North America Gas Insulated Switchgear Market Size (2024 - 2029)

The North America gas insulated switchgear market is anticipated to experience growth driven by rising investments in transmission and distribution infrastructure. Despite challenges posed by the environmental impact of SF6 gas, opportunities are expected to arise from the integration of renewable energy into national grids. The United States is projected to be the fastest-growing region in this market, reflecting the increasing power demand.

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Market Size of North America Gas Insulated Switchgear Industry

North America Gas Insulated Switchgear Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 6.00 %
Market Concentration Medium

Major Players

North America Gas Insulated Switchgear Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Gas Insulated Switchgear Market Analysis

The North America gas insulated switchgear market is projected to register a CAGR of over 6% during the forecast period.

In 2020, COVID-19 had a detrimental effect on the market. Presently, the market has reached pre-pandemic levels.

  • Over the medium term, increasing investments in transmission and distribution infrastructure are expected to drive the demand for gas-insulated switchgear during the forecast period.
  • On the other hand, SF6 gas used in insulating switchgear is a potent greenhouse gas with a global warming potential that may restrain the market.
  • Nevertheless, plans to integrate renewable energy with the national grids are expected to create a significant amount of opportunity for the players in the North American gas-insulated switchgear market in the near future.
  • The United States is the fastest-growing country in the North American gas-insulated switchgear market during the forecast period. due to the increasing demand for power across the country.

North America 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.

The North American gas-insulated switchgear market is segmented by voltage, end-user, and country. By voltage, the market is segmented into low voltage, medium voltage, and high voltage. By end-user, the market is segmented into power utilities, the industrial sector, commercial, and residential. The report also covers the market size and forecasts for the gas-insulated switchgear market across the countries. For each segment, market sizing and forecasts have been done based on revenue (USD billion).

Voltage
Low Voltage
Medium and High Voltage
End-User
Commercial
Residential
Industrial
Geography
Canada
United states
Mexico
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North America Gas Insulated Switchgear Market Size Summary

The North American gas-insulated switchgear market is poised for significant growth, driven by increasing investments in transmission and distribution infrastructure. This growth trajectory is supported by the recovery from the COVID-19 pandemic, which had previously impacted the market. The demand for gas-insulated switchgear is expected to rise as the region integrates renewable energy sources into national grids, creating substantial opportunities for market players. However, the use of SF6 gas, a potent greenhouse gas, poses environmental challenges that could restrain market expansion. The United States is anticipated to be the fastest-growing country in this market, fueled by rising power demand and ongoing modernization of transmission and distribution networks.

The market landscape is moderately fragmented, with key players such as Schneider Electric SE, Siemens AG, Hitachi ABB Power Grids Ltd., General Electric Company, and Eaton Corporation actively participating. Innovations like Mitsubishi Electric Power Product Company's 72 kV vacuum circuit breaker with dry-air insulation highlight the industry's shift towards environmentally responsible alternatives to SF6 gas. Additionally, government initiatives, such as Canada's Smart Renewables and Electrification Pathways Program, and the U.S. Transmission Facilitation Program, are expected to bolster market growth by supporting grid modernization and expansion projects. These developments underscore the increasing importance of gas-insulated switchgear in meeting the evolving energy demands across North America.

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North America 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 2028

    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 Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Voltage

      1. 2.1.1 Low Voltage

      2. 2.1.2 Medium and High Voltage

    2. 2.2 End-User

      1. 2.2.1 Commercial

      2. 2.2.2 Residential

      3. 2.2.3 Industrial

    3. 2.3 Geography

      1. 2.3.1 Canada

      2. 2.3.2 United states

      3. 2.3.3 Mexico

North America Gas Insulated Switchgear Market Size FAQs

The North America Gas Insulated Switchgear Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Schneider Electric SE, Eaton corporation, Siemens AG, Hitachi ABB Power Grids Ltd and General Electric Company are the major companies operating in the North America Gas Insulated Switchgear Market.

North America Gas Insulated Switchgear Report Snapshots

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