The global demand for Gas Insulated Switchgear Market is presumed to reach the market size of nearly USD 36.78 MN by 2028 from USD 22.46 MN in 2021 with a CAGR of 8.3% under the study period 2022 - 2028.
Gas insulated switchgear (GIS) refers to a small metal-enclosed cabinet containing high-voltage components such as circuit breakers, relays, switches, and disconnectors. Gas insulated switchgear is generally installed on the extensions of roofs, offshore platforms and industrial plants. These switchgear aids in vacuuming and circuit breaking in the electrical system. Gas insulated switchgear is more environment-friendly, reliable, adaptable, and requires less maintenance.
Market Dynamics
The growing implementation of smart grids and smart metering technology, as well as rising energy demand worldwide, are the primary factors driving the market growth. Moreover, owing to a wide range of benefits, such as safety, high reliability, small space requirement, low maintenance and environmental compatibility, gas insulated switchgear is gaining rapid preference in the market. Furthermore, growing investments in smart grids and energy systems and replacing old switchgear at substations in developed regions are expected to open up numerous opportunities in the GIS market soon. In addition, government initiatives worldwide to improve electricity access are major factors driving the global gas insulated switchgear market. However, high equipment costs and safety regulations related to gas insulated switchgear will likely restrain the market growth during the forecast period.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of gas insulated switchgear. The growth and trends of gas insulated switchgear industry provide a holistic approach to this study.
Market Segmentation
This section of the gas insulated switchgear market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Installations
By Insulation Types
By Voltage Ratings
- Up To 36 KV
- 37 To 73 KV
- 74 To 220 KV
- Above 220 KV
By Configurations
- Hybrid
- Isolated Phase
- Integrated Three Phase
- Compact GIS
By End-Users
- Power Transmission Utilities
- Power Distribution Utilities
- Power Generation Utilities
- Railways & Metros
- Industries & OEM
- Commercial
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Gas Insulated Switchgear market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Gas Insulated Switchgear Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the gas insulated switchgear market include ABB (Switzerland), General Electric (US), Siemens (Germany), Schneider Electric (France), Mitsubishi Electric (Japan), Eaton Corporation (Ireland), Hitachi (Japan), Hyundai Electric (South Korea), Fuji Electric (Japan), Toshiba energy systems & solutions corporation (Japan), Hyosung Heavy Industries (South Korea), ELEKTROBUDOWA (Poland), Yueqing Liyond Electric Co. Ltd. (China), CG Power and Industrial Solutions (India), Nissin Electric (Japan), Meidensha Corporation (Japan), Powell Industries (US), Lucy Electric (UK), Chint (China), SEL S.P.A. (Italy), and ILJIN Electric (South Korea). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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