Gas Insulated Switchgear Market 2022 By Top Trends & Growth Forecast To 2030
The rapid development of micro-grid networks will foster the gas insulated switchgear market trends, the report claims. With the implementation of strict emission norms and policies, alongside the large-scale deployment of renewables, energy infrastructure has expanded worldwide. These factors have resulted in the integration of sustainable grid networks to ensure grid supply security. The expansion of grid networks will, in turn, stimulate the installation of different types of gas-insulated switchgear.
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In terms of capacity, the report divides the industry into <38 kV, >38 kV to ≤72 kV, >72 kV to ≤150 kV, and >150 kV segments. The >72 kV to ≤150 kV segment depicted a CAGR of more than 5% in 2021. Product developers have been constantly emphasizing the incorporation of streamlined distribution and development platforms to suit critical product applications. The extension of reliable power distribution networks will facilitate the establishment of gas-insulated switchgear substations of up to >72 kV to ≤150 kV, the report claims.
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Based on voltage level, the market is segregated into high voltage and medium voltage. The medium voltage segment is further sub-segmented into primary distribution and secondary distribution. The secondary distribution segment is projected to depict over 7% CAGR through 2030. This is driven by the expansion of power infrastructure in suburban and urban areas, alongside the rising emphasis on operational reliability and grid safety. The integration of microgrid networks and the energy demand have increased substantially across commercial establishments, mainly from data and communication centers, contributing to segmental growth.
Robust demand for high-voltage DC networks in power generation applications to fuel industry growth
With regards to application, the report bifurcates the industry into power generation, transmission and distribution, infrastructure and transportation, manufacturing and processing, and others. The power generation segment will account for a major market share, given the strong demand for high-voltage direct current transmission networks across the industrial sector. According to the report, investment in sustainable energy networks has also been increasing. Additionally, the growing adoption of safe and efficient equipment in electric generation facilities to cater to power demand will add impetus to segmental expansion over the estimated timeline.
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