LONDON--(BUSINESS WIRE)--Technavio has published a new report on the global gas insulated switchgear (GIS) market, which is expected to post a CAGR of nearly 10% from 2015-2019.
GIS: About the Report
The new market research report by Technavio indicates that world energy consumption was 598 quadrillion BTUs (British thermal units) in 2013, and this is expected to expand to 820 quadrillion BTUs in the next two decades.
“More than 85% of the increased demand for energy worldwide from 2010 to 2040 is expected to come from developing countries that register strong economic growth and have expanding populations,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also emphasizes the unprecedented rise in demand for integration of solar and wind energy into the electrical grid system.
“Companies are widely focusing on harnessing the renewable sources of energy, which can be used as substitutes for existing thermal energy and other hydrocarbon energy sources,” says Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the global gas insulated switchgear (GIS) market from 2015-2019. To calculate the market size, we considered the revenue generated from the following product segments:
- Medium voltage GIS (≤ 52 kV)
- High voltage GIS (≥ 52 kV)
Key Information Covered in the Report:
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Key Vendors:
- ABB Ltd.
- Alstom SA
- Hitachi Ltd.
- Schneider Electric SE
- Siemens AG
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Market Growth Drivers:
- Advances in technology
- For a full detailed list, view our report.
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Market Challenges:
- Harmful effects of SF6
- For a full detailed list, view our report.
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Market Trends:
- Replacing 100% SF6 to 80% N2 and 20% SF6
- For a full detailed list, view our report.
Technavio currently has more than 3000 market research reports on a huge range of topics, including 50+ reports on the switchgear market:
If you are interested in more information, please contact our media team at media@technavio.com.
