Market Research Future (MRFR), its new report on the Gas Insulated Switchgear (GIS) market 2020 reveals the long term and short-term impact of the COVID-19 pandemic on the market. A detailed analysis report of COVID-19 impact on the s Insulated Switchgear (GIS) market is provided with the report. MRFR states that the on the Gas Insulated Switchgear (GIS) market is likely to rise exponentially as they are gaining high popularity in electrical substation.
The increase in power consumption across the globe can support the expansion of the global gas insulated switchgears market. In addition, the rise in the adoption of electricity-based equipment, vehicles, appliances, and others boosting the demand for power can impel the expansion of the market. Advancements in electricity distribution network can bolster the expansion of the Gas Insulated Switchgear market.
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A significant rise in electric power consumption in recent years and increase in the demand for electricity for numerous electrification projects can support the expansion of the market in different developing countries. The increase in power consumption rate and hike in per capita power consumption in developed countries is observed as major factor that can promote the expansion of the gas insulated switchgear market.
The segment study of the global Gas Insulated Switchgear Market is based on voltage, end-user, and installation.
The end-user-based Gas Insulated Switchgear market are manufacturing & processing, infrastructure & transportation, transmission & distribution, and others. The constant rise in need for T&D network transmission can drive the expansion of the high voltage substations.
The installation-based segments of the Gas Insulated Switchgear market are indoor and outdoor. The rise in outdoor Gas Insulated Switchgear infrastructure can impel the expansion of the Gas Insulated Switchgear market across the review period.
The voltage-based segments of the gas insulated switchgear market are up to 36 kV and greater than 36 kV. The growing applications of greater than 36 kV gas insulated switchgear can boost the expansion of the market.
The end-user-based segments of the gas insulated switchgear market are transmission and distribution, manufacturing and processing, and infrastructure and transportation.
The manufacturing and processing followed by transmission and distribution segment can bring high traction.
The regional study of the Global Gas Insulated Switchgear market by MRFR reveals that the market in North America is expected to rise at a substantial high growth pace across the forecast period. It is due to increase in renewable power generation and high investments made by these key players in research and development projects based on transmission and distribution infrastructure can boost the expansion of the gas insulated switchgear market across the review period. North America Gas Insulated Switchgear market value is expected to rise from USD 282 billion to USD 351 billion from 2016 to 2026 at 2.2% CAGR states MRFR.
In APAC, the pressing need for electricity and high electricity capacity additions in emerging economies due to the need for electricity generation can boost the expansion of the regional market across the review period. Major economies, such as India and rest of the world are largely invested in grid expansion projects in order to increase distribution grid reliability, which can bolster the expansion of the market in near future.
MRFR registered some reputed players in the global Gas Insulated Switchgear market. They are; ABB (Switzerland), Hyosung (China), Larsen &Toubro (India), Toshiba (Japan), Siemens (Germany), CG Power (India), Fuji Electric (Japan), General Electric (US), Nisin Electric (Japan), Mitsubishi Electric (Japan), and others.
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