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Europe HV Gas Insulated Switchgear (GIS) Market Size

Report ID: GMI7375
Published Date: Nov 2023
Report Format: PDF

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Europe HV Gas Insulated Switchgear Market Size

Europe HV Gas Insulated Switchgear Market was valued at USD 4.1 billion in 2022 and is estimated to register at a CAGR of over 8.9% from 2023 to 2032. The deployment of smart grid technologies across Europe has been a state-driven phenomenon. Nations having sustainable population, higher income, and elevated electricity consumption will drive the smart grid network expansion. The rapid adoption of smart meters will favor the evolving smart transmission & distribution technologies across the region. Countries prone to frequent electricity deficit are anticipated to witness a high demand for smart monitoring and control technologies

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Gas insulated switchgear are metal encapsulated compact products consisting of circuit-breakers and disconnector which is used to control, isolate and protect electrical equipment. It is suitable for congested areas including extensions, on roofs, in city buildings, on offshore platforms, hydro power plants and industrial plants. Ongoing programs related to modernizing the power grid including grid energy storage, smart grid development & research, and advanced technologies will provide a competitive industrial scenario. Power flow controllers, network management systems, and solid-state components that can optimize the power delivery and further enhance resilience; interactive capabilities, including adaptive networks; intelligent control and communication systems will positively influence the product demand.

Europe HV Gas Insulated Switchgear Market Report Attributes
Report Attribute	Details
Base Year:	2022
Europe HV Gas Insulated Switchgear Market Size in 2022:	USD 4.1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	8.9%
2032 Value Projection:	USD 9.8 Billion
Historical Data for:	2019 to 2022
No. of Pages:	120
Tables, Charts & Figures:	217
Segments covered:	Capacity, Application
Growth Drivers:	Ongoing development of smart grid networks Retrofit & refurbishment of prevailing energy grid infrastructure Rising demand for electricity
Pitfalls & Challenges:	Heavy reliability on imports

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The power supply management industry has been a focal point globally, yet it faces ongoing limitations due to regional regulatory and geopolitical constraints. Disturbances in various countries can have a profound impact on energy markets, disrupting the equilibrium of the industry. Political instability and associated risks can undermine the stability of local, regional, and even worldwide energy markets by deterring investments and causing interruptions in the energy supply.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of Europe HV gas insulated switchgear was worth USD 4.1 billion in 2022 and is projected to grow at 8.9% through 2032, driven by the deployment of smart grid technologies across the region.

The offshore wind application segment is anticipated to grow at a 18.4% CAGR through 2032, owing to technological progress and the advantages of economies of scale.

Germany hv gas insulated switchgear market held around 11.9% revenue share in 2022, owing to nation’s commitment to reducing greenhouse gas emissions and transitioning to sustainable energy sources, as outlined in its Energiewende policy.

Siemens Energy, LS ELECTRIC Co., Ltd, Toshiba Energy Systems & Solutions Corporation, CG Power & Industrial Solutions Ltd., GE, Mitsubishi Electric Corporation, Hitachi Energy Ltd., Fuji Electric Co., Ltd are some of the leading market players.