Gas Insulated Switchgear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global gas insulated switchgear market size reached US$ 25.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 38.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028.
A gas insulated switchgear (GIS) refers to a compact metal-enclosed cabinet, which consists of high-voltage components including circuit-breakers, relays, switches and disconnectors. It is insulated using sulfur hexafluoride that aids in vacuuming and circuit breaking in the electrical system. It facilitates energy transmission and the integration of power generation units to the grid, along with protecting the distribution mechanism by disengaging the system in case of adverse conditions. In comparison to the traditionally used air-insulated switchgear, GIS is more environment-friendly, reliable, adaptable and require lesser maintenance. They are generally installed on the extensions of roofs, offshore platforms and industrial
Gas Insulated Switchgear Market Trends:
The increasing implementation of smart grids and smart metering technology, along with escalating energy demand across the globe, represent as the key factors driving the growth of the market. Furthermore, owing to a wide range of benefits, such as safety, high reliability, small space requirement, low maintenance and environmental compatibility, GIS is gaining rapid preference in the market. Additionally, a significant increase in power consumption in developing countries due to numerous electrification projects is favoring the market growth. Various countries engaged in cross-border power transmission are utilizing GIS for the establishment of long transmission lines, distribution stations and sub-stations. Other factors, including rising investments in the transmission and distribution (T&D) infrastructure, the implementation of government policies for increasing the availability of clean energy, and growing focus on the renewable process of power generation, are projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global gas insulated switchgear market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, installation, technology, voltage and end-use sector.
Breakup by Type:
High Voltage GIS
Medium Voltage GIS
Low Voltage GIS
Breakup by Installation:
Indoor
Outdoor
Breakup by Technology:
Hybrid Switchgear
Integrated Three Phase
Compact Gas Insulated Switchgear
Breakup by Voltage:
< 38 kV
38 kV to 72 kV
73 kV to 150 kV
> 150 kV
Breakup by End-Use Sector:
Power Transmission
Power Distribution
Power Generation
Infrastructure and Transportation
Others
Breakup by Region:
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
North America
United States
Canada
Latin America
Brazil
Mexico
Argentina
Colombia
Chile
Peru
Others
Middle East and Africa
Turkey
Saudi Arabia
Iran
United Arab Emirates
Others
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being ABB, Alstom, Benchmarking, Bharat Heavy Electricals Limited, Eaton Corporation, General Electric Company, Hitachi, Larsen & Toubro, Meidensha, Mitsubishi Electric, Powell Industries, Schneider Electric, Siemens, Toshiba International Corporation, etc.
Key Questions Answered in This Report:
How has the global gas insulated switchgear market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global gas insulated switchgear market?
What is the breakup of the market based on the type?
What is the breakup of the market based on the installation?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the voltage?
What is the breakup of the market based on the end-use sector?
What are the key driving factors and challenges in the market?
What is the structure of the global gas insulated switchgear market and who are the key players?
What is the degree of competition in the market?
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