The global gas insulated switchgear market size is expected to reach USD 38.50 billion by 2030, 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 Insulation (SF6, SF6 Free); By Voltage Ratings; By Configuration; By End-Use; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The growing demand for gas insulated switchgear is due to the rising electricity demand and increasing investments in transmission and distribution infrastructure. Furthermore, it has a wide application in industrial complexes, underground substations, and power transmissions, accelerating market growth.
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The growing demand for gas insulated switchgear (GIS) is due to its high flexibility and reliability, reducing its size and requiring less installation space. In addition, it has a significant application on offshore platforms, an extension of city buildings, and various industrial plants. Moreover, this switchgear is highly sensitive and monitors pollution efficiently, driving the market growth.
The COVID-19 pandemic negatively impacted the demand for GIS as many commercial, residential, and industrial projects were standstill owing to the global lockdown. Moreover, lack of skilled labor and raw materials required for manufacturing the components resulted in delayed production and hampered the market.
Gas Insulated Switchgear Market Report Highlights
- The growing demand for outdoor installations is due to the increasing demand for electricity consumption which led to the development and upgradation of the energy grid.
- The above 220kV voltage rating accounted for the highest revenue share in 2021 and is expected to continue its dominance owing to rising investment in green and renewable energy sources. In addition, the demand for power transmission over the long range is expected to boost segment growth.
- Hybrid GIS is expected to lead the market growth owing to its effective installation time, environmentally friendly nature, and deployment under less space.
- Asia Pacific is expected to grow over the forecast period because of increasing energy consumption, government emphasis on energy efficiency, and the upgradation of electric infrastructure across China, Japan, and India.
- Major players operating in the industry include ABB, Alstom, Bharat Heavy Electricals Limited, CG Power, Eaton Corporation, Fuji Electric, General Electric Company, Hitachi, Hyosung, Hyundai Electric & Energy Systems Co., Ltd., Larsen & Turbo.
Polaris Market Research has segmented the gas insulated switchgear market report based on installations, insulation, voltage ratings, configurations, end-use, and region:
Gas Insulated Switchgear, Installations Outlook (Revenue – USD Billion, 2018 – 2030)
Gas Insulated Switchgear, Insulations Outlook (Revenue – USD Billion, 2018 – 2030)
- SF6 Free
Gas Insulated Switchgear, Voltage Ratings Outlook (Revenue – USD Billion, 2018 – 2030)
- Up To 36 KV
- 37 To 73 KV
- 74 To 220 KV
- Above 220 KV
Gas Insulated Switchgear, Configurations Outlook (Revenue – USD Billion, 2018 – 2030)
- Isolated Phase
- Integrated Three Phases
- Compact GIS
Gas Insulated Switchgear, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- Power Transmission Utilities
- Power Distribution Utilities
- Power Generation Utilities
- Railways & Metros
- Industries & OEM
Gas Insulated Switchgear, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa