IMARC Group, a leading market research company, has released a report titled “Gas Insulated Switchgear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global gas insulated switchgear market size reached US$ 25.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 38.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028.
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.
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Gas Insulated Switchgear Market Trends and Drivers:
The rapid development of smart grids and increasing investments in renewable energy systems by governments of various nations to reduce carbon emissions are majorly driving the global GIS market. Rising urbanization and industrialization have led to an increase in global power consumption, which is further propelling market growth. Additionally, there has been an increase in the utilization of GIS to establish efficient distribution channels and transmission lines in numerous emerging economies, which is acting as another growth-inducing factor.
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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