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Gas Insulated Switchgear Market Size
Gas Insulated Switchgear Market size was valued at USD 24 billion in 2023 and is projected to grow at a CAGR of 8.1% from 2024 to 2032. This growth is driven by several factors, including increasing urbanization and industrialization, which necessitate compact and efficient power distribution systems.
Additionally, the expansion of renewable energy projects and the modernization of aging grid infrastructure further fuel the market's expansion. The International Energy Agency (IEA) reported a surge in global renewable sector investment, reaching USD 446 billion in 2021, marking substantial growth since the Paris Agreement in 2015, which in turn complements the product deployment across the globe.
The rising demand for reliable and safe electrical infrastructure also plays a significant role. The advantages of GIS, such as space-saving design, high operational reliability, and reduced maintenance requirements, contribute to its growing adoption across various sectors, including utilities, industrial, and commercial applications.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 24 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 8.1% |
| 2032 Value Projection: | USD 48.8 Billion |
| Historical Data for: | 2021 to 2023 |
| No. of Pages: | 110 |
| Tables, Charts & Figures: | 20 |
| Segments covered: | Capacity, Voltage Level, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Gas Insulated Switchgear Market Trends
The Gas Insulated Switchgear (GIS) market is experiencing significant growth, driven by the increasing demand for reliable and efficient power supply, urbanization, and the expansion of electrical infrastructure. Advancements in technology, such as compact designs and enhanced safety features, are making GIS a preferred choice over traditional switchgear. The rising focus on renewable energy integration and smart grid implementation is also contributing to market expansion.
Additionally, stringent government regulations on environmental safety and the reduction of space constraints in densely populated urban areas are further propelling the adoption of GIS systems. Key players are investing in research and development to innovate and improve GIS solutions, enhancing their performance and reliability, thus driving the market growth globally.
Gas Insulated Switchgear Market Analysis
The gas-insulated switchgear industry, particularly in the high voltage rating segment, is projected to surpass USD 31 billion by 2032. This significant growth is driven by several factors. The increasing demand for reliable and uninterrupted power supply, coupled with the expansion of renewable energy sources, necessitates advanced electrical infrastructure. Additionally, urbanization and industrialization across emerging economies are leading to a heightened need for efficient power distribution systems. The compact size, enhanced safety features, and low maintenance requirements of GIS make it a preferred choice over traditional air-insulated switchgear. Furthermore, stringent government regulations aimed at reducing carbon emissions and improving energy efficiency are propelling the adoption of GIS technology, contributing to the market's robust expansion.
The gas insulated switchgear market within transmission and distribution networks is expected to achieve a CAGR exceeding 8.5% up to 2032. This growth is driven by several factors, including the increasing demand for reliable and efficient power supply systems, the rising need for compact and space-saving electrical infrastructure, and the growing investments in renewable energy projects. Additionally, advancements in technology and the push for modernization of aging grid infrastructure are contributing to the market expansion. The enhanced safety features and operational efficiency of gas insulated switchgear compared to traditional systems further support its adoption across various regions.
The GIS market across Europe is projected to grow over USD 14.5 billion by 2032, owing to the increasing demand for reliable and efficient power distribution systems, urbanization, and the need for compact, space-saving solutions. Additionally, the rise in renewable energy projects and smart grid initiatives boosts the demand for GIS, which offers enhanced safety, reduced maintenance, and higher operational reliability compared to traditional switchgear systems. According to the European Union, renewables reached a record 44% share in 2023, surpassing the 40% mark for the first time. Furthermore, the market benefits from stringent environmental regulations promoting the adoption of eco-friendly alternatives and the modernization of aging electrical infrastructure.
The U.S. GIS market is expanding due to increasing investments in renewable energy, grid modernization efforts, and the need for reliable electricity distribution infrastructure. GIS systems are favored for their compact design, high reliability, and reduced environmental impact compared to conventional switchgear. These factors, coupled with regulatory support and technological advancements, drive the growth of the GIS market in the U.S.
Gas Insulated Switchgear Company Market Share
ABB holds a significant share in the gas insulated switchgear market, leveraging its advanced technology and extensive experience. Known for its compact and reliable GIS solutions, ABB caters to diverse sectors including power transmission, distribution networks, and infrastructure projects. The company's strong market presence is bolstered by ongoing innovation in GIS technology, supporting efficient energy management and grid reliability worldwide.
Gas Insulated Switchgear Market Companies
Some of the key market players operating across the gas insulated switchgear industry are:
- ABB
- Chint Group
- ELECTRIC&ELECTRONIC CO.,LTD.
- Eaton
- Fuji Electric Co., Ltd.
- GE
- Hitachi Energy Ltd.
- Hyundai Electric & Energy Systems Co., Ltd.
- ILJIN Electric
- LS ELECTRIC Co., Ltd.
- Mitsubishi Electric Corporation
- NISSIN ELECTRIC Co., Ltd.
- Ormazabal
- Schneider Electric
- Siemens
- Toshiba Energy Systems & Solutions Corporation
Gas Insulated Switchgear Industry News
- In January 2022, ABB deployed MV double busbar 36 kV AirPlus GIS to UK Power Networks, who is renowned for its minimal global warming impact. This product mitigates unplanned downtime risks and enhances power load sharing flexibility by serving as a reliable insulator between electrical contacts. This supply expanded ABB's footprint in the market, reinforcing its position in the industry.
- In April 2021, Siemens entered into an agreement with Extreme LTD to supply 8DJH 12, a distinctive medium-voltage gas insulated switchgear in Ukraine. This product meets expectations for availability, personal safety, maintenance-free operation, compact design, and environmental sustainability. The contract enabled Siemens to deliver an advanced solution tailored to customer needs in the market.
Gas insulated switchgear market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in ‘000 Units & USD Million from 2021 to 2032, for the following segments:
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Market, By Capacity, 2021 – 2032 (‘000 Units & USD Million)
- ≤ 38 kV
- > 38 kV to ≤ 72 kV
- > 72 kV to ≤ 150 kV
- > 150 kV
Market, By Voltage Level, 2021 – 2032 (‘000 Units & USD Million)
- Medium voltage
- Primary Distribution
- Secondary Distribution
- High voltage
Market, By Application, 2021 – 2032 (‘000 Units & USD Million)
- Transmission & distribution
- Manufacturing & processing
- Infrastructure & transportation
- Power generation
- Others
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
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