Gas Insulated Switchgear Market has been valued at US$ 21.13 billion in the year 2021 and it is estimated to reach US$ 36.60 billion by the year 2027, with a CAGR of 7.2% from 2022 to 2027. Gas Insulated Switchgear is the name for a unit that houses these components and circuits in a single gas tank with a compact footprint. Grounding devices that prevent electrical shock and lightning arresters that prevent dielectric breakdowns from lightning strikes are also included to enhance safety; these are the main factors that have considerably increased the demand for Gas Insulated Switchgear in the market, thereby driving the huge growth of the Gas Insulated Switchgear market in the upcoming years

Market Drivers and Restraints:

The main factors that have considerably increased the demand for Gas Insulated Switchgear in the market is mainly due to the growing adoption of smart grids and smart metering technologies and rising global energy consumption are the primary drivers driving gas-insulated switchgear market growth. Furthermore, due to a variety of advantages such as safety, high dependability, minimal space requirements, cheap maintenance, and environmental compatibility, GIS is rapidly gaining market acceptance. Furthermore, a considerable increase in power consumption in emerging nations is a result of various electrification initiatives in assisting market expansion; these are the main factors that have considerably increased the demand for Gas Insulated Switchgear in the market, thereby driving the huge growth of the Gas Insulated Switchgear market in the upcoming years

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The report is segmented as:

Gas Insulated Switchgear Market is segmented on the basis of:

By Insulation (SF-6 and SF-6 Free),

By Installation (Indoor and Outdoor),

By End User (Power Transmission Utility, Power Distribution Utility, Power Generation Utility, Railways & Metros, Industries & OEM, and Commercial)

Geographical Segmentation:

Gas Insulated Switchgear Market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and the rest of the world. North America has the dominant share in the Gas Insulated Switchgear due to the rising power demand, government measures to promote energy efficiency are the main factors that have considerably increased the demand for Gas Insulated Switchgear in North America, followed by Europe, Asia Pacific, Latin America, and the Middle East & Africa will register a slower increase in the Gas Insulated Switchgear Market

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Impact of COVID-19 on the Market

Covid -19 pandemic has affected the growth of business of every sector and it also affected the growth of the Gas Insulated Switchgear market, and temporary lack of growth in export and import activities, which has impacted the rays of Gas Insulated Switchgear market growth. The covid-19 pandemic has impacted hugely on the sales revenue of Gas Insulated Switchgear market. Due to the government restrictions like lockdowns in many countries that have shut down commercial and industrial establishments and also stopped transportation these made huge losses for Gas Insulated Switchgear market. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of coronavirus.

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