New York, NY, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Gas Insulated Switchgear Market Share, Size, Trends, Industry Analysis Report, By Installations (Indoor, Outdoor); By Insulation (SF6, SF6 Free); By Voltage Ratings; By Configuration; By End-Use; By Region; Segment Forecast, 2022 - 2030” in its research database.
According to the research report, the global gas insulated switchgear (GIS) market size & share was valued at USD 21.85 Billion in 2021 and is expected to reach USD 38.50 Billion by 2030, growing at a CAGR of 6.7% during the forecast period.
What is Gas Insulated Switchgear (GIS)? How Big is Gas Insulated Switchgear (GIS) Market Share?
- Report Overview
Gas insulated switchgear is a composite unit enclosed in a strong metal frame that includes high-voltage components such as bus bars, transformers, circuit breakers, earth switches, surge arrestors, etc. Gas Insulated Switchgear is mainly used to perform operations like switching, separating, transforming, measuring, and distributing electrical energy in power systems.
GIS is employed in places with limited areas, such as in city buildings, on roofs, offshore platforms, industrial facilities, and hydroelectric plants. GIS is physically rather smaller, and it requires minimal maintenance. Factors including increasing energy demand across industrial, commercial, and residential sectors and the growing energy infrastructure are driving the gas insulated switchgear market demand. Also, the rising use of renewable energy-based power plants is another key factor boosting industry growth.
Request Sample Copy of Gas Insulated Switchgear (GIS) Market Research Report @ https://www.polarismarketresearch.com/industry-analysis/gas-insulated-switchgear-market/request-for-sample
(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report May Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Key Offerings of This Report
- Market size and share assessment for regional and country-level segments.
- Business opportunities, drivers, and success factors.
- Current trends and the future potential of the market.
- Market segment analysis by types, applications, and regions.
- The competitive status of key players within the project timeline.
- Value chain analysis with price analysis and market forecast.
- Region-specific growth and development in the market.
Some of the Top Market Players Are:
- ABB
- Alstom
- Bharat Heavy Electricals Limited
- CG Power
- Eaton Corporation
- Fuji Electric
- General Electric Company
- Hitachi
- Hyosung
- Hyundai Electric & Energy Systems Co. Ltd.
- Larsen & Turbo
- Meidensha
- Mitsubishi Electric
- Nisin Electric
- Ormazabal
- Powell Industries
- Schneider Electric
- Siemens
- Toshiba Energy Systems & Solutions Corporation
For Additional Information on Key Players, Download a PDF Brochure: https://www.polarismarketresearch.com/industry-analysis/gas-insulated-switchgear-market/request-for-sample
Market Dynamics
Key Growth Driving Factors
- Growing urbanization to drive the market growth
Rapid urbanization and increasing integration of IoT for home and smart building automation are leading to more energy consumption. Thus, analyzing and optimizing energy usage for automation purposes is essential, which is estimated to propel the gas insulated switchgear market size. In order to reduce energy consumption, solar panel installation and the use of renewable energy sources are further supporting gas insulated switchgear industry expansion. The advancement of grid networks which is expected to boost the installation of sophisticated electrical apparatus and controls, including gas insulated switchgear systems, is anticipated to drive the growth of the market.
- Rise in technological advancement is accelerating the industry expansion
Rising technological development such as artificial intelligence, advancement of electricity grid infrastructure, and increasing government initiatives to develop smart grid infrastructure are the key gas insulated switchgear market trends bolstering the industry growth.
Furthermore, a surge in investment in transmission and distribution networks to serve the growing demand for electricity is predicted to create growth opportunities in the gas insulated switchgear market. For instance, Saudi Arabia is making investments in the power sector to increase capacity and use renewable energy sources to provide electricity.
Request for a Discount on this Report Before Purchase @ https://www.polarismarketresearch.com/industry-analysis/gas-insulated-switchgear-market/request-for-discount-pricing
Segmental Analysis
- Outdoor segment dominated the market in 2021
Based on installations, the outdoor category witnessed the largest gas insulated switchgear market share in 2021 due to its increased use in applications such as power transmission, development of large power units, and transmission of ultra-high voltage power to various end-use industries. Further, the growing electricity demand has generated financial investments in distribution and transmission networks driving the segment’s growth.
- SF6 free segment is predicted to lead the market
SF6 free segment is anticipated to capture the largest market share owing to the growing demand for environment-friendly products in various commercial and industrial sectors. Also, escalating consumer understanding about the impairment caused by Sulphur hexafluoride has given rise to the development of reliable, efficient, and sustainable switchgear, which is projected to enhance segment growth.
- Power distribution utilities are estimated to register the highest revenue share in 2030
By end-use gas insulated switchgear market segmentation, the power distribution utility category is likely to be anticipated to account for the major revenue share during the foreseen period. This growth can be attributed to the growing population growth, increasing electricity consumption, as well as expanding government investment to distribute power in remote places that need development.
Inquire more about this report before purchase @ https://www.polarismarketresearch.com/industry-analysis/gas-insulated-switchgear-market/inquire-before-buying
(Inquire about a report quote OR available discount offers to the sales team before purchase.)
Gas Insulated Switchgear (GIS) Market: Report Scope
| Report Attribute | Details |
| Revenue forecast in 2030 | USD 38.50 Billion |
| Market size value in 2022 | USD 22.93 Billion |
| Expected CAGR Growth | 6.7% from 2022 - 2030 |
| Base Year | 2021 |
| Forecast Year | 2022 – 2030 |
| Top Market Players | ABB, Alstom, Bharat Heavy Electricals Limited, CG Power, Eaton Corporation, Fuji Electric, General Electric Company, Hitachi, Hyosung, Hyundai Electric & Energy Systems Co., Ltd., Larsen & Turbo, Meidensha, Mitsubishi Electric, Nisin Electric, Ormazabal, Powell Industries, Schneider Electric, Siemens, and Toshiba Energy Systems & Solutions Corporation. |
| Segments Covered | By Installations, By Insulation, By Voltage Ratings, By Configurations, By End-Use, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Regional Analysis
- Asia Pacific is expected to capture the fastest growth during the forecast period
In terms of geography, gas insulated switchgear market in Asia Pacific is likely to grow at the fastest rate over the anticipated period because, for gas insulated switchgear, Asia Pacific is the biggest region. Growing industrialization in the region’s countries, such as China, Japan, South Korea, and India, is one of the prominent factors supporting market growth. Furthermore, a surge in the number of investments in transmission and distribution projects over developing economies is also flourishing the market growth.
Browse the Detail Report “Gas Insulated Switchgear Market Share, Size, Trends, Industry Analysis Report, By Installations (Indoor, Outdoor); By Insulation (SF6, SF6 Free); By Voltage Ratings; By Configuration; By End-Use; By Region; Segment Forecast, 2022 - 2030” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/gas-insulated-switchgear-market
For Additional Information OR Media Enquiry, Please Mail At: sales@polarismarketresearch.com
Recent Developments
- In April 2022, ABB teamed together with Samsung electronics in order to create energy-saving and energy-management solutions. Under this agreement, consumers will have better device management, access to home automation technology, and the ability to transfer electrical loads.
Frequently Asked Questions
- Who are the crucial companies operating the market?
- What are the major industry norms influencing the development of the industry?
- Which is the most propelling country in the industry?
- Which application or product type will obtain progressive development possibilities during the forecast period?
- What is the expected growth rate of the market during the foreseen period?
- What are the key strategies adopted by companies in the impact market?
- What are the main findings of Porter’s five forces analysis and the SWOT analysis of the major companies in the market?
Polaris Market Research has segmented the gas insulated switchgear market report based on installations, insulation, voltage ratings, configurations, end-use, and region:
By Installations Outlook
- Indoor
- Outdoor
By Insulation Outlook
- SF6
- SF6 Free
By Voltage Rating Outlook
- Up To 36 KV
- 37 To 73 KV
- 74 To 220 KV
- Above 220 KV
By Configurations Outlook
- Hybrid
- Isolated Phase
- Integrated Three Phases
- Compact GIS
By End-Use Outlook
- Power Transmission Utilities
- Power Distribution Utilities
- Power Generation Utilities
- Railways & Metros
- Industries & OEM
- Commercial
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Browse More Related Reports:
- Ocean Power Market: https://www.polarismarketresearch.com/industry-analysis/ocean-power-market
- Condensing Unit Market: https://www.polarismarketresearch.com/industry-analysis/condensing-unit-market
- Energy Management Systems Market: https://www.polarismarketresearch.com/industry-analysis/pulse-ingredients-market
- Synchronous Condenser Market: https://www.polarismarketresearch.com/industry-analysis/synchronous-condenser-market
- Combined Heat and Power Market: https://www.polarismarketresearch.com/industry-analysis/combined-heat-power-market
About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
Contact:
Likhil G
30 Wall Street
8th Floor,
New York City, NY 10005,
United States
Phone: +1-929 297-9727
Email: sales@polarismarketresearch.com
Web: https://www.polarismarketresearch.com
