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According to the latest report by IMARC Group, titled “Gas Insulated Switchgear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global gas insulated switchgear market exhibited moderate growth during 2015-2020. 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 around 6% during 2021-2026.
Market Summary:
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