HOME Research Insight ABB (Switzerland) and Siemens (Germany) are the Major Players in the Gas Insulated Switchgear Market

ABB (Switzerland) and Siemens (Germany) are the Major Players in the Gas Insulated Switchgear Market

The global gas insulated switchgear market is projected to reach a market size of USD 28.09 Billion by 2023, growing at a CAGR of 8.73% during the forecast period. In 2018, the market in Asia Pacific is estimated to be the largest for gas insulated switchgear, followed by Europe. This trend is expected to continue till 2023. The growth of the gas insulated switchgear market is driven by the growth in renewable power generation, increasing investments in the transmission and distribution infrastructure, the rise in energy demand, limitations of space availability in densely populated urban areas, and government initiatives toward improving electricity access.

The gas insulated switchgear market is dominated by a few major players that have a wide regional presence and are established brand names. The leading players in the market include ABB (Switzerland), Siemens (Germany), Hitachi (Japan), Toshiba (Japan), and Nissin Electric (Japan).

The major strategies adopted by leading market players include contracts & agreements, new product developments, investments and expansions, mergers & acquisitions, partnerships, and joint ventures and collaborations. Contracts & agreements was the most commonly adopted strategy from January 2014 to December 2017. New product developments was the second most widely followed strategy during the same period. Two of the leading market players are highlighted in the section below.

ABB is one of the key players in the power and automation technology sector offering a wide range of products, services, and systems to various end-use industries such as utilities, infrastructure, and transportation. ABB offers gas insulated switchgear through its electrification products division, which accounted for 26.1% of the company’s total net sales in 2016. The electrification products division provides solutions across the entire electrical value chain from the substation to the point of consumption. It caters its products to the oil & gas, power industries, buildings, data centers, rail, wind and solar, food & beverage, and marine industries. As of 2016, this division had approximately 40,600 employees and generated revenue worth USD 9.3 billion. ABB has its presence in over 100 countries. Some of its subsidiaries in the gas insulated switchgear market include ABB High Voltage Switchgear (Beijing), ABB Xiamen Switchgear (Xiamen), and ABB Xinhui Low Voltage Switchgear (Xinhui). In December 2017, ABB was awarded a contract by the government of Ontario. The purpose of the contract is to supply a medium-voltage distribution and traction power system, including GIS and substations for the Eglinton Crosstown project, a new light rail transit line in Toronto, Canada. 

Siemens is a German industrial conglomerate. It conducts its operations through nine business segments, namely, power and gas, healthcare, energy management, digital factory, process industry and drives, mobility, building technologies, Siemens Gamesa renewable energy, and financial services. It offers gas insulated switchgear through its energy management business segment, which accounted for 14.4% of the total net sales in 2016. The energy management division offers a wide spectrum of products, systems, solutions, software, and services for transmitting and distributing power and for developing intelligent grid infrastructure. This segment provides products and services to various end-use industries such as power providers, network operators, industrial companies, infrastructure developers, and construction companies. Siemens has its presence in around 200 countries with 289 production and manufacturing plants across the globe. It has a global presence through a strong network of regional offices, warehouses, R&D facilities, and sales offices. In July 2017, Siemens was awarded a contract by the Ministry of Electricity and Water, Kuwait to supply power generation equipment, control system, and 26 bays of gas-insulated switchgear for the Sabiya Extension 3 combined cycle power plant in Kuwait.

Related Reports:

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

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