Registering a CAGR of 7.4% over the forecast period of 2022-2027, the global Gas Insulated Switchgear (GIS) Market is anticipated to reach the market value of USD 36.61 billion by 2027 from USD 21.15 billion in 2018.
The outbreak of the COVID-19 led to a series of lockdowns foremost to the global economic slowdown, which, in turn, led to a slowdown in industrial and commercial activities due to less discretionary spending, hampering the gas-insulated switchgear (GIS) market. In terms of the development of the market, factors such as the transformation of the power industry in terms of advanced transmission and distribution networks, increasing adoption of renewable energy-based power plants, etc. are anticipated to drive the market during the forecast period. However, high equipment cost when compared to air-insulated switchgear, along with stringent environmental and safety regulations related to GIS is likely to restrain the market development during the forecast period.
In the packaging of medical and food products, moisture control is the main concern, and thermoform plastic acts as barrier film to bring the product in good condition. Thin walling used in various packaging applications has been an additional development factor for the market.
The Gas Insulated Switchgear (GIS) Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market includes ABB, GE Grid Solutions, Siemens, Mitsubishi Electric, Toshiba, Fuji Electric, Hyundai, Eaton, Hyosung, Schneider Electric, Nissin Electric, Crompton Greaves, Xi’an XD High Voltage, NHVS, Shandong Taikai, Pinggao Electric Co., Ltd, Sieyuan Electric, CHINT Group
Recent Developments:
June 21 2021: Toshiba and Meidensha to develop GIS jointly using natural origin gases--
Toshiba Energy Systems & Solutions Corporation (hereinafter “Toshiba ESS”) and Meidensha Corporation (hereinafter “Meidensha”) have been collaborating since 2020 on the joint development of gas insulated switchgear (GIS) for 72kV/84kV using a natural origin gas that contains no sulfur hexafluoride (SF6) at all, and have now decided to accelerate the development and commercialization of this GIS due to higher demand for environmentally friendly products in the market.
18-08-2021: Hitachi ABB Power Grids announces EconiQ™ High-voltage Roadmap at CIGRE 2021--
Hitachi ABB Power Grids is taking the next steps in its journey towards a sustainable energy future and entering the transmission voltage level with its EconiQ™ eco-efficient high-voltage portfolio. EconiQ is the company’s eco-efficient portfolio for sustainability where products, services and solutions are proven to deliver exceptional environmental performance.
Gas Insulated Switchgear (GIS) Market is segmented based on the type, applications, companies and regions.
By Type, it is segmented into
By Installation, it is segmented into
By Applications, it is segmented into
The outdoor segment dominates the market because to the vast range of applications in an outside application, which includes long-distance power transmission, very big power plants, and ultra-high voltage transmission. The outdoor section of the industry is dominated by significant investments in the expansion of transmission and distribution systems over large distances.
The Asia Pacific region held the highest proportion of the global gas-insulated switchgear market in 2020. North America, on the other hand, is catching up at a breakneck speed. According to data from the US Energy Information Administration, spending on electric transmission networks has increased significantly. Both maintenance and operations are included in these investments. Furthermore, between 2018 and 2019, spending on developing electric transmission systems climbed by nearly 3%, reaching USD 40.1 billion. Increased demand for high-efficiency transformers will almost certainly result in increased electricity demand. The demand for switchgear is increasing as it protects unaffected components by insulating them and maintaining a consistent power supply, favourably impacting the worldwide gas insulated switchgear market.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 7.4% over the forecast period (2022-2027) |
By Type |
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By Installation |
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By Application |
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By Companies | ABB, GE Grid Solutions, Siemens, Mitsubishi Electric, Toshiba, Fuji Electric, Hyundai, Eaton, Hyosung, Schneider Electric, Nissin Electric, Crompton Greaves, Xi’an XD High Voltage, NHVS, Shandong Taikai, Pinggao Electric Co., Ltd, Sieyuan Electric, CHINT Group |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 158 |
Customization Available | Yes, the report can be customized as per your needs |
What is the growth rate of Gas Insulated Switchgear (GIS) Market?
The Gas Insulated Switchgear (GIS) Market is growing at a CAGR of 7.4% over the next 5 years.
Who are the key players in Gas Insulated Switchgear (GIS) Market?
ABB, GE Grid Solutions, Siemens, Mitsubishi Electric, Toshiba, Fuji Electric, Hyundai, Eaton, Hyosung, Schneider Electric, Nissin Electric, Crompton Greaves, Xi’an XD High Voltage, NHVS, Shandong Taikai, Pinggao Electric Co., Ltd, Sieyuan Electric, CHINT Group
What are the significant types of Gas Insulated Switchgear (GIS) Market?
Up to 38 KV, 38 KV to 72KV, 72 KV to 150KV, Above 150 KV
What are the major end-use applications of Gas Insulated Switchgear (GIS) Market?
Power Transmission, Integration to The Grid, Industry Applications
On the basis of installtion, Which segment is likely to hold the major share in the Gas Insulated Switchgear (GIS) Market?
Outdoor segment to hold the largest share in Gas Insulated Switchgear (GIS) market
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SECONDARY RESEARCH
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PRIMARY RESEARCH
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MARKET ENGINEERING
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