QYResearch Prediction that The Europe gas insulated switchgear market will grow at a CAGR of 1.71% from 2016 to 2022

QYResearch Prediction that The Europe gas insulated switchgear market will grow at a CAGR of 1.71% from 2016 to 2022, to reach a market size of USD 1.72 Billion by 2022

Author: Chen Yang

Company: QYResearch

The Europe gas insulated switchgear market is projected to grow at a CAGR of 1.71% from 2016 to 2022, to reach a market size of USD 1.72 Billion by 2022. This growth is attributed to efficiency and reliability of gas insulated switchgear, with less space constraints and low maintenance.

The segments gas insulated switchgear market on the basis of major end-users, which include Industry Applications, power Transmission, integration to The Grid. Industry Applications is the fastest growing end-user segment for gas insulated switchgear market. infrastructure and transportation activities are increasing, which demands more electricity for operations and maintenance. Many technological trends are changing at locations, such as airports, sea ports, or traction substations, which are growing concerns for the end-user. End-users are focused on using efficient equipment, as well as less power consuming and environment-friendly devices, such as frequency converters, gas insulated switchgear.

Among the two major types of gas insulated switchgear, the former held the largest market share in 2015. High voltage gas insulated switchgear are efficient to transmit electricity at high voltage, extra high voltage, and ultra-high voltage level. In many cases, the renewable energy generator is directly connected to the national grid, which generates electricity of high-voltage or ultra-high voltage level. At such instances, due to its less space consumption, high voltage gas insulated switchgear are widely used in many developed and populated nations, which have space constraints.

Compact design of the switchgear, higher efficiency as compared to conventional switchgear, solid insulated switchgear and air insulated switchgear, high serving life, and low maintenance is expected to drive the growth of the gas insulated switchgear market. High cost of equipment as compared to air insulated switchgear affects the revenue of established players.

Some of the leading players in the gas insulated switchgear market include ABB Ltd. (Switzerland), Schneider Electric (France), Siemens AG (Germany), General Electric (U.S.), ALSTOM and Mitsubishi Electric Corporation (Japan) among others. Contracts & agreements was the most commonly used strategy by top players in the market, constituting more than half of the total developments share. It was followed by new product launches, expansions & investments, joint ventures & collaborations, and mergers & acquisitions.

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Analyst: chenyang@qyresearch.com