As per Intent Market Research, the HV Gas Insulated Switchgear Market was valued at USD 8.3 billion in 2023 and will surpass USD 12.9 billion by 2030; growing at a CAGR of 6.4% during 2024 - 2030.
The HV Gas Insulated Switchgear (GIS) market plays a critical role in ensuring the reliable and efficient transmission of electricity across grids, particularly in high-voltage environments. GIS is designed to manage high voltage levels in confined spaces, making it ideal for locations with space limitations or where environmental conditions pose challenges to traditional air-insulated switchgear. The growing demand for clean and efficient energy has been a driving factor for the adoption of GIS, especially in the power generation, transmission, and renewable energy sectors. Its ability to operate in diverse and harsh environments, coupled with the demand for more compact and effective solutions for grid management, is expected to propel the market forward.
As the global power grid undergoes modernization to accommodate renewable energy sources and improve grid stability, GIS plays an increasingly important role. The market is also witnessing a shift towards more advanced designs that offer flexibility, reliability, and cost-effectiveness in power distribution networks. The adoption of GIS is expected to rise significantly in both developed and emerging economies, particularly with the ongoing investments in grid infrastructure upgrades and the transition to smart grid systems.
Single Busbar Switchgear is Largest Due to Simplicity and Cost-Effectiveness
Single busbar switchgear is the largest segment in the HV GIS market, primarily due to its simplicity, cost-effectiveness, and reliability in less complex grid systems. The single busbar system is commonly used in applications where reliability is paramount, and the need for high availability is not as critical. It is widely adopted in power generation and distribution facilities where budget constraints exist but operational efficiency must still be maintained.
This type of switchgear allows for the reliable distribution of electricity and offers flexibility in its configuration, making it a popular choice in various power transmission and industrial applications. While it may not provide the same level of redundancy as more complex designs, its cost-effectiveness and ease of installation continue to make it the go-to option for many utilities. As grid networks in both developed and developing regions expand, the demand for single busbar GIS is expected to remain strong, especially in less critical power systems.
Double Busbar Switchgear is Fastest Growing Due to Enhanced Reliability and Flexibility
The double busbar switchgear segment is the fastest-growing in the HV GIS market, driven by its enhanced reliability and flexibility in managing power distribution. This design provides a more robust system, offering redundancy and operational flexibility, which makes it suitable for applications where uninterrupted power supply is essential. The ability to switch between busbars without interrupting the system's operation is a key advantage, especially in power transmission and grid stability applications.
With the increasing integration of renewable energy sources and the push for more resilient power grids, double busbar switchgear is becoming increasingly important. It is particularly favored in industries and utilities that require uninterrupted power supply and enhanced fault tolerance. The rise in demand for more reliable grid systems, combined with the growing need for power factor correction and load management, is expected to drive the adoption of double busbar switchgear in the coming years.
Transmission & Distribution End-Use Is Leading Due to Grid Modernization Efforts
The transmission and distribution end-use industry is leading the HV GIS market, largely driven by efforts to modernize electrical grids and improve power delivery systems. The increasing complexity of power systems, including the integration of renewable energy sources and the need for more flexible and reliable grid management, is pushing utilities to adopt more advanced technologies such as GIS. These systems help utilities maintain grid stability, manage load distribution, and improve operational efficiency.
As global energy infrastructure is being modernized to support both conventional and renewable energy sources, transmission and distribution systems are becoming more reliant on high-quality switchgear solutions. With the increasing focus on grid resilience and reliability, especially in regions with aging infrastructure, the demand for GIS systems in transmission and distribution is expected to rise. This trend is set to continue as utilities look for solutions that can support smart grid technologies and meet future energy demands.
Asia-Pacific is Fastest Growing Region Due to Infrastructure Investments and Renewable Energy Push
Asia-Pacific is the fastest-growing region in the HV GIS market, driven by rapid industrialization, urbanization, and significant investments in energy infrastructure. Countries such as China, India, and Japan are increasing their focus on modernizing electrical grids to support growing energy demands and the integration of renewable energy sources. The region's commitment to reducing carbon emissions and enhancing grid stability has led to increased adoption of GIS technology, particularly in countries aiming to balance power supply with renewable energy generation.
As Asia-Pacific's power transmission and distribution networks expand, the demand for advanced solutions like HV GIS will continue to rise. The region's large-scale infrastructure projects, coupled with a growing need for efficient and reliable power systems, make it a key area for market growth. The push towards smart grids and sustainable energy solutions is expected to further accelerate the adoption of GIS technology, positioning Asia-Pacific as the fastest-growing market for HV gas-insulated switchgear.
Leading Companies and Competitive Landscape
The HV Gas Insulated Switchgear market is characterized by strong competition among key players focused on technological advancements and global expansion. Major players include Siemens, ABB, Schneider Electric, Mitsubishi Electric, and General Electric, who continue to innovate and enhance their product offerings to meet the growing demand for advanced switchgear solutions. These companies are investing in research and development to provide more efficient, compact, and flexible GIS designs to accommodate the evolving needs of power transmission and distribution systems.
The competitive landscape is also shaped by partnerships, mergers, and acquisitions as companies look to strengthen their market presence and expand their product portfolios. With an increasing emphasis on smart grid solutions, renewable energy integration, and grid stability, the leading companies are positioning themselves to capture a larger share of the market by providing cutting-edge solutions that meet the growing demands of the energy sector. As the market continues to grow, these players will remain at the forefront, driving technological innovation and industry growth.
Recent Developments:
- In November 2024, Siemens AG launched a new range of gas-insulated switchgear products, designed for renewable energy integration and improved operational efficiency.
- In October 2024, ABB Ltd. announced a breakthrough in GIS technology, enhancing the compactness and fault tolerance of their HV switchgear systems for use in high-demand power transmission networks.
- In September 2024, General Electric Company unveiled an advanced, modular HV GIS solution aimed at providing scalable, reliable solutions for large industrial applications.
- In August 2024, Mitsubishi Electric Corporation completed a project in Europe involving the deployment of HV GIS systems to support a large-scale renewable energy project.
- In July 2024, Schneider Electric introduced an updated series of HV gas-insulated switchgear, optimized for both grid modernization and the growing demand for energy-efficient power distribution systems.
List of Leading Companies:
- Siemens AG
- ABB Ltd.
- General Electric Company
- Schneider Electric
- Mitsubishi Electric Corporation
- Toshiba Corporation
- Hitachi Energy
- Hyundai Electric & Energy Systems
- Larsen & Toubro Limited
- Bharat Heavy Electricals Limited (BHEL)
- Nari Technology Co., Ltd.
- TBEA Co., Ltd.
- Alstom Grid (now part of GE Grid Solutions)
- Eaton Corporation
- CG Power and Industrial Solutions Limited
Report Scope:
Report Features |
Description |
Market Size (2023) |
USD 8.3 billion |
Forecasted Value (2030) |
USD 12.9 billion |
CAGR (2024 – 2030) |
6.4% |
Base Year for Estimation |
2023 |
Historic Year |
2022 |
Forecast Period |
2024 – 2030 |
Report Coverage |
Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments |
Segments Covered |
HV Gas Insulated Switchgear Market By Type (Single Busbar, Double Busbar, Modular Design), By Voltage Level (Extra High Voltage (Above 800 kV), High Voltage (72.5 kV - 800 kV)), By End-Use (Power Generation, Transmission & Distribution, Renewable Energy, Industrial Applications) |
Regional Analysis |
North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa) |
Major Companies |
Siemens AG, ABB Ltd., General Electric Company, Schneider Electric, Mitsubishi Electric Corporation, Toshiba Corporation, Hitachi Energy, Hyundai Electric & Energy Systems, Larsen & Toubro Limited, Bharat Heavy Electricals Limited (BHEL), Nari Technology Co., Ltd., TBEA Co., Ltd., Alstom Grid (now part of GE Grid Solutions), Eaton Corporation, CG Power and Industrial Solutions Limited |
Customization Scope |
Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements |
1. Introduction |
1.1. Market Definition |
1.2. Scope of the Study |
1.3. Research Assumptions |
1.4. Study Limitations |
2. Research Methodology |
2.1. Research Approach |
2.1.1. Top-Down Method |
2.1.2. Bottom-Up Method |
2.1.3. Factor Impact Analysis |
2.2. Insights & Data Collection Process |
2.2.1. Secondary Research |
2.2.2. Primary Research |
2.3. Data Mining Process |
2.3.1. Data Analysis |
2.3.2. Data Validation and Revalidation |
2.3.3. Data Triangulation |
3. Executive Summary |
3.1. Major Markets & Segments |
3.2. Highest Growing Regions and Respective Countries |
3.3. Impact of Growth Drivers & Inhibitors |
3.4. Regulatory Overview by Country |
4. HV Gas Insulated Switchgear Market, by Type (Market Size & Forecast: USD Million, 2022 – 2030) |
4.1. Single Busbar |
4.2. Double Busbar |
4.3. Modular Design |
5. HV Gas Insulated Switchgear Market, by Voltage Level (Market Size & Forecast: USD Million, 2022 – 2030) |
5.1. Extra High Voltage (Above 800 kV) |
5.2. High Voltage (72.5 kV - 800 kV) |
6. HV Gas Insulated Switchgear Market, by End-Use (Market Size & Forecast: USD Million, 2022 – 2030) |
6.1. Power Generation |
6.2. Transmission & Distribution |
6.3. Renewable Energy |
6.4. Industrial Applications |
7. Regional Analysis (Market Size & Forecast: USD Million, 2022 – 2030) |
7.1. Regional Overview |
7.2. North America |
7.2.1. Regional Trends & Growth Drivers |
7.2.2. Barriers & Challenges |
7.2.3. Opportunities |
7.2.4. Factor Impact Analysis |
7.2.5. Technology Trends |
7.2.6. North America HV Gas Insulated Switchgear Market, by Type |
7.2.7. North America HV Gas Insulated Switchgear Market, by Voltage Level |
7.2.8. North America HV Gas Insulated Switchgear Market, by End-Use |
7.2.9. By Country |
7.2.9.1. US |
7.2.9.1.1. US HV Gas Insulated Switchgear Market, by Type |
7.2.9.1.2. US HV Gas Insulated Switchgear Market, by Voltage Level |
7.2.9.1.3. US HV Gas Insulated Switchgear Market, by End-Use |
7.2.9.2. Canada |
7.2.9.3. Mexico |
*Similar segmentation will be provided for each region and country |
7.3. Europe |
7.4. Asia-Pacific |
7.5. Latin America |
7.6. Middle East & Africa |
8. Competitive Landscape |
8.1. Overview of the Key Players |
8.2. Competitive Ecosystem |
8.2.1. Level of Fragmentation |
8.2.2. Market Consolidation |
8.2.3. Product Innovation |
8.3. Company Share Analysis |
8.4. Company Benchmarking Matrix |
8.4.1. Strategic Overview |
8.4.2. Product Innovations |
8.5. Start-up Ecosystem |
8.6. Strategic Competitive Insights/ Customer Imperatives |
8.7. ESG Matrix/ Sustainability Matrix |
8.8. Manufacturing Network |
8.8.1. Locations |
8.8.2. Supply Chain and Logistics |
8.8.3. Product Flexibility/Customization |
8.8.4. Digital Transformation and Connectivity |
8.8.5. Environmental and Regulatory Compliance |
8.9. Technology Readiness Level Matrix |
8.10. Technology Maturity Curve |
8.11. Buying Criteria |
9. Company Profiles |
9.1. Siemens AG |
9.1.1. Company Overview |
9.1.2. Company Financials |
9.1.3. Product/Service Portfolio |
9.1.4. Recent Developments |
9.1.5. IMR Analysis |
*Similar information will be provided for other companies |
9.2. ABB Ltd. |
9.3. General Electric Company |
9.4. Schneider Electric |
9.5. Mitsubishi Electric Corporation |
9.6. Toshiba Corporation |
9.7. Hitachi Energy |
9.8. Hyundai Electric & Energy Systems |
9.9. Larsen & Toubro Limited |
9.10. Bharat Heavy Electricals Limited (BHEL) |
9.11. Nari Technology Co., Ltd. |
9.12. TBEA Co., Ltd. |
9.13. Alstom Grid (now part of GE Grid Solutions) |
9.14. Eaton Corporation |
9.15. CG Power and Industrial Solutions Limited |
10. Appendix |
A comprehensive market research approach was employed to gather and analyze data on the HV Gas Insulated Switchgear Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the HV Gas Insulated Switchgear Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.
Secondary Research
Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.
Primary Research
Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the E-Waste Management ecosystem. The primary research objectives included:
- Validating findings and assumptions derived from secondary research
- Gathering qualitative and quantitative data on market trends, drivers, and challenges
- Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
- Assessing the supply-side landscape, including technological advancements and recent developments
Market Size Assessment
A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the HV Gas Insulated Switchgear Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:
- Identification of key industry players and relevant revenues through extensive secondary research
- Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
- Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources
Data Triangulation
To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.
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