Growing At A CAGR Of Over 7%, Gas Insulated Switchgear Market Is Projected To Reach USD 28.12 Billion By 2027 | TechSci Research
Global gas insulated switchgear market is projected to reach USD 28.12 Billion by 2027, growing at a CAGR of over 7% owing to the rising need of renewable power generation. Moreover, the growing investments in updating transmission & distribution infrastructure coupled with the increasing government initiatives for improving the electricity access will drive the market during the forecast period. Global gas insulated switchgear market is segmented based on voltage, type, installation, end user and region. Based on the end-user, the power distribution segment is projected to lead the market for the next five years, due to the increasing demand of power globally and surging demand-supply shortfall. Regionally, North America leads the gas insulated switchgear market and the trend is likely to continue until 2027, due to upgradation of power grids with new and advanced variants and strict regulations imposed by the government in the United States and Canada. However, Asia-Pacific is e...