Gas Insulated Switchgear Market Introduction and Overview
According to SPER Market Research, the Global Gas Insulated Switchgear Market is estimated to reach USD 33.53 billion by 2034 with a CAGR of 6.33%.
Gas-insulated switchgear Market components are becoming increasingly essential due to their promising qualities. Inert, non-flammable SF6 provides insulation three times stronger than air, therefore it is utilized as an insulating medium to reduce the size and position of high voltage switchgear components. A shock-proof grounding mechanism and a circuit breaker are also included to protect against electric shocks caused by lightning. However, factors such as transmission and distribution network renewal, renewable energy expansion, and other aspects of the electrical market transition should have a favorable impact on the global market.
Recent Developments: In February 2024, ABB acquired SEAM Group, a US-based provider of energized asset management and advisory services. This acquisition aims to expand ABB’s Electrification Service portfolio in the US market and enhance its services. In June 2023, Eaton announced it is expanding its manufacturing in Puducherry, India. This expansion aims to improve production capabilities and meet rising demand for electrical solutions. The new facility will produce circuit breakers, busbars, and switchgear.
By Voltage Insights: The market for gas insulated switchgear is divided into four segments based on voltage: up to 66 kV, 66 kV to 170 kV, 170 kV to 550 kV, and above 550 kV. Due to the extensive growth of transmission and distribution facilities, the 170 kV to 550 kV category is currently leading the market. Developed nations are spending money on smart grid technology that will guarantee adequate fault monitoring in addition to aiding with load control and power supply. Due to the many benefits of gas-insulated switchgear equipment in the sub-transmission and distribution sector, the 66 kV–170 kV segment is currently leading the market. Due to its extensive use in power transmission and the incorporation of renewable energy sources, the over 550 kV sector is also growing its market share globally.
By Installation Insights: The market is divided into two segments based on installation: indoor and outdoor. Due to its broad range of applications, which include transmission of ultra-high voltage, very big power plants, and long-range power transmission, the outdoor segment is now leading the market. The market's outdoor segment is dominated by large expenditures in the long-term growth of transmission and distribution projects. Due to the widespread use of GIS in tiny sub-stations and the transmission of low voltage in the power industry, the indoor segment is also growing its market share. Therefore, it is anticipated that during the anticipated period, grid development projects and investments for their expansion would support the growth of the outdoor segment.
By End User: The end-user market is further divided into utility, industrial, commercial, and other categories. The utility segment is likely to dominate the market due to utilities' substantial use of GIS for transmission and distribution of a wide variety of sub-transmission voltage, high-voltage, extra-high voltage, and ultra-high voltage. Because of the growing use of GIS in shopping malls, hospitals, banks, and other applications, the commercial segment now has the second biggest market share for gas insulated switchgear.
Market Competitive Landscape:
The Global Gas Insulated Switchgear Market is highly consolidated. Some of the market players are ABB, Bharat Heavy Electricals Limited, CHEM Group, Eaton, Fuji Electric, GE, Hitachi, Ltd, Hyundai Electric & Energy Systems Co., Ltd, Larsen & Toubro, Meidensha Corporation, Mitsubishi Electric Corporation, Nissin Electric Co Ltd, Schneider Electric, Siemens, Toshiba International Corporation and Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Voltage, By Installation, By End User. |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe. |
| Companies Covered | ABB, Bharat Heavy Electricals Limited, CHEM Group, Eaton, Fuji Electric, GE, Hitachi, Ltd, Hyundai Electric & Energy Systems Co., Ltd, Larsen & Toubro, Meidensha Corporation, Mitsubishi Electric Corporation, Nissin Electric Co Ltd, Schneider Electric, Siemens, Toshiba International Corporation. |
Key Topics Covered in the Report:
- Global Gas Insulated Switchgear Market Size (FY’2021-FY’2034)
- Overview of Global Gas Insulated Switchgear Market
- Segmentation of Global Gas Insulated Switchgear Market By Voltage (Up to 66 kV,66 kV - 170 kV,170 kV - 550 kV, Above 550 kV)
- Segmentation of Global Gas Insulated Switchgear Market By Installation (lndoor and Outdoor)
- Segmentation of Global Gas Insulated Switchgear Market By End User (Utility, Industrial, Commercial, Others)
- Statistical Snap of Global Gas Insulated Switchgear Market
- Expansion Analysis of Global Gas Insulated Switchgear Market
- Problems and Obstacles in Global Gas Insulated Switchgear Market
- Competitive Landscape in the Global Gas Insulated Switchgear Market
- Details on Current Investment in Global Gas Insulated Switchgear Market
- Competitive Analysis of Global Gas Insulated Switchgear Market
- Prominent Players in the Global Gas Insulated Switchgear Market
- SWOT Analysis of Global Gas Insulated Switchgear Market
- Global Gas Insulated Switchgear Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERs internal database
2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Gas Insulated Switchgear Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Gas Insulated Switchgear Market
7. Global Gas Insulated Switchgear Market, By Voltage (USD Million) 2021-2034
7.1. Up to 66 kV
7.2. 66 kV - 170 kV
7.3. 170 kV - 550 kV
7.4. Above 550 kV
8. Global Gas Insulated Switchgear Market, By Installation (USD Million) 2021-2034
8.1. Indoor
8.2. Outdoor
9. Global Gas Insulated Switchgear Market, By End User (USD Million) 2021-2034
9.1. Utility
9.2. Industrial
9.3. Commercial
9.4. Others
10. Global Gas Insulated Switchgear Market (USD Million) 2021-2034
10.1. Global Gas Insulated Switchgear Market Size and Market Share
11. Global Gas Insulated Switchgear Market, By Region (USD Million) 2021-2034
11.1. Asia-Pacific
11.1.1. Australia
11.1.2. China
11.1.3. India
11.1.4. Japan
11.1.5. South Korea
11.1.6. Rest of Asia-Pacific
11.2. Europe
11.2.1. France
11.2.2. Germany
11.2.3. Italy
11.2.4. Spain
11.2.5. United Kingdom
11.2.6. Rest of Europe
11.3. Middle East and Africa
11.3.1. Kingdom of Saudi Arabia
11.3.2. United Arab Emirates
11.3.3. Qatar
11.3.4. South Africa
11.3.5. Egypt
11.3.6. Morocco
11.3.7. Nigeria
11.3.8. Rest of Middle-East and Africa
11.4. North America
11.4.1. Canada
11.4.2. Mexico
11.4.3. United States
11.5. Latin America
11.5.1. Argentina
11.5.2. Brazil
11.5.3. Rest of Latin America
12. Company Profile
12.1. ABB
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Bharat Heavy Electricals Limited
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. CHEM Group
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Eaton
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Fuji Electric
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. GE
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Hitachi, Ltd
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Hyundai Electric & Energy Systems Co., Ltd
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Larsen & Toubro
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Meidensha Corporation
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Mitsubishi Electric Corporation
12.11.1. Company details
12.11.2. Financial outlook
12.11.3. Product summary
12.11.4. Recent developments
12.12. Nissin Electric Co Ltd
12.12.1. Company details
12.12.2. Financial outlook
12.12.3. Product summary
12.12.4. Recent developments
12.13. Schneider Electric
12.13.1. Company details
12.13.2. Financial outlook
12.13.3. Product summary
12.13.4. Recent developments
12.14. Siemens
12.14.1. Company details
12.14.2. Financial outlook
12.14.3. Product summary
12.14.4. Recent developments
12.15. Toshiba International Corporation
12.15.1. Company details
12.15.2. Financial outlook
12.15.3. Product summary
12.15.4. Recent developments
12.16. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links