Energy and Power Gas Insulated Switchgear Market | Page 2

The medium voltage gas insulated switchgear is expected to be the fastest-growing
segment of the market
Medium voltage gas insulated switchgear is expected to grow at the highest CAGR from 2018 to
2023. The market is primarily driven due to the rapid improvement in the power d istribution
sector through the implementation of smart grid and smart metering technology. This equipment
is mainly used by the core sector, power generation, infrastructure, transportation, and
distribution system industries. The medium voltage gas insulated switchgear segment is sub-
divided into primary distribution and secondary distribution.
Asia Pacific: A leading market for gas insulated switchgear
In this report, the gas insulated switchgear market has been analyzed with respect to five regions,
namely, North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Asia
Pacific is expected to account for the largest market share of the global gas insulated switchgear
market in 2018. It is the most populated region in the world and consequently witnesses a high
demand for electricity. Countries such as China, Japan, and India are investing in their grid
expansion projects to increase distribution grid reliability. China accounted for the largest share
of the gas insulated switchgear market in Asia Pacific in 2016 and has the highest installed
generation and distribution capacity. The country, which is an export-oriented economy, has
witnessed exponential growth in the demand for electricity in the past couple of decades, fueled
by industrialization and infrastructural developments. Almost all the countries in the region are
augmenting their generation capacities. India, China, and Indonesia are investing heavily in their
hydroelectric power projects. Japan, China, and India are also emphasizing on nuclear and solar
power generation to meet their increasing energy demand. This has led to rise in investments in
the transmission & distribution sector by connecting renewable energy generation to the grid
and are expected to drive the growth of the gas insulated switchgear market in Asia Pacific.
To enable an in-depth understanding of the competitive landscape, the report includes the
profiles of some of the top players in the gas insulated switchgear market. These players include
ABB (Switzerland), Siemens (Germany), Hitachi (Japan), Toshiba (Japan), and Nissin Electric
(Japan). The leading players are trying to make inroads in the markets in the developed
economies and are adopting various strategies to