Gas Insulated Power Equipment
PUBLISHED: 2024 ID: SMRC26299
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Gas Insulated Power Equipment

Gas Insulated Power Equipment Market Forecasts to 2030 - Global Analysis By Type (Gas Insulated Switchgear (GIS), Gas Insulated Transmission Lines (GIL), Gas Insulated Circuit Breaker (GICB), Gas Insulated Transformer (GIT), Gas Insulated Busbars and Other Types), Installation, Voltage Rating, Application, End User and By Geography

4.4 (95 reviews)
4.4 (95 reviews)
Published: 2024 ID: SMRC26299

This report covers the impact of COVID-19 on this global market
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"According to Stratistics MRC, the Global Gas Insulated Power Equipment Market is accounted for $37.43 billion in 2024 and is expected to reach $78.77 billion by 2030 growing at a CAGR of 13.2% during the forecast period. Gas insulated power equipment refers to a type of electrical substation or switchgear system where the conductors and other active components are insulated by sulfur hexafluoride (SF6) gas. This gas acts as both an insulating medium and an arc-quenching agent, allowing for compact and efficient design. Gas insulated equipment offers advantages such as higher reliability, reduced maintenance requirements, and improved safety compared to conventional air-insulated alternatives.

According to the Powergrid Corporation of India, equipment such as gas insulated substations for the Thrissur-Pugalur HVDC line was supplied by factories in India as a part of the Make In India Program.

Market Dynamics: 

Driver: 

Rapid urbanization and industrialization

Rapid urbanization and industrialization drive the demand for reliable and efficient electricity distribution systems. Gas insulated power equipment, such as switchgear and transformers, offer compactness, safety, and high performance, making them ideal for densely populated urban areas and industrial settings. Their ability to withstand harsh environmental conditions and their lower maintenance requirements further contribute to their appeal. As urban populations grow and industrial activities expand, the need for such equipment increases, propelling the growth of the gas insulated power equipment market.

Restraint:

Limited adoption in rural areas

Rural areas often lack the necessary infrastructure and resources to support the installation and maintenance of such advanced equipment. Additionally, the lower population density in rural regions reduces the demand for electricity transmission and distribution systems, diminishing the market potential for gas insulated power equipment. Consequently, the market growth is hampered as rural areas remain underpenetrated, restricting the overall market reach and revenue generation opportunities.

Opportunity:

Rising investments in renewable energy

The increasing investments in renewable energy sources like wind and solar are driving the expansion of the gas insulated power equipment. This growth is fuelled by the need for efficient transmission and distribution infrastructure to support the integration of renewable energy into the grid. Gas insulated power equipment offers advantages such as compactness, high reliability, and reduced maintenance requirements, making it well-suited for accommodating the growing renewable energy capacity. As the demand for reliable and efficient energy transmission grows, so does the market for gas insulated power equipment.

Threat:

Concerns over SF6 gas

The main concerns over SF6 gas stem from its potent greenhouse gas properties, contributing significantly to global warming. Its long atmospheric lifespan and high global warming potential raise environmental and regulatory concerns, prompting efforts to find more sustainable alternatives. In the gas insulated power equipment market, reliance on SF6 hampers growth due to environmental regulations and increasing pressure to adopt eco-friendly solutions.

Covid-19 Impact

The gas insulated power equipment market experienced fluctuations due to covid-19. Initially, disruptions in supply chains and construction activities led to a slowdown. However, increased demand for reliable electricity infrastructure and the need for remote monitoring solutions boosted market growth. Additionally, the emphasis on renewable energy integration and grid modernization projects further drove market expansion, mitigating the pandemic's adverse effects to some extent.

The gas insulated busbars segment is expected to be the largest during the forecast period

The gas insulated busbars segment is estimated to have a lucrative growth. GIBs are a crucial component of high-voltage power transmission and distribution systems, offering compactness, safety, and reliability. By encapsulating conductors within a gas-insulated metal enclosure, GIBs minimize space requirements and reduce the risk of electrical faults. Their ability to handle high currents and voltages efficiently makes them indispensable in substations and industrial applications, contributing to improved power infrastructure performance and reliability. 

The commercial segment is expected to have the highest CAGR during the forecast period

The commercial segment is anticipated to witness the highest CAGR growth during the forecast period. Gas insulated power equipment, such as switchgear and transformers, finds extensive use in commercial applications due to its compact design and reliable performance. By encapsulating components within a gas-insulated metal enclosure, these systems offer enhanced safety and space-saving advantages, making them ideal for densely populated areas and urban environments. Additionally, their ability to withstand harsh environmental conditions makes them suitable for various commercial applications, ensuring stable and uninterrupted power supply.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period due to increasing energy demand, urbanization, and industrialization. Key players are investing in research and development to enhance product efficiency and reliability. China, Japan, and India are among the leading markets in the region due to extensive infrastructural development initiatives. The market is expected to witness continued expansion fuelled by ongoing technological advancements and government initiatives promoting clean energy.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to escalating demand for reliable power supply, grid modernization initiatives, and stringent environmental regulations. The region's strong focus on renewable energy integration and the replacement of aging infrastructure are also contributing to market growth. Key players are investing in research and development to offer innovative solutions, enhancing the competitiveness of the market in North America.

Key players in the market

Some of the key players profiled in the Gas Insulated Power Equipment Market include ABB Limited, Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Toshiba Corporation, Hitachi Limited, Hyundai Heavy Industries Corporation, Larsen & Toubro Limited (L&T), Fuji Electric Corporation, Nissin Electric Corporation, Arteche, Crompton Greaves Limited, Meidensha Corporation and Xi'an XD High Voltage Apparatus Corporation.

Key Developments:

In February 2024, ABB India inaugurated its new state-of-the-art factory in Nashik, doubling its Gas Insulated Switchgear (GIS) production capacity. This factory will manufacture primary and secondary GIS. It will serve customers across various industries including power distribution, smart cities, data centers, transport (metro, railways), tunnels, ports, highways and other infrastructural developments.

In March 2022, GE Renewable Energy’s Grid Solutions (NYSE-GE) unveiled the world’s first 420 kV, 63 kA g³ gas-insulated substation (GIS) circuit-breaker1 prototype. The development of GE’s 420 kV g3 circuit-breaker is a historical milestone for the power industry as it will allow utilities to accelerate the decarbonization of their electrical grids

Types Covered:
• Gas Insulated Switchgear (GIS)
• Gas Insulated Transmission Lines (GIL)
• Gas Insulated Circuit Breaker (GICB)
• Gas Insulated Transformer (GIT)
• Gas Insulated Busbars
• Other Types

Installations Covered:
• Indoor
• Outdoor

Voltage Ratings Covered:
• Medium Voltage (Up To 36 kV)
• High Voltage (36 kV - 150 kV)
• Extra High Voltage (Above 150 kV)

Applications Covered:
• High-Voltage Alternating Current (HVAC)
• High-Voltage Direct Current (HVDC)

End Users Covered:
• Power Utilities
• Industrial
• Commercial
• Residential
• Transportation
• Telecommunication Sector
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary   
     
2 Preface    
 2.1 Abstract   
 2.2 Stake Holders  
 2.3 Research Scope  
 2.4 Research Methodology 
  2.4.1 Data Mining 
  2.4.2 Data Analysis 
  2.4.3 Data Validation 
  2.4.4 Research Approach 
 2.5 Research Sources  
  2.5.1 Primary Research Sources
  2.5.2 Secondary Research Sources
  2.5.3 Assumptions 
     
3 Market Trend Analysis  
 3.1 Introduction  
 3.2 Drivers   
 3.3 Restraints  
 3.4 Opportunities  
 3.5 Threats   
 3.6 Application Analysis 
 3.7 End User Analysis  
 3.8 Emerging Markets  
 3.9 Impact of Covid-19  
     
4 Porters Five Force Analysis  
 4.1 Bargaining power of suppliers 
 4.2 Bargaining power of buyers 
 4.3 Threat of substitutes 
 4.4 Threat of new entrants 
 4.5 Competitive rivalry  
     
5 Global Gas Insulated Power Equipment Market, By Type
 5.1 Introduction  
 5.2 Gas Insulated Switchgear (GIS) 
 5.3 Gas Insulated Transmission Lines (GIL)
 5.4 Gas Insulated Circuit Breaker (GICB)
 5.5 Gas Insulated Transformer (GIT)
 5.6 Gas Insulated Busbars 
 5.7 Other Types  
     
6 Global Gas Insulated Power Equipment Market, By Installation
 6.1 Introduction  
 6.2 Indoor   
 6.3 Outdoor   
     
7 Global Gas Insulated Power Equipment Market, By Voltage Rating
 7.1 Introduction  
 7.2 Medium Voltage (Up To 36 kV) 
 7.3 High Voltage (36 kV - 150 kV) 
 7.4 Extra High Voltage (Above 150 kV)
     
8 Global Gas Insulated Power Equipment Market, By Application
 8.1 Introduction  
 8.2 High-Voltage Alternating Current (HVAC)
 8.3 High-Voltage Direct Current (HVDC)
     
9 Global Gas Insulated Power Equipment Market, By End User
 9.1 Introduction  
 9.2 Power Utilities  
 9.3 Industrial   
 9.4 Commercial  
 9.5 Residential  
 9.6 Transportation  
 9.7 Telecommunication Sector 
 9.8 Other End Users  
     
10 Global Gas Insulated Power Equipment Market, By Geography
 10.1 Introduction  
 10.2 North America  
  10.2.1 US  
  10.2.2 Canada  
  10.2.3 Mexico  
 10.3 Europe   
  10.3.1 Germany  
  10.3.2 UK  
  10.3.3 Italy  
  10.3.4 France  
  10.3.5 Spain  
  10.3.6 Rest of Europe 
 10.4 Asia Pacific  
  10.4.1 Japan  
  10.4.2 China  
  10.4.3 India  
  10.4.4 Australia  
  10.4.5 New Zealand 
  10.4.6 South Korea 
  10.4.7 Rest of Asia Pacific 
 10.5 South America  
  10.5.1 Argentina 
  10.5.2 Brazil  
  10.5.3 Chile  
  10.5.4 Rest of South America
 10.6 Middle East & Africa 
  10.6.1 Saudi Arabia 
  10.6.2 UAE  
  10.6.3 Qatar  
  10.6.4 South Africa 
  10.6.5 Rest of Middle East & Africa
     
11 Key Developments   
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
 11.2 Acquisitions & Mergers 
 11.3 New Product Launch 
 11.4 Expansions  
 11.5 Other Key Strategies 
     
12 Company Profiling   
 12.1 ABB Limited  
 12.2 Siemens AG  
 12.3 General Electric Company 
 12.4 Mitsubishi Electric Corporation
 12.5 Schneider Electric SE 
 12.6 Toshiba Corporation 
 12.7 Hitachi Limited  
 12.8 Hyundai Heavy Industries Corporation
 12.9 Larsen & Toubro Limited (L&T) 
 12.10 Fuji Electric Corporation 
 12.11 Nissin Electric Corporation 
 12.12 Arteche   
 12.13 Crompton Greaves Limited 
 12.14 Meidensha Corporation 
 12.15 Xi'an XD High Voltage Apparatus Corporation
     
List of Tables    
1 Global Gas Insulated Power Equipment Market Outlook, By Region (2022-2030) ($MN)
2 Global Gas Insulated Power Equipment Market Outlook, By Type (2022-2030) ($MN)
3 Global Gas Insulated Power Equipment Market Outlook, By Gas Insulated Switchgear (GIS) (2022-2030) ($MN)
4 Global Gas Insulated Power Equipment Market Outlook, By Gas Insulated Transmission Lines (GIL) (2022-2030) ($MN)
5 Global Gas Insulated Power Equipment Market Outlook, By Gas Insulated Circuit Breaker (GICB) (2022-2030) ($MN)
6 Global Gas Insulated Power Equipment Market Outlook, By Gas Insulated Transformer (GIT) (2022-2030) ($MN)
7 Global Gas Insulated Power Equipment Market Outlook, By Gas Insulated Busbars (2022-2030) ($MN)
8 Global Gas Insulated Power Equipment Market Outlook, By Other Types (2022-2030) ($MN)
9 Global Gas Insulated Power Equipment Market Outlook, By Installation (2022-2030) ($MN)
10 Global Gas Insulated Power Equipment Market Outlook, By Indoor (2022-2030) ($MN)
11 Global Gas Insulated Power Equipment Market Outlook, By Outdoor (2022-2030) ($MN)
12 Global Gas Insulated Power Equipment Market Outlook, By Voltage Rating (2022-2030) ($MN)
13 Global Gas Insulated Power Equipment Market Outlook, By Medium Voltage (Up To 36 kV) (2022-2030) ($MN)
14 Global Gas Insulated Power Equipment Market Outlook, By High Voltage (36 kV - 150 kV) (2022-2030) ($MN)
15 Global Gas Insulated Power Equipment Market Outlook, By Extra High Voltage (Above 150 kV) (2022-2030) ($MN)
16 Global Gas Insulated Power Equipment Market Outlook, By Application (2022-2030) ($MN)
17 Global Gas Insulated Power Equipment Market Outlook, By High-Voltage Alternating Current (HVAC) (2022-2030) ($MN)
18 Global Gas Insulated Power Equipment Market Outlook, By High-Voltage Direct Current (HVDC) (2022-2030) ($MN)
19 Global Gas Insulated Power Equipment Market Outlook, By End User (2022-2030) ($MN)
20 Global Gas Insulated Power Equipment Market Outlook, By Power Utilities (2022-2030) ($MN)
21 Global Gas Insulated Power Equipment Market Outlook, By Industrial (2022-2030) ($MN)
22 Global Gas Insulated Power Equipment Market Outlook, By Commercial (2022-2030) ($MN)
23 Global Gas Insulated Power Equipment Market Outlook, By Residential (2022-2030) ($MN)
24 Global Gas Insulated Power Equipment Market Outlook, By Transportation (2022-2030) ($MN)
25 Global Gas Insulated Power Equipment Market Outlook, By Telecommunication Sector (2022-2030) ($MN)
26 Global Gas Insulated Power Equipment Market Outlook, By Other End Users (2022-2030) ($MN)
     
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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