The global gas insulated switchgear market size is expected to reach USD 44,896.0 million by 2032, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Gas Insulated Switchgear (GIS) is a high-voltage substation equipment used in electrical power systems. It is designed to control, protect, and isolate electrical equipment in a sealed environment using insulating gas, typically sulfur hexafluoride (SF6). GIS consists of several interconnected components such as circuit breakers, disconnectors, current transformers, voltage transformers, and busbars, all housed in metal-enclosed modules filled with SF6 gas.
The primary purpose of GIS is to efficiently transmit and distribute electrical power at high voltage levels while ensuring the safety and reliability of the power grid. It offers numerous advantages over traditional air-insulated switchgear (AIS). GIS systems are highly compact, requiring significantly less space than AIS, making them suitable for installation in urban areas and locations with limited space availability. The sealed enclosure of GIS prevents contact between electrical components and the external environment, minimizing the risk of electrical faults, accidents, and fire hazards.
The increasing energy demand across industrial, commercial, and residential sectors, coupled with the expansion of energy infrastructure, is anticipated to drive the growing demand for gas-insulated switchgear (GIS). The need to meet the rising energy requirements of various sectors necessitates the efficient transmission and distribution of electricity, which can be achieved by deploying GIS. As a result, GIS is expected to play a crucial role in facilitating the reliable and effective delivery of power and supporting the growth and development of energy systems worldwide.
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The market growth is propelled by rapid urbanization and the increasing adoption of Internet of Things (IoT) devices for home and smart building automation, which consume significant amounts of energy. The need to monitor and optimize energy usage for automation drives the demand for energy management solutions and contributes to market expansion. Additionally, the market is bolstered by the growing emphasis on optimizing energy consumption by adopting renewable energy resources. Installing solar panels and other renewable energy systems further supports the market's growth by enabling more sustainable and efficient energy utilization.
The COVID-19 pandemic adversely affected market growth due to raw material shortages, delayed production of gas-insulated components, and disrupted supply chains. Furthermore, global lockdown measures halted numerous industrial and commercial projects, further impeding market growth.
Its cost-effectiveness and high reliability drive the adoption of GIS by various end-use industries. However, the market growth is hindered by the high equipment costs associated with GIS and the environmental impact of Sulphur hexafluoride emissions. Government regulations imposing stringent environmental and safety standards act as a restraint on the market's expansion.
Gas Insulated Switchgear Market Report Highlights
Polaris Market Research has segmented gas insulated switchgear market report based on installations, configurations, end-use, insulation, voltage ratings, and region:
Gas Insulated Switchgear, Installations Outlook (Revenue - USD Million, 2019-2032)
Gas Insulated Switchgear, Configurations Outlook (Revenue - USD Million, 2019-2032)
Gas Insulated Switchgear, End-Use Outlook (Revenue - USD Million, 2019-2032)
Gas Insulated Switchgear, Insulation Outlook (Revenue - USD Million, 2019-2032)
Gas Insulated Switchgear, Voltage Ratings Outlook (Revenue - USD Million, 2019-2032)
Gas Insulated Switchgear, Regional Outlook (Revenue - USD Million, 2019-2032)
Report Attributes |
Details |
Market size value in 2023 |
USD 24,940.07 million |
Revenue forecast in 2032 |
USD 44,896.0 million |
CAGR |
6.7% from 2023 - 2032 |
Base year |
2022 |
Historical data |
2019 - 2021 |
Forecast period |
2023 - 2032 |
Quantitative units |
Revenue in USD million/billion and CAGR from 2023 to 2032 |
Segments covered |
By Installations, By Configurations, By End-Use, By Insulation, By Voltage Ratings, By Region |
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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 |
For Specific Research Requirements |