Gas Insulated Switchgear Market Share Expected to Reach $33.53 billion by 2029

The global gas insulated switchgear market share is expected to grow from estimated $24.93 billion in 2024 to $33.53 billion by 2029, at a CAGR of 6.1% during the forecast period.
The global [https://www.marketsandmarkets.com/Market-Reports/gas-insulated-switchgear-market-234770702.html?utm_source=abnewswire.com&utm_medium=referral] is expected to grow from estimated USD 24.93 billion in 2024 to USD 33.53 billion by 2029, at a CAGR of 6.1% during the forecast period. 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.

Regional Analysis

The Asia Pacific region is likely to become the largest market for gas insulated switchgear, 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.

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Outdoor segment, by Installation

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

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.

Key Players

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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Schneider Electric

Schneider Electric is a global leader in energy management and automation solutions, and its leadership truly drives digital transformation across numerous industries. The company's operation is mainly categorized under two segments: Energy Management and Industrial Automation. Under the Energy Management segment, Schneider Electric provides GIS solutions that can manage energy efficiently and reliably. This segment encompasses low voltage, medium voltage, and secure power solutions like those of similar economic and operational characteristics. Schneider Electric has a vast portfolio of products: residential buildings, commercial buildings, industries, infrastructures, and data centers. Within the medium voltage segment, Schneider Electric emphasizes its advanced GIS products, monitoring systems, power management software, transformers, remote control systems, and medium voltage/low voltage substations. One of its recent innovations is the RM AirSeT and SM AirSeT series, which illustrate the company's interest in next-generation GIS technologies. Such cutting-edge products will highlight their eco-friendly performance along with digital capabilities-endeavoring to ensure Schneider Electric's strong position in the GIS market.

ABB

ABB is one of the leading technology companies in electrification, power grids, robotics, and industrial automation. The company caters to many industries, which include utilities, transportation, and infrastructure. ABB operates through four main segments: Electrification Products, Robotics & Discrete Automation, Process Automation, and Motion. The Electrification Products is a key source of income for ABB as it covers GIS together with other wide arrays of electrical solutions. These are circuit breakers, sensing devices, solar power systems, and EV charging infrastructure-physically all connected end-to-end in the whole electricity value chain, from a substation to an end-user. ABB has an extensive global presence with operations in more than 100 countries and over 300 manufacturing facilities around the globe. The company has shown unwaveringly that it keeps pace and even leads the industry on trends involving IoT and AI. The company, for instance, has collaborated with Samsung Electronics to create innovative solutions for energy-efficient intelligent energy management and IoT-based systems. Such initiatives place ABB at the heart of this developing GIS market, drawing forth advancement in technology and presenting solutions to modern power infrastructure needs.

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