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Gas Insulated Switchgear Market Trends

Report ID: GMI1929
Published Date: Jul 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The gas insulated switchgear market was valued at USD 24 billion in 2023 and is projected to grow at 8.1% CAGR through 2032 driven by increasing urbanization and industrialization.

The high voltage rating segment is projected to surpass USD 31 billion by 2032 favored by the increasing demand for reliable and uninterrupted power supply.

Europe gas-insulated switchgear industry is projected to exceed USD 14.5 billion by 2032, owing to the increasing demand for reliable and efficient power distribution systems.

ABB, Chint Group, ELECTRIC&ELECTRONIC CO., LTD., Eaton, Fuji Electric Co., Ltd., GE, Hitachi Energy Ltd., and Hyundai Electric & Energy Systems Co., Ltd among others.