USD 2.5 billion
Gas Insulated Transformer Market Size, Share, Growth Analysis, By Voltage(Medium Voltage (Up to 72.5 kV), High Voltage (72.5 kV to 220 kV), and Extra High Voltage (Above 220 kV)), By Type(Instrument Transformers, and Others), By Installation(Indoor, and Outdoor), By End User(Utility, Industrial, and Commercial), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45K2107 |
Region:
Global |
Published Date: November, 2024
Pages:
173
|Tables:
64
|Figures:
69
Gas Insulated Transformer Market Insights
Gas Insulated Transformer Market size was valued at USD 3.4 Billion in 2023 and is poised to grow from USD 3.56 Billion in 2024 to USD 5.02 Billion by 2032, growing at a CAGR of 4.6% during the forecast period (2025-2032).
Gas insulated transformers are effective safety devices used as protection against fire and related incidents. These fire safety devices are adopted by essential buildings, underground rail stations, factories, and chemical plants to protect from fire in the worst scenarios. Several key market players are focusing on advancing the capabilities of gas insulated transformers for this they are investing heavily in research and development initiatives to boost the efficiency of devices. Growing urbanization across the world is leading to high energy demand, so for effective power distribution supplies the use of gas insulated transformers is gaining traction. Respective governments across the globe are investing in the development of energy plants due to rising energy demand. All such factors are boosting the overall gas insulated transformer market growth. Technological advancements and innovations in material and manufacturing processes are also expected to offer innovative gas insulated transformers.
Market snapshot - 2024–2031
Global Market Size
Largest Segment
Commercial
Fastest Growth
Instrument Transformers
Growth Rate
5.2% CAGR
Gas Insulated Transformer Market ($ Bn)
Country Share for North America Region (%)
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Gas Insulated Transformer Market Segmental Analysis
Global Gas Insulated Transformer Market is segmented by Voltage, Type, Installation, End User, and region. Based on Voltage, the market is segmented into Medium Voltage (Up to 72.5 kV), High Voltage (72.5 kV to 220 kV), and Extra High Voltage (Above 220 kV). Based on Type, the market is segmented into Instrument Transformers, and Others. Based on Installation, the market is segmented into Indoor, and Outdoor. Based on End User the market is segmented into Utility, Industrial, and Commercial. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Type
The instrument gas insulated transformer segment holds a dominant global market share. This dominance of instrument gas insulated transformers is because of their effectiveness in protecting electrical systems. This also reflects their white spread use and importance in various end-use industries.
Sales of power gas insulated transformers are expected to increase at the fastest CAGR during the study period. Power gas insulated transformers are compact and are widely used in urban settings where space is limited. Their effective design and excellent dielectric properties are also boosting their sales growth. The growing trend of sustainability and strict environmental regulations are further increasing the sales growth of power gas insulated transformers. Other factors such as low maintenance requirements, high voltage applications, and long operational life are boosting the market growth.
Analysis by Application
Commercial gas insulated transformers are currently holding a dominant global market share. The growing use of commercial gas insulated transformers is due to their efficient and reliable role in effective power distribution systems in commercial settings. The dominance of commercial gas insulated transformers also underscores its growing popularity. The operations conducted in commercial establishments require a continuous and reliable power supply to increase and maintain business productivity, power interruptions can result in financial losses associated with downtime. To overcome such issues gas insulated transformers a widely used in commercial settings.
Sales of residential area gas insulated transformers are predicted to boost during the forecasted period at a high pace. Urbanization and population growth are the major reasons for increasing sales of residential area gas insulated transformers. In city areas, the available space is very limited, and the use of traditional transformers is likely to create challenges in providing effective power supply. Manufacturers are focusing on producing compact gas insulated transformers for residential settings. Worldwide, smart city development projects are gaining traction, increasing the need for effective power supply systems. To overcome these problems gas insulated transformers are gaining popularity in residential settings.
Gas Insulated Transformer Market by Voltage
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Gas Insulated Transformer Market Regional Insights
Asia Pacific is a key region boosting overall market growth. Asia Pacific is estimated to hold a major global market share in 2024. Growing industrial activities and rapid urbanization in Asia Pacific are contributing to the high need for an effective electricity supply. For efficient power flow and to avoid any kind of fire incidents gas insulated transformers are widely employed in residential and commercial settings. China and India are major giants propelling sales of gas insulated transformers in the Asia Pacific region.
Gas insulated transformers are likely to evolve at a high pace during the forecast period in North America. North America is a major consumer of electricity. The rapidly increasing electricity market in the United States and Canada is creating profitable opportunities for advanced safety technologies such as gas insulated transformers. The aging power infrastructure and increasing investment in energy projects are boosting sales of gas insulated transformers in North America.
Gas Insulated Transformer Market By Region
- Largest
- Fastest
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Gas Insulated Transformer Market Dynamics
Drivers
High Investments in Grid Modernization
- The rapidly expanding need for energy around the world has resulted in increased grid modernization investments to satisfy the surging energy demand in a reliable and efficient manner. Gas insulated transformers play a crucial role in modern grids for reliable power supply applications, which is why their demand is slated to rise.
Growing Demand for Efficient Power Transmission
- Rapidly expanding global population has bolstered the importance of efficient power transmission infrastructure around the world and this trend is estimated to favor the sales of gas insulated transformers over the coming years.
Restraints
High Initial Investments
- Procurement and installation costs of gas insulated transformers are high and this could slow down the overall market growth across the forecast period. Use of specialized equipment and skilled labor to install gas insulated transformers is what adds up to the costs and limits sales potential.
Regulatory Compliance Issues
- Creating a transformer that is compliant with the modern sustainability mandates is a huge challenge as it requires more investments in R&D. This issue with regulatory compliance is projected to slow down the demand for gas insulated transformers in the long run.
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Gas Insulated Transformer Market Competitive Landscape
Established gas insulated transformer manufacturers should leverage their extensive R&D capabilities and manufacturing expertise to launch innovative products that stand out in the marketplace. Companies can also focus on localizing their manufacturing activity to reduce costs and improve profit margins all while boosting sales as well. Gas insulated transformer market players can also capitalize on new grid modernization initiatives and ride the sustainability wave by incorporating eco-friendly materials in their product. Mergers, collaborations, and partnerships are projected to be popular strategies for companies looking to enhance their global market share.
Top Player’s Company Profiles
- Toshiba Corporation
- Mitsubishi Electric Corporation
- Siemens AG
- ABB Ltd.
- General Electric Company
- Arteche Group
- Meidensha Corporation
- Hyosung Corporation
- Fuji Electric Co., Ltd.
- Nissan Electric Corporation
- Chint Group Corporation
- Takaoka Toko Co., Ltd.
- Yangzhou Power Electric Co., Ltd.
- Kharkovenergopribor Limited Liability Company (LLC)
Recent Developments
- In May 2022, Arteche, a renowned power product supplier, partnered with Hitachi Energy to form a new joint venture to develop novel gas insulated transformers. Arteche held a 51% majority stake in the joint venture that was named Arteche Hitachi Energy Instrument Transformers S.L.
- In June 2021, Meidensha Corporation, a leading name in the gas insulated transformer market collaborated with Toshiba to develop new GIS solutions using natural origin gases with a target to commercialize the same by March 2023.
Gas Insulated Transformer Key Market Trends
- Use of Sustainable Gases: As focus on sustainability increases around the world, this trend is also projected to drastically change the outlook of the power industry as well. Surging demand for eco-friendly transformers and other electrical equipment will push companies to opt for sustainable and eco-friendly gases in their gas insulated transformers.
Gas Insulated Transformer Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our analysis, surging demand for reliable energy supply around the world and high investments in modernization of existing grids to meet modern power demands are key factors that could bolster the demand for gas insulated transformers across the forecast period. Growing urbanization is also estimated to favor sales of gas insulated transformers going forward. However, high costs of procurement and installation are estimated to impede gas insulated transformer market growth potential in the future. High investments in infrastructure development and surging demand for energy by the rapid population growth make the Asia Pacific regional market the biggest one for gas insulated transformer suppliers in the world. Gas insulated transformer market players can utilize eco-friendly gases in their products to comply with modern sustainability mandates and boost growth potential.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 3.2 billion |
| Market size value in 2031 | USD 4.8 billion |
| Growth Rate | 4.6% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Gas Insulated Transformer Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Gas Insulated Transformer Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Gas Insulated Transformer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Gas Insulated Transformer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Gas Insulated Transformer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Gas Insulated Transformer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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