Asia Pacific HV Gas Insulated Switchgear (GIS) Market Size - By Capacity (72.5 kV, 145 kV, 245 kV, 275 kV, 300 kV, 400 kV, 500 kV, 765 kV), By Application (Offshore Wind) & Forecast, 2024 – 2032

Asia Pacific HV Gas Insulated Switchgear Market Size

Asia Pacific HV Gas Insulated Switchgear Market was valued at USD 4.9 billion in 2023 and poised to register around 7.2% CAGR between 2024 and 2032. The substantial increase in energy demand, driven by a thriving industrial sector, is expected to lead to the expansion of high-voltage grid networks. The rising demand for manufactured goods, along with the rapid growth of manufacturing facilities, has compelled industry players to enhance and extend their operations throughout the region.
 

Gas insulated switchgear (GIS) is a type of compact, metal-encapsulated product that includes circuit-breakers and disconnectors. The widespread adoption of renewable energy sources, combined with strict regulations regarding greenhouse gas emissions, is poised to positively impact the industry's prospects. Countries worldwide that are committed to meeting their national emissions and renewable energy targets, as agreed upon during the 2015 Paris Summit, have experienced a substantial influx of investments in the electrical transmission and distribution sector. The integration of sustainable energy sources into both public and private electrical networks, as well as those operated by utilities, is expected to significantly propel the industry's development.
 

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.
 

COVID-19 Impact

The COVID-19 pandemic had a significant impact on global supply chains, causing disruptions in the production and delivery of gas insulated switchgear equipment. These disruptions were the result of factory closures, restrictions on transportation, and labor shortages that hampered manufacturing processes.
 

Asia Pacific HV Gas Insulated Switchgear Market Trends

The increasing deployment of renewable energy sources, along with advancements in distributed generation technologies, holds significant potential for the expansion of micro-grid networks. The widespread adoption of micro-grid technologies is expected to have a positive impact on the growth of the industry. Furthermore, technological diversification, aligned with the ongoing development of decentralized generation, and the rising concerns about energy security will bolster the industry's prospects. Additionally, the proliferation of the renewable energy industry, coupled with favorable regulatory measures to segment and upgrade existing grid technologies, is poised to have a positive influence on the overall dynamics of the industry.
 

Asia Pacific HV Gas Insulated Switchgear Market Analysis

Based on capacity, the 300 kV segment was worth USD 220 million revenue in 2022. The demand for electricity continues to rise significantly, driven primarily by factors like urbanization, industrialization, and the widespread adoption of electricity in various sectors, including transportation. This increasing demand highlights the critical need for reliable and efficient Gas Insulated Switchgear (GIS) systems, particularly those rated at 300 kV, to ensure the stability of power distribution networks. GIS systems, with their compact design and high voltage capabilities, play a central role in modern grid infrastructure.
 

Based on application, the offshore wind segment is set to grow at a CAGR of more than 16.2% through 2032. Offshore wind farms are experiencing rapid growth in both size and quantity, thanks to technological advancements and economies of scale. Many countries are now pursuing ambitious plans to significantly expand their offshore wind energy capacity, leading to an increased adoption of high voltage gas insulated switchgears. The trend toward larger and more powerful wind turbines continues, as these larger turbines are capable of capturing more wind energy and improving the overall efficiency of offshore wind farms.
 

The China HV gas insulated switchgear market 30.6% revenue share of in 2022. China was significantly investing in offshore wind power projects, which require high voltage GIS systems for efficient electricity transmission from offshore wind farms to the mainland. The government's push for renewable energy and offshore wind development was driving the demand for high voltage GIS. China was actively advancing its smart grid infrastructure, and high voltage GIS played a crucial role in grid modernization. The integration of GIS technology allowed for better control and management of the grid.
 

As China continued to urbanize and invest in infrastructure, there was a growing need for reliable high voltage GIS systems in urban areas to ensure stable and efficient power distribution. Stringent environmental regulations were encouraging the adoption of more environmentally friendly and compact GIS systems, which are known for their reduced environmental impact compared to traditional air-insulated switchgear.
 

Asia Pacific HV Gas Insulated Switchgear Market Share

Siemens Energy commands a substantial share in the Asia Pacific HV gas insulated switchgear industry. Renowned for its significant expertise in engineering and manufacturing a wide range of switchgear options, including air insulated switchgear (AIS), gas insulated switchgear (GIS), and others, this company holds a storied legacy in the field of transmission and distribution. Over the course of its history, the company has consistently served as a reliable supplier of switchgear solutions, addressing the requirements of commercial, industrial, and utility sectors.
 

Some of the key market players operating across the Asia Pacific HV gas insulated switchgear (GIS) industry are:

• 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.
• NISSIN ELECTRIC Co., Ltd.
• ILJIN ELECTRIC
• CHINT Group
• HD HYUNDAI ELECTRIC CO., LTD.
• Bharat Heavy Electricals Limited
• MEIDENSHA CORPORATION

This Asia Pacific HV gas insulated switchgear market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in Units & USD Million from 2019 to 2032, for the following segments:

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By Capacity

• 72.5 kV
• 145 kV
• 245 kV
• 275 kV
• 300 kV
• 400 kV
• 500 kV
• 765 kV

By Application

• Offshore Wind
• Others

The above information is provided for the following countries:

• China
• Japan
• South Korea
• India
• Australia