The Latest Gas Insulated Switchgear Industry Statistics Explained
The global Gas Insulated Switchgear Market size was valued at USD 21.13 billion in 2018.
The statistic stating that the global Gas Insulated Switchgear Market size was valued at USD 21.13 billion in 2018 indicates the total monetary value of all gas insulated switchgear products sold and installed worldwide during that year. Gas insulated switchgear refers to electrical equipment used to control, protect, and isolate electrical circuits in power transmission and distribution systems. The market size figure signifies the significant economic importance and widespread adoption of gas insulated switchgear technology in various industries and applications. This statistic serves as a key indicator for industry stakeholders, policymakers, and investors to understand the market trends, growth potential, and overall health of the gas insulated switchgear market.
Gas Insulated Switchgear market is projected to grow at a rate of 8% in terms of value from 2019 to reach USD 11.72 Billion by 2027.
The statistic states that the Gas Insulated Switchgear market is expected to experience a significant growth rate of 8% in terms of value from 2019 to 2027. This means that the market for Gas Insulated Switchgear, which refers to a type of equipment used in electrical power transmission and distribution systems, is predicted to expand steadily over the specified timeframe. By the end of 2027, the market is projected to reach a value of USD 11.72 Billion, indicating substantial growth and increasing demand for this particular technology in the coming years.
By 2025, the Asia Pacific Gas Insulated Switchgear market is expected to account for nearly 45% of the global market.
This statistic indicates that by the year 2025, the Asia Pacific Gas Insulated Switchgear market is projected to grow significantly and represent approximately 45% of the total global market share. This suggests a substantial increase in the demand for gas-insulated switchgear technologies in the Asia Pacific region, including countries like China, Japan, South Korea, and India. Factors driving this growth could include urbanization, industrialization, infrastructure development, and increasing investments in electricity transmission and distribution networks. The dominance of the Asia Pacific region in the gas-insulated switchgear market by 2025 highlights the region’s pivotal role in shaping the global energy industry and transitioning towards more efficient and reliable electrical infrastructure.
The North America market is projected to show noticeable growth, accounted for more than 6% market share of total market in 2018.
The statistic indicates that the North America market is expected to experience significant growth, contributing to more than 6% of the total market share in 2018. This demonstrates the importance and size of the North American market within the overall market landscape. The projected growth suggests that there is increasing demand or investment in this region, which could be driven by various factors such as economic conditions, consumer preferences, or industry trends. Companies and stakeholders operating in or targeting the North American market should be aware of this growth trajectory to make informed decisions and capitalize on potential opportunities within this region.
High Voltage Gas Insulated Switchgear was a leading segment and accounted for 75.3% of the total market in 2017.
In 2017, High Voltage Gas Insulated Switchgear (GIS) emerged as the dominant segment within the market, capturing a significant share of 75.3%. This indicates that the High Voltage GIS market held a substantial portion of the total market demand, implying a strong preference for this type of switchgear among consumers during that year. The high market share of this segment suggests that it was the primary choice for customers seeking reliable and efficient solutions for their electrical power transmission and distribution needs. The prominence of High Voltage GIS underscores its importance and effectiveness in meeting industry requirements and standards in 2017.
Medium voltage gas insulated switchgear is projected to grow at the highest CAGR during the period under consideration.
The statistic “Medium voltage gas insulated switchgear is projected to grow at the highest CAGR during the period under consideration” indicates that among the different types of switchgear systems being considered, gas insulated switchgear operating at medium voltage levels is expected to experience the highest Compound Annual Growth Rate (CAGR) over the specified time frame. This suggests that there is a rising demand for medium voltage gas insulated switchgear due to factors such as increased urbanization, industrialization, and focus on energy efficiency and reliability. The projection highlights a potential shift towards this particular type of technology in the switchgear industry due to its perceived advantages in terms of safety, compactness, and maintenance requirements.
The transmission utility segment constituted 41.7% of the global Gas Insulated Switchgear market share in 2018.
The statistic indicates that in 2018, the transmission utility segment accounted for 41.7% of the total market share in the global Gas Insulated Switchgear market. This suggests that a significant proportion of the market was dominated by transmission utilities, which are entities responsible for transporting and distributing electricity through transmission lines. The high market share of the transmission utility segment indicates their substantial presence and contribution within the Gas Insulated Switchgear market, highlighting their importance and influence in shaping the industry dynamics and overall market trends during that period.
In 2018, power distribution companies accounted for 31.8% of the global gas Insulated Switchgear market.
The statistic stating that power distribution companies represented 31.8% of the global gas Insulated Switchgear market in 2018 indicates the significant presence and impact of these companies within the industry. Gas Insulated Switchgear (GIS) are essential components in electricity transmission and distribution systems, providing reliable and efficient power management capabilities. The fact that nearly one-third of the market share is attributed to power distribution companies highlights their substantial investment and utilization of GIS technologies to facilitate the distribution of electricity across various regions. This statistic underscores the importance of power distribution companies in driving the demand and growth of the GIS market in 2018.
The market in India is expected to expand at a CAGR of 8.1% from 2019 – 2027.
This statistic indicates that the market in India is projected to grow at a Compound Annual Growth Rate (CAGR) of 8.1% from the year 2019 to 2027. The CAGR is a measure used to represent the annual growth rate of an investment over a specified period, smoothing out the fluctuations in data. In this context, a CAGR of 8.1% suggests a steady and consistent growth trajectory for the Indian market over the specified period, indicating potential opportunities for businesses looking to invest or operate in the Indian market. The forecasted expansion reflects positive expectations for economic growth, market demand, and overall business prospects in India during the specified timeframe.
China’s market share of gas-insulated switchgear was 45.9% in 2019.
The statistic “China’s market share of gas-insulated switchgear was 45.9% in 2019” indicates that China held a significant portion of the global market for gas-insulated switchgear, a type of high-voltage electrical equipment used in power distribution systems. This figure suggests that China’s production, consumption, or export of gas-insulated switchgear accounted for almost half of the total market in 2019. A high market share could signify China’s strong presence and competitiveness in the switchgear industry, potentially influencing pricing, innovation, and industry trends on a global scale. It may also reflect China’s growing importance in the energy sector and its role as a major player in the global electrical equipment market.
The power generation segment of gas-insulated switchgear market captured over 26% revenue share in 2019.
The statistic indicates that the power generation segment within the gas-insulated switchgear market was responsible for generating more than a quarter (26%) of the total revenue in 2019. This suggests that the power generation sector significantly contributed to the overall market performance during that year, highlighting its importance and influence within the gas-insulated switchgear industry. The substantial revenue share captured by the power generation segment signifies a strong market presence and demand for gas-insulated switchgear solutions specifically tailored for power generation applications. This information is valuable for market analysts and industry stakeholders as it offers insights into the specific sector driving the market’s revenue and growth in 2019.
By Voltage, the 66kV segment accounted for 15.6% of the market share in 2019.
The statistic states that in 2019, the 66kV segment accounted for 15.6% of the total market share in terms of voltage distribution. This means that out of all the various voltage segments in the market, products or services related to 66kV accounted for nearly one-sixth of the overall market activity. This information is important for stakeholders in the industry as it provides insight into the market dynamics and preferences among customers. It also suggests that the 66kV segment is significant and competitive within the industry, highlighting opportunities for further analysis and strategic decision-making.
The Europe Gas Insulated Switchgear market will observe promising growth in the next decade, as predicted by market analysts, is stated to hold a considerable portion of the global Gas Insulated Switchgear industry size by 2027.
The statement indicates that analysts forecast a prosperous growth trajectory for the Europe Gas Insulated Switchgear market over the next ten years, expecting it to significantly expand its market share within the global Gas Insulated Switchgear industry by the year 2027. This suggests that the European region is anticipated to experience robust demand and adoption of gas-insulated switchgear technologies, outpacing the growth rates of other regions. This projection likely stems from factors such as increasing investments in grid infrastructure, regulatory initiatives favoring sustainable energy solutions, and the growing emphasis on reliable and efficient electricity distribution systems. If these trends persist, Europe could emerge as a key player in the global gas insulated switchgear market in the coming years.
In 2019, the Japan market held the largest share for gas insulated switchgear in the Asia Pacific.
The statistic indicates that in 2019, the Japan market had the highest market share for gas insulated switchgear in the Asia Pacific region. This suggests that Japan had the largest proportion of sales or installations of gas insulated switchgear compared to other countries in the Asia Pacific region during that year. The dominance of the Japan market in this specific product category may be influenced by factors such as the country’s technological advancements, energy infrastructure needs, regulatory environment, and market demand for reliable and efficient electrical distribution systems. This statistic provides insight into the competitive landscape of the gas insulated switchgear market in the Asia Pacific region, highlighting Japan’s leading position in the industry.
The German gas-insulated switchgear market, which is a key constituent of the European market, was valued at USD 1.64 billion in 2019.
The statistic indicates that the German gas-insulated switchgear market plays a vital role within the broader European market, with a total value of USD 1.64 billion in 2019. Gas-insulated switchgear refers to high-voltage equipment used in electrical systems to control, protect, and isolate electrical equipment. The value of the market reflects the significant demand for this technology in Germany, showcasing the country’s emphasis on reliable and efficient energy infrastructure. This statistic suggests that the German market for gas-insulated switchgear is substantial and is likely to continue to be a key player in driving advancements and investments in the European electrical industry.
As per forecast, by 2026, the U.S. gas-insulated switchgear market will exhibit a growth rate of more than 7%.
The statistic indicates that the U.S. gas-insulated switchgear market is expected to experience significant growth by 2026, with a forecasted growth rate of over 7%. This implies that the demand for gas-insulated switchgear in the U.S. is projected to increase at a robust pace over the next few years. Factors driving this growth could include technological advancements in the industry, infrastructure development projects, and increasing focus on energy efficiency and grid reliability. A growth rate of more than 7% suggests a favorable outlook for the gas-insulated switchgear market in the U.S., highlighting potential opportunities for companies operating in this sector to expand their market presence and capitalize on the growing demand.
It is anticipated that the U.K. will witness a demand for gas-insulated switchgear exceeding 800 units by 2025.
The statistic suggests that there is a projected increase in demand for gas-insulated switchgear in the U.K., with an expectation that the number of units needed will surpass 800 by the year 2025. Gas-insulated switchgear plays a crucial role in the electrical power industry, as it helps to control, protect, and isolate electrical equipment. This anticipated surge in demand could be indicative of various factors such as infrastructure development, increased energy consumption, or a shift towards more reliable and efficient power distribution systems. Meeting this demand will likely require manufacturers and suppliers to ramp up production and ensure that the necessary infrastructure is in place to support this level of deployment.
In 2019, the transmission and distribution applications collectively accounted for over 80% of the global gas insulated switchgear market.
The statistic indicates that in 2019, the transmission and distribution applications were the dominant sectors driving the global gas insulated switchgear market, collectively accounting for more than 80% of the market share. Gas insulated switchgear is a type of equipment used to control and protect electrical grids in various applications such as power transmission and distribution. The significant market share of transmission and distribution applications suggests a high demand for gas insulated switchgear in these sectors, likely driven by the increasing need for reliable and efficient electricity transmission and distribution infrastructure globally. This statistic highlights the importance of these applications in driving the growth and development of the gas insulated switchgear market in 2019.
The Latin America gas insulated switchgear market is projected to surpass an annual installation of 8 million units by 2025.
The statistic suggests that the Latin America gas insulated switchgear market is expected to experience significant growth, with an annual installation rate forecasted to reach over 8 million units by the year 2025. This projection indicates a strong demand for gas insulated switchgear within the region, likely driven by factors such as increasing urbanization, infrastructure development, and the need for reliable and efficient electrical distribution systems. The market’s promising growth trajectory underscores opportunities for industry players to capitalize on this trend and cater to the evolving needs of the Latin American market.
The Middle East & Africa are also expected to drive the gas insulated switchgear market size and occupy nearly 7% of the global market.
The statistic indicates that the Middle East & Africa region is projected to play a significant role in driving the growth of the gas insulated switchgear market. Despite representing a relatively small portion (7%) of the global market, this region is expected to have a notable impact on the overall market size. This suggests that there is a growing demand for gas insulated switchgear in the Middle East & Africa, possibly due to factors such as increasing investments in infrastructure development, expanding industrial activities, and a push towards modernizing the power sector. As a result, companies operating in the gas insulated switchgear market may need to pay attention to this region as a key driver of market growth and potentially tailor their strategies to cater to the specific needs and opportunities present in the Middle East & Africa market.
Conclusion
The statistics and trends presented in the Gas Insulated Switchgear Industry highlight its growth potential and increasing demand. With advancements in technology and a focus on sustainability, the industry is poised for continued expansion in the coming years. It is important for stakeholders to stay informed and adapt to these changing dynamics to capitalize on the opportunities presented in this evolving sector.
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