Utility Gas Insulated Medium Voltage Switchgear Market Forecasts to 2030 – Global Analysis By Voltage Range (Low Voltage (up to 1 kV), Medium Voltage (1 kV - 52 kV) and High Voltage (above 52 kV)), Insulation Type, Application, End User and By Geography

Utility Gas Insulated Medium Voltage Switchgear Market Forecasts to 2030 – Global Analysis By Voltage Range (Low Voltage (up to 1 kV), Medium Voltage (1 kV - 52 kV) and High Voltage (above 52 kV)), Insulation Type, Application, End User and By Geography

According to Stratistics MRC, the Global Utility Gas Insulated Medium Voltage Switchgear Market is accounted for $3.3 billion in 2023 and is expected to reach $6.5 billion by 2030 growing at a CAGR of 10.4% during the forecast period. Utility Gas Insulated Medium Voltage (MV) Switchgear is a compact, robust solution for reliable power distribution in medium voltage networks. Employing sulfur hexafluoride (SF6) gas as the insulating medium, it offers superior insulation properties, enabling compact designs and reducing environmental impact. With high reliability and maintenance-free operation, it ensures uninterrupted power supply even in harsh environments. Its modular design facilitates easy installation and expansion, providing flexibility for utility applications. Incorporating advanced monitoring and control systems, it enhances safety and operational efficiency. Utility Gas Insulated MV Switchgear is a trusted choice for utilities seeking dependable and efficient medium voltage distribution solutions.

Market Dynamics:

Driver:

Demand for reliable electricity distribution infrastructure

As utilities and industries prioritize uninterrupted power supply, gas-insulated switchgear (GIS) emerges as a preferred choice due to its compact design, enhanced reliability, and reduced maintenance requirements compared to air-insulated switchgear (AIS). The need for resilient electrical networks, particularly in urban and industrial settings, accelerates the adoption of GIS for medium voltage applications. This trend is further fueled by increasing urbanization, infrastructure development projects, and the integration of renewable energy sources, underscoring the critical role of GIS in ensuring reliable electricity distribution.

Restraint:

Complexity in installation and maintenance

The specialized expertise required for installation and ongoing maintenance increases operational costs and can deter potential buyers, especially in cost-sensitive markets. Complex installation procedures may result in project delays and higher implementation expenses, impacting the overall attractiveness of GIS solutions. Additionally, the need for skilled technicians for maintenance increases operational overheads and may limit adoption, particularly among smaller utilities and industries. Simplifying installation and maintenance procedures is crucial to overcoming these barriers and expanding the utility gas insulated medium voltage switchgear market.

Opportunity:

Increasing adoption of renewable energy sources

As renewable energy installations grow, there's a greater need for efficient grid integration and management, where utility gas insulated medium voltage switchgear offers advantages over traditional air-insulated switchgear (AIS). These systems facilitate the reliable and flexible distribution of power generated from renewable sources like solar and wind, ensuring grid stability and minimizing energy losses. Moreover, the compact design enables space-efficient installations, making it well-suited for accommodating renewable energy projects, thereby driving demand for utility GIS solutions in medium voltage applications.

Threat:

Growing regulations aimed at reducing greenhouse gas emissions

While utility gas-insulated medium voltage switchgear (GIS) technology itself offers environmental benefits by minimizing sulfur hexafluoride (SF6) emissions compared to air-insulated switchgear (AIS), stringent regulations may impose additional compliance requirements and higher costs on manufacturers. Increased regulatory scrutiny may also lead to greater scrutiny of SF6 usage, potentially raising concerns about its environmental impact and driving efforts to develop alternative insulation gases or switchgear technologies. These factors could increase production costs and limit market growth.

Covid-19 Impact

Lockdowns and restrictions slowed down manufacturing and construction activities, impacting demand. However, the market gradually rebounded as governments initiated stimulus packages, accelerating infrastructure projects to stimulate economic recovery. Moreover, the pandemic highlighted the importance of reliable and resilient electrical infrastructure, driving investments in modernization and automation, including insulated medium voltage switchgear. Additionally, the shift towards remote working and digitalization underscored the need for robust and intelligent switchgear solutions, further bolstering market growth despite initial setbacks.

The air-insulated switchgear (AIS) segment is expected to be the largest during the forecast period

The air-insulated switchgear (AIS) segment is estimated to have a lucrative growth, as they offers cost-effective solutions but occupies larger footprint and requires more maintenance compared to gas-insulated switchgear (GIS). However, growing concerns over space constraints, environmental regulations, and reliability are gradually shifting preferences towards GIS, stimulating market expansion. Air-insulated switchgear presents compact design, enhanced safety, and reduced maintenance, appealing particularly to urban and industrial applications progressively shaping market dynamics.

The transmission & distribution segment is expected to have the highest CAGR during the forecast period

The transmission & distribution segment is anticipated to witness the highest CAGR growth during the forecast period, as transmission & distribution networks expand to accommodate growing energy demand and integrate renewable sources, the need for reliable, compact, and efficient switchgear solutions intensifies. Insulated medium voltage switchgear, particularly gas-insulated variants, emerges as a preferred choice due to its space-saving design, superior reliability, and reduced maintenance requirements. This trend is expected to persist as utilities prioritize upgrading aging infrastructure and enhancing grid resilience.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to many countries in the Asia Pacific region which are investing in grid modernization projects to enhance the reliability and efficiency of their power networks. Additionally ongoing advancements in GIS technology, such as digitalization, IoT integration, and predictive maintenance capabilities, are enhancing the performance and reliability of medium voltage switchgear systems are boosting the market growth in this region.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to increasing concerns about the resilience of power infrastructure in the face of natural disasters, extreme weather events, and cyber threats are driving utilities to invest in GIS technology, which offers enhanced resistance to environmental hazards and improved system reliability. Moreover utilities in North America are focusing on enhancing energy efficiency and reducing greenhouse gas emissions. GIS technology offers lower energy losses compared to AIS, contributing to improved overall system efficiency.

Key players in the market

Some of the key players in the Utility Gas Insulated Medium Voltage Switchgear Market include Bulox Corporation, ABB, CG Power & Industrial Solutions Ltd, CAHORS, Lucy Group Ltd, HYOSUNG HEAVY INDUSTRIES, HD Hyundai Electric Co., Ltd, Eaton, Siemens, Ormazabal, NISSIN ELECTRIC Co., Ltd, Switchgear Company, Toshiba Infrastructure Systems & Solutions Corporation, Xiamen Huadian Switchgear Co., Ltd, Yueqing Liyond Electric Co., Ltd, and Schneider Electric

Key Developments:

In February 2024, Eaton introduces next-generation fuel tank isolation valve for hybrid electric vehicles, the gas engine in a hybrid vehicle does not operate continuously. As a result, hybrid fuel systems require special measures to address evaporative emissions that accumulate when the gas engine is not in operation.

In February 2024, ABB to acquire SEAM Group to expand electrification service offering, the acquisition will complement ABB’s Electrification Service offering, bringing significant additional expertise to customers in the areas of predictive, preventive, and corrective maintenance, electrical safety, renewables and asset management advisory services.

In January 2024, ABB and Norwegian Cruise Line Holdings expand long-term partnership, the agreement solidifies the strong partnership between the companies, paving the way to forward-looking collaboration in decarbonization and digitalization

Voltage Ranges Covered:
• Low Voltage (up to 1 kV)
• Medium Voltage (1 kV - 52 kV)
• High Voltage (above 52 kV)

Insulation Types Covered:
• Air-Insulated Switchgear (AIS)
• Gas-Insulated Switchgear (GIS)
• Hybrid Switchgear

Applications Covered:
• Transmission & Distribution
• Power Generation
• Infrastructure
• Other Applications

End Users Covered:
• Industrial
• Commercial
• Residential
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements