Pune, India, Aug. 18, 2022 (GLOBE NEWSWIRE) — The global gas insulated switchgear market value stood at USD 21.13 billion in 2018 and will rise at a CAGR of 7.2% during the forecast period. The global gas insulated switchgear market size is projected to reach USD 36.60 billion by 2026 on account of the increasing demand for energy worldwide. The market is driven by the increasing demand for efficient and reliable infrastructure. The market is also benefited by the increasing demand for green infrastructure. The market is segmented on the basis of application and geography. The application-wise segmentation is based on the type of infrastructure, such as power, gas, oil, and water. The geography-wise segmentation is based on the regions, such as North America, Europe, Asia Pacific, and Latin America.
Key Industry Developments of the Gas Insulated Switchgear Market include:
November 2018 – Bergenshalvoens Kommunale Kraftselskap (BKK Nett) awarded a contract to Siemens Energy Management for supplying the world’s first SF6-free GIS with vacuum and clean air interruption systems for a voltage level of up to 145 kV.
December 2019 – Italy’s transmission system operator (TSO) awarded a USD 100 million contract to ABB for supplying GIS and building _high-voltage substations in Obermooweiler, Baden-Wuerttemberg.