Dublin, March 02, 2023 (GLOBE NEWSWIRE) -- The "Global Gas Insulated Switchgear Market Size, Share & Industry Trends Analysis Report by Installation, Voltage, Configuration, Insulation Type, End-User, Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Gas Insulated Switchgear Market size is expected to reach $33.9 billion by 2028, rising at a market growth of 6.3% CAGR during the forecast period.
Key Market Players
- ABB Group
- Schneider Electric SE
- General Electric (GE) Co.
- Siemens AG
- Eaton Corporation
- Mitsubishi Electric Corporation
- Hitachi, Ltd.
- Fuji Electric Co., Ltd.
- Powell Industries, Inc.
- Hyundai Electric and Energy Systems Co., Ltd.
Fuse, switch, and circuit breaker combined to form switchgear in an electrical power system. The foremost duties of switchgear include isolating, controlling, and preserving and protecting electrical equipment.
This can be connected directly to the reliability of the power source. By disassociating the system in the event of unfavorable conditions, it protects the distribution mechanism while facilitating energy transfer and the incorporation of power-producing units into the grid.
GIS is more reliable, versatile, and environmentally friendly than the conventional air-insulated switchgear and requires less maintenance. They are typically erected on the expansions of industrial plants, offshore platforms, and roofs. The range of GIS is 12 KV circuits to 800 KV systems. This kind of SF6 electrically isolated switchgear is essential for building electrical substations in small spaces.
COVID-19 Impact Analysis
The COVID-19 outbreak resulted in a number of lockdowns, which in turn caused the worldwide economic recession. Due to the lockdown, many production facilities and ongoing projects were stalled and bore fiscal losses as well as the adverse impact of COVID-19.
Throughout the pandemic, producers are unable to produce SF6, which further delayed the creation of gas-insulated switchgear. All ongoing projects involving GIS implementation were severely affected as a result of the shortage of SF6. Because of lower discretionary expenditure, the industrial and commercial sectors also slowed down, which hamper the market for gas-insulated switchgear (GIS).
Market Growth Factors
Increasing Development and Demand of Renewable Energy
The growth of renewable energy is being fueled by numerous government subsidies in more than 130 nations, aggressive net-zero goals set by nations, and increased solar PV and wind competitiveness. New immediate objectives, such as achieving 1,200 GW of combined renewable energy capacity by 2030, have been inspired by China's commitment to becoming carbon neutral by 2060. According to projections, the increase of renewable power in the European Union will exceed what the current National Energy and Climate Plans (NECPs) provide for in 2030.
Numerous Advantages Would Propagate Its General Use
GIS has numerous benefits over a regular substation. First, compared to conventional open substation equipment, GIS has a failure rate that is an order of magnitude lower, and its maintenance cycle can be prolonged. The typical GIS Substation maintenance cycle is about 10 years, with the longest possible interval being 20 to 25 years. The placement of GIS hardware is simple. Typically, it is constructed at the factory and then delivered directly to the location; no further assembly is required. As a result, GIS equipment has become a staple of substation electrical systems and this has made the gas insulated switchgear market a major industry.
Market Restraining Factors
GIS Are More Expensive Than Traditional or Air-Insulated Switchgear
The cost of purchasing is increased by capital expenditure (CAPEX), the production process, and the use of expensive components such as switching elements, circuit breakers, and transformers that must be worked inside a chamber filled with a dielectric gas. As a result of storing everything in one chamber, the equipment's price increased. Cost is more expensive than for conventional substations. It is important to take precautions to prevent dust from getting into the main compartments and causing flashovers.
Scope of the Study
Market Segments Covered in the Report:
By Installation
- Outdoor
- Indoor
By Voltage Rating
- Above 220 kV
- Up to 36 kV
- 37 to 73 kV
- 74 to 220 kV
By Configuration
- Hybrid
- Isolated Phase
- Integrated Three Phase
- Compact GIS
By Insulation Type
- SF6
- SF6 Free
By End-User
- Power Transmission Utilities
- Power Distribution Utilities
- Power Generation Utilities
- Railways & Metros
- Industries & OEM
- Commercial
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/693ah6
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