MARKET OVERVIEW
With the rising upgradation in the power distribution division owing to the growing operation of smart grid and smart metering technology is demanding the gas insulated power equipment. The mounting alteration of transmission and distribution (T&D) network for reducing the transmission losses by implementing smart grid technology is the major factors strengthening the growth of gas insulated power equipment market.
MARKET SCOPE
The "Global Gas Insulated Power Equipment Market Analysis to 2028" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of gas insulated power equipment market with detailed market segmentation by product type, voltage type, application, and geography. The global gas insulated power equipment market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Gas Insulated Power Equipment market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- The global Gas Insulated Power Equipment market is segmented on the product type, voltage type, and application.
- Based on product type, the market is segmented into gas-insulated switchgear (GIS), and gas-insulated transmission lines (GIL).
- Similarly, on the basis of applications the market is segmented into utilities, industrial, power generation, infrastructure, and others.
MARKET DYNAMICS
Drivers
- Several Countries Explore Possibility of Building New Gas insulated power equipment Systems to Cater to Demand.
- Increasing oil & gas production activities along with the growing demand for crude oil in several end-use sectors are expected to drive the market over the forecast period.
Restraints
- High cost may hamper the market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The gas insulated power equipment oil market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the gas insulated power equipment oil market in these regions.
IMPACT OF COVID-19 ON GAS INSULATED POWER EQUIPMENT MARKET
The ongoing COVID-19 pandemic is expected to have a moderate impact on the global gas insulated power equipment market. As onshore tanks and storage alternatives in several major nations, including the U.S. and India are nearly full, market players are increasingly eyeing opportunities in these regions to cater to the demand for new gas insulated power equipment alternatives. Traders and refiners are increasingly exploring new alternatives such as floating storage to fulfil the growing demand for gas insulated power equipment alternatives. As the lockdown restrictions around the world continue to ease out, the supply chain across the gas insulated power equipment market is showing signs of recovery.
MARKET PLAYERS
The report covers key developments in the gas insulated power equipment oil market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from gas insulated power equipment oilmarket market are anticipated to lucrative growth opportunities in the future with the rising demand for gas insulated power equipment market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Gas insulated power equipment market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ABB Ltd.
- Crompton Greaves
- General Electric Company
- Hyosung Power & Industrial Systems PG
- HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD.
- Larsen & Toubro Limited
- Mitsubishi Electric Corporation
- Schneider Electric SE
- Siemens AG
- Toshiba International Corporation.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.