Gas Insulated Switchgear Market Technological Advancements Expected To Boost Revenue Growth
Market Overview
The gas insulated switchgear market had moderate growth. During 2023-2030 the market will grow at a CAGR of around 9.8%. Due to the pandemic covid 19, the market is continuously under tracking and evaluation of direct as well as the indirect influence of the lockdowns and shutdowns on the different end-use industries.
The gas-insulated switchgear refers to a compact metal closed cabinet, which consists of high voltage components that include circuit breakers, disconnectors and relay switches.
In order to clean and break circuits in an electric system, sulphur hexafluoride is used to insulate these. By protecting the distribution mechanism by disengaging the system in the event of unfavourable conditions, it aids in energy transmission and integration of power generation to the grid. GIS is more dependable, eco-friendly, versatile, and maintenance-free than any other air-insulated switchgear.
These are installed in the extension of roofs, industrial plants and offshore platforms. There are a few main key players who operates the market in the competitive landscape. ABB, Alstom, Benchmarking, Bharat heavy electricals, Eaton corporation, general electric company, Hitachi, Larsen and Turbo, Mitsubishi electrical, Powell Industries, Siemens, Toshiba International etc.
Key Players:
- Hitachi Energy, GE, (Switzerland)
- Siemens Energy (Germany)
- Schneider Electric (France)
- General Electric (US)
- Eaton Corporation (Ireland)
- Mitsubishi Electric (Japan)
- Hyundai Electric & Energy Systems (South Korea)
- Larsen & Toubro (India)
- Crompton Greaves (India)
- Hyosung Heavy Industries Corporation (Hong Kong)
- Toshiba Energy Systems & Solutions Corporation (Japan)
- CHINT Electric (Germany)
- Powell Industries (Texas)
- Meidensha Corporation (Japan)
- Nissin Electric Co., Ltd (Japan)
Market segmentation
The gas-insulated switchgear market is segmented under the following components as
By Type:
- High Voltage GIS
- Medium Voltage GIS
- Low Voltage GIS
By Installation:
- Indoor
- Outdoor
By Technology:
- Hybrid Switchgear
- Integrated Three Phase
- Compact Gas Insulated Switchgear
By Voltage:
- <38 kV
- 38 kV to 72 kV
- 73 kV to 150 kV
- >150kV
By End-Use Sector:
- Power Transmission
- Power Distribution
- Power Generation
- Infrastructure and Transportation
- Others
By Region
- The Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- the United Kingdom
- Italy
- Spain
- Russia
- Others
- North America
- the United States
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Others
- The Middle East and Africa
- Turkey
- Saudi Arabia
- Iran
- The United Arab Emirates
- Others
Regional analysis
- Europe is the region that will hold the dominant gas-insulated switchgear market share geographically on the basis of increasing power consumption, upgradation of hydropower plants and the government initiatives that were taken for improving grid infrastructure.
- The increase in investments in the expansion of distribution and transmission networks will help Asia pacific hold a notable share.
- North America will have significant growth on the basis of investments made for the enhancement of transmission, distribution, and overall performance of the generation of electric power for avoiding losses.
- The middle east and African market will rise tremendously on the basis of the dominance of oil and gas plants that emphasizes the development of distribution and transmission of electric power.
Industry news
- According to market research, HV Switchgear market will be approaching $28.8bn by 2026
- The outdoor GIS market Size is expected to grow well at CAGR ABB, Siemens.
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