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Asia Pacific HV Gas Insulated Switchgear (GIS) Market Trends

Report ID: GMI7237
Published Date: Oct 2023
Report Format: PDF

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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.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The Asia Pacific market for HV Gas Insulated Switchgear was worth USD 4.9 billion in 2023 and is projected to observe 7.2% CAGR from 2024 to 2032.

The offshore wind segment is expected to witness more than 16.2% CAGR from 2023 to 2032, attributed to the technological advancements in wind farms, along with the expansion of offshore wind energy capacity, leading to an increased adoption of high voltage gas insulated switchgears (GIS).

China HV gas insulated switchgear (GIS) industry acquired over 30.6% of the revenue share in 2022, as China is significantly investing in offshore wind power projects, which require high voltage GIS systems for efficient electricity transmission from offshore wind farms to the mainland.

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, and MEIDENSHA CORPORATION.