Global Gas Insulated Switchgear Market to Grow at 7.1% During 2023-2028, Supported by Rapid Deployment of Smart Grids

August 04, 2021 | Heavy Industry

According to the latest report by IMARC Group, titled “Gas Insulated Switchgear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global gas insulated switchgear market reached a value of US$ 25.1 Billion in 2022. Gas insulated switchgear (GIS) refers to a high-voltage unit that encapsulates compact metal structures consisting of various components, such as disconnectors, circuit breakers, switches, and relays. It uses an insulating medium, like sulfur hexafluoride (SF6), to isolate, control, vacuum, and protect electrical equipment during adverse conditions. As compared to air-insulated switchgear, GIS is more flexible, reliable, environment-friendly, cost-effective, and requires less maintenance. Consequently, it is primarily installed on the extensions of industrial plants, buildings, and offshore platforms.

Global Gas Insulated Switchgear Market Trends:

The rapid deployment of smart grids and continuous investments in renewable energy systems to reduce carbon emissions are majorly driving the global GIS market growth. Thisis further supported by rising urbanization and industrialization, especially in the developing economies, which has led to a significant rise in global power consumption. Additionally, the increasing utilization of GIS to establish efficient distribution and transmission (T&D) channels in emerging economies is acting as another growth-inducing factor. Apart from this, the widespread adoption of technologically advanced switchgear, such as hybrid and integrated three-phase GIS for generating clean energy, is further creating a positive outlook for the market. Looking forward, the market is expected to grow at a CAGR of 7.1% during 2023-2028.

Market Summary:

Based on the type, the market has been divided into high, medium, and low voltage GIS.
On the basis of the installation, the market has been bifurcated into indoor and outdoor.
Based on the technology, the market has been segmented into hybrid, integrated three phase, and compact GIS.
On the basis of the voltage, the market has been segregated into < 38 kV, 38 kV to 72 kV, 73 kV to 150 kV, and > 150 kV.
Based on the end-use sector, the market has been classified into power transmission, distribution, generation, infrastructure and transportation, and others.
Region-wise, the market has been segmented into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru and others), and Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates and others).
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.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Type, Installation, Technology, Voltage, End-Use Sector, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Argentina, Colombia, Chile, Peru, Turkey, Saudi Arabia, Iran, United Arab Emirates
Companies Covered	ABB, Alstom, Benchmarking, Bharat Heavy Electricals Limited, Eaton Corporation, General Electric Company, Hitachi, Larsen & Toubro, Meidensha, Mitsubishi Electric, Powell Industries, Schneider Electric, Siemens and Toshiba International Corporation
Customization Scope	10% Free Customization
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Global Gas Insulated Switchgear Market to Grow at 7.1% During 2023-2028, Supported by Rapid Deployment of Smart Grids

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