India Gas Insulated Switchgear Market Size (2024 - 2029)

The India Gas Insulated Switchgear market is anticipated to experience significant growth, driven by the expansion of the country's electrical grid infrastructure and the increasing demand for gas-insulated substations. Despite the moderate impact of the Covid-19 pandemic, which delayed some transmission and distribution projects, the market is projected to recover and grow. Environmental concerns related to gas leakage in ecologically sensitive areas pose challenges, but the development of SF6-free, eco-friendly switchgears presents a promising opportunity for market expansion.

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Market Size of India Gas Insulated Switchgear Industry

India Gas Insulated Switchgear Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 10.00 %
Market Concentration High

Major Players

India Gas Insulated Switchgear Market Major Players

*Disclaimer: Major Players sorted in no particular order

India Gas Insulated Switchgear Market Analysis

The India Gas Insulated Switchgear market is expected to grow at a CAGR of greater than 10% during the forecast period.

The market was moderately affected by the Covid-19 pandemic, as several large-scale transmission and distribution projects were delayed due to a fall in energy demand and the economic effects of the pandemic. The market is expected to reach its pre-pandemic levels during the forecast period.

  • As India expands its electrical grid infrastructure with several long-distance Transmission and Distribution (T&D) projects, the demand for gas-insulated substations is expected to grow, driving the market during the forecast period.
  • However, as long-distance T&D projects often traverse ecologically sensitive zones, concerns about the environmental impact of gas leakage from gas insulated switchgears and substations is expected to restrain the market during the forecast period.
  • The development and commercialisation of SF6-free environmental-friendly gas insulated switchgears is expected to be a significant growth opportunity for the market during the forecast period.

India Gas Insulated Switchgear Industry Segmentation

Gas-Insulated Switchgear (GIS) is a solid metal encapsulated unit that houses the components such as circuit-breakers and disconnectors, which can be safely operated in confined spaces. GIS are used in various industrial and commercial applications where the land footprint is of importance. The India gas insulated switchgear market is segmented by voltage level (low voltage, medium voltage and high voltage) and end-user (power utilities, industrial, commercial and residential). For each segment, the market sizing and forecasts have been done based on revenue (USD billion)

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India Gas Insulated Switchgear Market Size Summary

The India Gas Insulated Switchgear market is poised for significant growth, driven by the expansion of the country's electrical grid infrastructure and the increasing demand for gas-insulated substations. As India undertakes numerous long-distance transmission and distribution projects, the need for efficient and compact switchgear solutions is expected to rise. However, environmental concerns related to gas leakage in ecologically sensitive areas may pose challenges to market growth. The development of environmentally friendly, SF6-free gas-insulated switchgears presents a promising opportunity for market expansion. The integration of renewable energy sources into the grid further amplifies the demand for grid upgrades, necessitating advanced switchgear solutions to ensure stability and efficiency.

The high-voltage segment, particularly HVDC substation equipment, is anticipated to dominate the market due to its ability to minimize environmental impact in sensitive areas. As India invests in utility-scale renewable energy projects, the demand for HVDC projects and associated substations is expected to grow steadily. Significant investments in transmission projects, such as those by AMP Capital and Sterlite Power, as well as Godrej & Boyce's projects in Mumbai, highlight the robust development in the sector. These initiatives are set to enhance the infrastructure required for power evacuation from renewable energy projects, thereby driving the demand for gas-insulated switchgear. The market is moderately fragmented, with key players including Hitachi Ltd, Schneider Electric SE, General Electric Company, Powell Industries Inc., and Eaton Corporation PLC, all contributing to the competitive landscape.

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India Gas Insulated Switchgear Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

India Gas Insulated Switchgear Market Size FAQs

The India Gas Insulated Switchgear Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)

Hitachi Ltd, Schneider SE, General Electric Company , Powell Industries and Eaton Corporation are the major companies operating in the India Gas Insulated Switchgear Market.

India Gas Insulated Switchgear Report Snapshots

India Gas Insulated Switchgear Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)