Gas Insulated Transformer Market Report and Forecast 2024-2032

Market Outlook

According to this report, the gas insulated transformer market size reached a value of USD 2.58 billion in 2023. Aided by the increasing demand for reliable and efficient power distribution systems and the growing applications of gas insulated transformers in various sectors, the market is projected to further grow at a CAGR of 5.1% between 2024 and 2032 to reach a value of USD 4.07 billion by 2032.

Gas insulated transformers are critical components in power distribution systems, offering superior performance and reliability compared to traditional oil-immersed transformers. These transformers are filled with sulphur hexafluoride (SF6) gas, which provides excellent insulation and arc-quenching properties. Gas insulated transformers are widely used in urban areas, industrial plants, and offshore platforms where space constraints and environmental considerations are significant.

The increasing need for reliable and efficient power distribution systems is driving the gas insulated transformer market growth. With the growing demand for electricity and the expansion of power grids, there has been a significant shift towards advanced and efficient transformer technologies, leading to a surge in demand for gas insulated transformers. Additionally, the rising trend of urbanisation and industrialisation has further contributed to the increasing popularity of gas insulated transformers, as they offer a compact and environmentally friendly solution for power distribution.

The expanding applications of gas insulated transformers in various sectors also play a significant role in propelling the market. In the utility sector, gas insulated transformers are used to enhance the reliability and efficiency of power distribution networks. In industrial settings, these transformers are employed to ensure stable and uninterrupted power supply to critical processes. Moreover, the offshore wind energy sector utilises gas insulated transformers for their compact design and high performance in harsh environmental conditions.

Further, the growing awareness of environmental sustainability has led to an increased focus on gas insulated transformers as a viable alternative to oil-immersed transformers. With advancements in gas-insulated technology, modern gas insulated transformers are designed to minimise SF6 emissions and reduce their environmental impact, consequently driving up the gas insulated transformer market share.

Gas insulated transformers are known for their compact and space-efficient design. Unlike traditional oil-immersed transformers, GITs require significantly less space, making them ideal for installation in urban areas and confined spaces. This compact design is particularly advantageous in densely populated cities and industrial plants where space is at a premium.

Advancements in gas-insulated technology have greatly improved the performance and efficiency of gas insulated transformers. Innovations in materials, design, and manufacturing processes have enhanced the dielectric properties, thermal management, and overall reliability of these transformers. These technological improvements have helped to overcome many of the challenges associated with traditional transformer technologies and have positioned gas insulated transformer as a competitive alternative.

The expansion of renewable energy projects, particularly offshore wind farms, is contributing to the demand for gas insulated transformers. These projects require compact and efficient transformers to ensure reliable power transmission in challenging environmental conditions. The use of gas insulated transformer in renewable energy projects is expected to drive market growth in the coming years.

As per the gas insulated transformer market analysis, gas insulated transformers are widely used in utility substations to enhance the reliability and efficiency of power distribution networks. Industrial gas insulated transformers are employed in various industrial settings, including manufacturing plants, chemical processing facilities, and data centres, to ensure stable power supply.

Gas insulated transformers are used in commercial buildings, shopping malls, and office complexes to provide reliable power distribution in urban areas. The renewable energy sector, particularly offshore wind farms, utilises gas insulated transformers for their compact design and high performance in harsh environmental conditions.

Market Segmentation

The market can be divided based on installation, voltage, end use, and region.

Market Breakup by Installation

• Indoor
• Outdoor

Market Breakup by Voltage

• High Voltage (Above 220 KV)
• Medium Voltage (72.5 KV - 220 KV)
• Low Voltage (Up to 72.5 KV)

Market Breakup by End Use

• Industrial
• Commercial
• Utility

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Europe

Competitive landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global gas insulated transformer market. some of the major players explored in the report are as follows:

• Toshiba Corp.
• Siemens AG
• Mitsubishi Electric Corporation
• NISSIN ELECTRIC Co., Ltd.
• Arteche Lantegi Elkartea SA
• Hyosung Heavy Industries
• Takaoka Toko Co., Ltd.
• Meidensha Corporation
• Shihlin Electric & Engineering Corporation
• Others