The latest published study of the analyst reports the global gas insulated transformer market size reached around US$3.2 Bn in 2022. Consistently rising energy demands from all over the globe, an increasing number of electrification programs, and greater emphasis of governments on micro and smart grid projects provide a collective impetus to the growth of market, says the report. Poised to demonstrate over 1.3x revenue growth between the years of forecast, i.e., 2022 and 2029, the market will most likely reach US$4.4 Bn in 2029. The moderate growth forecast of 4.6% in the report is clearly attributable to rapid expansion of gas insulated substation infrastructure that mainly involves integration of the conventional grid integration with renewable energy. The study also marks the various initiatives around making rural electrification affordable as another strong factor expected to drive the growth of market during the assessment period.
Single-phase Technology Sought-after, Utility Sector Records Maximum Demand
Based on the end use analysis, the utility segment will continue to lead the gas insulated transformer market through the end of 2029. Accounting for over a lion’s share of over 79% in the market, this segment is expected to surge ahead on the back of climbing investments in electrification infrastructure, and the growing need for power supply security. In terms of the type of transformer, step-up transformers are likely to lead their way in the market as they tend to overcome the space constraints. On the other hand, based on the preferred technology, primacy of the single-phase category is projected to remain intact with more than 62% share in the overall market revenue. In addition, the report indicates the promising growth outlook for the other two technology-based categories of the market, i.e., two-phase, and poly-phase.Rapid Growth of Renewable Energy Sector Upholds Asia Pacific as the Top Market
Spearheaded by China, and India, Asia Pacific’s gas insulated transformer market represents the most profitable pocket. The two key markets across Asia Pacific are expected to march ahead on account of their primacy in electricity production. The market here will also benefit largely from the phenomenal growth of the renewables sector over the past few decades. The report further marks how the growing rate of coal-fired power plant closures in the region has been setting the stage for gas insulated transformer market. Apart from China, and India, Japan that focuses more on energy security will most likely develop a lucrative market for gas insulated transformer vendors. Moreover, the country’s growing emphasis on building a smart grid infrastructure and adopting energy-efficient technologies will support market expansion. On the other hand, Europe also represents an attractive market. Governments here will play an instrumental role, says the report.Competition Analysis
Besides ABB Ltd., General Electric, and Schnieder Electric SE, the primary report findings identify some other prominent company names that have been profiled under detailed competitive analysis. Mitsubishi Electric Corporation, Toshiba Corporation, Siemens AG, Hyosung Corporation, Fuji Electric, Arteche, and X.D. Group represent the profiled players steering the competition landscape of global gas insulated transformer industry. Several companies are poised to eye the opportunities emerging with increasing demand for gas insulated transformers across the medium- and high-voltage application areas, which prominently include chemical, thermal, and hydroelectric power plants, public water utilities, underground shopping malls, as well as commercial trade centers sprouting across rapidly urbanizing markets.Table of Contents
1. Executive Summary1.1. Global Gas Insulated Transformer (GIT) Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.2.4. Economic Trends
2.3. Value Chain Analysis
2.4. SWOT Analysis
2.5. Porter’s Five Forces Analysis
2.6. COVID-19 Impact
2.6.1. Supply Chain
2.6.2. End User Customer Impact Analysis
3. Gas Insulated Substation - Cost Breakup Analysis
4. Global Gas Insulated Transformer (GIT) Market Outlook, 2018 - 2029
4.1. Global Gas Insulated Transformer (GIT) Market Outlook, by Configuration, Value (US$ Mn), 2018 - 2029
4.1.1. Key Highlights
4.1.1.1. Single-phase
4.1.1.2. Two-phase
4.1.1.3. Poly-phase
4.1.2. BPS Analysis/Market Attractiveness Analysis, by Configuration
4.2. Global Gas Insulated Transformer (GIT) Market Outlook, by Type, Value (US$ Mn), 2018 - 2029
4.2.1. Key Highlights
4.2.1.1. Step-up Transformer
4.2.1.2. Step-down Transformer
4.2.2. BPS Analysis/Market Attractiveness Analysis, by Type
4.3. Global Gas Insulated Transformer (GIT) Market Outlook, by End Use, Value (US$ Mn), 2018 - 2029
4.3.1. Key Highlights
4.3.1.1. Utility
4.3.1.2. Non-utility
4.2.2. BPS Analysis/Market Attractiveness Analysis, by End Use
4.4. Global Gas Insulated Transformer (GIT) Market Outlook, by Region, Value (US$ Mn), 2018 - 2029
4.4.1. Key Highlights
4.4.1.1. North America
4.4.1.2. Europe
4.4.1.3. Asia Pacific
4.4.1.4. Rest of the World
4.4.2. BPS Analysis/Market Attractiveness Analysis, by Region
5. North America Gas Insulated Transformer (GIT) Market Outlook, 2018 - 2029
5.1. North America Gas Insulated Transformer (GIT) Market Outlook, by Configuration, Value (US$ Mn), 2018 - 2029
5.1.1. Key Highlights
5.1.1.1. Single-phase
5.1.1.2. Two-phase
5.1.1.3. Poly-phase
5.2. North America Gas Insulated Transformer (GIT) Market Outlook, by Type, Value (US$ Mn), 2018 - 2029
5.2.1. Key Highlights
5.2.1.1. Step-up Transformer
5.2.1.2. Step-down Transformer
5.3. North America Gas Insulated Transformer (GIT) Market Outlook, by End Use, Value (US$ Mn), 2018 - 2029
5.3.1. Key Highlights
5.3.1.1.Utility
5.3.1.2.Non-utility
5.4.North America Gas Insulated Transformer (GIT) Market Outlook, by Country, Value (US$ Mn), 2018 - 2029
5.4.1. Key Highlights
5.4.1.1. U.S. Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
5.4.1.2. Canada Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
6. Europe Gas Insulated Transformer (GIT) Market Outlook, 2018 - 2029
6.1. Europe Gas Insulated Transformer (GIT) Market Outlook, by Configuration, Value (US$ Mn), 2018 - 2029
6.1.1. Key Highlights
6.1.1.1. Single-phase
6.1.1.2. Two-phase
6.1.1.3. Poly-phase
6.2.Europe Gas Insulated Transformer (GIT) Market Outlook, by Type, Value (US$ Mn), 2018 - 2029
6.2.1. Key Highlights
6.2.1.1. Step-up Transformer
6.2.1.2. Step-down Transformer
6.3.Europe Gas Insulated Transformer (GIT) Market Outlook, by End Use, Value (US$ Mn), 2018 - 2029
6.3.1. Key Highlights
6.3.1.1.Utility
6.3.1.2.Non-utility
6.4.Europe Gas Insulated Transformer (GIT) Market Outlook, by Country, Value (US$ Mn), 2018 - 2029
6.4.1. Key Highlights
6.4.1.1. Russia Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
6.4.1.2. Germany Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
6.4.1.3. France Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
6.4.1.4. U.K. Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
6.4.1.5. Italy Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
6.4.1.6. Rest of Europe Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
7. Asia Pacific Gas Insulated Transformer (GIT) Market Outlook, 2018 - 2029
7.1.Asia Pacific Gas Insulated Transformer (GIT) Market Outlook, by Configuration, Value (US$ Mn), 2018 - 2029
7.1.1. Key Highlights
7.1.1.1. Single-phase
7.1.1.2. Two-phase
7.1.1.3. Poly-phase
7.1.2. BPS Analysis/Market Attractiveness Analysis
7.2.Asia Pacific Gas Insulated Transformer (GIT) Market Outlook, by Type, Value (US$ Mn), 2018 - 2029
7.2.1. Key Highlights
7.2.1.1. Step-up Transformer
7.2.1.2. Step-down Transformer
7.3. Asia Pacific Gas Insulated Transformer (GIT) Market Outlook, by End Use, Value (US$ Mn), 2018 - 2029
7.3.1. Key Highlights
7.3.1.1.Utility
7.3.1.2.Non-utility
7.4.Asia Pacific Gas Insulated Transformer (GIT) Market Outlook, by Country, Value (US$ Mn), 2018 - 2029
7.4.1. Key Highlights
7.4.1.1. China Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
7.4.1.2. Japan Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
7.4.1.3. India Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
7.4.1.4. ASEAN Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
7.4.1.5. Rest of Asia Pacific Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
8. Rest of the World (RoW) Gas Insulated Transformer (GIT) Market Outlook, 2018 - 2029
8.1.Rest of the World (RoW) Gas Insulated Transformer (GIT) Market Outlook, by Configuration, Value (US$ Mn), 2018 - 2029
8.1.1. Key Highlights
8.1.1.1. Single-phase
8.1.1.2. Two-phase
8.1.1.3. Poly-phase
8.2. Rest of the World (RoW) Gas Insulated Transformer (GIT) Market Outlook, by Type, Value (US$ Mn), 2018 - 2029
8.2.1. Key Highlights
8.2.1.1. Step-up Transformer
8.2.1.2. Step-down Transformer
8.3. Rest of the World (RoW) Gas Insulated Transformer (GIT) Market Outlook, by End Use, Value (US$ Mn), 2018 - 2029
8.3.1. Key Highlights
8.3.1.1. Utility
8.3.1.2. Non-utility
8.4.Rest of the World (RoW) Gas Insulated Transformer (GIT) Market Outlook, by Country, Value (US$ Mn), 2018 - 2029
8.4.1. Key Highlights
8.4.1.1. Saudi Arabia Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
8.4.1.2. Brazil Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
8.4.1.3. UAE Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
8.4.1.4. Kuwait Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
8.4.1.5. Others Gas Insulated Transformer (GIT) Market, Value (US$ Mn), 2018 - 2029
9. Competitive Landscape
9.1. Company Market Share Analysis, 2018
9.2. Strategic Collaborations
9.3. Company Profiles
9.3.1. Siemens AG
9.3.1.1. Company Overview
9.3.1.2. Product Portfolio
9.3.1.3. Financial Overview
9.3.1.4. Business Strategies and Development
9.3.2. Toshiba Corporation
9.3.2.1.Company Overview
9.3.2.2. Product Portfolio
9.3.2.3. Financial Overview
9.3.2.4. Business Strategies and Development
9.3.3. Eaton Corporation
9.3.3.1. Company Overview
9.3.3.2. Product Portfolio
9.3.3.3. Financial Overview
9.3.3.4. Business Strategies and Development
9.3.4. ABB Ltd.
9.3.4.1.Company Overview
9.3.4.2.Product Portfolio
9.3.4.3.Financial Overview
9.3.4.4.Business Strategies and Development
9.3.5. GE
9.3.5.1.Company Overview
9.3.5.2.Product Portfolio
9.3.5.3.Financial Overview
9.3.5.4.Business Strategies and Development
9.3.6. Mitsubishi Heavy Industries, Ltd.
9.3.6.1.Company Overview
9.3.6.2.Product Portfolio
9.3.6.3.Financial Overview
9.3.6.4.Business Strategies and Development
9.3.7. Schneider Electric SE
9.3.7.1.Company Overview
9.3.7.2.Product Portfolio
9.3.7.3.Financial Overview
9.3.7.4.Business Strategies and Development
9.3.8. Nissin Electric Co., Ltd.
9.3.8.1.Company Overview
9.3.8.2.Product Portfolio
9.3.8.3.Financial Overview
9.3.8.4.Business Strategies and Development
9.3.9. MEIDENSHA CORPORATION
9.3.9.1.Company Overview
9.3.9.2.Product Portfolio
9.3.9.3.Financial Overview
9.3.9.4.Business Strategies and Development
9.3.10. Exelon Corporation
9.3.10.1.Company Overview
9.3.10.2.Product Portfolio
9.3.10.3.Financial Overview
9.3.10.4.Business Strategies and Development
10. Appendix
10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Siemens AG
- Toshiba Corporation
- Eaton Corporation
- ABB Ltd.
- GE
- Mitsubishi Heavy Industries, Ltd.
- Exelon Corporation
- Nissin Electric Co., Ltd.
- Schneider Electric SE
- MEIDENSHA CORPORATION
Methodology
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