Gas Insulated Switchgear Market Analysis

Gas Insulated Switchgear Market Analysis

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.
 

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.
 

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.
 

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.