According to the latest report by IMARC Group, titled “Gas Insulated Switchgear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global gas insulated switchgear market reached a value of US$
23.1 Billion in 2021. 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.
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.
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
7.4% during 2022-2027.
- 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.
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