Gas-insulated Switchgear Market

Market Leaders - Gas-insulated Switchgear Market

The global gas-insulated switchgear market is projected to grow from USD 16.9 billion in 2020 to USD 26.5 billion by 2025, at a CAGR of 9.5%. The growing investments in renewable energy and government initiatives to reduce carbon emissions along with the expansion of electrical grids due to the growing industrialization and urbanization are some of the major factors driving the growth of the gas-insulated switchgear market. However, growing competition from the unorganized sector, along with the high equipment cost of gas-insulated switchgears when compared with air-insulated switchgears, might be a restraint in the growth of the gas-insulated switchgear market. A factor that will prove to be an opportunity for the market is the development of environment-friendly gas-insulated switchgear, which is likely to cause a shift in the demand from SF6 gas-insulated switchgear to SF6-free gas-insulated switchgear.

Both global and regional players dominate the global gas-insulated switchgear market. The leading players in the global gas-insulated switchgear market include ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Eaton Corporation (Ireland), and General Electric (US). Hitachi (Japan), Mitsubishi Electric (Japan), Larsen & Toubro (India), Fuji Electric (Japan), Crompton Greaves (India) are some of the other key companies in the gas-insulated switchgear market.

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The major strategies adopted by the players include investments & expansions, contracts & agreements, mergers & acquisitions, and new product launches. Contracts & agreements were the most commonly utilized strategy from January 2017 to April 2020. New Product Launches was the second most followed strategy by the leading industry players to achieve growth in the gas-insulated switchgear market.

ABB is a technology leader in electrification products, power grids, industrial automation, and robotics for industries such as utilities, transport, and infrastructure. The company operates its business through 4 segments, namely Electrification Products, Robotics and Discrete Automation, Industrial Automation, and Motion. It provides gas-insulated switchgears under its Electrification Products business segment. Under the same segment, ABB also offers services, products, and connected solutions across the electricity value chain, from substation to global consumption. Some of the other products offered by the company under the Electrification Products segment are circuit breakers, switchgears, sensing devices, solar power solutions, and EV charging infrastructure. The Electrification Products segment accounted for a 44.1% share of the company’s revenue in 2019. ABB has a strong global presence, with corporate research centers in 7 countries, namely China, Germany, India, Poland, Sweden, Switzerland, and the US. It operates in more than 100 countries and has more than 300 manufacturing plants located in these countries. The company has been adopting both organic and inorganic strategies to sustain its position in the gas-insulated switchgear market. For instance, in January 2018, it established a manufacturing center in India to strengthen its position is the Asia Pacific market.

Siemens is a major technology company with core business activities in the field of electrification, automation, and digitalization. The company operates its business through 8 business divisions, which include Gas and Power, Digital Industries, Smart Infrastructure, Siemens Healthineers, Siemens Gamesa Renewable Energy, Mobility, Portfolio Companies, and Financial Services. The company offers switchgears under its Gas and Power segment. This segment provides fully integrated products, services, and solutions across the energy value chain of oil & gas production, transmission, and power generation. Some of the other products under the segment include gas turbines, generators, steam turbines, and integrated power plant solutions. Siemens operates in Europe, North America, the Middle East, and Asia Pacific, in more than 100 countries across the world and has a strong network of regional offices, warehouses, R&D facilities, and sales offices. It has factory locations in the US (Sacramento, Louisville, Indiana, New Castle, Pittsburgh, Portland, and Georgia), Germany, and China, among many other locations. Siemens has adopted the organic strategy of new product launches to enhance its product portfolio. For instance, in March 2020, Siemens launched the eco-friendly medium-voltage switchgear 8DJH 12, which is expected to create demand due to growing environmental concerns.

Related Reports:

Gas-insulated Switchgear Market by Voltage Rating, Insulation Type, Installation (Indoor, Outdoor), End User (Transmission Utility, Distribution Utility, Generation Utility, Railways & Metros, Industry & OEM), and Region - Global Forecast to 2025

Mr. Aashish Mehra
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