Gas Insulated Power Equipment Market

Gas Insulated Power Equipment Market Forecasts to 2028 – Global Analysis By Type (Gas Insulated Transmission Lines, Gas Insulated Switchgear), Voltage (Medium Voltage, High Voltage), Installation, Application, End User, and By Geography

4.3 (79 reviews)
Published: March 2022 ID: SMRC18396
4.3 (79 reviews)
Published: March 2022 ID: SMRC18396

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Gas Insulated Power Equipment Market is accounted for $25.81 billion in 2021 and is expected to reach $53.58 billion by 2028 growing at a CAGR of 11.0% during the forecast period. Gas Insulated Power Equipment is the apparatus used for regulating, switching, and controlling on or off the electric circuit in the electricity system. The switchgear system is linked directly to the electricity supply system. It is integrated with both the low and high voltage area of the power transformer. Their transmission lines are the flexible and safe alternative when compared to overhead lines and occupy less space while offering the same electricity transmission

Market Dynamics:


Rising government initiatives in reducing carbon emissions

Renewable power generation has become significantly cheaper than diesel-fired generation, particularly in isolated areas with poor or even non-existent infrastructure. Due to this, there has been significant growth in the demand for distributed generation through renewable sources in the industrial and commercial sectors. According to the International Energy Agency (IEA), in 2018, the total electricity generated by renewable sources accounted for 25% of the global electricity generation. A gas-insulated switchgear is suitable for renewable power systems and substations that require greater capacity and performance, which need large current-carrying and high short-circuit capacity. It also includes all the devices that ensure power system protection and regulate power supply. Gas-insulated switchgears clear faults in the system, thereby ensuring a reliable power supply.


Stringent safety and environmental regulations

The gas-insulated switchgear can be expensive as compared to an air-insulated switchgear with similar specifications. The procurement cost increases in terms of initial outlay (CAPEX), manufacturing process, and use of expensive components, such as transformers, switching elements, and a circuit breaker, which has to be operated inside an enclosure filled with dielectric gas. In North America, land is easily available and at a low cost. Air-insulated substations are common in these countries except in areas with space constraints, or in cities with a high land cost. Private players rely on air-insulated switchgears to prevent technical complicacy and minimize the cost incurred in installing substations for their facilities.


Growing adoption of HVDC technology

Growing environmental concerns are prompting governments to invest in renewable energy-based power generation. Renewable power generation plants, including solar, wind (onshore and offshore), biomass, hydroelectric, and geothermal, are located in remote areas. To connect such remotely located power generation sources and minimize transmission losses, companies deploy HVDC systems. HVDC transmission is considered to be efficient for long-distance power transmissions. HVDC converter stations require high-voltage gas-insulated switchgears for their efficient operation. The integration of renewable power generation sources with HVDC transmission links is a growing trend in projects that are new or under development. These require constant and steady monitoring of the whole system to ensure minimum losses and protection against faults.


Delays in grid expansion projects

The delays in grid expansion projects make production planning very challenging for gas-insulated switchgear manufacturers, as most extra-high voltage switchgears are manufactured according to the personalized demands of the buyers. Designing and planning equipment for a power supply network requires a massive amount of data. Factors such as government interventions, environmental clearances, and lengthy governmental approval procedures result in delays in the implementation of grid expansion projects. For instance, 2 key German transmission lines that were designed to transport power from the wind-rich north to the consumption centers in the south are now delayed by a year and will resume in 2026 instead of 2025. These delays extend the time taken to implement the grid expansion projects and increases the procurement time of gas-insulated switchgears.

The high-voltage direct current (HVDC) segment is expected to be the largest during the forecast period

The high-voltage direct current (HVDC) segment is estimated to have a lucrative growth. The Gas Insulated Power Equipment is used in HVDC (High-Voltage Direct Current) for the transfer of bulk power from one point to another, such as between countries. It also covers both overhead and submarine cables, it generally refers to systems that use undersea cables. One of the important uses is to protect the converter stations from impulses and thus, prevent damage. It is also used to Maintain voltage stability when local loads vary.

The gas insulated transmission lines segment is expected to have the highest CAGR during the forecast period

The gas insulated transmission lines segment is anticipated to witness the fastest CAGR growth during the forecast period. The Gas Insulated Transmission line (GIL) has substantially been affected by regulatory shift toward reduction in transmission losses, enhanced transmission capacity and reliability of electricity grid network. Effective short-circuit withstand capability, low maintenance cost, minimal electrical ageing and non-flammable operational characteristics have positively swayed the product adoption. Furthermore, the manufacturers are allocating heavy fund for research and development activities associated to gas insulated transmission lines for reduction in the overall project cost and environmental hazards. In addition, the GIL offers high-power ratings, auto-reclosing functionality, high short-circuit withstand capability and low electromagnetic field emission.

Region with highest share:

Middle East and Africa is projected to hold the largest market share during the forecast period. The rising demand for a sustainable electric infrastructure and lack of electricity grid infrastructure along with the rising electricity demand will boost the global market size. Growing private investments from financial institutions consisting of the World Bank, the Asian Development Bank and the IFC, toward electrification will stimulate the business landscape. Furthermore, the re-establishment of electrical grid infrastructure across the war-affected nations will considerably proliferate the industry growth.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to the growing power demand from emerging nations. Developing economies including India and China are considered as favourable countries as they continue to complement the conventional power infrastructure and capacities to meet the power demand. Changing electricity consumption patterns in corporations and households favoured by regulatory inclination towards the integration of effective grid infrastructure will propel the global market share.

Key players in the market

Some of the key players profiled in the Gas Insulated Power Equipment Market include Xi’an XD Switchgear Electric, Toshiba Corporation, Siemens, Schneider Electric, J Murphy & Sons Ltd, Mitsubishi Electric Corporation, Meidensha Corporation, Larsen & Toubro, Hyundai Electric & Energy Systems, Hyosung Heavy Industries, Hitachi Ltd, General Electric, Fuji Electric, Bharat Heavy Electricals Limited, and ABB Limited.

Key Developments:

In March 2020, ABB was awarded a contract by El Sewedy Electric T&D to deliver high-voltage gas-insulated switchgears along with shunt reactors to ensure reliable power supply.

In April 2019, J Murphy & Sons Ltd. a London based firm has secured a contract from National grid of worth $31 million to design and build the new gas-insulated switchgear substation along with the installation of new cables to connect to the national power network.
Types Covered:
• Gas Insulated Transmission Lines
• Gas Insulated Switchgear
Voltages Covered:
• Medium Voltage
• High Voltage
Installations Covered:

• Underground/Direct Buried
• Tunnels/Troughs
• Above Ground
Applications Covered:
• High-Voltage Alternating Current (HVAC)
• High-Voltage Direct Current (HVDC)
End Users Covered:
• Utilities
• Industrial
• Power Generation
• Infrastructure

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 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 2020, 2021, 2022, 2025, and 2028
- 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

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