Press release
GIS Market Set to Reach USD 48.64 Billion by 2030
Gas Insulated Switchgear Market
The global Gas Insulated Switchgear (GIS) market is projected to grow from USD 29.89 billion in 2023 to USD 48.64 billion by 2030, exhibiting a robust CAGR of 7.2% during the forecast period. This growth is fueled by increasing demand for compact and reliable switchgear solutions, particularly in urban areas and renewable energy projects.
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◉ Competitive Landscape
Key players in the GIS market include ABB Ltd., Siemens AG, Schneider Electric SE, Mitsubishi Electric Corporation, and General Electric Company. These companies are investing in research and development to innovate and offer advanced GIS solutions that cater to the evolving needs of the power sector.
◉ Regional Demand Highlights
Asia-Pacific dominates the GIS market, driven by rapid urbanization, industrialization, and significant investments in renewable energy projects. Europe and North America follow, with increasing emphasis on upgrading aging power infrastructure and integrating smart grid technologies.
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◉ Growth Opportunities in Vietnam
Vietnam's GIS market is witnessing significant growth due to the government's focus on expanding the national grid and integrating renewable energy sources. The country's commitment to reducing carbon emissions and enhancing energy efficiency is driving the adoption of advanced GIS solutions in both urban and rural areas.
Trends in Thailand's GIS Market
Thailand is experiencing a surge in GIS demand, propelled by infrastructure development and the modernization of its power sector. The government's initiatives to promote smart grid technologies and renewable energy integration are creating opportunities for GIS manufacturers and suppliers.
Technological Advancements in Japan's GIS Sector
Japan's GIS market is characterized by technological innovation and a strong emphasis on reliability and safety. The country's focus on earthquake-resistant infrastructure and energy efficiency is leading to the development and adoption of advanced GIS systems with enhanced monitoring and control capabilities.
Consolidation Trends in South Korea's GIS Industry
South Korea's GIS market is undergoing consolidation, with major players engaging in mergers and acquisitions to strengthen their market position. The country's push towards smart cities and renewable energy integration is driving the demand for compact and efficient GIS solutions.
Strategic Developments in Singapore's GIS Landscape
Singapore serves as a strategic hub for GIS technology in Southeast Asia, leveraging its advanced infrastructure and regulatory framework. The government's emphasis on sustainable development and smart grid implementation is fostering the growth of the GIS market in the region.
Growth Dynamics in the United States
The United States maintains a significant share in the global GIS market, driven by the modernization of its aging power infrastructure and the integration of renewable energy sources. The country's focus on grid reliability and resilience is leading to increased investments in advanced GIS technologies.
Expansion of China's GIS Market
China's GIS market is expanding rapidly, fueled by the country's large-scale urbanization and ambitious renewable energy targets. The government's investments in ultra-high-voltage transmission projects and smart grid development are creating substantial opportunities for GIS manufacturers.
Opportunities in Europe's GIS Sector
Europe's GIS market is experiencing steady growth, driven by the region's commitment to reducing carbon emissions and enhancing energy efficiency. The modernization of power infrastructure and the integration of renewable energy sources are key factors contributing to the demand for advanced GIS solutions.
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◉ Gas Insulated Switchgear Market Segment Analysis
by Insulation Type
SF6
SF6-Free
by Installation
Indoor
Outdoor
by Voltage Rating
Up to 36 kV
Between 36 kV and 72.5 kV
Between 72.5 kV and 220 kV
Above 220 kV
by End-User
Power Transmission Utility
Power Generation Utility
Power Distribution Utility
Railways & Metros
Industrial & OEMs
Commercial
◉ Recent Developments
ABB Ltd. announced the development of a new eco-efficient GIS technology that reduces the use of sulfur hexafluoride (SF6), a potent greenhouse gas, aligning with global sustainability goals.
Siemens AG introduced a digital GIS solution with advanced monitoring and diagnostic capabilities, enhancing grid reliability and performance.
Schneider Electric SE partnered with a leading utility company in Europe to deploy smart GIS systems as part of a grid modernization initiative.
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