PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1400512
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1400512
HV gas insulated switchgear (GIS) market size is projected to expand at over 8% CAGR from 2023 to 2032. The increasing demand for reliable and efficient power transmission and distribution infrastructure, particularly in urban areas is fueling the adoption of GIS for its compact design and reduced space requirements. The heightened focus on environmental sustainability is driving the need for lower environmental impact technologies compared to traditional switchgears.
Additionally, the ongoing technological advancements, such as digitalization and smart grid initiatives are accelerating the efficiency and automation of power systems using HV gas insulated switchgears. For instance, in September 2022, Hitachi Energy introduced the world's first 420kV SF6-free GIS technology for achieving carbon neutrality goals with an advanced modular prefabricated grid connection solution.
The HV gas insulated switchgear market is segregated into capacity, application, and region.
In terms of capacity, the industry share from the 500 kV segment is projected to rise at substantial CAGR through 2032, owing to the increasing demand for robust and efficient power transmission infrastructure. The growing need for higher capacities to support the intensifying electricity demands and the rising advantages offered by GIS technology in large-scale applications will drive the product uptake.
HV gas insulated switchgear market share from the others segment is estimated to record significant CAGR through 2032, due to the surging requirement for reliable power distribution in diverse sectors. The growing urbanization, industrial expansion, and the integration of renewable energy sources are also contributing to the heightened adoption of HV gas insulated switchgears in various non-offshore wind applications.
Regionally, the Asia Pacific HV gas insulated switchgear industry is slated to expand at rapid pace between 2023 and 2032. This is ascribed to the rapid urbanization, increasing energy demands, and robust infrastructural development. The rising focus on enhancing the power transmission efficiencies along with the growing adoption of renewable energy will fuel the product demand across the region.