Gas Insulated Switchgear Market

According to a research report "Gas Insulated Switchgear Market by Installation (Indoor, Outdoor), Insulation Type (SF6, SF6 free), Voltage Rating, Configuration ( Hybrid, Isolated Phase, Integrated three phase, Compact GIS), End-User, and Region - Global Forecast to 2029" published by MarketsandMarkets, the global gas-insulated switchgear (GIS) market is expected to grow at a CAGR of 6.1%, by 2024 the value of the GIS market was estimated at around USD 24.93 billion and around USD 33.53 billion by 2029, marking a constant growth. This is attributed to the increase in strength across the power distribution infrastructure to meet the high demand for electricity, in addition to increasing investments into renewables and industrial production. In addition, the rapid growth in the deployment of high-voltage direct current (HVDC) systems will further boost market expansion during this period.

Browse 276 market data Tables and 70 Figures spread through 323 Pages and in-depth TOC on "Gas Insulated Switchgear Market by Installation (Indoor, Outdoor), Insulation Type (SF6, SF6 free), Voltage Rating, Configuration ( Hybrid, Isolated Phase, Integrated three phase, Compact GIS), End-User, and Region - Global Forecast to 2029"
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Outdoor segment, by installation, to occupy majority of gas insulated switchgear market share.

The outdoor gas-insulated switchgear (GIS) segment, under the category of installation, is expected to dominate the market in terms of share for the forecast period. Power consumption is on the rise, and that fuels expansion and modernization of power grids. These developments are increasing demand for outdoor GIS solutions. Outdoor GIS systems are mainly used in substations and switchyards. They are therefore best suited to applications where space constraints do not pose a problem for outdoor installation. Since outdoor GIS systems have widespread applications, outside hostile environmental conditions, they are likely to lead the market share as compared to indoor GIS systems.

Above 220 kV voltage segment, by voltage rating, to be largest market.

The above 220 kV voltage segment is likely to dominate the gas-insulated switchgear (GIS) market because of its critical role in high-voltage transmission networks supporting bulk power transfers across long distances. This voltage category, therefore, will be fundamental to the integration of renewable energy sources such as wind and solar farms into the power grid, which are often far from the consumption centers. The segment is driven by the increasing global focus on grid modernization to accommodate expanding electricity demand as well as deliver stability and reliability within the grid system. Governments and utilities all around the globe are investing in EHV and UHV transmission infrastructure in order to reduce losses and improve efficiency, especially in regions like Asia-Pacific and Europe wherein large-scale renewable projects are unfolding. The above-mentioned 220 kV GIS is offered with a compact design, low maintenance needs, and the ability to operate in hard environmental conditions. That is why it is widely demanded in industrial plant applications, substations, and inter-regional transmission of power. It is a combination of all these factors that has led to the segment's substantial market share.

Asia Pacific to emerge as the largest gas insulated switchgear market.

The Asia Pacific region is likely to become the largest market for GIS, on account of rapid urbanization and industrialization, besides significant investments in the energy infrastructure of countries like China, India, Japan, and South Korea. These countries are characterized by ever-increasing electricity demand due to fast-growing urban populations and strong industrial growth. The tendency of governments in the region to focus on strengthening the grid in terms of reliability and efficiency through efforts at grid modernization, including the deployment of GIS, focuses the projects towards reducing losses with transmission and also accommodating renewable energy integration. China has by itself made significant commitments to achieve carbon neutrality by 2060 and installing 1,200 GW of wind and solar capacity by 2030, which translates into a huge prospects of GIS in high-voltage applications. Similarly, the ongoing electrification of rural regions as well as India's aging power infrastructure further enhance the adoption of GIS. In addition, the vast population living in urban areas poses severe space issues, which makes GIS an ideal choice owing to its small size and low maintenance requirements. Favorable government policies, increasing investments in smart grid technologies, and development of high-speed rail networks and urban metro systems continue to add to the supremacy of the region in the GIS market.

Key players in the global gas insulated switchgear market include ABB (Switzerland), Hitachi Ltd. (Japan), Siemens (Germany), Schneider Electric (France), and Eaton (Ireland).

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