Energy and Power Gas Insulated Switchgear Market

Gas Insulated Switchgear Market by Analysis, Drivers, Strategies, Segmentation, Application and Forecast 2018- 2023 The report "Gas Insulated Switchgear Market by Type, Voltage (medium, high, extra high, ultra-high), Installation, End-User (Transmission Utilities, Distribution Utilities, Generation Utilities, Transportation, Industry & OEMs) and Region - Global Forecast to 2023", The gas insulated switchgear market is expected to grow from an estimated USD 18.48 Billion in 2018 to USD 28.09 Billion by 2023, registering a CAGR of 8.73% during the forecast period. This growth is primarily due to the growth in renewable power generation, increasing investments in the transmission & distribution infrastructure, the rise in energy demand, limitations of space availability in densely populated urban areas, and government initiatives towards improving electricity access. Browse 105 Tables and 38 Figures spread through 174 Pages and in-depth TOC on "Gas Insulated Switchgear Market by Type, Voltage (medium, high, extra high, ultra -high), Installation, End-User (Transmission Utilities, Distribution Utilities, Generation Utilities, Transportation, Industry & OEMs) and Region - Global Forecast to 2023" https://www.marketsandmarkets.com/Market-Reports/gas-insulated-switchgear-market- 234770702.html Early buyers will receive 10% customization on reports. On the basis of end user, the power transmission utility segment is expected to hold the largest share of the market The power transmission utility dominated the gas insulated switchgear market in 2017 and is projected to grow at the second highest CAGR during the forecast period. Power transmission utilities is primarily driven by the addition of transmission lines which leads to the addition of high voltage substations, where gas insulated switchgear plays a vital role in grid protection, and efficient flow of power, as well as protection and relaying of the transmission circuit. High voltage transmission, extra high voltage transmission, and ultra-high voltage transmission lie under the jurisdiction of the power transmission utilities. These utilities are responsible for the transmission grid expansion, refurbishment as well as procurement of high voltage equipment. As per IEA statistics, approximately USD 3,180 billion will be invested globally between 2014 and 2035 on the net addition of 3.2 million kilometers of transmission lines. Additional USD 3,007 billion will be invested during the same period on the refurbishment of old transmission infrastructure.