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Gas Insulated Switchgear Market Share
- Report ID: GMI1929
- Published Date: Sep 2022
- Report Format: PDF
Gas Insulated Switchgear Market Share
Major companies operating in the GIS industry are:
- Ormazabal
- ABB
- Eaton
- Schneider Electric
- Siemens
- Toshiba Energy Systems & Solutions Corporation
- GE
- Mitsubishi Electric Corporation
- Hyundai Electric & Energy Systems Co., Ltd.
These leaders are focusing on expanding their business and product reach to boost their presence in the global market.
Frequently Asked Questions (FAQ) :
The market size of gas insulated switchgear surpassed USD 20 billion in 2021 and is set to depict a CAGR of over 8% through 2030, due to the rapid upgradation of aging grid infrastructure.
The <38 kV segment registered high revenue in 2021 driven by increased product usage in the power and infrastructure process industries.
The high voltage segment is anticipated to record substantial revenue by 2030, given the high dependence on large-scale power generation and manufacturing industries.
The transmission and distribution segment is slated to exhibit a growth rate of over 8% through 2030, driven by the robust power demand and the expansion of utility-based establishments, especially in urban and rural areas.
The North America GIS market registered revenue of more than USD 1 billion in 2021, owing to the rising government initiatives to upgrade and replace electrical networks.
Ormazabal, ABB, Eaton, Siemens, Toshiba Energy Systems & Solutions Corporation, GE, Mitsubishi Electric Corporation, and Hyundai Electric & Energy Systems Co., Ltd. are some of the key companies partaking in the market.
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