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Asia Pacific HV Gas Insulated Switchgear Market Trends

Report ID: GMI7237
Published Date: Dec 2024
Report Format: PDF

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Asia Pacific HV Gas Insulated Switchgear Market Trends

Manufacturers are exploring alternatives to sulfur hexafluoride (SF6), a potent greenhouse gas widely used in GIS. Technologies like fluoronitrile-based solutions and vacuum switchgear are gaining traction, particularly in regions with stringent environmental regulations, such as Japan and South Korea.

The push for renewable energy in countries like China, India, and Australia is driving the demand for HV GIS, which is crucial for integrating renewable power sources into the grid. These systems offer the reliability and efficiency needed to manage fluctuating energy inputs from solar and wind farms. Rapid urbanization across Asia Pacific has led to an increased need for compact and space-efficient solutions.

HV GIS is favored for its small footprint and suitability for densely populated areas. Mega-cities in countries such as China, India, and Indonesia are adopting GIS to modernize their aging electrical infrastructure. Government initiatives to improve grid reliability and efficiency are bolstering the market. China's ambitious State Grid programs, India’s Smart Grid Mission, and Japan's energy transition goals are accelerating investments in HV GIS. These upgrades include replacing old substations and integrating advanced GIS systems for better performance.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size for HV gas insulated switchgear in Asia Pacific reached USD 5.2 billion in 2024 and is set to grow at a 7.1% CAGR from 2025 to 2034, driven by rapid urbanization, industrial expansion, and increasing electricity demand.

The offshore wind segment is expected to grow at a CAGR of over 11.8% through 2034 due to its critical role in efficient power transmission from offshore wind farms to the grid, supported by the rapid development of renewable energy projects in China, Japan, and South Korea.

The China market is forecasted to surpass USD 2.6 billion by 2034, fueled by significant investments in smart grid technology and renewable energy integration to enhance grid stability and reduce carbon emissions.

Leading players in the market include ABB, Bharat Heavy Electricals, CG Power and Industrial Solutions, E + I Engineering, Eaton, Fuji Electric, General Electric, HD Hyundai Electric, Hitachi, Lucy Group, Mitsubishi Electric, Ormazabal, Schneider Electric, Siemens, Skema, and Toshiba.