Industrial Research Report: Gas Insulated Switchgear Market
Report ID: AA0623409
Gas-insulated switchgear market: Expected to reach 3.916 billion dollars by 2030 with a CAGR of 6.7%.
Gas Insulated Switchgear (GIS) is a compact metal-insulated switchgear that uses high-voltage fuses to prevent overcurrent. The GIS market was valued at $21.85 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 6.7% during the forecast period from 2022 to 2030, reaching $39.16 billion by 2030. Its compact size allows for operation in various locations such as offshore platforms, underground buildings, rooftops, hydropower plants, and industrial facilities. Overview of Segmentation: The global gas insulated switchgear market is classified based on installation, insulation, rated voltage, configuration, end-user, and region. By Installation Location Indoor Outdoor By Insulation Material SF6 SF6 Free By Rated Voltage Below 36KV 37-73KV 74-220KV Above 220KV By Configuration Hybrid Single Phase Three Phase Integrated Compact GIS By End-User Transmission Equipment Power Distribution Equipment Generation Equipment Railway & Metro Industrial & OEM Commercial
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There are several factors driving this growth: the increase in energy demand from the industrial, commercial, and residential sectors, the adoption of smart grids and advanced metering technologies, and government initiatives to build smart grid infrastructure. However, government regulations and high equipment costs may limit market expansion. Key companies: ABB Alstom Bharat Heavy Electricals Limited CG Power Eaton Corporation Fuji Electric General Electric Company Hitachi Hyosung Hyundai Electric & Energy Systems Co., Ltd. Larsen & Turbo Meidensha Mitsubishi Electric Nisin Electric Ormazabal Powell Industries Schneider Electric Siemens Toshiba Energy Systems & Solutions Corporation
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