Increase in Increase in industrial activities and advancement in the developing economies is one among the major trend driving the global energy demand for Gas Insulated Switchgears market at a CAGR of 9.8% during the forecast period 2022 to 2030.

Market Research Future (MRFR) has published on the “global Gas Insulated Switchgear market”

that contains the information from 2019 to 2030. The Gas Insulated Switchgear market is estimated to register a CAGR of 9.8% during the forecast period of 2022 to 2030.

MRFR recognizes the following companies as the key players in the global Gas Insulated Switchgear market— Hitachi Energy, GE, (Switzerland), Siemens Energy (Germany), Schneider Electric (France), Toshiba Energy Systems & Solutions Corporation Co. Ltd., General Electric (US), Eaton Corporation (Ireland), Mitsubishi Electric (Japan), Hyundai Electric & Energy Systems (South Korea), Larsen & Toubro (India), Crompton Greaves (India), Hyosung Heavy Industries Corporation (Hong Kong), Toshiba Energy Systems & Solutions Corporation (Japan), CHINT Electric (Germany), Powell Industries (Texas), Meidensha Corporation (Japan), Nissin Electric Co., Ltd (Japan).

Market Highlights

The global Gas Insulated Switchgear market is accounted for to register a CAGR of 9.8% during the forecast period and is estimated to reach USD 42,988.8 Million by 2030.

Increasing energy consumption due to various factors increases the demand in the global gas insulated switchgear market. As energy consumption increases, infrastructure must be developed to meet the increasing demand. This includes the construction of new power plants, substations, transmission lines and distribution systems. Insulated switchgear is an essential part of these infrastructures as it enables efficient and safe switching and protection of electrical equipment. Modernization of existing power lines is essential to provide efficient and reliable electricity. As consumption increases, the grid must be adapted to accommodate more and more integrated renewable energy. Gas insulated switchgear plays an important role in this process, ensuring the safety and efficient use of electricity. It can be combined with intelligent tools such as monitoring and advanced management to improve network performance and increase reliability. Safety and reliability are essential to meet the bulk electricity needs. Insulated switch gears provide protection against electrical faults such as short circuits and overloads by isolating and extinguishing electric arcs that may occur in abnormal conditions.

This ensures the safety of electrical equipment and personnel. In addition, the reliability of electrical equipment can be increased by the use of electronic transformers, as they reduce the frequency of interruptions and interruptions due to electrical faults. Hence, growing concerns about energy efficiency are driving demand for insulated electrical products. Further energy consumption should be measured to optimize energy consumption and reduce losses. Insulated switchgear helps increase energy efficiency by reducing energy waste through improved insulation and switching processes. The increase in electricity consumption in general directly affects the demand for insulated switchgear as it is important for infrastructure, grid modernization, safety, reliability, and energy consumption.

Segment Analysis

The global gas insulated switchgear market has been segmented based on installation, voltage, insulation type, application, and region.

Based on voltage, the global gas insulated switchgear market has been classified into upto 27 kV, 27 kV to 36 kV, 36 kV to 72.5 kV, 72.5 kV to 145 kV and Above 145 kV. The 72.5 kV-145kV segment dominated the global gas insulated switchgear market with a value of USD 8,579.4 million in 2022; with an expected CAGR of 10.3% during the forecast period. Gas Insulated Switchgear are available from 12kV to 800kV systems. These switchgears are small in size, in a gas-tight metal space, all parts can be brought together in a less constrained space, and SF6 gas can be used to insulate existing equipment and ground equipment. In the range up to 27 kV, the voltage is low and the current is high. Therefore, the product is not important. Demand is high and, accordingly, production is high. This leads to intense competition. Most companies fall into the small and medium-sized enterprises (SMEs) category. In the 27kV to 72.5kV range, consumers and businesses use high-voltage equipment. GIS in the 72.5kV-145kV range is the largest and most widely used in a variety of electrical and industrial applications. Also, the review of the product is very good due to the high and ultra-high voltage. In addition, GIS, which is in the category above 145kV, has increased in the global market due to its widespread use in energy transmission, connection of renewable energy to the grid and use in different industries. Therefore, the demand for gas-fired power plants is increasing all over the world due to the widespread use of communication and distribution and the increase in investments in energy transmission.

Based on the installation, the global gas insulated switchgear market has been classified into indoor and outdoor. The indoor segment dominated the global gas insulated switchgear market with a value of USD 14,590.1 million in 2022; with expected CAGR of 5.93% during the forecast period. The Gas insulated switchgears are installed indoors due to its gas enclosed design and also as it provides the best solution for different substations like indoor as well as underground.

Based on the insulation type, the global gas insulated switchgear market has been classified into SF6 and SF6 free. The SF6 segment dominated the global gas insulated switchgear market with a value of USD 12,878.4 million in 2022; with an expected CAGR of 6.11% during the forecast period. SF6 gas is the most widely used insulating gas for switchgear applications especially in HV switchgears occupying 63% of the total addressable market in 2021. Majority of the switchgears available commercially are operated on SF6 gas as it is an excellent thermal and electrical insulator because it has a very high dielectric strength, and which increases further under pressure.

Based on the application, the global gas insulated switchgear market has been classified into p power generation, steel plants, refineries, large industrial plants, railways and others. The power generation segment dominated the global gas insulated switchgear market with a value of USD 6,409.8 million in 2022; with an expected CAGR of 10.5% during the forecast period. The segment accounted for 30% of the overall revenue. The majority share by power generation applications is attributed to the rise in the global energy demand due to industrial activity and advances in both developing and developed countries.

Access full report @ https://www.marketresearchfuture.com/reports/gas-insulated-switchgear-market-1108

Regional Analysis

Region-wise global gas insulated switchgear market has been divided into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia-Pacific held the largest market valued at USD 7,126.5 million in 2022 and is expected to exhibit a CAGR of 10.5%. Among the Asia-Pacific countries, China is the largest contributor to the Gas Insulation Switchgear market. China is a fast-growing economy oi and gas, mining, and earth excavation as main sectors, with the energy sector holding approximately 33% of the Asia Pacific market. Furthermore, as population growth and urbanization rates in the region rise, the stress on China’s electricity generation is rapidly intensifying, which in turn will increase the demand for Gas Insulation Switchgear in China. Recently, ABB, and its partners and suppliers have developed a system, a gas-insulated switchgear design that could pass all the tests of the State Grid Corporation of China (SGCC) leading to better market growth for the company in the region.

Apart from China, India is the second most populous country in the world, with more than 1.30 billion citizens. Within India, the demand for Gas Insulation Switchgear is high in urban areas and semi-urban areas. Moreover, the requirement of power in the upcoming industries and the massive rural electrification drive is poised to aid the growth of the switchgear industry in India. Further, countries such as Japan and South Korea have well developed and mature markets, which contribute to greater revenue from these countries. Additionally, the presence of several leading GIS manufacturers in Japan and Korea will propel market growth.

Key Findings of the Study

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  The global Gas Insulated Switchgear market is expected to reach USD 42,998.8 Million by 2030, at a CAGR of 9.8% during the forecast period.

  
  


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  Asia-Pacific held the largest market valued at USD 7,126.5 million in 2022 and is expected to exhibit a CAGR of 10.5%.

  
  


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  Based on Installation, the Indoor segment was attributed to holding the largest market in 2022, with an approximate market share of 68.29%

  
  


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  Based on Voltage, the 72.5 kV-145kV segment was attributed to holding the largest market in 2022, with an approximate market share of 42.04%.

  
  


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  Based on Insulation Type, SF6 segment was attributed to holding the largest market in 2022, with an approximate market share of 63.62%.

  
  


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  Based on Application, the power generation segment was attributed to holding the largest market in 2022, with an approximate market share of 31.36%.

  
  


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  Hitachi Energy, GE, (Switzerland), Siemens Energy (Germany), Schneider Electric (France), Toshiba Energy Systems & Solutions Corporation Co. Ltd., General Electric (US), Eaton Corporation (Ireland), Mitsubishi Electric (Japan), Hyundai Electric & Energy Systems (South Korea), Larsen & Toubro (India), Crompton Greaves (India), Hyosung Heavy Industries Corporation (Hong Kong), Toshiba Energy Systems & Solutions Corporation (Japan), CHINT Electric (Germany), Powell Industries (Texas), Meidensha Corporation (Japan), Nissin Electric Co., Ltd (Japan).