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Gas Insulated Switchgear Market Size By Capacity (< 38 kV, > 38 kV to ≤ 72 kV, > 72 kV to ≤ 150 kV, > 150 kV), By Voltage Level (Medium Voltage {Primary Distribution, Secondary Distribution}), High Voltage), By Application (Transmission & Distribution, Manufacturing & Processing, Infrastructure & Transportation, Power Generation), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2030

  • Report ID: GMI1929
  • Published Date: Sep 2022
  • Report Format: PDF

Industry Drivers

Gas Insulated Switchgear Market size valued at USD 20 billion in 2021 and is projected to grow at over 8% CAGR from 2022 to 2030. Rapid upgradation of aging grid infrastructure will spur the market expansion.
 

Gas Insulated Switchgear Market Overview

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With the advancement in artificial intelligence and other technologies, programs related to the refurbishment of aging energy grid infrastructure have been introduced worldwide. Governments have also launched favorable schemes to expand smart grid infrastructure. The modernization of grid networks will foster the installation of advanced electrical equipment and controls, including gas-insulated switchgear substations. Private and public sectors are also making significant investments in smart grid networks to meet the burgeoning power demand.
 

The consumption of electricity has risen considerably on account of the rising population and ongoing urbanization. In developing countries across Africa, there has been growing concern regarding persistent power lags and failures. These factors have led to increased investment in sustainable electrical networks. Furthermore, the introduction of favorable regulatory reforms associated with electrification will provide growth opportunities for the gas insulated switchgear industry in the coming years.
 

Geopolitical imbalance to hamper the industry development

Despite the lucrative business opportunities, regulatory and geopolitical factors may hinder the growth of the gas insulated switchgear market. The rising geopolitical imbalance, for instance, has adversely impacted the rate of technological adoption and the integration of smart power transmission components, particularly in developing economies. The sluggish technological evolution and geopolitical uncertainties are likely to assert a negative impact on gas insulated switchgear installation procedures.
 

Rising demand for >38 kV to ≤72 kV gas insulated switchgears

Gas Insulated Switchgear Market Size

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The >38 kV to ≤72 kV capacity segment is poised to depict a growth rate of more than 5% through 2030 driven by rapid advancement in technologies applicable to power distribution and transmission networks. Moreover, the expansion of electric distribution networks across small-scale and commercial industrial establishments will augment the use of >38 kV to ≤72 kV capacity switchgears.
 

Increasing reliance on large-scale power generation to drive demand for high voltage GIS

Gas Insulated Switchgear Market Trends

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The high voltage gas insulated switchgear market size is slated to showcase considerable gains through 2030, led by rising dependence on large-scale power generation and manufacturing industries. The demand for high voltage gas insulated switchgear will further increase, owing to the strong focus on the safety and reliability of energy grid networks and the implementation of regulatory frameworks for product standardization.
 

Rapid expansion of T&D utility services

The transmission and distribution segment is estimated to attain around 8% CAGR between 2022 and 2030. This growth is attributed to the ever-increasing power demand and the subsequent expansion of utility-based establishments, especially in urban and rural areas. In addition, the growing energy infrastructure development to address the surging energy needs in remote areas will further accelerate the segmental expansion.
 

Europe to become a lucrative revenue pocket for the GIS industry

The European region is expected to hold 27% of the gas insulated switchgear market share by 2030, impelled by the significant increase in investment in the renewable energy sector and the rapid expansion of microgrid networks. Rapid rate of urbanization and accelerating industrial sector developments across the region will further fuel the market statistics.
 

Strategic acquisitions & mergers by eminent players

Major companies operating in the GIS industry are Ormazabal, ABB, Eaton, Schneider Electric, Siemens, Toshiba Energy Systems & Solutions Corporation, GE, Mitsubishi Electric Corporation, and Hyundai Electric & Energy Systems Co., Ltd. These leaders are focusing on expanding their business and product reach to boost their presence in the global market.
 

For instance, in January 2022, ABB supplied MV double busbar AirPlus gas-insulated Switchgear of up to 36 kV to UK Power Networks. The product was designed to reduce unplanned downtime risks and deliver greater power load-sharing flexibility.
 

Impact of COVID-19 on the gas insulated switchgear market growth

In wake of the COVID-19 pandemic, power demand dropped owing to the dramatic reduction in industrial operations. The pandemic was also a key factor in slowing progress toward universal energy access. However, with the gradual ease of restrictions and lockdowns, electricity demand started to show signs of recovery.
 

This market research report on gas insulated switchgear includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2018 to 2030, for the following segments:

Market Insights, By Capacity

  • < 38 kV
  • > 38 kV to ≤ 72 kV
  • > 72 kV to ≤ 150 kV
  • > 150 kV

Market Insights, By Voltage Level

  • Medium Voltage
    • Primary Distribution
    • Secondary Distribution
  • High Voltage

Market Insights, By Application

  • Transmission & Distribution
  • Manufacturing & Processing
  • Infrastructure & Transportation
  • Power Generation
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Russia
    • Italy
    • Spain
  • Asia Pacific
    • China
    • Australia
    • India
    • Japan
    • South Korea
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Oman
    • South Africa
    • Egypt
  • Latin America
    • Brazil
    • Peru
    • Argentina

 

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of gas insulated switchgear surpassed USD 20 billion in 2021 and is set to depict a CAGR of over 8% through 2030, due to the rapid upgradation of aging grid infrastructure.

The <38 kV segment registered high revenue in 2021 driven by increased product usage in the power and infrastructure process industries.

The high voltage segment is anticipated to record substantial revenue by 2030, given the high dependence on large-scale power generation and manufacturing industries.

The transmission and distribution segment is slated to exhibit a growth rate of over 8% through 2030, driven by the robust power demand and the expansion of utility-based establishments, especially in urban and rural areas.

The North America GIS market registered revenue of more than USD 1 billion in 2021, owing to the rising government initiatives to upgrade and replace electrical networks.

Ormazabal, ABB, Eaton, Siemens, Toshiba Energy Systems & Solutions Corporation, GE, Mitsubishi Electric Corporation, and Hyundai Electric & Energy Systems Co., Ltd. are some of the key companies partaking in the market.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 16
  • Tables & Figures: 928
  • Countries covered: 23
  • Pages: 500

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