Market Size of South America Gas Insulated Switchgear Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Gas Insulated Switchgear Market Analysis
The South American gas insulated switchgear market is projected to register a CAGR of over 5% 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, increasing investments in transmission and distribution infrastructure is 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 significant opportunities for the gas-insulated switchgear market players in the near future.
- During the forecast period, Brazil is the fastest-growing country in the South American gas-insulated switchgear market.
