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Europe HV Gas Insulated Switchgear (GIS) Market Trends

Report ID: GMI7375
Published Date: Nov 2023
Report Format: PDF

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Europe HV Gas Insulated Switchgear Market Trends

The growing utilization of renewable energy sources, coupled with advancements in distributed generation technologies, offers substantial potential for the expansion of micro-grid networks. The broad adoption of micro-grid technologies is anticipated to have a beneficial impact on the industry's growth. Moreover, diversification in technology, in line with the ongoing development of decentralized power generation, and increasing concerns regarding energy security, will further enhance the industry's prospects. Furthermore, the proliferation of the renewable energy sector, supported by favorable regulatory measures aimed at segmenting and upgrading existing grid technologies, is poised to positively influence the industry's overall dynamics.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of Europe HV gas insulated switchgear was worth USD 4.1 billion in 2022 and is projected to grow at 8.9% through 2032, driven by the deployment of smart grid technologies across the region.

The offshore wind application segment is anticipated to grow at a 18.4% CAGR through 2032, owing to technological progress and the advantages of economies of scale.

Germany hv gas insulated switchgear market held around 11.9% revenue share in 2022, owing to nation’s commitment to reducing greenhouse gas emissions and transitioning to sustainable energy sources, as outlined in its Energiewende policy.

Siemens Energy, LS ELECTRIC Co., Ltd, Toshiba Energy Systems & Solutions Corporation, CG Power & Industrial Solutions Ltd., GE, Mitsubishi Electric Corporation, Hitachi Energy Ltd., Fuji Electric Co., Ltd are some of the leading market players.