Market Size of Europe Gas Insulated Switchgear Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Market Size (2024) | USD 4.19 Billion |
Market Size (2029) | USD 6.05 Billion |
CAGR (2024 - 2029) | 7.62 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Europe Gas Insulated Switchgear Market Analysis
The Europe Gas Insulated Switchgear Market size is estimated at USD 4.19 billion in 2024, and is expected to reach USD 6.05 billion by 2029, growing at a CAGR of 7.62% during the forecast period (2024-2029).
- Over the medium term, increasing investments in transmission and distribution infrastructure are expected to drive the demand for gas-insulated switchgear during the forecast period.
- On the other hand, SF6 gas used in insulating switchgear is a potent greenhouse gas with a global warming potential that may restrain the market.
- Nevertheless. plans to integrate renewable energy with the national grids are expected to create a significant amount of opportunity for the gas-insulated switchgear market players in the near future.