San Francisco, California, Nov 01, 2017: A new market study by TMR Research states that the global market for gas insulated switchgearshas been observing a remarkable rise in its valuation and is projected to continue witnessing high growth over the next few years. The study, titled “Gas Insulated Switchgear Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” providesan in-depth and unbiased evaluation of this market, considering its past and present performance. The market boosters, barriers, prominent trends, challenges, opportunities, and the growth potential in this market have also been assessed while conducting this research.
According to the research report, the global market for gas insulated switchgear is observing an exponential surge in its valuation, thanks to the increasingfocus on the technological advancements in this field. The significant rise in the deployment these switchgears in a number of industries is likely to push this market upward over the next few years. The rising demand for gas insulated switchgear for distribution and transmission is anticipated to surface as a lucrative opportunity for leading companies in this market across the world in the near future.
On the other hand, the high cost of gas insulated switchgears may create hindrances in the growth trajectory of this market in the years to come. Apart from this, the market will also be impacted from the hesitation among consumers regarding the adoption of gas insulated switchgears due to the harmful effect of the SF6 gas. However, the increasing demand for these switchgears in the Asia Pacific region, particularly in China, India, and Japan, on account of the rising concerns over reducing the level of UHV and EHV transmissions, is expected to help this market to overcome the challenges over the forthcoming years, reports research study.
The research report offers a detailed geographical assessment of the worldwide market for gas insulated switchgears in a bid to provide a clear understanding of this market to readers. The Middle East and Africa, North America, Asia Pacific, Latin America, and Europe have been considered as the main regional markets for gas insulated switchgears in this market study. Currently, Asia Pacific leads the global market and is anticipated to remain on the top spot over the next few years, thanks to the ongoing projects of UHV and EHV transmission deployments in various developing countries. Moreover, the increasing research activities in China, Japan, and India are also projected to contribute extensively towards the progress of the Asia Pacific gas insulated switchgear market over the next few years, states the report.
The report also offers a detailed competitive assessment of the global market for gas insulated switchgears by evaluating the profiles of the leading companies on the basis of their existing and upcoming projects. General Electric, XI’an XD Switchgear Electric Co. Ltd., Hyosung Corp., Fuji Electric Co. Ltd., Hyundai Heavy Industries Co., Chint Electric Co. Ltd., Siemens AG, Crompton Greaves Ltd., Schneider Electric, Hitachi Ltd., Nissin Electric Co. Ltd., Toshiba International Corp., ABB Ltd., Larsen & Toubro, and Mitsubishi Electric Corp. are some of the leading vendors of gas insulated switchgears across the world, reviewed in this research report.
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