Report Overview

Global Gas Insulated Switchgear Market- Industry Trends & Forecast Report 2027

The global gas insulated switchgear market was worth USD 12,800.0 million in 2020. The market is further expected to reach USD 21,413.8 million by 2027 at a CAGR of 7.7% during the forecast period (2021-2027). The rising number of investments across the renewable energy sector has been contributing to the growth of the global gas insulated switchgear market, as the rise in the investment fuel the demand for more energy-efficient electrical equipment for insulation and protection capabilities. Furthermore, growing industrial plans in the U.S., Europe, and Asia Pacific for manufacturing competitiveness and industrial automation may also drive demand for such equipment globally, driving the market for gas insulated switchgear.

Source: BlueWeave Consulting

Global Gas Insulated Switchgear Market Overview

Switchgear is a system consisting of a range of switches, gas insulated switchgear, fuses, transformers, and other equipment used in an electric power system to control, regulate and switch the circuit on and off. Gas-insulated switchgear comes with a sealed enclosure with insulating gas, generally SF6. Nowadays, other gases like compressed clean air, perfluorinated ketone mixture, and others are used being used. Gas-insulated switchgear takes up less space, requires less maintenance, and is more reliable and efficient than air-insulated switchgear; however, the cost of gas-insulated switchgear is 10-40% higher than the cost of air-insulated switchgear. ANSI standards C37.60 and C37.72 and IEEE C37.20.9 are one of the major standards for gas-insulated switchgear. Utilities, transportation, infrastructure, commercial, and residential are some of the major areas of application for gas-insulated switchgear.

Global Gas Insulated Switchgear Market Trend

Growth Drivers

Growing Investments in Renewable Energy  

Investment in renewable energy is growing at a rapid rate with countries increasingly  shifting from fossil fuels towards clean energy generation sources. The investments in the global power sector are projected to enhance and reach USD 820 billion in 2021. According to the recent estimates released by the International Energy Agency, renewable energy sources are expected to approach a record high expansion rate by the end of 2021, with over 219 GW anticipated to become operational in power generation, which can be translated into a 10% jump from the 2020 estimates. Gas insulated switchgear is used extensively in the power utility sector due to the high dielectric constant of SF6 gas, which makes it a very good insulating material. Moreover, it requires less space compared to air-insulated switchgear and require fewer maintenance. All these factors are driving the demand for gas-insulated switchgear, resulting in growth of the gas-insulated switchgear market.

Growing demand for electricity is bolstering the growth of the global gas insulated switchgear market

The demand for electricity and power is increasing by the day. According to the International Energy Agency (IEA), the global energy demand is growing faster than renewables. In its latest semi-annual electricity market report, IEA estimated that the electricity demand will rebound strongly in 2021 and will register an increase of 5% in 2021 and 2022. IEA has also estimated that the energy demand in the Asia-Pacific region would outpace all other regions by 2030 with India outpacing all other nations including the U.S., China, EU, and others. IEA also states that the electricity demand would reach pre-COVID levels by 2023. With surging electricity demand, gas-insulated switchgear (GIS) will likely be in high demand because it lowers the risk of a power outage due to a fault and requires less maintenance. GIS's low space requirement will help to support its growing demand in the coming years.

Restraints

Stringent Environmental and Safety Regulations for Gas Insulated Switchgears

Due to the nature of the application of gas-insulated switchgear (GIS) in various industries, the environmental and safety regulations related to GIS are very stringent. Companies must ensure that the product complies with ASTM, IEEE, IEC, ISO, and other standards, as well as energy consumption, noise level, and machinery operation. Companies also have to pay special attention to the SF6-based gas-insulated switchgear because SF6 is classified as a greenhouse gas, with a greenhouse effect 23,500 times greater than that of the same mass of CO2. The high greenhouse effect of SF6 and stringent regulations are expected to limit the growth of the global gas-insulated switchgear market during the forecast period, as a result of the aforementioned factors.

Global Gas Insulated Switchgear Market - Impact of COVID-19

The COVID-19 induced pandemic has had a negative impact on the growth of the global gas insulated switchgear market. The global health crisis severely impacted the supply chain of the raw materials used in manufacturing switchgears, including the components for bus bars (copper and aluminum), circuit breakers (iron, phosphate, cobalt, steel), surge arresters (copper, alloy) and others. As a result of the semiconductor chipset supply chain disruption, the market for gas insulated switchgear is unlikely to recover at pre-pandemic levels for at least three years, which indicates that critical raw materials have been damaged, limiting growth. As a result of this contraction, the entire market had to undergo some underwhelming supply, demonstrating weak prospects for the global gas-insulated switchgear market.

Global Gas Insulated Switchgear Market: By Insulation

Based on insulation, the global gas insulated switchgear market is segmented into SF6 and SF6-Free. The SF6 segment accumulated the leading market share in the global gas insulated switchgear market in 2020. The SF6 – Free gas insulated switchgear is regarded as an eco-friendly alternative to the SF6 switchgear for protecting the devices and high voltages shocks. The rising number of renewable energy projects across the North American region is indicative of the due emphasis laid on renewable energy for sustainable living. Biden administration is earmarking USD 350 billion into clean energy initiatives that may drive the demand for SF6 Free gas-insulated switchgear, thereby driving the market’s growth.

Source: BlueWeave Consulting

Global Gas Insulated Switchgear Market: By Installation

Based on installation, the global gas insulated switchgear market is segmented into indoor and outdoor gas insulated switchgear market. The outdoor segment accounted for the larger share in the global gas insulated switchgear market in 2020. According to the European Commission, the EU plans to allocate USD 360 billion under the European Fund for Strategic Investment (EFSI) to improve SME jobs, long-term economic growth, and business infrastructure, which may increase demand for electricity supply over the next three years. As a result, there has been an increase in demand for indoor gas insulated switchgear (GIS), which has proven to be a better alternative to outdoor GIS due to the maintenance and time-consuming operational capability, thereby increasing demand for indoor GIS at upcoming substations projects across Europe and driving the global gas insulated switchgear market growth.
 

Global Gas Insulated Switchgear Market: Regional Insights

Based on geography, the global gas insulated switchgear market is categorized into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The Asia-Pacific accounted for the largest share in the global gas insulated switchgear market in 2020. North America, on the other hand, is catching up with a spectacular growth rate. According to the recent estimates released by the U.S. Energy Information Administration, the United States has been experiencing a rise in spending on the development of electric transmission systems. The investment includes operational activity and maintenance of these systems as well. The increase has recorded a jump of about 3% from 2018-2019 to reach USD 40.1 billion in 2019. Since the investment may fuel the demand for transformers, the demand for electricity supply may also increase. As switchgear helps in the protection of the unaffected components by isolating them from the short-circuited components to maintain the power supply, the demand for such equipment may also increase, thereby positively impacting the growth of the global gas insulated switchgear market.

Global Gas Insulated Switchgear Market - Competitive Landscape

Some of the key players in the global gas insulated switchgear market are Siemens AG, Schneider Electric SE, Eaton Corporation Plc, General Electric Company, Hitachi Ltd., Toshiba Corporation, ABB Ltd., Mitsubishi Electric Corporation, Huayi Electric Co., Ltd., Fuji Electric Co., Ltd., Meidensha Corporation, Henan Pinggao Electric Co., Ltd., Nissin Electric Co. Ltd., Hyosung Heavy Industries Co. Ltd., Entec Electric & Electronic Co., Ltd., Switchgear Company, LS Electric Co. Ltd., CG Power and Industrial Solutions Limited, Hyundai Heavy Industries, BGR Energy Systems Limited, Sieyuan Electric Co. Ltd. and other prominent players. The global gas-insulated switchgear market is a consolidated market with a handful of players holding the majority of the market share. Due to this consolidation, the larger players can alter the prices of their products and maintain some power in the market.

Recent Development

• In October 2021, The Grid Solutions business of GE Renewable Energy (NYSE: GE) and Hitachi ABB Power Grids Ltd. announced a non-exclusive cross-licensing agreement for the use of an alternate gas to sulfur hexafluoride (SF6) in high voltage equipment. When compared to SF6, this fluoronitrile-based gas mixture has a much lower environmental impact.

Scope of the Report

By Insulation Type

• SF6
• SF6-Free

By Voltage

• 0-36 KV
• 36-72.5 KV
• 72.5-220 KV
• Above 220 KV

By Installation

• Indoor Gas Insulated Switchgears
• Outdoor Gas Insulated Switchgears

By End-user

• Power Utilities
• Commercial
• Residential
• Industrial
• Manufacturing & Processing
• Infrastructure & Transportation
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East & Africa

1. Research Framework

1.1. Research Objective

1.2. Product Overview

1.3. Market Segmentation

2. Research Methodology

2.1. Qualitative Research

2.1.1. Primary and Secondary Sources

2.2. Quantitative Research

2.2.1. Primary and Secondary Sources

2.3. Breakdown of Primary Research Respondents

2.3.1. Secondary Research

2.3.2. Primary Research

2.4. Breakdown of Primary Research Respondents, By Industry Participants

2.5. Key Questionnaire asked during Primary Interviews

2.6. Key Primary Responses

2.7. Market Size Estimation

2.8. Assumption for the Study

2.9. Market Breakdown & Data Triangulation

3. Executive Summary

4. Global Gas Insulated Switchgear Market – Industry Insights

4.1. Value Chain Analysis

4.2. DROC Analysis

4.2.1. Growth Drivers

4.2.2. Restraints

4.2.3. Opportunity

4.2.4. Challenges

4.3. Recent Developments / Technical Landscape

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.6. Industry 4.0 and Gas Insulated Switchgear

5. Currents Trends in Gas Insulated Switchgear Market

5.1. North America

5.2. Europe

5.3. Asia-Pacific

5.3. Latin America

5.3. Middle East & Africa

6. Global Gas Insulated Switchgear Market Overview

6.1. Market Size and Forecast

6.1.1. By Value (USD Million), 2017-2027

6.2. Market Share and Forecast

6.2.1. By Insulation Type

6.2.1.1. SF6

6.2.1.2. SF6-Free

6.2.2. By Installation

6.2.2.1. Indoor

6.2.2.2. Outdoor

6.2.3. By Voltage

6.2.3.1. 0 - 36 KV

6.2.3.2. 36 - 72.5 KV

6.2.3.3. 72.5 – 220 KV

6.2.3.4. Above 220 KV

6.2.4. By End-User

6.2.4.1. Power Utilities

6.2.4.2. Commercial

6.2.4.3. Residential

6.2.4.4. Industrial

6.2.4.5. Manufacturing & Processing

6.2.4.6. Infrastructure & Transportation

6.2.4.7. Others

6.2.5. By Region

6.2.5.1. North America

6.2.5.2. Europe

6.2.5.3. Asia-Pacific

6.2.5.3. Latin America

6.2.5.3. Middle East & Africa

7. North America Gas Insulated Switchgear Market Overview

7.1. Market Size and Forecast

7.1.1. By Value (USD Million), 2017-2027

7.2. Market Share and Forecast

7.2.1.1. Insulation Type

7.2.1.2. Installation

7.2.1.3. Voltage

7.2.1.4. End-User

7.2.1.5. Country

7.2.1.5.1. United States

7.2.1.5.2. Canada

8. Europe Gas Insulated Switchgear Market Overview

8.1. Market Size and Forecast

8.1.1. By Value (USD Million), 2017-2027

8.2. Market Share and Forecast

8.2.1. Insulation Type

8.2.2. Installation

8.2.3. Voltage

8.2.4. End-User

8.2.5. Country

8.2.5.1. Germany

8.2.5.2. France

8.2.5.3. UK

8.2.5.4. Others

9. Asia-Pacific Gas Insulated Switchgear Market Overview

9.1. Market Size and Forecast

9.1.1. By Value (USD Million), 2017-2027

9.2. Market Share and Forecast

9.2.1. Insulation Type

9.2.2. Installation

9.2.3. Voltage

9.2.4. End-User

9.2.5. Country

9.2.5.1. China

9.2.5.2. India

9.2.5.3. Japan

9.2.5.4. Others

10. Latin America Gas Insulated Switchgear Market Overview

10.1. Market Size and Forecast

10.1.1. By Value (USD Million), 2017-2027

10.2. Market Share and Forecast

10.2.1. Insulation Type

10.2.2. Installation

10.2.3. Voltage

10.2.4. End-User

10.2.5. Country

10.2.5.1. Brazil

10.2.5.2. Mexico

10.2.5.3. Others

11. Middle East & Africa Gas Insulated Switchgear Market Overview

11.1. Market Size and Forecast

11.1.1. By Value (USD Million), 2017-2027

11.2. Market Share and Forecast

11.2.1. Insulation Type

11.2.2. Installation

11.2.3. Voltage

11.2.4. End-User

11.2.5. Country

11.2.5.1. Saudi Arabia

11.2.5.2. UAE

11.2.5.3. South Africa

11.2.5.4. Others

12. Competitive Landscape

12.1. List of Key Players and Their Offerings

12.2. Market Share/Ranking Analysis (2020)

12.3. Competitive Benchmarking, By Operating Parameters

13. COVID-19 Impact on Gas Insulated Switchgear Market

14. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *

14.1. General Electric Company

14.2. Siemens AG

14.3. Toshiba Corporation

14.4. ABB Ltd.

14.5. Schneider Electric SE

14.6. Eaton Corporation plc

14.7. Mitsubishi Electric Corporation

14.8. Hitachi Ltd.

14.9. Fuji Electric Co. Ltd.

14.10. Nissin Electric Co. Ltd.

14.11. CG Power and Industrial Solutions Limited

14.12. Powell Industries Inc.

14.13. CAHORS Group

14.14. ENTEC Electric & Electronic Co. Ltd.

14.15. Hyosung Heavy Industries Co. Ltd.   

14.16. SGC Switchgear Company

14.17. Hyundai Heavy Industries Co. Ltd.

14.18. Lucy Group Ltd.

14.19. Meidensha Corporation

15. Key Strategic Recommendations

*Financial details of unlisted companies will be available as per data availability in final deliverable

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Fig 1: Global Gas Insulated Switchgear Market Segmentation

Fig 2: Global Gas Insulated Switchgear Market Size, By Value (USD Million)

Fig 3: Global Gas Insulated Switchgear Market Share (%), By Installation Type, By Value (in %), 2020

Fig 4: Global Gas Insulated Switchgear Market: Value Chain Analysis

Fig 5: GWP and Lifetime in Atmosphere for GHG (Green House Gases)

Fig 6: Porters Five Forces Analysis

Fig 7: Global Gas Insulated Switchgear Market Size, By Value (USD Million), 2017-2027

Fig 8: Global Gas Insulated Switchgear Market Share (%), By Insulation Type, By Value, 2017-2027

Fig 9: Global Gas Insulated Switchgear Market Share (%), By Installation, By Value, 2017-2027

Fig 10: Global Gas Insulated Switchgear Market Share (%), By Voltage, By Value, 2017-2027

Fig 11: Global Gas Insulated Switchgear Market Share (%), By End-User, By Value, 2017-2027

Fig 13: Global Gas Insulated Switchgear Market Share (%), By Geography, By Value, 2017-2027

Fig 14: North America Gas Insulated Switchgear Market Size, By Value (USD Million), 2017-2027

Fig 15: North America Gas Insulated Switchgear Market Share (%), By Insulation Type, By Value, 2017-2027

Fig 16: North America Gas Insulated Switchgear Market Share (%), By Installation, By Value, 2017-2027

Fig 17: North America Gas Insulated Switchgear Market Share (%), By Voltage, By Value, 2017-2027

Fig 18: North America Gas Insulated Switchgear Market Share (%), By End-User, By Value, 2017-2027

Fig 19: North America Gas Insulated Switchgear Market Share (%), By Country, By Value, 2017-2027

Fig 20: Europe Gas Insulated Switchgear Market Size, By Value (USD Million), 2017-2027

Fig 21: Europe Gas Insulated Switchgear Market Share (%), By Insulation Type, By Value, 2017-2027

Fig 22: Europe Gas Insulated Switchgear Market Share (%), By Installation, By Value, 2017-2027

Fig 23: Europe Gas Insulated Switchgear Market Share (%), By Voltage, By Value, 2017-2027

Fig 24: Europe Gas Insulated Switchgear Market Share (%), By End-User, By Value, 2017-2027

Fig 25: Europe Gas Insulated Switchgear Market Share (%), By Country, By Value, 2017-2027

Fig 26: Asia-Pacific Gas Insulated Switchgear Market Size, By Value (USD Million), 2017-2027

Fig 27: Asia-Pacific Gas Insulated Switchgear Market Share (%), By Insulation Type, By Value, 2017-2027

Fig 28: Asia-Pacific Gas Insulated Switchgear Market Share (%), By Installation, By Value, 2017-2027

Fig 29: Asia-Pacific Gas Insulated Switchgear Market Share (%), By Voltage, By Value, 2017-2027

Fig 30: Asia-Pacific Gas Insulated Switchgear Market Share (%), By End-User, By Value, 2017-2027

Fig 31: Asia-Pacific Gas Insulated Switchgear Market Share (%), By Country, By Value, 2017-2027

Fig 32: Latin America Gas Insulated Switchgear Market Size, By Value (USD Million), 2017-2027

Fig 33: Latin America Gas Insulated Switchgear Market Share (%), By Insulation Type, By Value, 2017-2027

Fig 34: Latin America Gas Insulated Switchgear Market Share (%), By Installation, By Value, 2017-2027

Fig 35: Latin America Gas Insulated Switchgear Market Share (%), By Voltage, By Value, 2017-2027

Fig 36: Latin America Gas Insulated Switchgear Market Share (%), By End-User, By Value, 2017-2027

Fig 37: Latin America Gas Insulated Switchgear Market Share (%), By Country, By Value, 2017-2027

Fig 39: Middle East & Africa Gas Insulated Switchgear Market Size, By Value (USD Million), 2017-2027

Fig 40: Middle East & Africa Gas Insulated Switchgear Market Share (%), By Insulation Type, By Value, 2017-2027

Fig 41: Middle East & Africa Gas Insulated Switchgear Market Share (%), By Installation, By Value, 2017-2027

Fig 42: Middle East & Africa Gas Insulated Switchgear Market Share (%), By Voltage, By Value, 2017-2027

Fig 43: Middle East & Africa Gas Insulated Switchgear Market Share (%), By End-User, By Value, 2017-2027

Fig 44: Middle East & Africa Gas Insulated Switchgear Market Share (%), By Country, By Value, 2017-2027

Fig 45: Global Gas Insulated Switchgear Market: Market Share Analysis, Introduction

Fig 46: Global Gas Insulated Switchgear Market Share: Market Share Analysis, 2020

List of Tables

Table 1: Global Gas Insulated Switchgear Market Size, By Insulation Type, By Value (USD Million), 2017-2027

Table 2: Global Gas Insulated Switchgear Market Size, By Installation, By Value (USD Million), 2017-2027

Table 3: Global Gas Insulated Switchgear Market Size, By Voltage, By Value (USD Million), 2017-2027

Table 4: Global Gas Insulated Switchgear Market Size, By End-User, By Value (USD Million), 2017-2027

Table 5: Global Gas Insulated Switchgear Market Size. By Geography, By Value (USD Million), 2017-2027

Table 6: North America Gas Insulated Switchgear Market Size, By Insulation Type, By Value (USD Million), 2017-2027

Table 7: North America Gas Insulated Switchgear Market Size, By Installation, By Value (USD Million), 2017-2027

Table 8: North America Gas Insulated Switchgear Market Size, By Voltage, By Value (USD Million), 2017-2027

Table 9: North America Gas Insulated Switchgear Market Size, By End-User, By Value (USD Million), 2017-2027

Table 10: North America Gas Insulated Switchgear Market Size, By Country, By Value (USD Million), 2017-2027

Table 11: Europe Gas Insulated Switchgear Market Size, By Insulation Type, By Value (USD Million), 2017-2027

Table 12: Europe Gas Insulated Switchgear Market Size, By Installation, By Value (USD Million), 2017-2027

Table 13: Europe Gas Insulated Switchgear Market Size, By Voltage, By Value (USD Million), 2017-2027

Table 14: Europe Gas Insulated Switchgear Market Size, By End-User, By Value (USD Million), 2017-2027

Table 15: Europe Gas Insulated Switchgear Market Size, By Country, By Value (USD Million), 2017-2027

Table 16: Asia-Pacific Gas Insulated Switchgear Market Size, By Insulation Type, By Value (USD Million), 2017-2027

Table 17: Asia-Pacific Gas Insulated Switchgear Market Size, By Installation, By Value (USD Million), 2017-2027

Table 18: Asia-Pacific Gas Insulated Switchgear Market Size, By Voltage, By Value (USD Million), 2017-2027

Table 19: Asia-Pacific Gas Insulated Switchgear Market Size, By End-User, By Value (USD Million), 2017-2027

Table 20: Asia-Pacific Gas Insulated Switchgear Market Size, By Country, By Value (USD Million), 2017-2027

Table 21: Latin America Gas Insulated Switchgear Market Size, By Insulation Type, By Value (USD Million), 2017-2027

Table 22: Latin America Gas Insulated Switchgear Market Size, By Installation, By Value (USD Million), 2017-2027

Table 23: Latin America Gas Insulated Switchgear Market Size, By Voltage, By Value (USD Million), 2017-2027

Table 24: Latin America Gas Insulated Switchgear Market Size, By End-User, By Value (USD Million), 2017-2027

Table 25: Latin America Gas Insulated Switchgear Market Size, By Country, By Value (USD Million), 2017-2027

Table 26: Middle East & Africa Gas Insulated Switchgear Market Size, By Insulation Type, By Value (USD Million), 2017-2027

Table 27: Middle East & Africa Gas Insulated Switchgear Market Size, By Installation, By Value (USD Million), 2017-2027

Table 28: Middle East & Africa Gas Insulated Switchgear Market Size, By Voltage, By Value (USD Million), 2017-2027

Table 29: Middle East & Africa Gas Insulated Switchgear Market Size, By End-User, By Value (USD Million), 2017-2027

Table 30: Middle East & Africa Gas Insulated Switchgear Market Size, By Country, By Value (USD Million), 2017-2027

Table 31: List of Key Players and Their Offerings

Table 32: Competitive Benchmarking, by Operating Parameters

Table 33: General Electric Company Business Overview

Table 34: General Electric Company Financial Analysis (USD Million)

Table 35: Siemens AG Business Overview

Table 36: Siemens AG Financial Analysis (USD Million)

Table 37: Toshiba Corporation Business Overview

Table 38: Toshiba Corporation Financial Analysis (USD Million)

Table 39: ABB Ltd. Business Overview

Table 40: ABB Ltd. Financial Analysis (USD Million)

Table 41: Schneider Electric SE Business Overview

Table 42: Schneider Electric SE Financial Analysis (USD Million)

Table 43: Eaton Corporation Plc Business Overview

Table 44: Eaton Corporation Financial Analysis (USD Million)

Table 45: Mitsubishi Electric Corporation Overview

Table 46: Mitsubishi Electric Corporation Financial Analysis (USD Million)

Table 47: Hitachi Ltd. Business Overview

Table 48: Hitachi Financial Analysis (USD Million)

Table 49: Fuji Electric Co., Ltd. Overview

Table 50: Fuji Electric Co., Ltd. Financial Analysis (USD Million)

Table 51:  NISSIN ELECTRIC Co., Ltd.  Overview

Table 52:  NISSIN ELECTRIC Co., Ltd. Financial Analysis (USD Million)

Table 53:  CG Power and Industrial Solutions Limited Overview

Table 54:  CG Power and Industrial Solutions Limited Financial Analysis (USD Million)

Table 55:  Powell Industries Inc. Business Overview

Table 56:  Powell Industries, Inc. Financial Analysis (USD Million)

Table 57: CAHORS Group Business Overview

Table 58: ENTEC electric & electronic co. ltd Business Overview

Table 59: Hyosung Heavy Industries Co. Ltd. Business Overview

Table 60: Hyosung Heavy Industries Co. Ltd.  Financial Analysis (USD Million)

Table 61: SGC Switchgear Company Business Overview

Table 62: Hyundai Electric & Energy System Business Overview

Table 63: Hyundai Electric & Energy System Financial Analysis (USD Million)

Table 64: Lucy Group Ltd. Business Overview

Table 65: Lucy Group Ltd. Financial Analysis (USD Million)

Table 66: Meidensha Corporation Business Overview

Table 67: Meidensha Corporation Financial Analysis (USD Million)