What is Global High Voltage Gas Insulated Switchgear (GIS) Market?
The Global High Voltage Gas Insulated Switchgear (GIS) Market is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of the High Voltage Gas Insulated Switchgear (GIS) market with detailed market segmentation by type, application, and geography. The global High Voltage Gas Insulated Switchgear (GIS) market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading High Voltage Gas Insulated Switchgear (GIS) market players and offers key trends and opportunities in the market.
72 KV to 550KV, 36 KV to 72.5KV, Above 550 KV in the Global High Voltage Gas Insulated Switchgear (GIS) Market:
The Global High Voltage Gas Insulated Switchgear (GIS) Market is segmented based on voltage range into three categories: 72 KV to 550KV, 36 KV to 72.5KV, and Above 550 KV. The 72 KV to 550KV segment holds the largest market share due to its wide usage in various industries. These switchgears are primarily used in power distribution and transmission. The 36 KV to 72.5KV segment is expected to grow at a significant rate due to its increasing usage in renewable energy systems. The Above 550 KV segment is anticipated to witness steady growth due to its application in high voltage direct current (HVDC) systems.
Power Plant, Factory, Others in the Global High Voltage Gas Insulated Switchgear (GIS) Market:
The High Voltage Gas Insulated Switchgear (GIS) is extensively used in various areas such as Power Plants, Factories, and others. In Power Plants, these switchgears are used to control, protect and isolate electrical equipment. In Factories, they are used to ensure the safety of the equipment and the workers by preventing electrical faults. Other applications of High Voltage Gas Insulated Switchgear (GIS) include its usage in commercial buildings, industries, and utilities. The increasing demand for electricity and the need for efficient power distribution is expected to drive the growth of the High Voltage Gas Insulated Switchgear (GIS) market.
Global High Voltage Gas Insulated Switchgear (GIS) Market Outlook:
The global High Voltage Gas Insulated Switchgear (GIS) market has shown significant growth in recent years and is projected to continue this trend in the coming years. In 2022, the market was valued at US$ 5221.4 million and is expected to reach US$ 6707.9 million by 2029, growing at a CAGR of 3.6% during the forecast period 2023-2029. The 72 KV to 550KV segment dominated the market in 2019, accounting for approximately 86% of the global market. The Asia-Pacific region held the largest market share in 2019, accounting for 55.00% of the global sales. This growth can be attributed to the increasing demand for electricity and the rapid industrialization in this region.
| Report Metric | Details |
| Report Name | High Voltage Gas Insulated Switchgear (GIS) Market |
| Accounted market size in 2022 | US$ 5221.4 in million |
| Forecasted market size in 2029 | US$ 6707.9 million |
| CAGR | 3.6% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | ABB, Siemens, GE, Hyosung Heavy Industries, Hitachi, Mitsubishi, Fuji Electric, Hyundai Electric, CG, Shandong Taikai, XD Electric, Pinggao Electric, Sieyuan, NHVS, Tbea, CHINT Group |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
