Global Gas Insulated Switchgear Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Gas Insulated Switchgear Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

A gas-insulated switchgear is a composite device encapsulated in a solid metal frame that houses different electrical devices such as circuit breakers, bus bars, transformers, earth switches, surge arrestors, etc. All these devices are immersed in sulfur hexafluoride gas (SF6) inside shielded compartments that are bordered by barrier devices.

Market Overview:

The latest research study on the global Gas Insulated Switchgear market finds that the global Gas Insulated Switchgear market reached a value of USD 21780.81 million in 2023. It’s expected that the market will achieve USD 30649.1 million by 2029, exhibiting a CAGR of 5.86% during the forecast period.

The COVID-19 pandemic has disrupted the gas-insulated switchgear (GIS) market in multiple ways. Supply chain disruptions, factory closures and logistical challenges have led to delays in production and project implementation. The development of gas-insulated switchgear was further delayed as manufacturers were unable to generate SF6 throughout the pandemic. The lack of SF6 will have a significant impact on any project currently underway involving the adoption of GIS. Reduced economic activity and uncertainty in many regions have temporarily slowed investment in power infrastructure projects due to weak discretionary spending and a slowdown in the industrial and commercial sectors. However, the pandemic has also highlighted the importance of a reliable power grid for remote work and essential services, likely driving future demand for GIS systems. Additionally, the crisis has prompted a renewed focus on digitization and remote monitoring, which may accelerate the adoption of smart GIS solutions in the post-pandemic environment.

Urbanization and infrastructure development

The expansion of urbanization and the simultaneous development of infrastructure are acting as primary catalysts propelling the growth of the gas insulated switchgear (GIS) market. With an increasing global population gravitating toward urban centers, there emerges an escalating requirement for robust and dependable electrical distribution systems to cater to the burgeoning needs of these expanding cities. Urban landscapes come with inherent spatial limitations, demanding electrical infrastructure solutions that are not only efficient but also space-saving. GIS systems emerge as the favored choice due to their streamlined design, effectively utilizing the limited urban real estate. Their compactness becomes pivotal in fulfilling the electricity demands of densely populated urban zones. Moreover, infrastructure development initiatives, encompassing the establishment of new commercial and residential structures, industrial complexes, and transportation networks, necessitate the installation of state-of-the-art electrical grids. GIS systems shine in this regard, as they are adept at managing high-voltage power distribution in these new developmental projects, guaranteeing a stable and uninterrupted power supply. In summation, urbanization and infrastructure development are acting as potent drivers of the GIS market by creating a substantial demand for electrical distribution solutions that are not only efficient and dependable but also tailored to fit the spatial constraints inherent to rapidly growing urban environments and contemporary infrastructure endeavors.

Region Overview:

In 2022, the share of the Gas Insulated Switchgear market in United States stood at 25.59%.

Company Overview:

Siemens is one of the major players operating in the Gas Insulated Switchgear market, holding a share of 12.64% in 2023.

Segmentation Overview:

Among different product types, Medium Voltage segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Utility Power Infrastructure segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Gas Insulated Switchgear market covered in Chapter 3:

Schneider Electric
Fuji Electric
Taikai
Pinggao Electric
ABB
CHEM
Hitachi Energy
HD Hyundai Electric
Toshiba
Mitsubishi
China XD Group
GE Grid Solutions
Hyosung Heavy Industries
Nissin Electric
CG Power & Industrial Solutions
Siemens
Chint Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Gas Insulated Switchgear market from 2019 to 2030 is primarily split into:

Medium Voltage
High Voltage

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Gas Insulated Switchgear market from 2019 to 2030 covers:

Utility Power Infrastructure
Oil & Gas
Renewable Energy
Commercial
Other Applications

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)