric & Energy Systems
13.9 Fuji Electric
13.10 Crompton Greaves Power and Industrial Solutions
13.11 Larsen & Toubro
13.12 Nissin Electric
13.13 Meidensha Corporation
13.14 Powell Industries
13.15 Elecktrobudowa SA
13.16 Iljin Electric
13.17 Hyosung
13.18 Chint
13.19 Toshiba Energy Systems & Solutions Corporation
13.20 Sel S.P.A

For more information about this report visit https://www.researchandmarkets.com/r/vg1vn1

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