Gas Insulated Switchgear Market Is Projected To Grow At A 10.5% CAGR By 2018 : Radiant Insights,Inc

San Francisco, May 27, 2016 (GLOBE NEWSWIRE) -- Gas insulated switchgears (GIS) are a combination of electrical switches used to protect electrical equipment. These electrical equipments are safeguarded inside a metal chamber with SF6 insulation which possesses high dielectric properties.

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The gas insulated switchgear market is projected to grow at a 10.5% CAGR over the forecast period (2018-2023). The market has decided to launch smaller and efficient gas insulated switchgears owing to the alarming cost of raw materials. Factors which could contribute to the growth are space constraints and rising urbanization.

Products of the market entail medium voltage and high voltage gas insulated switchgears. The latter handles energy consumption above 72.5 kV, while the former handles rating below 72.5 kV. High voltage GISs occupy less space are used in developed nations or nations with space constraints. They can generate and transmit electricity at high, extra-high, and ultra-high levels.

End-use industries of the market are transmission and distribution, power generation, infrastructure & transportation, and manufacturing & processing.

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The market demand is high in Asia Pacific owing to the rise of manufacturing industries and booming industrial growth. Asia Pacific market is driven by electricity transmission and distribution companies. With energy generation industry booming, the Gulf Cooperation Council (GCC) in the Middle East is likely to witness a rapid growth rate.

Countries are delving in business practices which adhere to the environmental regulations in order to receive emissions. Companies located in these countries are investing in R&D to create GIS at substations which is reliable and has a longer lifespan.

Top manufacturers of the gas insulated switchgear market include ABB Ltd., Siemens AG, and Alstom SA. Other vendors are Schneider Electric, Toshiba International Corporation, and Mitsubishi Electric Corp. Market players are trying to gain market share by agreeing to contracts and collaborations. ABB Ltd. has introduced new GIS called AirPlus which emit gases at a lower rate than SF6.

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Key questions answered in this report:

What will the market size be in 2018 and what will be the growth rate?

What are the key market trends?

What is driving this market?

What are the challenges to market growth?

Who are the key vendors in this market space?

What are the market opportunities and threats faced by the key vendors?

What are the strengths and weaknesses of each of these key vendors?

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Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy.Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.

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Source: Radiant Insights