Gas Insulated Switchgear Market Set for Rapid Growth and Trend, by 2023

The global gas insulated switchgear market was valued at USD 16.94 Billion in 2017 and is projected to reach USD 28.09 Billion by 2023, at a CAGR of 8.73% during the forecast period.

Major players operating in the market include ABB (Switzerland), Siemens (Germany), Hitachi (Japan), Toshiba (Japan), and Nissin Electric (Japan).

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Objectives of the Study

• To define and segment the gas insulated switchgear market with respect to type, voltage, installation, end-user, and region.
• To provide detailed information on the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze the gas insulated switchgear market with respect to individual growth trends, future expansions, and contributions to the market
• To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
• To forecast the growth of the gas insulated switchgear market with respect to the major regions (Asia Pacific, Europe, North America, South America, and the Middle East & Africa)
• To strategically profile key players and comprehensively analyze their market rankings and core competencies
• To analyze competitive developments, such as contracts & agreements, new product developments, mergers & acquisitions, investments and expansions, partnerships, joint ventures, and collaborations in the gas insulated switchgear market

Research Methodology

This research study involved the use of extensive secondary sources, directories, journals on power generation technologies, and other related markets; newsletters and databases such as D&B, Bloomberg, Businessweek, and Factiva, among others, to identify and collect information useful for a technical, market-oriented, and commercial study of the global variable speed generator market. The primary sources include several industry experts from the core and related industries, vendors, preferred suppliers, technology developers, alliances, and organizations related to all the segments of this industry’s value chain.

To know about the assumptions considered for the study, download the pdf brochure

In this report, the gas insulated switchgear market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Asia Pacific is estimated to grow at the highest CAGR during the forecast period. Factors such as increased power consumption; government mandates on energy efficiency; rising influx of renewable sources in the energy mix; and renovation, modernization, and upgradation of aging hydropower plants are to drive the gas insulated switchgear market in the region.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues