Gas insulated switchgear bushing market to reach $986 M by 2031
GIS bushing market will grow from $747 M in 2024 to $986 M by 2031, with a 4.0 % CAGR during the review period.
Image for illustrative purposes
According to a study conducted by Global Info Research, the global gas-insulated switchgear (GIS) bushing market size was valued at $ 747 M in 2024 and is forecast to reach the size of $986 M by 2031 with a CAGR of 4.0 % during review period.
Key factors contributing to this growth include:
- Renewable energy integration: The increasing adoption of renewable energy sources necessitates advanced switchgear solutions to handle variable power inputs efficiently.
- Urbanization and infrastructure development: Rapid urban growth and the expansion of infrastructure projects require compact and reliable switchgear systems, boosting demand for GIS bushings.
- Grid modernization efforts: Upgrades to existing power grids to enhance reliability and efficiency are driving the replacement of outdated equipment with modern GIS technology.
- Environmental regulations: Stricter environmental policies are encouraging the adoption of GIS systems that utilize alternative insulating gases with lower environmental impact.
Industry trends indicate that regions heavily investing in renewable energy and grid modernization – particularly Asia-Pacific and North America – are emerging as key markets.
Key players in this market: ABB, Liyond, Siemens, GE, HUAXIN Insulator, HSP Hochspannungsgeräte, Nanjing Electric Insulator, Nissin Electric, Meidensha Corporation, Arteche, etc.
Source: Open PR
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