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Gas Insulated Substation Market Outlook (2023 to 2033)

The global gas-insulated substation market is estimated to reach a valuation of US$ 14.6 billion in 2023. As per Future Market Insights (FMI) analysis, the gas-insulated substation market size is expected to surpass US$ 24.6 billion in the next decade. Between 2023 and 2033, the market has been forecasted to register a 5.4% CAGR.

The market is anticipated to be driven by the rising demand for compact, low-maintenance power systems over the forecast period. Gas-insulated substations are more dependable and efficient than air-insulated ones.

Rising per-hectare land values are expected to boost opportunities for expansion because gas-insulated substations require less space than their equivalents. These substations occupy 90% less space than typical power plants, which is an important component permitting industry expansion.

The development of renewable energy sources and investments in clean energy projects are now more important than ever. As a result, the market for gas-insulated substations is expected to benefit greatly from the significant growth of new renewable projects and increased power consumption in the future.

Most key companies develop, produce, install, and service a comprehensive range of cutting-edge Gas Insulated Substations (GIS) for utilities and businesses across the world. GIS systems from 60 to 800 kV are available, as well as hybrid, mobile, and digital GIS solutions, gas-insulated lines, and other secondary items to optimize switchgear and network performance, such as spring-operated mechanisms for AIS, GIS, and generator circuit breakers.

Their products have a long working life and provide clients with a high degree of performance and dependability to fulfill a wide range of operating requirements, thus creating ample growth opportunities for the market to expand. Key companies provide small, dependable Gas Insulated Switchgear (GIS) that can isolate 500 kV at a single location. They are attempting to structure and construct a new global supply chain and are growing their market-driven engineering system.

Furthermore, important companies say that their GIS can be utilized securely in tight areas and is used in places where space is restricted, such as extensions, city buildings, rooftops, offshore platforms, industrial plants, and hydropower plants. A market participant provides the 'GV3 series' gas-insulated switchgear, which features a sealed tank design that is suited for contaminated settings and requires less maintenance, thus fueling the growth of the market further.

The GV3 series switchboards are simple to install and completely expandable on-site, hence creating multiple opportunities among the end users.

Attributes Details
Gas Insulated Substation Market HCAGR (2018 to 2022) 10.1%
Gas Insulated Substation Market CAGR (2023 to 2033) 5.4%
Market Size for Gas-Insulated Substations (2023) US$ 14.6 billion
Market Size for Gas Insulated Substation (2033) US$ 24.6 billion

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Following Significant Aspects are Responsible for the Market's Growth

  • Increasing demand for clean energy is one of the key motivations for the power utilities industry and hence for the sector's gas-insulated substations. Renewable energy output increased by over 14% from 2166.5 TWh in 2017 to 2480.4 TWh in 2018. As a result of the increased demand for electricity, particularly clean energy, the power utilities sector is likely to develop, as is the market for gas-insulated substations in the power utilities sector.
  • Increased energy consumption in emerging countries due to changing lifestyles and rising per capita income is anticipated to boost market expansion. It is anticipated to grow in trend because it can be grown in a small area and because it uses sulfur hexafluoride gas to protect the environment. In contrast to air-insulated substations, which are more likely to pollute the environment, gas-insulated substations are more environmentally friendly.
  • Sulfur hexafluoride is a greenhouse gas. Hence its use in substations may have an effect on the market expansion. However, because of its benefits over competing products, its market is anticipated to expand more quickly.
  • The development of smart cities has promoted the installation of gas-insulated substations since they are small and efficient, thus driving the growth of the market. For example, GIFT, a proposed smart city in Gujarat, India, intends to install underground cables for power distribution via gas subsidiary stations, allowing the city to maximize power efficiency by sub-transmission within buildings and colonies.
  • In the upcoming years, it is anticipated that increased demand would be driven by concerns about safety, dependability, and substation security. Gas-insulated substations are projected to continue to dominate the market due to their longer lifespan and one-time investment requirement.
  • Leading manufacturers are emphasizing the expansion of their product line while utilizing omnichannel sales channels in a variety of regional markets. Companies are directly entering into contracts and proposal bidding with end users and governments to increase their revenue generation, which is supporting them.
  • Globally expanding industrialization has benefited the demand for gas-insulated substations. The need for power has grown as numerous manufacturing companies continue to flourish around the world.
  • Due to the rising need for electricity from the industrial sector, numerous businesses and government agencies from various regions have boosted their spending on the power-producing industry. Due to this, there is now a greater need for gas-insulated substations all over the world.

Comparative Analysis of Adjacent Markets

Gas Insulated Substation Market:

Attributes Gas Insulated Substation Market
CAGR (2023 to 2033) 5.4%
Market Value (2033) US$ 24.6 billion
Growth Factor Increased energy consumption in developing countries due to changing lifestyles and rising per capita income.
Opportunity Key manufacturers are pursuing product diversification and omnichannel sales channels in diverse regional markets.
Restraints Since sulfur hexafluoride is a greenhouse gas, using it in substations can stifle market expansion.

Digital Substations Market:

Attributes Digital Substations Market
CAGR (2023 to 2033) 7.3%
Market Value (2033) US$ 15.2 billion
Growth Factor Adoption is likely to be fueled by growing infrastructure and demand for renewable energy.
Opportunity Incorporating renewable energy sources, supported by favorable regulations such as feed-in tariffs, and net metering may provide market opportunities.
Restraints Regular maintenance, as well as the high initial cost of installing digital substations, may stymie market growth.

Mobile Substations Market:

Attributes Mobile Substations Market
CAGR (2023 to 2033) 7.2%
Market Value (2033) US$ 2,015 million
Growth Factor The ability to recover as quickly as possible from major weather events and natural disasters benefits local companies.
Opportunity With the increased prevalence of harsh weather conditions and catastrophic catastrophes, the demand for mobile substations is increasing.
Restraints The upkeep of a mobile substation is a significant problem that might stymie the market.
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High Installation Costs & Other Restraints and Market Opportunities

The high cost of gas-insulated substations in comparison to typical power stations is a key factor that is expected to stymie industry expansion. The intrinsic problem may cause significant harm, impeding market expansion even further.

On the contrary, factors such as the increased integration of gas-insulated substations in manufacturing units and processing centers, as well as massive expenditures in Research and Development efforts to lower production costs, are expected to fuel market expansion in the future years.

Region-Wise Overview

Country United States
CAGR (2023 to 2033) 5.2%
HCAGR (2017 to 2022) 9.7%
Country United Kingdom
CAGR (2023 to 2033) 4.5%
HCAGR (2017 to 2022) 8.8%
Country China
CAGR (2023 to 2033) 4.8%
HCAGR (2017 to 2022) 9.4%
Country Japan
CAGR (2023 to 2033) 4%
HCAGR (2017 to 2022) 8.3%
Country South Korea
CAGR (2023 to 2033) 3.8%
HCAGR (2017 to 2022) 7.5%

Customized Designs offered by Key Companies in the USA as per the End Users

Attributes Details
US Market Size (2033) US$ 8.7 billion
US Market Absolute Dollar Growth (US$ million/billion) US$ 3.4 billion

Growing Number of Processing Industries, Information and Communication Hubs, and Telecommunications is Predicted to Lead to an Expansion in the Market in North America. North America currently holds the largest share of the gas-insulated substation market, particularly in the USA which holds a revenue share of 5.2%. The value of the gas-insulated substation market in the USA is estimated to reach a high of US$ 8.7 billion. This is attributed to an increase in the number of processing industries, information and communication centers, and telecommunications. Regional key companies are able to tailor their designs to satisfy the operational needs of their end users at a competitive price without losing stability or employee safety as world leaders in both medium and high-voltage SF6 Gas Insulated Substation (GIS) ranging from 24kV up to 800kV. Their GIS makes use of sulfur hexafluoride gas (SF6), which is six times heavier than air, provides improved insulating features that safeguard electrical systems, increase the usable life of crucial components, and save operational expenses. Key players provide safe, dependable gas-insulated switchgear technology that may be employed in a variety of applications when the benefits of gas-insulated switchgear surpass the benefits of traditional air-insulated switchgear. Furthermore, they are always improving their technology and dependability via continuous research and development. They also provide turn-key solutions, which include the provision of equipment, engineering, and full system integration. Over 5,000 Bays of Gas Insulated Substations in both local and international markets have been successfully installed by certain market players, offering a wide variety of products ranging from 25.8 kV to 362 kV. They provide a small top entrance design for minimal space requirements, as well as combinations of modular and adaptable designs to save costs effectively.

Key Organizations Generating Strategies to Minimize Excessive Greenhouse Gas Emissions

Attributes Details
United Kingdom Market Size (2033) US$ 1 billion
United Kingdom Market Absolute Dollar Growth (US$ million/billion) US$ 365.7 million

The United Kingdom produces notable market potential, with a high-paced revenue growth rate of 4.5% and an anticipated value of US$ 1 billion, throughout the projection period. This is owing to substantial expenditures in improving the total performance of electric power generation, transmission, and distribution in order to reduce losses. Certain organizations are taking steps to mitigate the excessive greenhouse gas emissions caused by the usage of SF6. For example, United Kingdom Power Networks, the United Kingdom's largest distribution network operator, is now exceeding its targets of reducing its carbon footprint by 2% yearly and limiting SF6 leakage rates to less than 0.2%. However, as time passes, new methods and techniques may be required to maintain this. Key manufacturers provide an all-in-one solution that comprises electrical bus bars, current and voltage transformers, surge arrestors, circuit breakers, and switches. However, the benefits of this technique are most seen in the overall design. For instance, greater dependability of coordinated components that perform as one system and decreased project footprint for better outcomes with landowners, town, and county approvals.

In China, Manufacturers Offer Various Module Combinations to Comply with Several Technological Specifications!

Attributes Details
China Market Size (2033) US$ 1.8 billion
China Market Absolute Dollar Growth (US$ million/billion) US$ 657.2 million

China holds a significant share of the gas-insulated substation market, which holds a revenue share of 4.8%. The value of the gas-insulated substation market in China is estimated to reach a high of US$ 1.8 billion. This is attributed to increased electricity usage, the replacement of old hydropower units, and the government's drive to improve grid infrastructure. Key manufacturers in China provide premium GIS that is made up of standard modules connected by flanged joints and can satisfy the requirement for substation optimization design by allowing for various module combinations. It saves space and complies with technological specifications. The domestic first high-power spring operating mechanism of the circuit breaker is compact, safe, and maintenance-free. Furthermore, it is highly dependable and meets the oil-free and gas-free operation mechanism requirements.

Japanese Circuit Breaker Manufacturers use Contact Bands -

Attributes Details
Japan Market Size (2033) US$ 1.5 billion
Japan Market Absolute Dollar Growth (US$ million/billion) US$ 468.9 million

With a revenue growth rate of 4% and an estimated value of US$ 1.5 billion throughout the forecast period, Japan is the most lucrative market for gas-insulated substations. Owing to the limited growth space of the country, Japan was the first to build gas-insulated substations. The country has a competitive advantage in a number of substation manufacturers, and it is projected to extend to other countries such as China and India.

With decades of experience, Japanese market players have effectively created a standard series of phase segregated type or three-phase encapsulated type GIS that achieved a quite compact and extremely dependable construction. They comprise small overall dimensions and a completely earthed enclosure. Furthermore, a modular design idea is used, and SF6 gas is equally pressurized throughout the switchgear.

Contact bands are often sold as part of a connection with an integrated contact band, rather than as a standalone device. However, exceptions can be allowed if end users are working with significant electrical power equipment that requires a large number of contact bands. Short-time current may be applied with a stable and strong current. It may be used on both the fixed and sliding parts of the plug. This product is used by several Japanese circuit breaker manufacturers.

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New Entrants are Catching Up with Key Players: Start-Up Economy

Start-up companies are incorporating advanced technologies to contribute to the expanding gas-insulated substation market size:

  • Gas Activated Systems - It offers IoTs-based monitoring solutions for the oil and gas sectors. It monitors and controls fugitive gas emissions at oil and gas exploration and production sites, refineries, storage, and transmission facilities using mesh communication networks with gas sensors, self-repairing long-range wireless, and a cloud platform. It includes three systems: a detection system that detects gases with high speed and accuracy using sensor technology, an activator system that detects explosive gases and shuts down the engine, and a gas prevention system that collects data from multiple sources to map a wide range of explosive and combustible gases in real-time and real space.

Top Companies Revamping the Gas Insulated Substation Market Space

The gas insulated substations market share is expected to expand as suppliers continue to improve production automation methods and unique manufacturing techniques in order to provide high-quality goods. Manufacturers also installed equipment to evaluate the reliability and performance of gas insulated substations under extreme temperatures and pressures.

Latest Developments:

  • In 2017, Siemens provides two Gas-Insulated High-Voltage Switchgear (GIS) for Tajikistan's Rogun hydropower facility. This approach would prevent short circuits and overloading during the generation and transfer of power.
  • In 2016, Verimatrix and Access Co. Ltd. expanded their collaboration to secure and improve IP service and conventional broadcast infrastructure convergence. Access Co. Ltd. is a Japanese firm that develops software for mobile and linked devices.
  • In 2016, GE and LSIS, a provider of electric power systems, automation, and Smart grid solutions, signed a Memorandum of Understanding (MoU) to collaborate on power, smart energy, and smart manufacturing solutions. Both businesses are intended to co-develop SF6 free power equipment for 400 kV Gas Insulated Busducts (GIB) and 170 kV Gas Insulated Substations as part of the MoU. (GIS).
  • In April 2019, J. Murphy & Sons Ltd. of London has been awarded a contract by National Grid to design and build a new energy substation in Barking, London. The deal is worth more than US$ 31 million and involves the design and construction of a gas-insulated switchgear substation as well as new cables to link to the national power grid.

KEY MARKET PLAYERS IN THE GAS INSULATED SUBSTATION MARKET

  • General Electric Company
  • Hitachi Ltd.
  • ABB Ltd
  • Larsen & Toubro Limited
  • Siemens AG
  • Mitsubishi Electric Corporation
  • Eaton Corporation PLC
  • Toshiba Corp
  • CG Power and Industrial Solutions Ltd
  • Schneider Electric SE
  • Bharat Heavy Electricals Limited
  • Elsewedy Electric Co S.A.E.
  • Powell Industries Inc.
  • Hyosung Corp

Key Segments Profiled in the Gas Insulated Substation Market Survey

By Basis of Installation:

  • Indoor
  • Outdoor

By Voltage Rating:

  • Medium Voltage (Up to 72.5 kV)
  • High Voltage (72.5 kV - 220 kV)
  • Ultra-High Voltage (220 kV - 765 kV)

By End User:

  • Power Transmission & Distribution
  • Manufacturing & Processing

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Middle East and Africa (MEA)
  • Europe

Frequently Asked Questions

Which is the Top Trend in the Brewing Boiler Market?

The growing popularity of high-quality beer is the current market trend.

Where is the High Demand for Gas Insulated Substations?

North America region generated the maximum revenue of the global demand in 2023.

Which Country Is Likely to Witness High Growth?

The United States is estimated to expand at a maximum share through 2033.

Which is the Preferred segment Based on Installation Type?

The indoor segment contributes a maximum share of the global market.

Who are the Leading Manufacturers in the Gas Insulated Substation Market?

Hitachi Ltd and ABB Ltd are the leading manufacturers in the global market.

Table of Content

1. Executive Summary | Gas Insulated Substation Market

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

        3.5.1. Supply Side Participants and their Roles

            3.5.1.1. Producers

            3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)

            3.5.1.3. Wholesalers and Distributors

        3.5.2. Value Added and Value Created at Node in the Supply Chain

        3.5.3. List of Raw Material Suppliers

        3.5.4. List of Existing and Potential Buyers

    3.6. Investment Feasibility Matrix

    3.7. Value Chain Analysis

        3.7.1. Profit Margin Analysis

        3.7.2. Wholesalers and Distributors

        3.7.3. Retailers

    3.8. PESTLE and Porter’s Analysis

    3.9. Regulatory Landscape

        3.9.1. By Key Regions

        3.9.2. By Key Countries

    3.10. Regional Parent Market Outlook

    3.11. Production and Consumption Statistics

    3.12. Import and Export Statistics

4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ million) & Volume (Units) Analysis, 2017 to 2022

    4.2. Current and Future Market Size Value (US$ million) & Volume (Units) Projections, 2023 to 2033

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Basis of Installation

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ million) & Volume (Units) Analysis By Basis of Installation, 2017 to 2022

    5.3. Current and Future Market Size Value (US$ million) & Volume (Units) Analysis and Forecast By Basis of Installation, 2023 to 2033

        5.3.1. Indoor

        5.3.2. Outdoor

    5.4. Y-o-Y Growth Trend Analysis By Basis of Installation, 2017 to 2022

    5.5. Absolute $ Opportunity Analysis By Basis of Installation, 2023 to 2033

6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Voltage Rating

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ million) & Volume (Units) Analysis By Voltage Rating, 2017 to 2022

    6.3. Current and Future Market Size Value (US$ million) & Volume (Units) Analysis and Forecast By Voltage Rating, 2023 to 2033

        6.3.1. Medium Voltage Up to 72.5 kV

        6.3.2. High Voltage 72.5 kV - 220 kV

        6.3.3. Ultra High Voltage 220 kV - 765 kV

    6.4. Y-o-Y Growth Trend Analysis By Voltage Rating, 2017 to 2022

    6.5. Absolute $ Opportunity Analysis By Voltage Rating, 2023 to 2033

7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End User

    7.1. Introduction / Key Findings

    7.2. Historical Market Size Value (US$ million) & Volume (Units) Analysis By End User, 2017 to 2022

    7.3. Current and Future Market Size Value (US$ million) & Volume (Units) Analysis and Forecast By End User, 2023 to 2033

        7.3.1. Power Transmission and Distribution

        7.3.2. Manufacturing and Processing

    7.4. Y-o-Y Growth Trend Analysis By End User, 2017 to 2022

    7.5. Absolute $ Opportunity Analysis By End User, 2023 to 2033

8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region

    8.1. Introduction

    8.2. Historical Market Size Value (US$ million) & Volume (Units) Analysis By Region, 2017 to 2022

    8.3. Current Market Size Value (US$ million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033

        8.3.1. North America

        8.3.2. Latin America

        8.3.3. Europe

        8.3.4. East Asia

        8.3.5. South Asia Pacific

        8.3.6. Middle East and Africa (MEA)

    8.4. Market Attractiveness Analysis By Region

9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country

    9.1. Historical Market Size Value (US$ million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2022

    9.2. Market Size Value (US$ million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033

        9.2.1. By Country

            9.2.1.1. USA

            9.2.1.2. Canada

        9.2.2. By Basis of Installation

        9.2.3. By Voltage Rating

        9.2.4. By End User

    9.3. Market Attractiveness Analysis

        9.3.1. By Country

        9.3.2. By Basis of Installation

        9.3.3. By Voltage Rating

        9.3.4. By End User

    9.4. Key Takeaways

10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country

    10.1. Historical Market Size Value (US$ million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2022

    10.2. Market Size Value (US$ million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033

        10.2.1. By Country

            10.2.1.1. Brazil

            10.2.1.2. Mexico

            10.2.1.3. Argentina

            10.2.1.4. Rest of Latin America

        10.2.2. By Basis of Installation

        10.2.3. By Voltage Rating

        10.2.4. By End User

    10.3. Market Attractiveness Analysis

        10.3.1. By Country

        10.3.2. By Basis of Installation

        10.3.3. By Voltage Rating

        10.3.4. By End User

    10.4. Key Takeaways

11. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country

    11.1. Historical Market Size Value (US$ million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2022

    11.2. Market Size Value (US$ million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033

        11.2.1. By Country

            11.2.1.1. Germany

            11.2.1.2. United Kingdom

            11.2.1.3. France

            11.2.1.4. Italy

            11.2.1.5. Spain

            11.2.1.6. BENELUX

            11.2.1.7. NORDIC

            11.2.1.8. Russia

            11.2.1.9. Poland

            11.2.1.10. Rest of Europe

        11.2.2. By Basis of Installation

        11.2.3. By Voltage Rating

        11.2.4. By End User

    11.3. Market Attractiveness Analysis

        11.3.1. By Country

        11.3.2. By Basis of Installation

        11.3.3. By Voltage Rating

        11.3.4. By End User

    11.4. Key Takeaways

12. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country

    12.1. Historical Market Size Value (US$ million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2022

    12.2. Market Size Value (US$ million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033

        12.2.1. By Country

            12.2.1.1. China

            12.2.1.2. Japan

            12.2.1.3. South Korea

        12.2.2. By Basis of Installation

        12.2.3. By Voltage Rating

        12.2.4. By End User

    12.3. Market Attractiveness Analysis

        12.3.1. By Country

        12.3.2. By Basis of Installation

        12.3.3. By Voltage Rating

        12.3.4. By End User

    12.4. Key Takeaways

13. South Asia Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country

    13.1. Historical Market Size Value (US$ million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2022

    13.2. Market Size Value (US$ million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033

        13.2.1. By Country

            13.2.1.1. Australia

            13.2.1.2. New Zealand

            13.2.1.3. India

            13.2.1.4. Thailand

            13.2.1.5. Indonesia

            13.2.1.6. Malaysia

            13.2.1.7. Rest of South Asia Pacific

        13.2.2. By Basis of Installation

        13.2.3. By Voltage Rating

        13.2.4. By End User

    13.3. Market Attractiveness Analysis

        13.3.1. By Country

        13.3.2. By Basis of Installation

        13.3.3. By Voltage Rating

        13.3.4. By End User

    13.4. Key Takeaways

14. MEA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country

    14.1. Historical Market Size Value (US$ million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2022

    14.2. Market Size Value (US$ million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033

        14.2.1. By Country

            14.2.1.1. GCC Countries

            14.2.1.2. South Africa

            14.2.1.3. Rest of MEA

        14.2.2. By Basis of Installation

        14.2.3. By Voltage Rating

        14.2.4. By End User

    14.3. Market Attractiveness Analysis

        14.3.1. By Country

        14.3.2. By Basis of Installation

        14.3.3. By Voltage Rating

        14.3.4. By End User

    14.4. Key Takeaways

15. Key Countries Market Analysis

    15.1. USA

        15.1.1. Pricing Analysis

        15.1.2. Market Share Analysis, 2022

            15.1.2.1. By Basis of Installation

            15.1.2.2. By Voltage Rating

            15.1.2.3. By End User

    15.2. Canada

        15.2.1. Pricing Analysis

        15.2.2. Market Share Analysis, 2022

            15.2.2.1. By Basis of Installation

            15.2.2.2. By Voltage Rating

            15.2.2.3. By End User

    15.3. Brazil

        15.3.1. Pricing Analysis

        15.3.2. Market Share Analysis, 2022

            15.3.2.1. By Basis of Installation

            15.3.2.2. By Voltage Rating

            15.3.2.3. By End User

    15.4. Mexico

        15.4.1. Pricing Analysis

        15.4.2. Market Share Analysis, 2022

            15.4.2.1. By Basis of Installation

            15.4.2.2. By Voltage Rating

            15.4.2.3. By End User

    15.5. Argentina 

        15.5.1. Pricing Analysis

        15.5.2. Market Share Analysis, 2022

            15.5.2.1. By Basis of Installation

            15.5.2.2. By Voltage Rating

            15.5.2.3. By End User

    15.6. Germany

        15.6.1. Pricing Analysis

        15.6.2. Market Share Analysis, 2022

            15.6.2.1. By Basis of Installation

            15.6.2.2. By Voltage Rating

            15.6.2.3. By End User

    15.7. United Kingdom

        15.7.1. Pricing Analysis

        15.7.2. Market Share Analysis, 2022

            15.7.2.1. By Basis of Installation

            15.7.2.2. By Voltage Rating

            15.7.2.3. By End User

    15.8. France

        15.8.1. Pricing Analysis

        15.8.2. Market Share Analysis, 2022

            15.8.2.1. By Basis of Installation

            15.8.2.2. By Voltage Rating

            15.8.2.3. By End User

    15.9. Italy

        15.9.1. Pricing Analysis

        15.9.2. Market Share Analysis, 2022

            15.9.2.1. By Basis of Installation

            15.9.2.2. By Voltage Rating

            15.9.2.3. By End User

    15.10. Spain

        15.10.1. Pricing Analysis

        15.10.2. Market Share Analysis, 2022

            15.10.2.1. By Basis of Installation

            15.10.2.2. By Voltage Rating

            15.10.2.3. By End User

    15.11. BENELUX

        15.11.1. Pricing Analysis

        15.11.2. Market Share Analysis, 2022

            15.11.2.1. By Basis of Installation

            15.11.2.2. By Voltage Rating

            15.11.2.3. By End User

    15.12. NORDIC

        15.12.1. Pricing Analysis

        15.12.2. Market Share Analysis, 2022

            15.12.2.1. By Basis of Installation

            15.12.2.2. By Voltage Rating

            15.12.2.3. By End User

    15.13. Russia

        15.13.1. Pricing Analysis

        15.13.2. Market Share Analysis, 2022

            15.13.2.1. By Basis of Installation

            15.13.2.2. By Voltage Rating

            15.13.2.3. By End User

    15.14. Poland

        15.14.1. Pricing Analysis

        15.14.2. Market Share Analysis, 2022

            15.14.2.1. By Basis of Installation

            15.14.2.2. By Voltage Rating

            15.14.2.3. By End User

    15.15. China

        15.15.1. Pricing Analysis

        15.15.2. Market Share Analysis, 2022

            15.15.2.1. By Basis of Installation

            15.15.2.2. By Voltage Rating

            15.15.2.3. By End User

    15.16. Japan

        15.16.1. Pricing Analysis

        15.16.2. Market Share Analysis, 2022

            15.16.2.1. By Basis of Installation

            15.16.2.2. By Voltage Rating

            15.16.2.3. By End User

    15.17. South Korea 

        15.17.1. Pricing Analysis

        15.17.2. Market Share Analysis, 2022

            15.17.2.1. By Basis of Installation

            15.17.2.2. By Voltage Rating

            15.17.2.3. By End User

    15.18. Australia

        15.18.1. Pricing Analysis

        15.18.2. Market Share Analysis, 2022

            15.18.2.1. By Basis of Installation

            15.18.2.2. By Voltage Rating

            15.18.2.3. By End User

    15.19. New Zealand

        15.19.1. Pricing Analysis

        15.19.2. Market Share Analysis, 2022

            15.19.2.1. By Basis of Installation

            15.19.2.2. By Voltage Rating

            15.19.2.3. By End User

    15.20. India

        15.20.1. Pricing Analysis

        15.20.2. Market Share Analysis, 2022

            15.20.2.1. By Basis of Installation

            15.20.2.2. By Voltage Rating

            15.20.2.3. By End User

    15.21. Thailand

        15.21.1. Pricing Analysis

        15.21.2. Market Share Analysis, 2022

            15.21.2.1. By Basis of Installation

            15.21.2.2. By Voltage Rating

            15.21.2.3. By End User

    15.22. Indonesia

        15.22.1. Pricing Analysis

        15.22.2. Market Share Analysis, 2022

            15.22.2.1. By Basis of Installation

            15.22.2.2. By Voltage Rating

            15.22.2.3. By End User

    15.23. Malaysia

        15.23.1. Pricing Analysis

        15.23.2. Market Share Analysis, 2022

            15.23.2.1. By Basis of Installation

            15.23.2.2. By Voltage Rating

            15.23.2.3. By End User

    15.24. GCC Countries

        15.24.1. Pricing Analysis

        15.24.2. Market Share Analysis, 2022

            15.24.2.1. By Basis of Installation

            15.24.2.2. By Voltage Rating

            15.24.2.3. By End User

    15.25. South Africa

        15.25.1. Pricing Analysis

        15.25.2. Market Share Analysis, 2022

            15.25.2.1. By Basis of Installation

            15.25.2.2. By Voltage Rating

            15.25.2.3. By End User

16. Market Structure Analysis

    16.1. Competition Dashboard

    16.2. Competition Benchmarking

    16.3. Market Share Analysis of Top Players

        16.3.1. By Regional

        16.3.2. By Basis of Installation

        16.3.3. By Voltage Rating

        16.3.4. By End User

17. Competition Analysis

    17.1. Competition Deep Dive

        17.1.1. General Electric Company

            17.1.1.1. Overview

            17.1.1.2. Product Portfolio

            17.1.1.3. Profitability by Market Segments

            17.1.1.4. Sales Footprint

            17.1.1.5. Strategy Overview

                17.1.1.5.1. Marketing Strategy

                17.1.1.5.2. Product Strategy

                17.1.1.5.3. Channel Strategy

        17.1.2. Hitachi, Ltd.

            17.1.2.1. Overview

            17.1.2.2. Product Portfolio

            17.1.2.3. Profitability by Market Segments

            17.1.2.4. Sales Footprint

            17.1.2.5. Strategy Overview

                17.1.2.5.1. Marketing Strategy

                17.1.2.5.2. Product Strategy

                17.1.2.5.3. Channel Strategy

        17.1.3. ABB Ltd

            17.1.3.1. Overview

            17.1.3.2. Product Portfolio

            17.1.3.3. Profitability by Market Segments

            17.1.3.4. Sales Footprint

            17.1.3.5. Strategy Overview

                17.1.3.5.1. Marketing Strategy

                17.1.3.5.2. Product Strategy

                17.1.3.5.3. Channel Strategy

        17.1.4. Larsen & Toubro Limited

            17.1.4.1. Overview

            17.1.4.2. Product Portfolio

            17.1.4.3. Profitability by Market Segments

            17.1.4.4. Sales Footprint

            17.1.4.5. Strategy Overview

                17.1.4.5.1. Marketing Strategy

                17.1.4.5.2. Product Strategy

                17.1.4.5.3. Channel Strategy

        17.1.5. Siemens AG

            17.1.5.1. Overview

            17.1.5.2. Product Portfolio

            17.1.5.3. Profitability by Market Segments

            17.1.5.4. Sales Footprint

            17.1.5.5. Strategy Overview

                17.1.5.5.1. Marketing Strategy

                17.1.5.5.2. Product Strategy

                17.1.5.5.3. Channel Strategy

        17.1.6. Mitsubishi Electric Corporation

            17.1.6.1. Overview

            17.1.6.2. Product Portfolio

            17.1.6.3. Profitability by Market Segments

            17.1.6.4. Sales Footprint

            17.1.6.5. Strategy Overview

                17.1.6.5.1. Marketing Strategy

                17.1.6.5.2. Product Strategy

                17.1.6.5.3. Channel Strategy

        17.1.7. Eaton Corporation PLC

            17.1.7.1. Overview

            17.1.7.2. Product Portfolio

            17.1.7.3. Profitability by Market Segments

            17.1.7.4. Sales Footprint

            17.1.7.5. Strategy Overview

                17.1.7.5.1. Marketing Strategy

                17.1.7.5.2. Product Strategy

                17.1.7.5.3. Channel Strategy

        17.1.8. Toshiba Corp

            17.1.8.1. Overview

            17.1.8.2. Product Portfolio

            17.1.8.3. Profitability by Market Segments

            17.1.8.4. Sales Footprint

            17.1.8.5. Strategy Overview

                17.1.8.5.1. Marketing Strategy

                17.1.8.5.2. Product Strategy

                17.1.8.5.3. Channel Strategy

        17.1.9. CG Power and Industrial Solutions Ltd

            17.1.9.1. Overview

            17.1.9.2. Product Portfolio

            17.1.9.3. Profitability by Market Segments

            17.1.9.4. Sales Footprint

            17.1.9.5. Strategy Overview

                17.1.9.5.1. Marketing Strategy

                17.1.9.5.2. Product Strategy

                17.1.9.5.3. Channel Strategy

        17.1.10. Schneider Electric SE

            17.1.10.1. Overview

            17.1.10.2. Product Portfolio

            17.1.10.3. Profitability by Market Segments

            17.1.10.4. Sales Footprint

            17.1.10.5. Strategy Overview

                17.1.10.5.1. Marketing Strategy

                17.1.10.5.2. Product Strategy

                17.1.10.5.3. Channel Strategy

        17.1.11. Bharat Heavy Electricals Limited

            17.1.11.1. Overview

            17.1.11.2. Product Portfolio

            17.1.11.3. Profitability by Market Segments

            17.1.11.4. Sales Footprint

            17.1.11.5. Strategy Overview

                17.1.11.5.1. Marketing Strategy

                17.1.11.5.2. Product Strategy

                17.1.11.5.3. Channel Strategy

        17.1.12. Elsewedy Electric Co S.A.E.

            17.1.12.1. Overview

            17.1.12.2. Product Portfolio

            17.1.12.3. Profitability by Market Segments

            17.1.12.4. Sales Footprint

            17.1.12.5. Strategy Overview

                17.1.12.5.1. Marketing Strategy

                17.1.12.5.2. Product Strategy

                17.1.12.5.3. Channel Strategy

        17.1.13. Powell Industries, Inc.

            17.1.13.1. Overview

            17.1.13.2. Product Portfolio

            17.1.13.3. Profitability by Market Segments

            17.1.13.4. Sales Footprint

            17.1.13.5. Strategy Overview

                17.1.13.5.1. Marketing Strategy

                17.1.13.5.2. Product Strategy

                17.1.13.5.3. Channel Strategy

        17.1.14. Hyosung Corp

            17.1.14.1. Overview

            17.1.14.2. Product Portfolio

            17.1.14.3. Profitability by Market Segments

            17.1.14.4. Sales Footprint

            17.1.14.5. Strategy Overview

                17.1.14.5.1. Marketing Strategy

                17.1.14.5.2. Product Strategy

                17.1.14.5.3. Channel Strategy

18. Assumptions & Acronyms Used

19. Research Methodology

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