HV Gas Insulated Switchgear Market
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The global HV gas insulated switchgear market was valued at USD 17 billion in 2024 and is estimated to grow at a CAGR 7.7% from 2025 to 2034, driven by advancements in technology, rising energy demands, and increasing focus on sustainable and efficient power distribution. Such switchgears are benefiting from the increasing concern for the environment and are preferred for a number of uses with great reliability and safety. Several countries have begun adopting stronger policies and are promoting green technologies which increases the requirement for HV gas insulated solutions.
Urbanization and industrial activities are also pushing for enhanced HV gas insulated switchgear systems. The construction boom in several underdeveloped economies in the Asia-pacific regions as well as Africa have triggered a need for effective power distribution systems to support these developments. Furthermore, in developed areas, there is a growing requirement for modernization of the existing power grids alongside integration of renewable solar and wind energy which fuels the need for HV gas insulated switchgear systems. This ensures the stable operation of energy grids in regions with heavy power demand fluctuations.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| HV Gas Insulated Switchgear Market size in 2024: | USD 17 Billion |
| Forecast Period: | 2025 - 2034 |
| Forecast Period 2023 - 2032 CAGR: | 7.7 |
| 2023 Value Projection: | USD 35.9 Billion |
| Historical Data for: | 2021 - 2024 |
| No of Pages: | 100 |
| Tables, Charts & Figures: | 20 |
| Segments Covered: | Capacity, Application |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The market for HV gas insulated switchgear (VIS) is showing new developments and growth trends due to the global shift towards sustainable and efficient power distribution systems. One of the leading trends is the growing use of greener technologies. It is expected that the HV gas insulated switchgear will start dominating the gas insulated switchgear market, as it does away with the use of sulfur hexafluoride gas insulated transformers, SVSF6, which are high emitters of greenhouse gas. Stricter emission control measures put in place by governments and environmental agencies are pushing towards the use of gas technology HV’s environmental impacts are significantly less.
Furthermore, the growth trend of urbanization and limited availability of land is acting as a catalyst to the demand for small sized and high reliability switchgear systems. HV Gas insulated switchgear is expected to be more compact and efficient, especially in urban substations, industrial plants, and high-density residential buildings. These regions, which are currently undergoing infrastructure expansion, also prefer minimal space without performance issues.
The 145 kV HV gas insulated switchgears is expected to grow more than USD 13.3 billion by 2034 due to the increasing need associated with the effective power transmission infrastructure systems. Based on capability, A 145 KVA segment is expected to increase significantly because of the efficient and cost-effective systems. Moreover, the 145KVA switchgears are increasingly deployed for spatially constrained but high-performance electrical systems in urban and industrial applications. This growth is primarily driven by the increase in renewable energy projects, as these green energy sources need to be connected to existing grids.
It is assumed that by 2034 offshore wind application of the HV gas insulated switchgear market will register a CAGR of above 18.1%, due to the continued investments in renewable energy infrastructures and the global focus on achieving cleaner sources of energy. Wind offshore farms are major power suppliers to the global renewable energy mix and governments across the world are applying these projects to achieve climate goals. The efficiency and energy output of offshore wind farms versus the onshore ones are the primary drivers of growth for the offshore wind segment. Offshore installations benefit from stronger and more consistent wind patterns, resulting in increased power generation capacity.
The U.S. high voltage gas insulated switchgear market is forecasted to cross USD 4.3 billion by 2034, due to on account of the maintenance of an investment in grid modernization, expansion of renewable energy projects, and the need for robust power transmission systems. Much effort in investment is focused on improving and expanding the aging power grid of the country. Gains in the energy security and sustainability of the U.S. will benefit all the industries. In the construction boom Gas Insulated Switchgear plays an increasingly important role in urban environments, where environmental and spatial factors dictate design choices.
Asia Pacific region is invaluable to the HV gas insulated switchgear market owing to its swift modernization, increase in infrastructural facilities, and the gas insulated switchgear market growth. There is a notable escalation of population, which causes a stretch of economic growth, all leading to an increase in electricity demand. In order to satisfy these power transmission and distribution system requirements, the gas insulated switchgear is compact and highly effective. Thus, these systems are gaining prominence.
Major companies like Hitachi, General Electric and Siemens command a considerable segment of the market for high voltage gas insulated switchgear due to their sophisticated technological knowhow, broad range of products and global presence. These companies spend a huge amount of money on research and development which results in the advancement of intelligent and digital switchgear systems for grids that are more robust and dependable.
Major players operating in the HV gas insulated switchgear industry are:
Market, By Capacity
Market, By Application
The above information has been provided for the following countries across the region:
The 145 kV segment is anticipated to surpass USD 13.3 billion by 2034 due to the increasing demand for reliable and efficient power transmission infrastructure.
The U.S. market is expected to reach USD 4.3 billion by 2034 owing to ongoing investments in grid modernization, the expansion of renewable energy projects, and the need for reliable and efficient power transmission infrastructure.
The key players in the industry 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.
The market size of HV gas insulated switchgear reached USD 17 billion in 2024 and is set to grow at a 7.7% CAGR from 2025 to 2034, driven by advancements in technology, rising energy demands, and increasing focus on sustainable and efficient power distribution.