Gas-insulated switchgear market is anticipated to grow at a CAGR of 6.1% during the forecast period. Gas-insulated switchgear (GIS) is a compact metal encapsulated switchgear consisting of high-voltage components such as circuit breakers and disconnectors, which can be safely operated in confined spaces. GIS is used where space is limited, for example, extensions, in city buildings, on roofs, offshore platforms, industrial plants, and hydropower plants. The increasing clean energy demand is the major factor in the market expansion. Gas-insulated switchgear combines vacuum switching technology with clean air insulation. It operates with zero harmful greenhouse gases of any kind, zero toxic decomposition products, and zero safety requirements during handling and maintenance. This is the major reason, industries such as transmission & distribution, manufacturing, infrastructure & transportation, and others are incorporating GIS. With increasing energy investment by governments across the globe, the GIS market is set to display impressive growth. For instance, as per IEA.org, the global energy investment is set to increase by 8% in 2022 to reach $2.4 trillion, with the anticipated rise coming mainly in clean energy. Such investments will augment the expansion of micro-grid networks along with the integration of GIS to ensure grid supply security.
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Geographically, Asia-Pacific witnessed the fastest growth in the global gas-insulated switchgear market. The region is further projected to grow at the fastest CAGR during the forecast period. The increasing power demand in the region owing to the rising industrialization is one of the major factors that has augmented the high demand for gas-insulated switchgear in power grids. Apart from these, surged electrification projects due to increased demand and consumption of power is also the factor the market for gas insulated switchgear is growing. Significant investments in the transmission and distribution (T&D) infrastructure and the implementation of government policies for increasing the availability of clean energy across the major economies will create huge scope for market growth.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Gas Insulated Switchgear Market by Insulation Types
- SF6
- SF6 free
Global Gas Insulated Switchgear Market by Configurations
- Hybrid
- Isolated Phase
- Integrated Three Phase
- Compact GIS
Global Gas Insulated Switchgear Market by End-User
- Transmission & Distribution
- Manufacturing
- Infrastructure & Transportation
- Industries & OEM
- Commercial
- Others
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- ABB Group
- CG Power and Industrial Solutions
- Eaton Corp
- Fuji Electric Co., Ltd.
- General Electric Co
- Hitachi, Ltd.
- Hyosung Heavy Industries
- Hyundai Electric & Energy Systems Co., Ltd
- Lucy Group Ltd.
- Meidensha Corp
- Mitsubishi Electric Corp
- Nissin Electric Co., Ltd
- Powell Industries Inc
- Schneider Electric SE
- Siemens AG
- Toshiba Energy Systems & Solutions Corp
- Yueqing Liyond Electric Co. Ltd.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global gas insulated switchgear market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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