According to the latest report by IMARC Group “Gas Insulated Switchgear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global gas insulated switchgear market size reached US$ 23.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 35.6 Billion by 2027, exhibiting a growth rate (CAGR) of 7.4% during 2022-2027.
Gas insulated switchgear (GIS) is a high-voltage device that covers compact metal constructions that include components such as disconnectors, circuit breakers, switches, and relays. It isolates, controls, vacuums, and protects electrical equipment during adverse conditions by using an insulating material such as sulfur hexafluoride (SF6). GIS is more versatile, reliable, environmentally friendly, cost-effective, and requires less maintenance than air-insulated switchgear. As a result, it is usually seen on the extensions of industrial plants, structures, and offshore platforms.
Market Trends:
The rapid growth of smart grids and increased government investments in renewable energy systems to minimize carbon emissions are important drivers of the worldwide GIS industry. Rising urbanization and industrialization have increased global electricity consumption, boosting market expansion even further. Furthermore, there has been an increase in the use of GIS to construct efficient distribution channels and transmission lines in a number of emerging economies, which is serving as a growth-inducing force.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- 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
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The report has segmented the market on the basis of Product Type, End-User and Region.
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
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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