DUBLIN--(BUSINESS WIRE)--The "Gas Insulated Switchgear Market by Type, Voltage, Installation, End-User and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering
The global gas insulated switchgear market is estimated at USD 18.48 billion in 2018 and is projected to grow at a CAGR of 8.73% to reach USD 28.09 billion by 2023.
This growth is primarily due to rise in renewable power generation, increasing investments in the transmission & distribution infrastructure, escalating energy demand, limitations of space availability in densely populated urban areas, and government initiatives towards improving electricity access.
Medium voltage gas insulated switchgear is expected to grow at the highest CAGR from 2018 to 2023. The market is primarily driven due to the rapid improvement in the power distribution sector through the implementation of smart grid and smart metering technology. This equipment is mainly used by the core sector, power generation, infrastructure, transportation, and distribution system industries. The medium voltage gas insulated switchgear segment is further segmented into primary distribution and secondary distribution.
Asia Pacific is expected to account for the largest market share of the global gas insulated switchgear market in 2018. This trend is projected to continue till 2023. It is the most populated region in the world and consequently 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. China accounted for the largest share of the gas insulated switchgear market in Asia Pacific in 2016 and has the highest installed generation and distribution capacity.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Gas Insulated Switchgear Market, By Type
7 Gas Insulated Switchgear Market, By Voltage
8 Gas Insulated Switchgear Market, By Installation
9 Gas Insulated Switchgear Market, By End-User
10 Gas Insulated Switchgear, By Region
11 Competitive Landscape
12 Company Profiles
- Fuji Electric
- Hyundai Heavy Industries
- Larsen & Toubro
- Mitsubishi Electric
- Nissin Electric
- Schneider Electric
For more information about this report visit https://www.researchandmarkets.com/research/zsxlmk/gas_insulated?w=4