Market Leaders - Gas Insulated Switchgear Market
The global market for gas insulated switchgear is projected to grow from an estimated USD 23.8 billion in 2023 to USD 31.6 billion by 2028, demonstrating a CAGR of 5.8% during this five-year period. Gas insulated switchgear finds applications across various voltage ratings, serving purposes in medium, high, and extra high voltage scenarios. This technology involves the encapsulation of high voltage components within a metal enclosure. A significant advantage of using gas insulated switchgear is its space-efficient design and ease of maintenance, making it a preferred choice. These switchgears are compact in size, enabling the consolidation of all components within a tightly sealed metal enclosure, even in limited space.
Various end users require different voltage ratings for their specific applications. In the gas insulated switchgear market, a handful of major companies possess a strong regional presence and hold a commanding position. Key players in the gas insulated switchgear market encompass ABB (Switzerland), General Electric (US), Siemens (Germany), Schneider Electric (France), and Eaton (Ireland).
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Prominent companies like ABB (Switzerland), General Electric (US), Siemens (Germany), Schneider Electric (France), and Eaton (Ireland) have employed various growth strategies to enhance their standing in the gas insulated switchgear market. These strategies include product launches, partnerships, sales contracts, agreements, acquisitions, joint ventures, expansions, investments, and contracts. The objective for these leading firms in the gas insulated switchgear market is to not only increase their market share but also to extend their geographical reach.
Schneider Electric is a leading company specializing in energy management and automation solutions, and it is at the forefront of the digital transformation industry. The company operates through two main segments: Energy Management and Industrial Automation. Within the Energy Management segment, Schneider Electric offers gas insulated switchgear. This segment harnesses the capabilities of low voltage, medium voltage, and secure power solutions, all sharing a common goal of efficiently and reliably managing energy with similar economic characteristics. Schneider Electric has a strong presence in power equipment offerings and conducts its business through primary divisions, which include medium voltage (infrastructure), low voltage (building), secure power (IT), and industrial automation (industry). The low voltage segment provides a range of products tailored for residential and commercial buildings, industrial settings, infrastructures, and data centers. These products encompass power monitoring devices, power meters, and circuit breakers. The product portfolio within the medium voltage (infrastructure) segment features switchgear and their monitoring systems, power monitoring and control software, transformers, remote control systems, and medium voltage/low voltage substations. Schneider Electric places a significant focus on the gas insulated switchgear market by continually launching new products and expanding its offerings. The company has introduced several cutting-edge products, such as RM AirSeT and SM AirSeT, which incorporate next-generation technologies to maintain a prominent position in the gas insulated switchgears market.
ABB is a leading technology company known for its expertise in electrification products, power grids, industrial automation, and robotics. The company serves a broad range of industries, including utilities, transport, and infrastructure. ABB's business operations are organized into four key segments: Electrification Products, Robotics & Discrete Automation, Process Automation, and Motion. Within its Electrification Products segment, ABB offers gas-insulated switchgear, in addition to a comprehensive range of services, products, and interconnected solutions spanning the entire electricity value chain, from substation infrastructure to global consumption. The company's product portfolio within this segment also encompasses circuit breakers, switchgear, sensing devices, solar power solutions, and electric vehicle (EV) charging infrastructure. The Electrification Products segment made a significant contribution to ABB's revenue in 2022. ABB's global presence is extensive, serving more than 100 countries worldwide and maintaining over 300 manufacturing facilities across the globe. ABB is committed to staying at the forefront of industry trends, including the adoption of IoT (Internet of Things) and AI (Artificial Intelligence). The company has established a strategic partnership with Samsung Electronics to develop innovative technologies geared toward energy savings, effective energy management, and the intelligent integration of the Internet of Things (IoT).
Related Reports:
Gas Insulated Switchgear Market by Installation (Indoor, Outdoor), Insulation Type (SF6, SF6 free), Voltage Rating, Configuration (Hybrid, Isolated Phase, Integrated three phase, Compact GIS), End-User and Region - Global Forecast to 2028
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