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Gas Insulated Medium Voltage Switchgear Market Size

Report ID: GMI7056
Published Date: Dec 2024
Report Format: PDF

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Gas Insulated Medium Voltage Switchgear Market Size

The global gas insulated medium voltage switchgear market size was valued at USD 7.5 billion in 2024 and is estimated to grow at a CAGR 8.6% from 2025 to 2034 due to increasing demand for reliable and compact electrical equipment in industries like power generation, utilities, and commercial sectors. GIS offers advantages such as high performance, safety, and a reduced footprint compared to traditional air-insulated switchgear, making it ideal for urban environments and space-constrained areas.

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The growing focus on renewable energy integration, such as wind and solar power, further boosts GIS adoption due to its ability to handle the intermittent nature of these energy sources effectively. Additionally, technological advancements in GIS, including enhanced monitoring and diagnostic systems, are improving operational efficiency and reliability.

Gas Insulated Medium Voltage Switchgear Market Report Attributes
Report Attribute	Details
Base Year:	2024
Gas Insulated Medium Voltage Switchgear Market Size in 2024:	USD 7.5 Billion
Forecast Period:	2025 - 2034
Forecast Period 2025 - 2034 CAGR:	8.6%
2034 Value Projection:	USD 16.7 Billion
Historical Data for:	2021 - 2024
No. of Pages:	100
Tables, Charts & Figures:	20
Segments covered:	Voltage, Component, End Use, Application
Growth Drivers:	Rising Demand for Electricity Growing Renewable Energy Integration
Pitfalls & Challenges:	High dependency on imports

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Moreover, the expansion of electrical grid infrastructure in emerging economies, coupled with modernization efforts in developed regions, is fostering market growth. Governments' push for infrastructure upgrades and energy efficiency measures is also contributing to the increasing demand for GIS.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

How big is the gas insulated medium voltage switchgear market? The market size of gas insulated medium voltage switchgear reached USD 7.5 billion in 2024 and is set to grow at a CAGR of 8.6% from 2025 to 2034, driven by the increasing demand for compact and reliable electrical equipment in power generation, utilities, and commercial sectors.

The circuit breakers segment is expected to grow at a CAGR of over 7.7% through 2034, led by the need for enhanced protection and reliability in power distribution systems.

The U.S. market is projected to surpass USD 17 billion by 2034, fueled by infrastructure modernization, grid expansion, and the integration of renewable energy sources like wind and solar.

The key 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, Hyosung Heavy Industries, Lucy Group, Mitsubishi Electric, Ormazabal, Schneider Electric, Siemens, Skema, and Toshiba.