Gas Insulated Switchgear Market by Voltage (Up to 66 kV, 66 kV - 170 kV, 170 kV - 550 kV, Above 550 kV), by Installation (Indoor, Outdoor), by End User (Utility, Industrial, Commercial, Others), by By Geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) Forecast 2024-2032
The Gas Insulated Switchgear Market size was valued at USD 21.13 USD Billion in 2023 and is projected to reach USD 30.53 USD Billion by 2032, exhibiting a CAGR of 5.4 % during the forecast period. Gas Insulated Switchgear (GIS) is a metal enclosed switchgear where all the electrical components are made inside a high-pressure steel tank with sulfur hexafluoride (SF6) gas used as an insulated media. Some of the real-world uses of GIS include substations in urban and industrial areas, power distribution framework, and incorporation of renewable power resources. Therefore, there are types of GIS such as high voltage (HV), medium voltage (MV), and low voltage (LV) switchgear. Element of GIS include circuit breakers, disconnectors, earthing switches, current transformers, voltage transformers and control panel. Advantages of GIS include small space occupation, high reliability, low cost in maintenance, protection against fire due to the enclosed structure and the fact that SF6 gas used in the GIS is non-flammable. Contemporary tendencies are related to the search for environmentally friendly gaseous insulating materials, the use of advanced digital solutions for grid systems, and modular designs to facilitate installation and potential expansion.
The Gas Insulated Switchgear (GIS) market is experiencing significant growth, driven by a multitude of factors:
Some of the challenges and restraints faced by the market are:
Innovative technologies and trends emerging in the market include:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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