The report "Gas
Insulated Transformer Market by Type (Instrument Transformer, Others),
Voltage (Medium Voltage, High Voltage, Extra High Voltage), Installation
(Outdoor, Indoor), End-User (Utility, Industrial, Commercial), and Region -
Global Forecast to 2023", 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.
Browse 69 market data Tables and 43 Figures spread
through 138 Pages and in-depth TOC on "Gas
Insulated Transformer Market by - Global Forecast to 2023"
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Utility segment to hold largest share of gas insulated transformer
market during forecast period
The utility segment is expected to hold the largest share
of the gas insulated transformer market during the forecast period. Power
utilities are major suppliers of electricity to factories, commercial
establishments, and homes. The projected growth of the market for this segment
market during the forecast period is attributed to the growing demand for
reliable power supply and rise in urbanization that has led to increasing
investments in the power infrastructure. This is expected to lead to the
development of transmission and distribution infrastructure, which, in turn,
will increase the demand for gas insulated substations and installation of gas
insulated transformers.
Gas insulated transformer market for indoor installation to grow at
higher CAGR during forecast period
The 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.
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.
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To provide in-depth analysis of the competitive
landscape, the report includes the profiles of some of the key players in the
gas insulated transformer market, which include ABB (Switzerland), GE (US),
Mitsubishi Electric (Japan), Siemens (Germany), Toshiba (Japan), and Arteche
(Spain).
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Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
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