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Gas Insulated Medium Voltage Switchgear Market Trends

Report ID: GMI7056
Published Date: Oct 2023
Report Format: PDF

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Gas Insulated Medium Voltage Switchgear Market Trends

The gas insulated medium voltage switchgear industry is witnessing notable trends. One prominent trend is the increasing focus on eco-friendly and environmentally sustainable switchgear solutions, driven by stringent regulations and the industry's commitment to reducing greenhouse gas emissions. Additionally, the adoption of digital technologies and smart grid concepts is on the rise, with gas-insulated MV switchgear incorporating advanced monitoring and control features for enhanced grid management. Modular and compact designs are gaining popularity, enabling easier installation and maintenance.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of gas insulated medium voltage switchgear was worth USD 6.8 billion in 2023 and is estimated to record over 8.6% CAGR from 2024 to 2032.

The circuit breakers segment is predicted to surpassed USD 3.3 billion in 2022 and is projected to reach USD 7.1 billion by 2032 as they are integral for ensuring the safety and reliability of electrical distribution systems.

Asia Pacific gas insulated medium voltage switchgear market is anticipated to record over 6.5% CAGR from 2023 to 2032, owing to the region's rapid industrialization and urbanization that are spurring substantial investments in power infrastructure and distribution networks.

ABB, Siemens, Schneider Electric, Eaton, HYOSUNG HEAVY INDUSTRIES, Toshiba Infrastructure Systems & Solutions Corporation, Ormazabal, CG Power & Industrial Solutions Ltd, NISSIN ELECTRIC Co.,Ltd., Xiamen Huadian Switchgear Co., Ltd., Lucy Group Ltd., HD Hyundai Electric Co., Ltd., Switchgear Company, Yueqing Liyond Electric Co., Ltd., Bulox Corporation, and CAHORS.