📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

Gas Insulated Transformer Market Size

ID: MRFR//5148-HCR | 111 Pages | Author: Anshula Mandaokar| July 2024

In gas insulated transformer, fuel is used as the insulating and cooling medium for the transformer. Sulfur hexafluoride SF6 is the gasoline used in gas-insulated transformers. These transformers are adopted because of their surroundings-friendliness, non-explosive, and non-flammable. Also, with their utilization, there may be no need for the conservator to screen the oil energy or need for a substitute. These transformers are designed with the most advanced technical features, favorable for hydro strength, underground substation, and offshore substation. Currently, in the transformer industry, gas-insulated transformers are favored over oil-insulated transformers because of their numerous advantages. Hence, it's expected that there will be an extensive boom in the insulated transformer market due to various blessings and pleasant packages in the surroundings.
The gas-insulated transformer (GIT) market is experiencing dynamic shifts driven by various factors that influence its basic market dynamics. One of the important thing drivers propelling the growth of this market is the increasing demand for dependable and efficient power distribution systems. As industries and urbanization continue to expand globally, the want for sturdy and compact electric infrastructure will become paramount. Moreover, the developing emphasis on renewable electricity assets has similarly fueled the demand for gas-insulated transformers. As the world transitions in the direction of a more sustainable power destiny, there may be heightened attention on integrating renewable energy into current electricity grids.
Another full-size issue influencing the market dynamics of gas-insulated transformers is the increasing funding in clever grids. Smart grids leverage superior technology to enhance the performance and reliability of strength distribution networks. Gas-insulated transformers, with their compact size and reduced upkeep needs, match nicely within the framework of smart grid infrastructure. This alignment with the evolving technological landscape has positioned gas-insulated transformers as an important factor in the modernization of strength structures. In conclusion, the gas-insulated transformer market is characterized by using a dynamic interplay of things riding its increase and evolution. The increasing demand for dependable power distribution, coupled with the emphasis on renewable power and clever grid technology, has placed gas-insulated transformers as a key player in the evolving strength panorama.

Covered Aspects:

Report Attribute/Metric Details
Market Size Value In 2022 USD 2.5 Billion Billion
Market Size Value In 2023 USD 2.63 Billion
Growth Rate 5.23% (2023-2032)

Global Gas Insulated Transformer Market Overview:

Global Gas Insulated Transformer Market Size was valued at USD 2.63 Billion in 2023. The gas insulated transformer market industry is projected to grow from USD 2.77 Billion in 2024 to USD 3.96 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.58% during the forecast period (2024 - 2032). The main market drivers focus on integrating renewable energy sources, technical improvements, and developing power grid infrastructure. Demand for small and dependable transformers is rising. The market does, however, present potential for developing infrastructure in emerging nations, expanding the renewable energy sector, loT and data analytics, and electrification.

Global Gas Insulated Transformer Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Gas Insulated Transformer Market Trends

  • Expansion of power transmission and distribution (T&D) is driving the market growth

The gas insulated transformer market is seeing changes driven by the expansion of power transmission and distribution (T&D). APAC is one of the most significant areas seeing many changes in the target market. Industrial growth directly impacts urbanization since it leads to more people building homes and businesses. Due to its rapidly expanding population and rising disposable income, India has one of the highest rates of urbanization in the world. China is likewise seeing comparable urbanization tendencies. Among the other regions of the world, South America, particularly Brazil, one of the top developing nations, are undergoing enormous economic changes. Despite being under construction and rapidly urbanizing, the manufacturing sector in these places has tremendous expansion potential. However, these nations will develop into major hubs for manufacturing automobiles and other goods, which will raise the demand for power. The beginning of planned capacity expansion projects by industry and government power companies in several places has been made possible by activity. These initiatives demonstrate the rising rate of electricity usage. Due to its strong safety properties, sulfur hexafluoride (SF6) is added to gas insulated transformers to increase its acceptance in power distribution. These elements will propel the gas insulated transformer market CAGR expansion during the forecast timeframe.

The market for gas-insulated transformers is anticipated to rise in the future due to an increase in government initiatives. Governments worldwide are investing in various energy plant programs to help fulfill the growing energy demand. For instance, the Indian government built a new gas-insulated substation in Maharashtra, India, according to the Power Transformer News Report published in January 2022. Three different sources and channels support the substation, which has a 300MW capacity that could be increased to 700MW. Therefore, the market for gas-insulated transformers is being driven by rising efforts to develop gas and power plants.

The market for gas insulated transformers is primarily characterized by growing vendor strategic alliances. Market players have been collaborating and signing agreements for gas insulated transformers to diversify their product offerings. For example, Toshiba and Meshaiden Corporation have been collaborating since 2020 on the joint development of gas insulated switchgear for 72 kV and 84 kV using natural gas without SF6. Due to the market's rising need for environmentally friendly products, businesses agreed to hasten the development and commercialization of this gas-insulated switchgear in June 2021. Furthermore, Siemens and Mitsubishi signed a Memorandum of Understanding in June 2021 to perform a feasibility study on developing high voltage switches with low global warming potential (GWP), which employ clean air rather than greenhouse gases for insulation. Both organizations will research ways to increase the clean-air insulation technology's application at greater voltages. Thus, during the projected period, the market under consideration will benefit from such techniques employed by the industry's vendors. Thus, driving the gas insulated transformer market revenue.

Gas Insulated Transformer Market Segment Insights:

Gas Insulated Transformer Voltage Rating Insights

The global gas insulated transformer market segmentation, based on voltage rating includes Medium, High and Extra High. The medium segment dominated the market. Transformers for medium voltage with gas insulation and distribution capabilities can reach 72.5 kV. SF6 gas, an SF6 gas sleeve, a transformer on-load voltage regulation switch, a gas temperature gauge, a sudden pressure relay, a plate radiator, a pressure monitoring device, an airflow indicator, a winding temperature gauge, a cooling system intelligent control box, a gas circulation pump, and a blowing device are among the components of medium voltage gas insulated transformers.

Gas Insulated Transformer End-Use Insights

The global gas insulated transformer market segmentation, based on end-use, includes Utility, Industrial and Commercial. The utility category generated the most income. The trend of relocating massive substations underground in overpopulated urban areas has been sparked by the expanding demand for electricity in cities worldwide, the shortage of available land to build new substations or renovate those already present close to the load centers, and unfavorable environmental conditions. To avoid accidents and guarantee the compactness of equipment, a developing market for large-capacity, incombustible, and nonexplosive gas insulated transformers (GIT) has emerged.

Gas Insulated Transformer Type Insights

The global gas insulated transformer market segmentation, based on type includes Instrument Transformer and Others. The instrument transformer segment dominated the market. An electrical device known as an instrument transformer uses the ferromagnetic properties of alternating currents and materials.

Gas Insulated Transformer Type of Cooling Insights

The global gas insulated transformer market segmentation, based on type of cooling includes Gas Directed Air Natural Cooling, Gas Directed Air Forced Cooling and Gas Directed Water Forced Cooling. The gas directed air natural cooling segment dominated the market. Gas-insulated transformers use a cooling technique called "Gas Directed Air Natural Cooling" (GDANC). The advantages of gas and directed air natural cooling are combined in the cutting-edge cooling technique, GDANC.

Gas Insulated Transformer Installation Insights

The global gas insulated transformer market segmentation, based on installation includes Outdoor and Indoor. The indoor segment dominated the market. Gas-insulated transformers are widely used for cities' subterranean or indoor installations because of their small size, reduced noise level, and low electromagnetic radiation output. Indoor installation of gas-insulated transformers is frequently done in underground spaces beneath public parks and commercial structures to conserve space, maintain safety, and offer a consistent electricity supply. In addition, indoor gas-insulated transformers are suitable for use in establishments that prioritize fire safety, including hotels, schools, factories, department stores, chemical plants, and hospitals.

Figure 1: Global Gas Insulated Transformer Market, by Installation, 2024 & 2032 (USD Billion)

Global Gas Insulated Transformer Market, by Installation, 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Gas Insulated Transformer Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American gas insulated transformer market area will dominate this market. Electricity in the region is produced, transmitted, distributed, and used in drastically altering ways. The energy markets have undergone major reorganization, particularly in the transmission and distribution networks, which has prepared the way for the increased demand for cutting-edge technologies like gas-insulated transformers. Rising energy consumption and ageing power infrastructure are expected to be the key forces behind the transmission and distribution sector development, which will promote the local expansion of gas-insulated transformers.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Global Gas Insulated Transformer Market Share By Region 2022 (USD Billion)

Global Gas Insulated Transformer Market Share By Region 2022

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe gas insulated transformer market accounts for the second-largest market share. In Europe, many countries are investing in renewable technologies like solar photovoltaic and wind power to reduce their reliance on fossil fuels due to the region's energy diversification. In addition, governments have implemented a number of laws to boost renewable energy in response to the rising worries over carbon emissions. Due to the regulations' considerable impact on the market's growth and integration of renewable energy into national grids, the market for gas-insulated transformers is projected to expand. Further, the German gas insulated transformer market held the largest market share, and the UK gas insulated transformer market was the fastest growing market in the European region

The Asia-Pacific Gas insulated transformer Market is expected to grow at the fastest CAGR from 2023 to 2032. The tremendous industrialization and urbanization of the area over the last few years has resulted in a major rise in the power demand. As a result, over the same period, investments in T&D infrastructure have significantly increased. Gas-insulated transformers are also becoming increasingly common as long-distance T&D projects attempt to be more ecologically friendly by reducing their negative environmental effects and enhancing safety by constructing underground networks and smaller substations. Moreover, China’s gas insulated transformer market held the largest market share, and the Indian gas insulated transformer market was the fastest growing market in the Asia-Pacific region.

Gas Insulated Transformer Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the gas insulated transformer market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, gas insulated transformer industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the insulated Voltage Transformers industry to benefit clients and increase the market sector. In recent years, the gas insulated transformer industry has offered some of the most significant advantages to market. Major players in the Gas-insulated Station service market attempting to increase market demand by investing in research and development operations include ABB Ltd. (Switzerland), General Electric (US), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Toshiba Corporation (Japan), Arteche (Spain), Meidensha Corporation (Japan), Takaoka Toko Co. Ltd (Japan), Fuji Electric co. Ltd. (Japan) and Chint Group (China).

Chint Electrics is a producer of low-voltage electrical goods based in Zhejiang, China. It produces and sells a variety of low-voltage items with different specifications. Moulded case circuit breakers, modular din-rail products, control products, transformers, soft starters, inverters, automatic voltage regulators, power relays, capacitors, and switch disconnectors are among the company's product offerings. The company provides services to a number of industries, including petrochemical, building, electric power, machinery, railroad, communication, metallurgy, and HVAC.

The company Mitsubishi Electric Corp. creates, produces, and sells electrical and electronic equipment. The company's product line includes air conditioning systems, household goods, space systems, industrial automation systems, automobile equipment, visual information systems, transportation systems, semiconductors and devices, building systems, energy systems, information and communication systems, and public systems. Additionally, it provides network, infrastructure, and maintenance services. Mitsubishi Electric provides services to the information processing and communications, satellite communications, industrial technology, construction equipment, consumer electronics, energy, and transportation industries.

Key Companies in the gas insulated transformer market include

  • ABB Ltd. (Switzerland)

  • General Electric (US)

  • Mitsubishi Electric Corporation (Japan)

  • Siemens AG (Germany)

  • Toshiba Corporation (Japan)

  • Arteche (Spain)

  • Meidensha Corporation (Japan)

  • Takaoka Toko Co. Ltd (Japan)

  • Fuji Electric co. Ltd. (Japan)

  • Chint Group (China)

Gas Insulated Transformer Industry Developments

April 2023- Hyosung Heavy Industries recently disclosed that it secured 3.5101 trillion won (US$2.6752 billion) in sales and 143.2 billion won (US$109.1 million) in operating profit in 2022, thanking the rise in global demand for power generation equipment. This signified a rise of 23.1 billion won (US$17.6 million) in operating profit compared to 2021. The organization anticipates continued development because of the rise in new power generation sources and escalating demand for transmission and distribution in the global power market.

Hyosung Heavy Industries is penetrating the U.S. market after finishing the growth of its high-voltage transformer production base in the city of Memphis in the U.S. state of Tennessee, which it secured in 2020. The U.S. market has a high demand for power equipment replacements. At present, demand for transmission and distribution equipment in the United States is on the escalation, but supply is limited, causing price hikes and expanded orders. Hyosung Heavy Industries' flagship products are 100 MVA or higher transformers, which are described as Large Power Transformers (LPTs) by the U.S. Department of Energy. Ninety percent of U.S. transmission and distribution power is transferred via LPTs.

At present, 70 percent of the deployed LPTs in the United States are more than 25 years old. Subsequently, a standard LPT lifespan is 30 to 40 years, so there will be a stable requirement for replacement, experts say. Additionally, the United States has made decarbonization (net zero) a leading national priority, with strategies to acquire net-zero electricity generation by 2035. This will activate an increase in orders for large-scale solar and wind power generation and transmission and distribution facilities and fuel requirements for products such as energy storage systems (ESSs), static synchronous compensators (STATCOMs), and gas insulated switchgear (GIS), which hold the key to a thriving energy transition.

May 2022: After completing all procedures to establish Arteche Hitachi Energy Instrument Transformers S.L., the replacement for Arteche Gas Insulated Transformers (AGIT), Arteche and Hitachi Energy received regulatory permission. Through this partnership, Arteche and Hitachi Energy are hastening the creation of environmentally friendly, sustainable gas insulated transformers.

December 2021: Manufacturers of AIS Instrument Transformers Pfiffner and Trench issued a declaration regarding SF6-free transformers. SF6 is typically utilized in AIS High Voltage Instrument Transformers due to its safety features. However, when released into the environment, SF6 is considered a gas contributing to global warming.

July 2020: The Japanese giant Hitachi Ltd. purchased ABB Power Grids for $7.8 billion. Hitachi would create a new firm through this acquisition to address the power industry's renewable and distributed energy frontiers, become one of the top grid equipment and services suppliers globally, and expand its utility segment access across all nations. Gas insulated transformers are offered by ABB Power Grid, a firm that specializes in energy innovation and transition and is situated in Switzerland.

Gas Insulated Transformer Market Segmentation:

Gas Insulated Transformer Voltage Rating Outlook (USD Billion, 2018-2032)

  • Medium

  • High

  • Extra High

Gas Insulated Transformer End-Use Outlook (USD Billion, 2018-2032)

  • Utility

  • Industrial

  • Commercial

Gas Insulated Transformer Type Outlook (USD Billion, 2018-2032)

  • Instrument Transformer

  • Others

Gas Insulated Transformer Type Of Cooling Outlook (USD Billion, 2018-2032)

  • Gas Directed Air Natural Cooling

  • Gas Directed Air Forced Cooling

  • Gas Directed Water Forced Cooling

Gas Insulated Transformer Installation Outlook (USD Billion, 2018-2032)

  • Outdoor

  • Indoor

Gas Insulated Transformer Regional Outlook (USD Billion, 2018-2032)

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.