The gas-insulated substation market size has grown rapidly in recent years. It will grow from $24.45 billion in 2024 to $27.05 billion in 2025 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to development of high voltage transmission systems, space constraints and urbanization, demand for reliable power infrastructure, environmental considerations, increased grid complexity.
The gas-insulated substation market size is expected to see rapid growth in the next few years. It will grow to $40.84 billion in 2029 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to regulatory support and environmental concerns, demand for compact and high-efficiency substations, focus on grid resilience and reliability, increasing grid modernization initiatives, transition towards renewable energy. Major trends in the forecast period include product innovations, technological advancements, rising focus on grid reliability, integration of renewable energy, technological advancements in GIS.
The rising demand for clean energy is anticipated to drive the growth of the gas-insulated substation market. Clean energy refers to electricity generated from renewable, zero-emission sources that do not pollute the atmosphere during use, as well as energy saved through power efficiency measures. For instance, the 245 kV voltage level is crucial for European high-voltage grid solutions, with SF6-free gas-insulated substations at this voltage being essential for decarbonizing the high-voltage grid. In 2023, a report from the U.S. Energy Information Administration (EIA) noted that utility-scale electricity generation from hydropower in the U.S. reached 240 billion kWh, accounting for 5.7% of the total energy share. Therefore, the increasing demand for clean energy is propelling the growth of the gas-insulated substation market.
The increasing trend of urbanization is anticipated to drive the growth of the gas-insulated substation market. Urbanization refers to the process of city expansion and the movement of more people into urban areas. As cities become more densely populated, the demand for compact, low-maintenance power infrastructure grows, leading to a rise in the use of gas-insulated substations. For example, in April 2022, the World Economic Forum, a Switzerland-based independent international organization, reported that over 4.3 billion people, or 55% of the global population, resided in urban areas, with projections suggesting this figure could reach 80% by 2050. Therefore, rising urbanization is fueling the growth of the gas-insulated substation market.
The gas-insulated substation market is witnessing a key trend in product innovation, with major companies dedicated to developing advanced solutions. Toshiba, a Japan-based electronics company, exemplifies this trend with the launch of the 72kV GIS. This innovative product serves as a replacement for equipment at TEPCO PG's Fuchu Substation and integrates circuit breakers, transmission system switches, lightning arresters, and instrument transformers. The 72kV GIS utilizes a synthetic air blend of nitrogen and oxygen as its insulating medium, offering safety and environmental benefits in case of a leak.
Major companies in the gas-insulated substation market are concentrating on developing gas-insulated substations (GIS) that incorporate g3 technology to lower greenhouse gas emissions and minimize the environmental impact of electrical infrastructure. g³ technology is an innovative gas mixture created as an environmentally friendly alternative to sulfur hexafluoride (SF₆), which is commonly used for insulation and switching in GIS. For example, in August 2024, GE Vernova Inc., a US-based company, launched a 245 kV SF6-free gas-insulated substation (GIS). The B105 GIS utilizes g3 gas as a substitute for sulfur hexafluoride (SF₆), which has a global warming potential 24,300 times greater than that of CO2 equivalent emissions compared to SF₆. This makes it a more eco-friendly option. The installation of this GIS is projected to prevent the release of approximately 20,000 tons of CO2 equivalent into the high-voltage grid, supporting RTE’s sustainability objectives.
In January 2023, AcBel Polytech Inc., a company based in Taiwan, acquired ABB's Power Conversion division for $505 million. This acquisition enables AcBel Polytech to enhance its portfolio by integrating ABB's expertise in gas-insulated substations (GIS). ABB Ltd., headquartered in Switzerland, specializes in providing gas-insulated substations (GIS).
Major companies operating in the gas-insulated substation market are Hitachi Ltd., Larsen & Toubro Limited, Eaton Corporation PLC, CG Power and Industrial Solutions Limited, Schneider Electric SE, Bharat Heavy Electricals Limited, Elsewedy Electric Co S.A.E., Powell Industries Inc., Hyosung Corporation, Fuji Electric Co. Ltd., Hyundai Heavy Industries Co. Ltd., ABB Ltd., Siemens AG, Toshiba Corporation, General Electric, Mitsubishi Electric Corporation, Tbea Co. Ltd., Entec Electric & Electronic Co. Ltd., ILJIN Electric, Nissin Electric, Meidensha Corporation, LUCY ELECTRIC INDIA PRIVATE LIMITED, Chint Group, SEL S.P.A., ERICO International Corporation.
Asia-Pacific was the largest region in the gas-insulated substation market share in 2024, and is expected to be the fastest-growing region in the forecast period. The regions covered in the gas-insulated substation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the gas-insulated substation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A gas-insulated substation is a high-voltage substation that utilizes sulfur hexafluoride gas as the insulating medium at moderate pressure for phase-to-phase and phase-to-ground insulation. The primary conducting structures are enclosed within a sealed environment.
The main voltages in the gas-insulated substation market are categorized as medium voltage, high voltage, and extra high voltage. Medium voltage typically refers to voltages above 1 kV and commonly extends up to and including 52 kV. These substations are installed both indoors and outdoors and serve various applications, including power transmission, power distribution, and power generation. They are utilized by different end-users, including power utilities, the industrial sector, and the commercial and residential sectors.
The gas-insulated substation market research report is one of a series of new reports that provides gas-insulated substation market statistics, including global market size, regional shares, competitors with a gas-insulated substation market share, detailed gas-insulated substation market segments, market trends and opportunities, and any further data you may need to thrive in the gas-insulated substation industry. This gas-insulated substation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The gas-insulated substation market consists of sales of regular HV components which include disconnections, CBs, bus bars, voltage, and cutting-edge transducers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The gas-insulated substation market size is expected to see rapid growth in the next few years. It will grow to $40.84 billion in 2029 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to regulatory support and environmental concerns, demand for compact and high-efficiency substations, focus on grid resilience and reliability, increasing grid modernization initiatives, transition towards renewable energy. Major trends in the forecast period include product innovations, technological advancements, rising focus on grid reliability, integration of renewable energy, technological advancements in GIS.
The rising demand for clean energy is anticipated to drive the growth of the gas-insulated substation market. Clean energy refers to electricity generated from renewable, zero-emission sources that do not pollute the atmosphere during use, as well as energy saved through power efficiency measures. For instance, the 245 kV voltage level is crucial for European high-voltage grid solutions, with SF6-free gas-insulated substations at this voltage being essential for decarbonizing the high-voltage grid. In 2023, a report from the U.S. Energy Information Administration (EIA) noted that utility-scale electricity generation from hydropower in the U.S. reached 240 billion kWh, accounting for 5.7% of the total energy share. Therefore, the increasing demand for clean energy is propelling the growth of the gas-insulated substation market.
The increasing trend of urbanization is anticipated to drive the growth of the gas-insulated substation market. Urbanization refers to the process of city expansion and the movement of more people into urban areas. As cities become more densely populated, the demand for compact, low-maintenance power infrastructure grows, leading to a rise in the use of gas-insulated substations. For example, in April 2022, the World Economic Forum, a Switzerland-based independent international organization, reported that over 4.3 billion people, or 55% of the global population, resided in urban areas, with projections suggesting this figure could reach 80% by 2050. Therefore, rising urbanization is fueling the growth of the gas-insulated substation market.
The gas-insulated substation market is witnessing a key trend in product innovation, with major companies dedicated to developing advanced solutions. Toshiba, a Japan-based electronics company, exemplifies this trend with the launch of the 72kV GIS. This innovative product serves as a replacement for equipment at TEPCO PG's Fuchu Substation and integrates circuit breakers, transmission system switches, lightning arresters, and instrument transformers. The 72kV GIS utilizes a synthetic air blend of nitrogen and oxygen as its insulating medium, offering safety and environmental benefits in case of a leak.
Major companies in the gas-insulated substation market are concentrating on developing gas-insulated substations (GIS) that incorporate g3 technology to lower greenhouse gas emissions and minimize the environmental impact of electrical infrastructure. g³ technology is an innovative gas mixture created as an environmentally friendly alternative to sulfur hexafluoride (SF₆), which is commonly used for insulation and switching in GIS. For example, in August 2024, GE Vernova Inc., a US-based company, launched a 245 kV SF6-free gas-insulated substation (GIS). The B105 GIS utilizes g3 gas as a substitute for sulfur hexafluoride (SF₆), which has a global warming potential 24,300 times greater than that of CO2 equivalent emissions compared to SF₆. This makes it a more eco-friendly option. The installation of this GIS is projected to prevent the release of approximately 20,000 tons of CO2 equivalent into the high-voltage grid, supporting RTE’s sustainability objectives.
In January 2023, AcBel Polytech Inc., a company based in Taiwan, acquired ABB's Power Conversion division for $505 million. This acquisition enables AcBel Polytech to enhance its portfolio by integrating ABB's expertise in gas-insulated substations (GIS). ABB Ltd., headquartered in Switzerland, specializes in providing gas-insulated substations (GIS).
Major companies operating in the gas-insulated substation market are Hitachi Ltd., Larsen & Toubro Limited, Eaton Corporation PLC, CG Power and Industrial Solutions Limited, Schneider Electric SE, Bharat Heavy Electricals Limited, Elsewedy Electric Co S.A.E., Powell Industries Inc., Hyosung Corporation, Fuji Electric Co. Ltd., Hyundai Heavy Industries Co. Ltd., ABB Ltd., Siemens AG, Toshiba Corporation, General Electric, Mitsubishi Electric Corporation, Tbea Co. Ltd., Entec Electric & Electronic Co. Ltd., ILJIN Electric, Nissin Electric, Meidensha Corporation, LUCY ELECTRIC INDIA PRIVATE LIMITED, Chint Group, SEL S.P.A., ERICO International Corporation.
Asia-Pacific was the largest region in the gas-insulated substation market share in 2024, and is expected to be the fastest-growing region in the forecast period. The regions covered in the gas-insulated substation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the gas-insulated substation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A gas-insulated substation is a high-voltage substation that utilizes sulfur hexafluoride gas as the insulating medium at moderate pressure for phase-to-phase and phase-to-ground insulation. The primary conducting structures are enclosed within a sealed environment.
The main voltages in the gas-insulated substation market are categorized as medium voltage, high voltage, and extra high voltage. Medium voltage typically refers to voltages above 1 kV and commonly extends up to and including 52 kV. These substations are installed both indoors and outdoors and serve various applications, including power transmission, power distribution, and power generation. They are utilized by different end-users, including power utilities, the industrial sector, and the commercial and residential sectors.
The gas-insulated substation market research report is one of a series of new reports that provides gas-insulated substation market statistics, including global market size, regional shares, competitors with a gas-insulated substation market share, detailed gas-insulated substation market segments, market trends and opportunities, and any further data you may need to thrive in the gas-insulated substation industry. This gas-insulated substation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The gas-insulated substation market consists of sales of regular HV components which include disconnections, CBs, bus bars, voltage, and cutting-edge transducers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Gas-Insulated Substation Market Characteristics3. Gas-Insulated Substation Market Trends and Strategies4. Gas-Insulated Substation Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, and the Recovery from COVID-19 on the Market32. Global Gas-Insulated Substation Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Gas-Insulated Substation Market34. Recent Developments in the Gas-Insulated Substation Market
5. Global Gas-Insulated Substation Growth Analysis and Strategic Analysis Framework
6. Gas-Insulated Substation Market Segmentation
7. Gas-Insulated Substation Market Regional and Country Analysis
8. Asia-Pacific Gas-Insulated Substation Market
9. China Gas-Insulated Substation Market
10. India Gas-Insulated Substation Market
11. Japan Gas-Insulated Substation Market
12. Australia Gas-Insulated Substation Market
13. Indonesia Gas-Insulated Substation Market
14. South Korea Gas-Insulated Substation Market
15. Western Europe Gas-Insulated Substation Market
16. UK Gas-Insulated Substation Market
17. Germany Gas-Insulated Substation Market
18. France Gas-Insulated Substation Market
19. Italy Gas-Insulated Substation Market
20. Spain Gas-Insulated Substation Market
21. Eastern Europe Gas-Insulated Substation Market
22. Russia Gas-Insulated Substation Market
23. North America Gas-Insulated Substation Market
24. USA Gas-Insulated Substation Market
25. Canada Gas-Insulated Substation Market
26. South America Gas-Insulated Substation Market
27. Brazil Gas-Insulated Substation Market
28. Middle East Gas-Insulated Substation Market
29. Africa Gas-Insulated Substation Market
30. Gas-Insulated Substation Market Competitive Landscape and Company Profiles
31. Gas-Insulated Substation Market Other Major and Innovative Companies
35. Gas-Insulated Substation Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Gas-Insulated Substation Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on gas-insulated substation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for gas-insulated substation? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The gas-insulated substation market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Voltage: Medium Voltage; High Voltage; Extra High Voltage2) by Installation: Indoor; Outdoor
3) by Application: Power Transmission; Power Distribution; Power Generation
4) by End-User: Power Utilities; Industrial Sector; Commercial and Residential Sector
Subsegments:
1) by Medium Voltage: Distribution Substations; Urban and Rural Applications2) by High Voltage: Transmission Substations; Industrial Applications
3) by Extra High Voltage: HVDC (High Voltage Direct Current) Substations; Ultra High Voltage (UHV) Substations
Key Companies Mentioned: Hitachi Ltd.; Larsen & Toubro Limited; Eaton Corporation PLC; CG Power and Industrial Solutions Limited; Schneider Electric SE
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
Some of the major companies featured in this Gas-Insulated Substation market report include:- Hitachi Ltd.
- Larsen & Toubro Limited
- Eaton Corporation PLC
- CG Power and Industrial Solutions Limited
- Schneider Electric SE
- Bharat Heavy Electricals Limited
- Elsewedy Electric Co S.A.E.
- Powell Industries Inc.
- Hyosung Corporation
- Fuji Electric Co. Ltd.
- Hyundai Heavy Industries Co. Ltd.
- ABB Ltd.
- Siemens AG
- Toshiba Corporation
- General Electric
- Mitsubishi Electric Corporation
- Tbea Co. Ltd.
- Entec Electric & Electronic Co. Ltd.
- ILJIN Electric
- Nissin Electric
- Meidensha Corporation
- LUCY ELECTRIC INDIA PRIVATE LIMITED
- Chint Group
- SEL S.P.A.
- ERICO International Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | February 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 27.05 Billion |
| Forecasted Market Value ( USD | $ 40.84 Billion |
| Compound Annual Growth Rate | 10.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 26 |
