Gas Insulated Switchgear Market worth $38.31 billion by 2030, growing at a CAGR of 6.19% - Exclusive Report by 360iResearch

The "Gas Insulated Switchgear Market by Installations (Indoor, Outdoor), Voltage Ratings (37 to 73 kV, 74 to 220 kV, Above 220 kV), Configuration, End User - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Gas Insulated Switchgear Market to grow from USD 25.15 billion in 2023 to USD 38.31 billion by 2030, at a CAGR of 6.19%.

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A gas insulated switchgear (GIS) is a specific type of electrical switchyard equipment designed to moderate or regulate voltage levels in an electrical power system. An effective gas insulation mechanism is typically used to eliminate the probability of electrical outages caused by atmospheric conditions or short circuit scenarios. Gas-insulated switchgear, known for its high reliability and compact nature, is most widely used in sectors that demand robust and efficient power supply systems, such as the manufacturing, energy, utilities, and infrastructural domains. Its end-use varies from essential industrial plants and utility networks to big infrastructure projects. This switchgear with higher power capacity ratings is also in rising demand for use in high-voltage transmission networks, further driving its market value. The GIS class of switchgear is highly compact, requiring considerably less space than traditional air-insulated switchgear (AIS), making them especially beneficial in urban areas where space is often limited. The expansion of this market is due to the rising need for efficient power transmission systems globally, expanding infrastructure development coupled with rapid urbanization, and growing investments in renewable energy projects. However, the GIS market faces potential challenges. A significant obstruction is the high cost attached to installation and associated infrastructure that may deter potential users, particularly in economically restrained regions. Moreover, the availability of alternative technologies, such as air-insulated switchgear and hybrid switchgear, pose formidable constraints. On the other hand, the GIS market presents many opportunities. The burgeoning trend of smart grids and the rising wave of digitization opens up new opportunities for AI-driven, digital GIS systems, unleashing a wide array of potential business avenues.

The United States represents a promising opportunity for GIS with the frequent upgrade of grid infrastructure and a growing focus on renewable power generation. In Canada, the abundant availability of renewable resources coupled with stringent emission norms is driving the demand for GIS. The innovations in GIS are crucial in attracting investment and fostering a favorable business environment. Furthermore, countries such as Canada and the U.S. have set goals to reduce their greenhouse gas emissions, which is expected to spur the market. The EMEA region indicates an increasing need for GIS due to massive investments in energy and industrial sectors. European countries are shifting towards sustainable energy, increasing the need for innovative, robust, versatile switchgear technologies such as GIS. The African continent portrays potential growth owing to increasing urbanization, whereas the Middle East shows a steady demand because of substantial expansion in the industrial and utility sectors. In APAC, China's urbanization process and constant upgrade of electric infrastructure in high-density cities contribute to the high demand for gas-insulated switchgear. Standards and regulations implemented by the Chinese government to reduce greenhouse emissions heighten the appeal for eco-friendly and space-saving solutions like GIS. Moreover, countries in the APAC region are heavily investing in smart grid projects and are focusing on renewable sources for power generation, thus driving the demand for GIS. In addition, the region is witnessing substantial growth owing to technological advancement and numerous research initiatives by leading market players.

Market Segmentation & Coverage:

This research report categorizes the Gas Insulated Switchgear Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Installations, market is studied across Indoor and Outdoor. The Indoor is projected to witness significant market share during forecast period.

Based on Voltage Ratings, market is studied across 37 to 73 kV, 74 to 220 kV, Above 220 kV, and Up to 36 kV. The Up to 36 kV is projected to witness significant market share during forecast period.

Based on Configuration, market is studied across Hybrid, Integrated Three-phase, and Isolated Phase. The Hybrid is projected to witness significant market share during forecast period.

Based on End User, market is studied across Commercial & Residential, Industrial, and Power Utilities. The Power Utilities is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.09% in 2023, followed by Asia-Pacific.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Gas Insulated Switchgear Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Gas Insulated Switchgear Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Gas Insulated Switchgear Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., ALSTOM Holdings, Bharat Heavy Electricals Limited, CG Power & Industrial Solutions Ltd. by Murugappa Group, CHINT Group Co., Ltd., Chung-Hsin Electric and Machinery Manufacturing Corp., Eaton Corporation PLC, Fuji Electric Co., Ltd., General Electric Company, Hitachi, Ltd., Hyosung Heavy Industries, Hyundai Electric & Energy Systems Co., Ltd., ILJIN Electric, Meidensha Corporation, Mitsubishi Electric Corporation, Nissin Electric Co., Ltd., Powell Industries, Inc., Schneider Electric SE, SEL S.p.A., Siemens AG, and Sumitomo Electric Industries, Ltd..

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Gas Insulated Switchgear Market, by Installations
7. Gas Insulated Switchgear Market, by Voltage Ratings
8. Gas Insulated Switchgear Market, by Configuration
9. Gas Insulated Switchgear Market, by End User
10. Americas Gas Insulated Switchgear Market
11. Asia-Pacific Gas Insulated Switchgear Market
12. Europe, Middle East & Africa Gas Insulated Switchgear Market
13. Competitive Landscape
14. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Gas Insulated Switchgear Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Gas Insulated Switchgear Market?
3. What is the competitive strategic window for opportunities in the Gas Insulated Switchgear Market?
4. What are the technology trends and regulatory frameworks in the Gas Insulated Switchgear Market?
5. What is the market share of the leading vendors in the Gas Insulated Switchgear Market?
6. What modes and strategic moves are considered suitable for entering the Gas Insulated Switchgear Market?

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