Dublin, April 11, 2024 (GLOBE NEWSWIRE) -- The "Gas Insulated Switchgears - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Gas Insulated Switchgears Market to Reach $39.3 Billion by 2030
The global market for Gas Insulated Switchgears estimated at US$21.9 Billion in the year 2023, is projected to reach a revised size of US$39.3 Billion by 2030, growing at a CAGR of 7.6% over the analysis period 2023-2030.
Technological advancements in the switchgear market drive innovation and market prospects. Analysis by type showcases the percentage breakdown of sales for SF6 and SF6-Free GIS types, while installation analysis delineates outdoor versus indoor installations. End-use analysis highlights applications in power transmission, generation, distribution utilities, railways, industries, and commercial sectors.
SF6 Gas Insulated Switchgears, one of the segments analyzed in the report, is projected to record 6% CAGR and reach US$20.8 Billion by the end of the analysis period. Growth in the SF6-Free Gas Insulated Switchgears segment is estimated at 9.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $4 Billion, While China is Forecast to Grow at 9.1% CAGR
Regionally, the GIS market reflects varied growth rates, with China, Asia-Pacific, and other regions ranked by CAGR. The Asian GIS market, led by China and India, underscores rising electricity demand, with gross demand changes forecasted until 2050.
The Gas Insulated Switchgears market in the U.S. is estimated at US$4 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$10 Billion by the year 2030 trailing a CAGR of 9.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.4% and 6.4% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR.
Gas insulated switchgears, known for their advantages and disadvantages, are categorized by voltage and governed by specific agencies. Recent market activity indicates ongoing developments and strategies by global brands to capitalize on emerging opportunities in the GIS market.
MARKET OVERVIEW
- Global Energy Market Growth Outlook (In %) for Years 2019 through 2025
- Opportunities for the Power & Energy Sector in the Post-Pandemic Era
- Competitive Scenario
- Gas Insulated Switchgears - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Select Technological Advancements in the Switchgear Market
- Global Market Prospects & Outlook
- Analysis by Type
- World Gas Insulated Switchgears Market by Type (2024 & 2030): Percentage Breakdown of Sales for SF6, and SF6-Free
- Analysis by Installation
- World Gas Insulated Switchgears Market by Installation (2024 & 2030): Percentage Breakdown of Sales for Outdoor, and Indoor
- Analysis by End-Use
- World Gas Insulated Switchgears Market by End-Use (2024 & 2030): Percentage Breakdown of Sales for Power Transmission Utility, Power Generation Utility, Power Distribution Utility, Railways & Metros, Industries & OEM, and Commercial
- Regional Analysis
- World Gas Insulated Switchgears Market by Region (2024 & 2030): Percentage Breakdown of Sales for Developed and Developing Regions
- World Gas Insulated Switchgears Market - Geographic Regions Ranked by CAGR (Sales) for 2020-2027: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Canada, Europe, and Japan
- Brief Overview of the Asian GIS Market
- China and India Lead the Global Rise in Demand for Electricity: Change in Gross Electricity Demand in TWh for 2017-2050
- An Introduction to Gas Insulated Switchgears
- The Significance, Advantages, and Disadvantages of Switchgear
- Key Reasons in Consideration of Gas Insulated Switchgears
- GIS Categorization by Voltage
- Gas Insulated Switchgear: Governing Agencies
- Recent Market Activity
- Select Global Brands
MARKET TRENDS & DRIVERS
- Gas Insulated Switchgear: Making Perfect Sense with Intriguing Benefits
- Power & Energy: The Largest Application Market for SF6
- Popularity Soars as Gas Insulated Switchgears Provide Unmatched Benefits
- New Emerging Technologies with Improved Environmental Profile to Enter Market
- GIS Market to Benefit from Opportunities for HVDC Technology Adoption
- Gas Insulated Switchgear: Future Progress
- Gas Insulated Switchgears Usage in Power Utility Market Increases
- Pandemic's Impact on Utilities Affects Demand for SF6 GIS
- Influx of Advanced Gas Insulated Switchgear for Industrial & Utility Applications
- Gas Insulated Versus Air Insulated Switchgear for Medium-Voltage Applications
- Power Grid Modernization Implies Upgrades in Policy Regimes & Infrastructure
- The Ever Growing Need for Increase in Power T&D Efficiency Bodes Well for the Market
- Global Investments into Power T&D Infrastructure by Region (in %) for 2020 and 2040
- GIS Relevance in Renewable Energy Based Power Projects
- Targets for Electricity Production from Renewable Energy Sources in Select Countries
- Increasing Focus on Renewable Energy Production to Drive Market Growth
- Wind Farms to Stimulate Demand for Medium Voltage GIS
- Energy Infrastructure Investments to Elevate Demand for GIS
- Rising Investments in Expansion of Transmission and Distribution Networks to Drive Growth
- Electricity Demand Patterns to Drive Growth
- Projected Global Demand for Electricity (MWh): 2015, 2025, & 2035
- Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
- Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
- Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India, Latin America, and North America over the Period 2010-2030
- Rising Adoption of Electric Vehicles to Boost Demand for Gas Insulated Switchgears
- Rapid Urbanization: A Mega Growth Driver for Gas Insulated Switchgears
- World Population (in Thousands) by Geographic Region for the Years 2018, 2025, 2040, 2050
- World Urban Population in Million and as Percentage of Total Population for the Period 1950-2050
- World Population Urbanization Rate (%) by Region/Country: 2016 & 2040
- Rising Investments in Smart Grids Bodes Well
- Global Smart Grid Revenues in US$ Million for the Years 2018, 2021 and 2024E
- Growing Prevalence of Smart City Projects to Accelerate Gas Insulated Switchgear Demand
- Distributed Generation Offers Opportunities
- World Distributed Generation Market by Geographic Region (2024 & 2030) - Annual Revenues in US$ Million for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa
- Market Restraints: Environmental Concerns and High Equipment Costs
- Gas Insulated Switchgear Manufacturers Face Rigorous Safety and Environmental Regulations
- GIS market to Suffer as Grid Expansion Projects Face Delays
FOCUS ON SELECT PLAYERS (Total 81 Featured)
- ABB Ltd.
- Eaton Corporation PLC
- Allis Electric Co., Ltd.
- Chung-Hsin Electric and Machinery Manufacturing Corp. (CHEM)
- AZZ, Inc.
- BGR Energy Systems Ltd.
- Bowers Electricals Ltd.
- Emirates Transformer & Switchgear Ltd.
- BRUSH Switchgear
- C&S Electric Ltd.
- Chint Group
- Elektrofabriken I Malmo AB
- CG Power and Industrial Solutions Ltd.
- Daqo Group Co., Ltd.
- Beijing Sojo Electric
For more information about this report visit https://www.researchandmarkets.com/r/6utnox
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
