Global Gas Insulated Transformer Market Scenario:
Latest research report, The Gas Insulated Transformer Market is expected to grow from USD 2.75 Billion in 2018 to USD 3.45 Billion by 2023, at a CAGR of 4.61% between 2018 and 2023. The market is set to witness growth due to factors such as no risk of oil leakage and space constraints in densely populated urban areas. Also, government initiatives toward improving electrification rate and rising transmission & distribution investments are further expected to drive the gas insulated transformer market.
Top Key players profiled in the report include: ABB (Switzerland), GE (US), Mitsubishi Electric (Japan), Siemens (Germany), Toshiba (Japan), and Arteche (Spain) and many more…
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Asia Pacific: Key market for gas insulated transformer market during the forecast period.
In this report, the gas insulated transformer market has been analyzed with respect to four regions Asia Pacific, North America, Europe, and Rest of the World. Rest of the World includes regions such as South America, and the Middle East and Africa. Asia Pacific is expected to account for the largest share of the global gas insulated transformer market by 2018, and this trend is projected to continue till 2023. Almost all the countries in the region are augmenting their power generation capacities. India, China, and Indonesia are investing heavily in renewable electricity generation projects, thereby driving the growth of the gas insulated transformer market in Asia Pacific.
Scope of the report:
- By Voltage
- Medium Voltage (Up to 72.5 kV)
- High Voltage (72.5 kV to 220 kV)
- Extra High Voltage (Above 220 kV)
- By Type
- Instrument Transformers
- By Installation
- By End-User
- By Region
- Asia Pacific
- North America
- Rest of the World
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Gas insulated transformer market for indoor installation to grow at higher CAGR during forecast period
The global market for the indoor installation is expected to grow at the higher CAGR during the forecast period. Gas insulated transformers are non-flammable, non-explosive, and have compact design which makes them ideal preference for installations in underground and indoor substations in urban areas. The increase in renewable power generation, combined with the demand for reliable power sources, and the rise in urbanization support the growth of the market for indoor installation of gas insulated transformers.
Instrument transformers to hold largest share of gas insulated transformer market during forecast period.
The instrument transformers are expected to dominate the gas insulated transformer market with the largest size and the highest CAGR during the forecast period. Instrument transformers are electrical machines that use the electromagnetic properties of alternating currents and ferromagnetic materials to produce voltage and current at different levels from those received as input. They are mainly used for measuring, protecting, and controlling circuits in substations and switchyards. The growth of the market for instrument transformers is attributed to the refurbishment of aging power infrastructure and huge investments in smart grids and energy systems.
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Objectives of Study:
- To analyze and forecast the market for gas insulated transformer (GIT) in terms of value
- To provide detailed information on the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges
- To define, segment, and forecast the market by voltage, type, installation, and end-user
- To forecast the market size of segments with respect to the regions, namely, North America, Asia Pacific, Europe, and Rest of the World (RoW)
- To strategically analyze the market with respect to individual growth trends, future expansions, and contributions to the market
- To analyze market opportunities for stakeholders and details of a competitive landscape for the market leaders
- To analyze competitive developments, such as expansions, mergers & acquisitions, new product launches, and contracts & agreements (partnerships, collaborations, alliances and joint ventures) in the gas insulated transformer market
- To strategically profile key players and comprehensively analyze their market shares and core competencies