DUBLIN--(BUSINESS WIRE)--The "Gas Insulated Transformer Market by Type (Instrument Transformer, Others), Voltage (Medium Voltage, High Voltage, Extra High Voltage), Installation (Outdoor, Indoor), End-User (Utility, Industrial, Commercial), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The gas insulated transformer market is expected to grow from USD 2.75 billion in 2018 to USD 3.45 billion by 2023, at a CAGR of 4.61%.
Gas insulated transformers are oil-free, nonflammable, and nonexplosive. These transformers use SF6 gas as the cooling and insulating medium, and are preferred over oil transformers during installations next to water bodies. Factors such as low spatial requirements, no risk of oil leakage, and compact size are driving the gas insulated transformer market.
The utility segment is expected to be the fastest-growing market for gas insulated transformers during the forecast period. The growth of the market for this segment is attributed to the rise in urbanization, which has led to the increase in investments in the power infrastructure, and the growing demand for reliable power supply. The increase in demand for reliable power supply is expected to lead to the development in the transmission and distribution infrastructure, which, in turn, increases the demand for gas insulated substations and installation of gas insulated transformer.
Asia Pacific is expected to hold the largest share of the global gas insulated transformer market by 2018, and this trend is projected to continue till 2023. The market in this region is expected to witness the highest CAGR with the countries such as China, Japan, and India actively investing in their grid expansion projects to increase the reliability of transmission and distribution grids. Asia Pacific is the most populated region in the world and consequently witnesses high demand for electricity.
- Mitsubishi Electric
- Hyosung Corporation
- Fuji Electric
- Nissan Electric
- Chint Group
- Takaoka Toko Co., Ltd.
- Yangzhou Power Electric Co., Ltd.
- Kharkovenergopribor Ltd.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Gas Insulated Transformer Market, By Voltage
7 Gas Insulated Transformer Market, By Type
8 Gas Insulated Transformer Market, By Installation
9 Gas Insulated Transformer Market, By End-User
10 Gas Insulated Transformer Market, By Region
11 Competitive Landscape
12 Company Profiles
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