Gas Insulated Medium Voltage Switchgear Market Size - By Component (Circuit Breakers, Contactors, Switches & Disconnector, Fuses), By End Use (Power Stations, Transformer Substations, Local Electricity Supply), Application, Voltage & Forecast, 2024 – 2032

Gas Insulated Medium Voltage Switchgear Market Size

Gas Insulated Medium Voltage Switchgear Market was valued at USD 6.8 billion in 2023 and is projected to witness around 8.6% CAGR between 2024 and 2032. The increasing demand for reliable and compact electrical distribution solutions in urban areas and industrial settings fuels the adoption of gas-insulated switchgear. Rising electricity consumption across the globe will boost the demand for reliable protection devices including MV switchgears. For instance, for instance, as per U.S. Energy Information Administration (EIA), U.S. the total electricity consumption in 2022 accounted to 4.05 trillion kWh, which is 2.6% higher than 2021 and 14 times higher than the consumption in 1950.
 

The need for improved grid stability and reduced downtime in critical infrastructure, such as power generation and transmission, amplifies the deployment of gas-insulated MV switchgear, as it provides robust insulation and fault-clearing capabilities. The transition to smart grids and digital technologies necessitates advanced MV switchgear with integrated control and monitoring features, further propelling the market's growth. Additionally, the expansion of renewable energy sources and electrification initiatives across various industries drives the requirement for efficient MV switchgear solutions.
 

COVID-19 Impact

The COVID-19 pandemic moderately influenced the gas insulated medium voltage switchgear market. Although the demand for energy infrastructure remained stable, supply chain disruptions and construction delays in certain regions impacted the market. However, the pandemic also expedited the demand for dependable and efficient electrical distribution systems, given the widespread adoption of remote work and telecommuting. This heightened the investment in power distribution and grid upgrades, including MV switchgear. Looking ahead, the long-term market prospects remain optimistic as the world's dependence on electricity for various applications continues to grow, countering the temporary setbacks brought about by the pandemic.
 

Gas Insulated Medium Voltage Switchgear Market Trends

The gas insulated medium voltage switchgear industry is witnessing notable trends. One prominent trend is the increasing focus on eco-friendly and environmentally sustainable switchgear solutions, driven by stringent regulations and the industry's commitment to reducing greenhouse gas emissions. Additionally, the adoption of digital technologies and smart grid concepts is on the rise, with gas-insulated MV switchgear incorporating advanced monitoring and control features for enhanced grid management. Modular and compact designs are gaining popularity, enabling easier installation and maintenance.
 

Gas Insulated Medium Voltage Switchgear Market Analysis

Based on voltage rating, the switchgear rated at ≥ 21 kV to < 27 kV held around 23% of the market share in 2022 and is projected to showcase 9% CAGR through 2032. The increasing requirement for reliable and secure distribution networks across residential, commercial, industrial, and utility sectors is a primary driver for gas-insulated switchgear products in the 21 kV to 27 kV range. The ongoing expansion of substantial residential complexes and apartment buildings, influenced by suburban migration, is expected to contribute to this demand.
 

The circuit breakers segment exceeded USD 3.3 billion in 2022 and is anticipated to surpass USD 7.1 billion by 2032. As industries and utilities seek enhanced grid stability, reduced downtime, and efficient fault-clearing mechanisms, the adoption of gas-insulated MV switchgear with advanced circuit breakers has surged. This trend is particularly prominent in critical infrastructure sectors such as power generation, transmission, and substation installations.
 

Gas-insulated medium voltage switchgear technology finds applications across various sectors, including transformer substations, local electricity supply, power stations, and more. The global upsurge in electricity demand has expedited the deployment of distribution infrastructure, consequently boosting the demand for gas-insulated medium voltage switchgear systems in local electricity supply networks.
 

The utility sector is poised to attain 8% CAGR from 2023 to 2032. Utilities are leading the charge with significant investments directed towards modernizing power distribution networks. This drive for modernization is rooted in the utility sector's determination to elevate the efficiency, reliability, and overall resilience of power distribution systems. Medium voltage switchgears play a pivotal role in enabling advanced functionalities such as smart metering, automation, and remote monitoring, which are essential for optimizing grid performance.
 

Asia Pacific gas insulated medium voltage switchgear market is estimated to observe gains at nearly 6.5% up to 2032, owing to the rapid industrialization and urbanization are spurring substantial investments in power infrastructure and distribution networks. This heightened demand for reliable and compact electrical solutions has amplified the adoption of gas-insulated switchgears, which offer a smaller footprint and enhanced safety. The increasing integration of renewable energy sources, particularly in countries like China and India, necessitates advanced switchgear technologies to manage and distribute electricity effectively.
 

Gas Insulated Medium Voltage Switchgear Market Share

ABB has established a dominant presence in the gas insulated medium voltage switchgear industry, securing a significant market share. This market leadership is underpinned by ABB's longstanding commitment to innovation, cutting-edge technology, and a comprehensive portfolio of high-quality switchgear solutions. ABB's gas-insulated switchgears are known for their compact design, robust performance, and exceptional safety features, making them the preferred choice for various industries and utilities.
 

Some of the key market players operating across the gas insulated medium voltage switchgear industry are:

• ABB
• Siemens
• Schneider Electric
• Eaton
• HYOSUNG HEAVY INDUSTRIES
• Toshiba Infrastructure Systems & Solutions Corporation
• Ormazabal
• CG Power & Industrial Solutions Ltd
• NISSIN ELECTRIC Co.,Ltd.
• Xiamen Huadian Switchgear Co., Ltd.
• Lucy Group Ltd.
• HD Hyundai Electric Co., Ltd.
• Switchgear Company
• Yueqing Liyond Electric Co., Ltd.
• Bulox Corporation
• CAHORS

Gas Insulated Medium Voltage Switchgear Market News:

• In October 2022, Schneider Electric launched new range of primary GIS switchgear called AirSeT foe clean electricity distribution. The product supports industrial & grid decarbonization and offers maintenance and operational advantages enabled by enhanced digital features. The company’s medium voltage technology has a complete range of data-powered capabilities, that monitors electrical distribution applications’ performance. It will also enable predictive and preventive condition-based maintenance. This launch expanded the company’s product portfolio across the medium voltage switchgear segment.
   
• In May 2020, Siemens expanded its environment-friendly GIS of up to 24 kV product portfolio by introducing a new NXPLUS C 24 MV switchgear, which does not contain fluorine gas. The utilization of clean air technology along with vacuum switching technology removes the necessity of fluorine-based gas mixtures, further enabling climate-neutral energy distribution. In addition, it is equipped with digital features, allowing reliable, safe & cost-efficient operations.
   

This gas insulated medium voltage switchgear market research report includes an in-depth coverage of the industry with estimates & forecast in terms of units and revenue in ‘000 Units and USD Million from 2019 to 2032, for the following segments:

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By Voltage

• ≥ 3 kV to < 9 kV
• ≥ 9 kV to < 15 kV
• ≥ 15 kV to < 21 kV
• ≥ 21 kV to < 27 kV
• ≥ 27 kV to < 33 kV
• ≥ 33 kV

By Component

• Circuit Breakers
• Contactors
• Switches & Disconnector
• Fuses
• Others

By Insulation

• Air
• Gas
• Oil
• Gas
• Others

By End Use

• Power Stations
• Transformer Substations
• Local Electricity Supply
• Others

By Application

• Residential
• Commercial
• Industrial
• Utility

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