Gas Insulated Power Equipment Market Forecasts to 2030 - Global Analysis By Type, Installation, Voltage Rating, Application, End User and By Geography

According to Stratistics MRC, the Global Gas Insulated Power Equipment Market is accounted for $37.43 billion in 2024 and is expected to reach $78.77 billion by 2030 growing at a CAGR of 13.2% during the forecast period. Gas insulated power equipment refers to a type of electrical substation or switchgear system where the conductors and other active components are insulated by sulfur hexafluoride (SF6) gas. This gas acts as both an insulating medium and an arc-quenching agent, allowing for compact and efficient design. Gas insulated equipment offers advantages such as higher reliability, reduced maintenance requirements, and improved safety compared to conventional air-insulated alternatives.

According to the Powergrid Corporation of India, equipment such as gas insulated substations for the Thrissur-Pugalur HVDC line was supplied by factories in India as a part of the Make In India Program.

Market Dynamics:

Driver:

Rapid urbanization and industrialization

Rapid urbanization and industrialization drive the demand for reliable and efficient electricity distribution systems. Gas insulated power equipment, such as switchgear and transformers, offer compactness, safety, and high performance, making them ideal for densely populated urban areas and industrial settings. Their ability to withstand harsh environmental conditions and their lower maintenance requirements further contribute to their appeal. As urban populations grow and industrial activities expand, the need for such equipment increases, propelling the growth of the gas insulated power equipment market.

Restraint:

Limited adoption in rural areas

Rural areas often lack the necessary infrastructure and resources to support the installation and maintenance of such advanced equipment. Additionally, the lower population density in rural regions reduces the demand for electricity transmission and distribution systems, diminishing the market potential for gas insulated power equipment. Consequently, the market growth is hampered as rural areas remain underpenetrated, restricting the overall market reach and revenue generation opportunities.

Opportunity:

Rising investments in renewable energy

The increasing investments in renewable energy sources like wind and solar are driving the expansion of the gas insulated power equipment. This growth is fuelled by the need for efficient transmission and distribution infrastructure to support the integration of renewable energy into the grid. Gas insulated power equipment offers advantages such as compactness, high reliability, and reduced maintenance requirements, making it well-suited for accommodating the growing renewable energy capacity. As the demand for reliable and efficient energy transmission grows, so does the market for gas insulated power equipment.

Threat:

Concerns over SF6 gas

The main concerns over SF6 gas stem from its potent greenhouse gas properties, contributing significantly to global warming. Its long atmospheric lifespan and high global warming potential raise environmental and regulatory concerns, prompting efforts to find more sustainable alternatives. In the gas insulated power equipment market, reliance on SF6 hampers growth due to environmental regulations and increasing pressure to adopt eco-friendly solutions.

Covid-19 Impact

The gas insulated power equipment market experienced fluctuations due to covid-19. Initially, disruptions in supply chains and construction activities led to a slowdown. However, increased demand for reliable electricity infrastructure and the need for remote monitoring solutions boosted market growth. Additionally, the emphasis on renewable energy integration and grid modernization projects further drove market expansion, mitigating the pandemic's adverse effects to some extent.

The gas insulated busbars segment is expected to be the largest during the forecast period

The gas insulated busbars segment is estimated to have a lucrative growth. GIBs are a crucial component of high-voltage power transmission and distribution systems, offering compactness, safety, and reliability. By encapsulating conductors within a gas-insulated metal enclosure, GIBs minimize space requirements and reduce the risk of electrical faults. Their ability to handle high currents and voltages efficiently makes them indispensable in substations and industrial applications, contributing to improved power infrastructure performance and reliability.

The commercial segment is expected to have the highest CAGR during the forecast period

The commercial segment is anticipated to witness the highest CAGR growth during the forecast period. Gas insulated power equipment, such as switchgear and transformers, finds extensive use in commercial applications due to its compact design and reliable performance. By encapsulating components within a gas-insulated metal enclosure, these systems offer enhanced safety and space-saving advantages, making them ideal for densely populated areas and urban environments. Additionally, their ability to withstand harsh environmental conditions makes them suitable for various commercial applications, ensuring stable and uninterrupted power supply.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period due to increasing energy demand, urbanization, and industrialization. Key players are investing in research and development to enhance product efficiency and reliability. China, Japan, and India are among the leading markets in the region due to extensive infrastructural development initiatives. The market is expected to witness continued expansion fuelled by ongoing technological advancements and government initiatives promoting clean energy.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to escalating demand for reliable power supply, grid modernization initiatives, and stringent environmental regulations. The region's strong focus on renewable energy integration and the replacement of aging infrastructure are also contributing to market growth. Key players are investing in research and development to offer innovative solutions, enhancing the competitiveness of the market in North America.

Key players in the market

Some of the key players profiled in the Gas Insulated Power Equipment Market include ABB Limited, Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Toshiba Corporation, Hitachi Limited, Hyundai Heavy Industries Corporation, Larsen & Toubro Limited (L&T), Fuji Electric Corporation, Nissin Electric Corporation, Arteche, Crompton Greaves Limited, Meidensha Corporation and Xi'an XD High Voltage Apparatus Corporation.

Key Developments:

In February 2024, ABB India inaugurated its new state-of-the-art factory in Nashik, doubling its Gas Insulated Switchgear (GIS) production capacity. This factory will manufacture primary and secondary GIS. It will serve customers across various industries including power distribution, smart cities, data centers, transport (metro, railways), tunnels, ports, highways and other infrastructural developments.

In March 2022, GE Renewable Energy's Grid Solutions (NYSE-GE) unveiled the world's first 420 kV, 63 kA g3 gas-insulated substation (GIS) circuit-breaker1 prototype. The development of GE's 420 kV g3 circuit-breaker is a historical milestone for the power industry as it will allow utilities to accelerate the decarbonization of their electrical grids

Types Covered:

• Gas Insulated Switchgear (GIS)
• Gas Insulated Transmission Lines (GIL)
• Gas Insulated Circuit Breaker (GICB)
• Gas Insulated Transformer (GIT)
• Gas Insulated Busbars
• Other Types

Installations Covered:

• Indoor
• Outdoor

Voltage Ratings Covered:

• Medium Voltage (Up To 36 kV)
• High Voltage (36 kV - 150 kV)
• Extra High Voltage (Above 150 kV)

Applications Covered:

• High-Voltage Alternating Current (HVAC)
• High-Voltage Direct Current (HVDC)

End Users Covered:

• Power Utilities
• Industrial
• Commercial
• Residential
• Transportation
• Telecommunication Sector
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances