October 03, 2023 09:14 ET | Source: Polaris Market Research & Consulting LLP Polaris Market Research & Consulting LLP
New York, NY, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Gas Insulated Switchgear Market Share, Size, Trends, Industry Analysis Report, By Installations (Indoor, Outdoor); By Configurations; By End-Use; By Insulation; By Voltage Ratings; By Region, And Segment Forecasts, 2023-2032” in its research database. 15kv Lightning Arrester
“As per the latest research analysis, the global gas insulated switchgear market size/share will be valued at roughly USD 23,395.93 Million in 2022, and its revenue is projected to reach about USD 44,896.0 Million By 2032. The market is forecasted to expand at a compound annual growth rate of approximately 6.7% between 2023 and 2032.”
Gas Insulated Switchgear Market: Report Overview
A gas insulated switchgear or GIS is a combined device enclosed in a solid metal frame that contains various electrical devices such as surge suppressors, earth switches, bus bars, transformers, and circuit breakers. All of these elements are accommodated in shielded compartments that are surrounded by barrier devices and submerged in sulfur hexafluoride gas (SF6).
GIS is a compact option because it only needs 10% of the space of conventional substations. It requires little maintenance, takes up little room, and is especially well suited for installation in locations with a shortage of available space. GIS offers improved fault protection, which reduces end-user power interruptions. Its operation provides a dependable and uninterrupted power supply and boasts greater feasibility and dependability, which is expanding the gas insulated switchgear market demand.
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Some of the Top Market Leaders Are:
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Gas Insulated Switchgear Market: Report Scope
Top Findings of the Report
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Top Trends Influencing the Market
Due to the wide range of outside applications, such as power transmission, the construction of massive power plants, and the dissemination of knowledge about ultra-high voltage power to various industries, the outdoor segment had the biggest market share in 2022. The market's expansion is greatly influenced by the installation of gas-insulated switchgear (GIS) in substations and switchyards, which have plenty of room.
Additionally, the rise of the outdoor segment within the gas insulated switchgear market has been supported by increased investments in transmission and distribution networks as a result of the rising demand for energy.
With a streamlined layout and great reliability, hybrid switchgear combines the benefits of air-insulated switchgear (AIS) and gas-insulated switchgear (GIS) and is predicted to fuel the market's growth. This small switchgear solution can also be used to upgrade and expand AIS-based switchgear substations, which will help the gas insulated switchgear market size expand even more.
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Asia Pacific: The tremendous industrialization occurring in nations like Japan, China, India, and South Korea is expected to propel this region's rapid growth during the forecast period. The expansion of the industry is further aided by the expanding investment in distribution and transmission projects throughout developing nations in the Asia Pacific.
North America: Construction of new power plants, the replacement of deteriorating infrastructure, and the expansion of transmission and distribution networks are all ongoing across North America. To ensure effective and dependable electricity transmission and distribution, it fuels the demand for advanced GIS solutions. Also, GIS technology provides reliable and effective transmission and distribution capabilities, enabling the smooth integration of renewable energy generation, such as solar and wind. It fosters an environment that is beneficial for the adoption of the gas insulated switchgear market in North America.
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The Report Answers Questions Such As
Polaris Market Research has segmented gas insulated switchgear market report based on installations, configurations, end-use, insulation, voltage ratings, and region:
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