Market Size of Asia Pacific Gas Insulated Switchgear Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Gas Insulated Switchgear Market Analysis
The Asia Pacific gas-insulated switchgear market is expected to register a CAGR of over 6% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, the increasing investments in transmission & distribution infrastructure are expected to drive the market's growth.
- On the other hand, high equipment costs compared to air-insulated switchgear and stringent environmental and safety regulations related to GIS are expected to hamper the growth of Asia Pacific gas-insulated switchgear during the forecast period.
- Nevertheless, expanding or replacing old switchgear at substations in developed regions will likely create lucrative growth opportunities for the Asia Pacific gas-insulated switchgear market.
- China dominates the market and will likely witness the highest CAGR during the forecast period. This growth is attributed to increasing investments and supportive government policies.
