Sep 1, 2020   SOURCE: PR NewsWire

Worldwide Gas-insulated Switchgear Market Trends and Opportunities 2020-2025

DUBLIN, Sept. 1, 2020 /PRNewswire/ -- The "Gas-insulated Switchgear Market - Growth, Trends, and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.

https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

The world market for gas-insulated switchgear is expected to witness a CAGR of more than 5% during the forecast period, 2020-2025.

The gas-insulated switchgear (GIS) is metal-enclosed, which is more environment-friendly, more reliable, and more flexible when compared to air-insulated switchgear (AIS). Due to its space optimization, low maintenance, and protection against external elements, the demand for gas-insulated switchgear is expected to rise in the coming years.

Transformation of the power industry is expected to drive the demand for gas-insulated switchgear market during the forecast period, as GIS type switchgear is preferred for transmission line renovation projects. Factors, such as high equipment cost when compared to AIS, along with stringent environmental and safety regulations related to GIS, are hindering the market growth.

Market Highlights

    --  The gas-insulated medium voltage switchgear (GIS) is anticipated to
        witness significant demand over the forecast period, as it offers
        numerous advantages, such as less field construction work (i.e. quick
        installation time), flexible designs, minimal maintenance, etc.
    --  Growing investments in smart grids and energy systems, and the extension
        or replacement of old switchgears at substations in developed regions
        are expected to create ample opportunities in the GIS market.
    --  Asia-Pacific is expected to dominate the market, with majority of the
        demand coming from the countries, such as India and China.

Key Trends

Medium Voltage GIS to Witness Significant Demand

    --  The medium voltage gas-insulated switchgear segment is expected to
        witness significant demand over the forecast period, due to the rapid
        improvement in the power distribution sector through the implementation
        of smart grid and smart meter technology.
    --  Gas-insulated medium voltage switchgear is widely used in the wind farm
        generators. Medium voltage switchgear of up to 35 kVA SF6 gas-insulated,
        especially used for the protection of wind generators, is installed at
        the remote locations.
    --  According to China's largest state-owned utility corporation, State Grid
        Corporation of China (SGCC), the country's energy demand in 2030 is
        expected to exceed 10 Petawatt hour (PWH). As a result, there is a need
        for the expansion of the existing power transmission network, which is
        expected to drive the demand for medium voltage gas-insulated switchgear
        in the country.
    --  In September 2019, the Power Grid Company of Bangladesh Limited invited
        international competitive bids for the design, supply, installation,
        testing, and commissioning of a 400 kV outdoor gas insulated switchgear
        (GIS) substation at Bogura (West) and Rahanpur, along with the
        upgradation/extension of the Gopalganj and Chapainawabganj (old)
        substations on a turnkey basis.
    --  Therefore, the rising adoption of smart grid technology is expected to
        have a positive impact on the medium voltage switchgear market, during
        the forecast period.

Asia-Pacific to Dominate the Global Market

    --  Asia-Pacific is expected to dominate the gas-insulated switchgear
        market, as the region witnesses a high demand for electricity.
        Countries, such as China, Japan, and India, are investing in their grid
        expansion projects to increase distribution grid reliability.
    --  Due to the unprecedented growth of the economy, coupled with factors,
        such as rapid industrialization and urbanization, China witnessed a high
        demand for electricity, over the past few years.
    --  As the power generation capacity increases, a majority of the emerging
        countries are unable to fulfill the domestic electricity demand.
        Therefore, new power plants are being built in this region.
    --  Moreover, to connect the growing number of power plants and to supply
        electricity to consumers, the region is witnessing a large number of
        transmission and distribution (T&D) network construction projects,
        which, in turn, is driving the demand for switchgear, including
        gas-insulated switchgears, in the utility sector.
    --  Therefore, the trend is expected to continue during the forecast period
        as well, which, in turn, is expected to drive the gas-insulated
        switchgears market in the region.

Competitive Landscape

The gas-insulated switchgear market is moderately fragmented. Some of the key companies in the market include ABB Ltd, Schneider Electric SE, General Electric Company, Eaton Corporation PLC, and Toshiba International Corporation.

Key Topics Covered

1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis

5 MARKET SEGMENTATION
5.1 Voltage Level
5.1.1 Low Voltage
5.1.2 Medium Voltage
5.1.3 High Voltage
5.2 End User
5.2.1 Power Utilities
5.2.2 Industrial Sector
5.2.3 Commercial and Residential Sector
5.3 Geography
5.3.1 North America
5.3.2 Asia-Pacific
5.3.3 Europe
5.3.4 South America
5.3.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 ABB Ltd.
6.3.2 Schneider Electric SE
6.3.3 General Electric Company
6.3.4 Powell Industries Inc.
6.3.5 Eaton Corporation PLC
6.3.6 Toshiba International Corporation
6.3.7 Mitsubishi Electric Corporation
6.3.8 Siemens AG
6.3.9 Hyosung Heavy Industries Corp.
6.3.10 Larsen & Toubro Limited
6.3.11 Bharat Heavy Electricals Limited

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/e0mnyn

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

View original content:http://www.prnewswire.com/news-releases/worldwide-gas-insulated-switchgear-market-trends-and-opportunities-2020-2025-301122329.html

SOURCE Research and Markets