According to the new market research report "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",published by MarketsandMarkets™, is projected
to grow from USD 16.9 billion in 2020 to USD 26.5 billion by 2025, at a CAGR of
9.5%.
The SF6segment 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. Due to COVID-19, the US has a negative growth
rate of -2.45% in the manufacturing sector in the first quarter when compared
to China’s -3.25%. India, Japan, and Europe registered a negative growth of
-3.98%, 2.77%, and -2.89%, respectively, in their manufacturing sectors.
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The power transmission utility segment is expected to be the most
significant Gas-insulated Switchgear Market
The power transmission segment has the largest share of
the Gas-insulated Switchgear Market owing to the global growth in the
production and consumption of electricity. Transmission utilities own and
operate the transmission system. Thus, the growing demand for power will
necessitate the expansion of the transmission network, thereby enhancing the
demand for electrical components, e.g., gas-insulated switchgears. But due to
COVID-19 lockdowns, utilities are at a standstill, which has resulted in losses
for companies. This has a negative impact on the growth of the Gas-insulated
Switchgear Market.
The SF6 segment is expected to be the largest Gas-insulated Switchgear
Market
The SF6 segment is expected to have the largest market
share during the forecast period. SF6-filled gas-insulated switchgears are
preferred over air-insulated switchgears where space is a constraint because
air-insulated switchgears require meters of air as an insulation medium to do
what SF6-filled switchgears can do in centimeters. Therefore, SF6-filled
gas-insulated switchgears can be 10 times smaller than air-insulated
switchgears. A majority of the existing and new gas-insulated switchgears use
SF6 gas as the dielectric medium. Thus, the demand for gas-insulated
switchgears is expected to grow due to the space constraints in urban areas.
Asia Pacific is expected to dominate the global Gas-insulated
Switchgear Market
In this report, the Gas-insulated Switchgear Market has
been analyzed for 5 regions, namely Asia Pacific, North America, Europe, Middle
East & Africa, South America. Asia Pacific is expected to lead the market
during the forecast period.
The rapid increase in the demand for electricity and an
increase in the power generation capacity in developing countries such as India
and China, along with the growth in industrial and commercial sectors, will
lead to an increase in the number of substations. Growth in the number of
substations will propel the demand for gas-insulated switchgears in Asia
Pacific. However, COVID-19 has negatively impacted the power industry globally
in the past 2 months. The demand curve for electricity has taken up new shapes,
mainly in those countries where the impact of COVID-19 is high. The decreasing
demand for electricity is caused by lockdowns across countries to mitigate the
spread of the virus. This will have a negative impact on the growth of the Gas-insulated
Switchgear Market for a considerable period of time.
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To enable an in-depth understanding of the competitive
landscape, the report includes the profiles of some of the top players in the Gas-insulated
Switchgear Market. These include ABB (Switzerland), Schneider Electric
(France), Siemens (Germany), Eaton Corporation (Ireland), and General Electric
(US). The leading players are trying to establish themselves in the markets of
developed countries and are adopting various strategies to increase their
respective market shares.
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