Gas Insulated Switchgear Market Share, Size, Trends, Industry Analysis Report, By Installations (Indoor, Outdoor); By Configurations; By End-Use; By Insulation; By Voltage Ratings; By Region, And Segment Forecasts, 2023-2032
- Published Date:Jul-2023
- Pages: 112
- Format: PDF
- Report ID: PM2726
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global gas insulated switchgear market was valued at USD 23,395.93 million in 2022 and is expected to grow at a CAGR of 6.7% during the forecast period. Gas-insulated switchgear (GIS) is an advanced high-voltage substation with a sealed environment utilizing sulfur hexafluoride gas (SF6) as the insulating medium. All essential electrical switching components within a GIS system, including circuit breakers, isolators, earth switches, and busbars, are enclosed within modules filled with SF6 gas. Compared to traditional substations, GIS requires only 10% of the space, making it a compact solution. It is virtually maintenance-free, occupies minimal space, and is particularly suitable for installation in areas with limited space availability. GIS provides enhanced fault protection, resulting in fewer power outages for end-users. Its operation offers superior reliability and feasibility, delivering a reliable and uninterrupted power supply.
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The increasing awareness and adoption of renewable power, along with supportive government initiatives, are key drivers behind the growth of renewable power generation. Governments worldwide have implemented policies and incentives to encourage the development and use of renewable energy sources. According to the International Energy Outlook 2019 report, renewable sources accounted for 28% of global power generation, with wind, solar, and hydropower being the major contributors. The Energy Information Administration (EIA) further projects that renewables will make up nearly half (49%) of the global electricity output by 2050. As renewable power generation expands, the demand for related technologies and solutions will rise accordingly in the projected period.
The global economic slowdown caused by the COVID-19 outbreak resulted in a series of lockdowns, due to decreased industrial and commercial activities and a downturn in the gas-insulated switchgear (GIS) market. However, the market is expected to grow in the forecast period due to various factors. The power industry is transforming, focusing on upgrading transmission and distribution networks, which will drive the demand for GIS. Additionally, there is an increasing adoption of renewable energy-based power plants, further contributing to the growth of the GIS market. Despite these positive factors, certain challenges may restrain market growth. The high cost of GIS equipment compared to air-insulated switchgear is a limiting factor. Moreover, stringent environmental and safety regulations associated with gas insulated switchgear market may constrain the growth during the forecast period.
Industry Dynamics
Growth Drivers
The rising adoption of renewable energy sources
The investment in transmission and distribution networks of the gas insulated switchgear market is driven by several growth factors. The rising global energy demand, driven by population growth and industrial development, is a significant driver for investment in transmission and distribution networks. GIS systems are crucial in efficiently transmitting and distributing electricity, ensuring reliable power supply across various sectors.
The growing adoption of renewable energy sources such as wind and solar power necessitates the development of robust transmission and distribution infrastructure. GIS systems facilitate the integration of renewable energy into the grid, enabling efficient power flow management, voltage control, and grid stability. As governments worldwide aim to increase their renewable energy capacity, investments in GIS infrastructure are expected to rise.
Governments worldwide actively promote energy efficiency and sustainability as part of their broader climate change and environmental protection strategies. Smart grid infrastructure, including advanced GIS systems, enables more efficient transmission and distribution of electricity, reducing energy losses and improving overall grid performance. Government initiatives incentivize utilities and stakeholders to invest in innovative smart grid solutions to achieve energy efficiency and sustainability targets.
Report Segmentation
The market is primarily segmented based on installations, configurations, end-use, insulation, voltage ratings, and region.
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By Installations |
By Configurations |
By End-Use |
By Insulation |
By Voltage Ratings |
By Region |
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The outdoor segment held the highest market share in 2022
In 2022, the outdoor segment held the highest market share due to its wide range of outdoor applications, including power transmission, the establishment of large-scale power units, and the information of ultra-high voltage power to various industries. Installing gas-insulated switchgear (GIS) in substations and switchyards, which offer ample space, is a significant factor driving the market's growth. Moreover, the growing electricity demand has resulted in increased investments in transmission and distribution networks, further supporting the expansion of the outdoor segment within the GIS market.
Hybrid configuration is expected to witness fastest growth in 2022
In 2022. the hybrid configuration is expected to witness fastest growth due to its compact size and low maintenance requirements. Hybrid switchgear combines the features of air-insulated switchgear (AIS) and gas-insulated switchgear (GIS), offering a simplified layout and high reliability, expected to drive the market's expansion. Additionally, this compact switchgear solution finds applications in the renovation and extension of AIS-based switchgear substations, further contributing to market growth.
Asia Pacific is expected to dominate market over the forecast period
Asia Pacific is expected to dominate the market over the forecast period, primarily because it is the most considerable region for GIS. This region is anticipated to witness rapid growth during the projection period, driven by the significant industrialization happening in countries such as China, Japan, South Korea, and India. Furthermore, the rising investment in distribution and transmission projects across growing nations in the Asia Pacific also bolsters the market's growth. Moreover, the market is expected to experience growth as there is a shift from conventional insulated switchgear to cleaner power-generation switchgear aimed at enhancing overall efficiency.
The North American region holds a significant scope in the gas-insulated switchgear (GIS) market. North America is witnessing ongoing infrastructure development, including constructing new power plants, expanding transmission and distribution networks, and upgrading aging infrastructure. It drives the demand for advanced GIS solutions to ensure efficient and reliable power transmission and distribution. The region is actively promoting the integration of renewable energy sources into the power grid. GIS technology enables the seamless integration of renewable energy generation, such as solar and wind, by providing robust and efficient transmission and distribution capabilities. It creates a favorable environment for the adoption of GIS in North America.
Competitive Insight
The major global market players include ABB, CG Power, Fuji Electric, Eaton Corporation, General Electric Company, Hyosung, Hitachi, Hyundai Electric & Energy Systems Co., Ltd., Alstom, Larsen & Turbo, Bharat Heavy Electricals Limited, Meidensha, Nisin Electric, Ormazabal, Mitsubishi Electric, Powell Industries, Siemens, Schneider Electric, Toshiba Energy Systems & Solutions Corporation.
Recent Developments
- In April 2022, ABB and Samsung Electronics joined forces to collaborate on developing energy-saving and management technologies. This partnership aims to offer consumers access to advanced home automation technology, enhancing the management of devices. Additionally, it enables the implementation of electrical load-shifting strategies, allowing for better control and optimization of energy consumption.
- In June 2021, Toshiba Energy Systems & Solutions Corporation and Meidensha Corporation entered into a collaborative effort to develop eco-friendly gas-insulated switchgear (GIS) operating at either 72kV or 84kV. This partnership aims to meet the increasing demand for environmentally friendly products by eliminating Sulphur hexafluoride (SF6), a potent greenhouse gas.
Gas Insulated Switchgear Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 24,940.07 million |
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Revenue forecast in 2032 |
USD 44,896.0 million |
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CAGR |
6.7% from 2023 - 2032 |
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Base year |
2022 |
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Historical data |
2019 - 2021 |
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Forecast period |
2023 - 2032 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2023 to 2032 |
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Segments covered |
By Installations, By Configurations, By End-Use, By Insulation, By Voltage Ratings, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
ABB, CG Power, Fuji Electric, Eaton Corporation, General Electric Company, Hyosung, Hitachi, Hyundai Electric & Energy Systems Co., Ltd., Alstom, Larsen & Turbo, Bharat Heavy Electricals Limited, Meidensha, Nisin Electric, Ormazabal, Mitsubishi Electric, Powell Industries, Siemens, Schneider Electric, Toshiba Energy Systems & Solutions Corporation |
FAQ's
The global gas insulated switchgear market size is expected to reach USD 44,896.0 million by 2032.
Top market players in the Gas Insulated Switchgear Market are ABB, CG Power, Fuji Electric, Eaton Corporation, General Electric Company, Hyosung, Hitachi, Hyundai Electric & Energy Systems Co., Ltd.
Asia Pacific contribute notably towards the global Gas Insulated Switchgear Market.
The global gas insulated switchgear market expected to grow at a CAGR of 6.7% during the forecast period.
The Gas Insulated Switchgear Market report covering key are installations, configurations, end-use, insulation, voltage ratings, and region.
