The global gas insulated transformer market reached $2018.27 billion in 5

According to the Markets and Markets report, the global gas insulated transformer market will grow from $2.
75 billion in 2018 to $3.
45 billion in 2023, with a CAGR of 4.
61%
during the period.

The global gas insulated transformer market reached $2.
75 billion in 2018

Due to the absence of risk of oil spills and space constraints in densely populated urban areas, and government initiatives to increase electrification rates and investments in transmission and distribution will further drive the gas insulated transformer market growth
.

The utilities segment will account for the largest share
of the gas-insulated transformer market by 2023.
Electric utilities are the primary suppliers of electricity to factories, commercial establishments, and homes
.
The expected growth of the market segment is attributed to the growing demand for reliable power supply and accelerating urbanization, leading to increased
investment in power infrastructure.
This will lead to the development of transmission and distribution infrastructure, thereby increasing the demand
for gas-insulated substations and gas-insulated transformer installations.

The indoor installation market will grow
at a higher CAGR during the forecast period.
Gas-insulated transformers are non-flammable, non-explosive, and have a compact design, making them ideal for
urban underground and indoor substations.
Increasing power generation from renewable energy coupled with the need for reliable electricity and accelerating urbanization are supporting the growth
of the indoor installation market.

Instrumentation transformers will dominate the market during the forecast period, with the largest scale and highest
CAGR.
An instrument transformer is a motor that uses the electromagnetic properties of alternating current and ferromagnetic materials to produce different voltages and currents
than received.
They are mainly used for circuit measurement, protection and control
in substations and switchgear.
The growth of the instrumentation transformer market is attributed to the renovation of aging power infrastructure and significant investments in
smart grids and energy systems.

In the report, the gas insulated transformer market analyzes Asia Pacific, North America, Europe, and the rest of the
world.
The rest of the world includes regions such as South America, the Middle East, and Africa
.
Asia Pacific will account for the largest share of the global market in 2018, and this trend is expected to continue until 2023
.
Almost all countries in the region are increasing their power generation capacity
.
India, China, and Indonesia are investing heavily in renewable energy generation projects, thereby driving the growth
of the gas-insulated transformer market in Asia Pacific.

To provide an in-depth analysis of the competitive landscape, the report presents profiles of some of the major players in the gas insulated transformer market, including ABB (Switzerland), General Electric (USA), Mitsubishi Electric (Japan), Siemens (Germany), Toshiba (Japan), and Arteche (Spain).

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