Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 1.49 Billion | USD 1.94 Billion | 3.1% | 2021 |
FrequentlyAsked Questions
The market is being driven by the substitution of SF6 to reduce the environmental effect. SF6 (Sulfur Hexafluoride) has been used as a switching medium and insulation for electrical switchgear in e-house for decades due to its unique features.
According to the Zion Market Research report, the global E-house market was worth about 1.49 (USD billion) in 2021 and is predicted to grow to around 1.94 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 3.1 percent.
North America is expected to have a sizable market share during the forecast period. The market is expected to increase substantially due to the rising number of industrial units in oil and gas, mining, and other industries, as well as the presence of major companies like ABB Ltd, Siemens AG, and others. Canada is one of the world's top oil and gas producers. Its oil and gas sector is vital to the economy of the country. Oil sands, which account for over 90 percent of the country's total oil reserves, remain the country's principal source of hydrocarbon production. According to the Canadian Association of Petroleum Producers (CAPP), oil output in Canada is predicted to exceed 5.5 billion barrels per day (bbl/d) in 2030, with oil sands accounting for 70.7 percent of total production.
Key players functioning in the market include Axis Solutions Pvt Ltd., ABB, Eaton, BMarko Structures Inc., Schneider Electric, General Electric, Siemens AG, Panel Built Incorporated, TECO Corporation, and Kasa Analgen.
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