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

Utility Gas Insulated Medium Voltage Switchgear Market Size

Utility Gas Insulated Medium Voltage Switchgear Market was valued at USD 3.3 billion in 2023 and is set to grow at a CAGR of 8.4% between 2024 and 2032. Increasing urbanization and industrialization coupled with the rising demand for reliable & efficient power distribution systems will cater to the industry expansion. In addition, the growing need for modernization and upgrading of aging infrastructure, primarily across the emerging economies will add to the business growth.
 

Increasing global electricity consumption is set to drive the demand for dependable protection devices, including medium voltage (MV) switchgears. Additionally, the expanding commercial and industrial sectors will contribute to the demand for efficient electricity supply, thereby fostering the need for utility MV switchgears across the globe.
 

COVID–19 Impact

The COVID-19 pandemic initially disrupted the utility gas insulated medium voltage switchgear market on account of the supply chain challenges and project delays. Short-term uncertainties led various utilities to postpone capital expenditures limiting the investments across new ventures. However, the crisis has resulted in new initiatives including digitalization and remote monitoring, emphasizing the need for resilient energy infrastructure. As the industry adjusts to the new normal, there is a growing focus on smart grids and reliable power distribution systems, driving future investments in advanced switchgear technologies, thereby stimulating the industry landscape.
 

Utility Gas Insulated Medium Voltage Switchgear Market Trends

The utility gas insulated medium voltage switchgear industry is set to observe significant growth owing to the increasing integration of renewable energy sources into power grids along with growing concerns to ensure efficient and reliable energy distribution. Smart grid initiatives and the rising focus on digitalization have led to the adoption of intelligent and remotely monitored switchgear solutions. Additionally, a surge in urbanization and industrialization is propelling the modernization of electrical infrastructure, further boosting the deployment of utility gas insulated medium voltage switchgear with enhanced safety features and improved performance.
 

Utility Gas Insulated Medium Voltage Switchgear Market Analysis

The switchgear with a rating of ≥ 21 kV to 27 kV is poised for substantial market penetration growth, projecting a CAGR of over 8.5% through 2032. As demand for reliable and efficient electrical distribution solutions rises, utilities are increasingly turning to gas insulated switchgear (GIS) for its compact design, enhanced safety features, and superior insulation properties. The voltage range spanning from ≥ 21 kV to 27 kV holds significant importance for medium voltage applications within urban and industrial environments. In these settings, where space limitations and environmental concerns demand compact and high-performing solutions, the market dynamics are notably influenced.
 

Based on component, the utility gas insulated medium voltage switchgear market can be majorly distributed into switches & disconnector, contactors, circuit breakers, fuses, and others. The circuit breakers segment dominated 52.5% of the market share in 2023. The devices play a pivotal role in ensuring the safety and reliability of electrical distribution systems. The heightened demand for improved grid stability, minimized downtime, and efficient fault-clearing mechanisms has led to a significant upliftment in the adoption of gas insulated medium voltage switchgear equipped with advanced circuit breakers. This trend is particularly pronounced in essential sectors such as transmission, power generation, and substation installations.
 

Asia Pacific utility gas insulated medium voltage switchgear market size surpassed USD 2.4 billion by 2032.  Increasing demand for reliable and efficient electricity distribution infrastructure, fueled by rapid urbanization and industrialization in the region will propel the industry growth. Gas-insulated switchgear offers advantages such as compact design, enhanced safety, and reduced maintenance requirements, making it an attractive choice for utilities seeking modern and reliable solutions. Government initiatives and policies supporting smart grid development and grid reliability will likely further propel the Asia Pacific switchgear industry.
 

Moreover, the increasing focus on incorporating renewable energy sources and the imperative to modernize aging infrastructure are additional driving forces behind the he Asia Pacific market growth. As per IRENA, in 2022, Asia played a dominant role on the global stage in the adoption of new renewable energy capacity, contributing approximately 60% of the total newly installed capacity, which amounted to an impressive 174.9 gigawatts (GW). This surge in renewable energy installations underscores the region's commitment to sustainable energy practices and reinforces the demand for advanced and efficient grid technologies including gas insulated switchgear.
 

Utility Gas Insulated Medium Voltage Switchgear Market Share

ABB has solidified its dominance in the utility gas insulated medium voltage switchgear industry through its innovative technologies and unwavering commitment to quality. Leveraging advanced engineering, ABB's switchgear solutions offer unparalleled reliability and efficiency in managing electrical distribution networks. The company's comprehensive portfolio caters to the evolving needs of utility providers, ensuring seamless operations and enhanced grid performance. ABB's continuous investment in research and development has enabled the introduction of cutting-edge features, solidifying its reputation as a market leader. With a global presence and a track record of successful installations, ABB remains at the forefront, setting benchmarks for excellence in the gas insulated switchgear domain.
 

Utility Gas Insulated Medium Voltage Switchgear Market Companies

Some of the major key players operating across the industry are:

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

Utility Gas Insulated Medium Voltage Switchgear Industry News

• In October 2022, Schneider Electric introduced a novel series of primary GIS switchgear named AirSeT, designed for the distribution of clean electricity. This innovative product is geared towards supporting both industrial and grid decarbonization efforts, providing distinct maintenance and operational benefits through advanced digital features. Schneider Electric's medium voltage technology encompasses a comprehensive array of data-driven functionalities, enabling real-time monitoring of the performance of electrical distribution applications. Furthermore, it facilitates predictive and preventive condition-based maintenance. This strategic product launch marks an expansion of Schneider Electric's portfolio within the medium voltage switchgear segment, reinforcing its commitment to cutting-edge solutions.
   
• In May 2020, Siemens broadened its environmentally friendly gas insulated switchgear (GIS) product range up to 24 kV with the introduction of the innovative NXPLUS C 24 MV switchgear, distinguished by its absence of fluorine gas. This expansion utilizes clean air technology in conjunction with vacuum switching technology, eliminating the need for fluorine-based gas mixtures and promoting climate-neutral energy distribution. The new switchgear is not only eco-friendly but also incorporates digital features, ensuring reliable, secure, and cost-efficient operations. This strategic enhancement aligns with Siemens' commitment to advancing sustainable solutions in the field of medium voltage switchgear.
   

This utility 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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Market, 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

Market, By Component

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

Market, By End Use

• Power Stations
• Transformer Substations
• Local Electricity Supply
• 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