Gas Insulated Power Equipment - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Gas Insulated Power Equipment market accounted for $17.00 billion in 2017 and is expected to reach $40.08 billion by 2026 growing at a CAGR of 10.0 % during the forecast period. Factors such as the demand for advanced power grid infrastructure, increase in demand for compact substation units, rising implementation of smart grid and smart metering technology are boosting the market growth. However, strict environmental & safety regulations and the huge cost of equipments are hampering the market growth.
Gas Insulated Power Equipment is the apparatus used for regulating, switching, and controlling on or off the electric circuit in the electricity system. The switchgear system is linked directly to the electricity supply system. It is integrated with both the low and high voltage area of the power transformer. Their transmission lines are the flexible and safe alternative when compared to overhead lines and occupy less space while offering the same electricity transmission.
By application, gas insulated transmission lines segment has growing importance as it offers high-power ratings, auto-reclosing functionality, high short-circuit withstand capability and low electromagnetic field emission. By geography, Asia Pacific is likely to have a huge demand due to the growing power demand from emerging nations. Developing countries that include India and China are considered as favorable countries as they continue to complement the conventional power infrastructure and capacities to meet the power demand.
Some of the key players in this market include Xi’an XD Switchgear Electric, Toshiba Corporation, Siemens , Schneider Electric, Ormazabal Electric, Mitsubishi Electric Corporation, Meidensha Corporation, Larsen & Toubro, Iljin Electric, Hyundai Electric & Energy Systems, Hyosung Heavy Industries, Hitachi Ltd, General Electric, Fuji Electric, Chint Group, CG Power and Industrial Solutions Ltd, Bharat Heavy Electricals Limited and ABB Limited .
• HVAC(High-Voltage Alternating Current)
• HVDC(High-Voltage Direct Current)
• Gas Insulated Transmission lines
• Other Types
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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