Gas Insulated Switchgear Market Share, Industry Analysis & Forecast Report 2024-2029.

According to the latest research report published by Market Data Forecast, the global gas insulated switchgear market was worth US$ 24.27 billion in 2023 and is anticipated to reach a valuation of US$ 36.88 billion by 2029 and is predicted to register a CAGR of 8.73% during 2024-2029.

GIS (gas-insulated switchgear) is a high-voltage substation in which important electrical equipment is enclosed in a sealed environment and insulated with sulfur hexafluoride gas (SF6). All of the electrical switching equipment in a GIS is totally enclosed inside modules filled with SF6 gas, including circuit breakers, isolators, earth switches, and busbars.

Global Gas Insulated Switchgear Market Report Scope:

• Market Size (2029): US$ 36.88 Billion
• Market Size (2023): US$ 24.27 Billion
• CAGR (2024 to 2029): 8.73%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: By Insulation, Installation, End User, and Geography
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: ABB, Siemens, Schneider Electric, Fuji Electric, Hyundai Electric & Energy Systems Co., Ltd., Mitsubishi Electric Corporation, Eaton, Hitachi, Ltd., Nissin Electric Co Ltd, Toshiba International Corporation, Bharat Heavy Electricals Limited, and Others.

Market Drivers:

Many significant factors are driving the growth of renewable energy: the continued backing of over 130 countries' governments, the aggressive net-zero pledges made by countries accounting for 90% of the world's GDP, and the growing competitiveness of solar and wind photovoltaic (PV) technologies. In response to China's lofty objective of becoming carbon neutral by 2060, new short-term targets have been set, such as the ambition of generating 1,200 GW of combined solar and wind PV capacity by 2030. Based on the trajectory of renewable capacity construction between 2021 and 2026, projections suggest that the growth of renewable power within the European Union is expected to exceed the targets set forth in the National Energy and Climate Plans (NECPs) that are already in place for 2030. Member nations are holding more auctions, companies are requesting more electricity from renewable sources, and households are actively installing a sizable amount of solar panels. Because of our combined efforts, the adoption of renewable energy is moving quickly, which will benefit the worldwide gas insulated switchgear business as demand for clean, sustainable energy sources grows.

Furthermore, there are several strong reasons for the increase in industrial production investments linked to gas-insulated switchgear (GIS). Brazil, India, and other emerging economies are among those with a large demand for additional electricity infrastructure.

Market Restraints:

However, SF6 belongs to a class of compounds known as fluorinated gases and is considered a strong "greenhouse gas" (GHG) with a high global warming potential (GWP). Because SF6 harms the environment, strong regulations and usage limits have been put in place to reduce emissions. Government agencies are looking more closely at SF6, and as F-gas laws tighten, the gas-insulated switchgear market is anticipated to be greatly impacted.

Gas-insulated switchgear (GIS) has a higher acquisition cost because of things like capital expenditure (CAPEX), intricate manufacturing processes, and the use of pricey parts like transformers, circuit breakers, and switching elements that have to work in a dielectric gas-filled enclosure. Equipment expenses are increased when all of these components are housed in a single chamber. The Intergovernmental Panel on Climate Change (IPCC) has categorised SF6 gas as one of the most dangerous greenhouse gases; nonetheless, it is essential to remember that SF6 gas is unique. As such, the combination of high procurement prices and strict regulations around SF6 gas is projected to put growth constraints on the GIS industry. Furthermore, compared to air-insulated switchgear (AIS), the cost of repairing GIS is higher in the event of internal damage.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/gas-insulated-switchgear-market

SEGMENTATION INCLUDED IN THIS REPORT:

By Insulation:
• SF-6
• SF-6 Free

By Installation:
• Indoor
• Outdoor

By End User:
• Power Transmission Utility
• Power Distribution Utility
• Power Generation Utility
• Railways & Metros
• Industries & OEM
• Commercial

By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Key Insights from The Report:

• Based on insulation, the SF6-free segment led the market and accounted for the largest share of the global market in 2023.
• Based on installation, the outdoor segment captured the highest share of the global market in 2023.
• Based on end user, the power distribution utility segment dominated the market in 2023.
• Asia-Pacific dominated the gas insulated switchgear market in 2023. North America accounted for the second-highest share of the global market in 2023 and on the other hand, the Europe region is estimated to grow at the fastest CAGR during the forecast period.

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods

2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline

3. Report Overview
3.1 Executive Summary
3.2 Key Inferences

4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends

5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquisition Landscape
5.3 Joint Ventures & Collaborations

6. Market Segmentation
6.1 Gas Insulated Switchgear Market, By Insulation
6.1.1 SF-6
6.1.2 SF-6 Free
6.1.3 Market Size Estimations & Forecasts (2023-2028)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Gas Insulated Switchgear Market, By Installation
6.2.1 Indoor
6.2.2 Outdoor
6.2.3 Market Size Estimations & Forecasts (2024-2029)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Gas Insulated Switchgear Market, By End User
6.3.1 Power Transmission Utility
6.3.2 Power Distribution Utility
6.3.3 Power Generation Utility
6.3.4 Railways & Metros
6.3.5 Industries & OEM
6.3.6 Commercial
6.3.7 Market Size Estimations & Forecasts (2024-2029)
6.3.8 Y-o-Y Growth Rate Analysis
6.3.9 Market Attractiveness Index

7. Geographical Landscape
7.1 Global Gas Insulated Switchgear Market, by Region
7.2 North America - Market Analysis (2024-2029)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Insulation
7.2.3 By Installation
7.2.4 By End User
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Insulation
7.3.3 By Installation
7.3.4 By End User
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Insulation
7.4.3 By Installation
7.4.4 By End User
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Insulation
7.5.3 By Installation
7.5.4 By End User
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Insulation
7.6.3 By Installation
7.6.4 By End User

8. Key Player Analysis
8.1 ABB
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Siemens
8.3 Schneider Electric
8.4 Fuji Electric
8.5 Hyundai Electric & Energy Systems Co., Ltd.
8.6 Mitsubishi Electric Corporation
8.7 Eaton
8.8 Hitachi, Ltd.
8.9 Nissin Electric Co Ltd
8.10 Toshiba International Corporation
8.11 Bharat Heavy Electricals Limited

9. Market Outlook & Investment Opportunities

10. Appendix
List of Tables
List of Figures

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