Fairfield Market Research Gas Insulated Transformer Market Size, Share, Growth, 2029

Gas Insulated Transformer Market

Global Gas Insulated Transformer Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2029 - (By Type Coverage, By Technology Coverage, By End-user Coverage, By Geographic Coverage and By Company)

Published Date: Feb 2023 | Format: | No. of Pages: 161

Industry: Energy & Natural Resources


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Gas Insulated Transformer Market Outlook

Research reveals that the global gas insulated transformer (GIT) market recorded the estimated revenue of over US$3.2 Bn in 2022 and is all set for a CAGR of 4.6%, exceeding US$4.4 Bn toward the end of 2029.

Gas Insulated Transformer Market - Clean Energy Initiatives Serve as Key Growth Driver

The use of environmentally friendly gas and materials in the construction of transformers, as well as steps to reduce power losses in transmission and distribution, have been adopted by governments of many economies. As a result, transmission prices will likely decrease as manufacturers would likely increase their investment in developing such equipment. Due to the huge increase in electricity consumption in developing nations and the numerous electrification programmes, the market for gas insulated transformers (GIT) is growing. Many countries use GITs, especially for substations that offer gas insulation. This is expected to fuel the growth of gas insulated transformer market. These transformers can be linked directly to gas insulated switchgear, therefore there is no need for a transformer room. From this configuration, a gas insulated substation (GIS), a typical design for inner-city applications and structures, is produced. Increasing expenditures in transmission and distribution infrastructure, government initiatives, and other factors are likely to have an even greater impact.

Gas Insulated Transformer Market

Major corporations are focusing on introducing SF6 gas alternative transformers since their use is governed by severe environmental regulations. Additionally, because the gas utilised in gas insulated transformers is neither explosive nor flammable, routine oil checks are no longer required. This makes environmental problems more prominent. In medium- and high-voltage applications, such as underground shopping malls, hydroelectric and thermal power plants, chemical plants, and public water utilities, these transformers are primarily employed. To increase the dependability and security of the power system, they are used for transmission and distribution. The development of infrastructure is supported by numerous government programmes. As a result of the need for consistent power, the market for gas insulated transformers will grow over the course of the projected period.

Gas Insulated Transformer Market - COVID-19 Impact

Due to the negative ramifications of global COVID-19 pandemic, which are already obvious, the gas insulated transformer market experienced considerable growth in 2020. The year 2019 saw an epidemic of the COVID-19 virus, and the World Health Organization (WHO) declared a public health emergency. The expansion of viral outbreak to more than 100 nations has resulted in a large number of fatalities. Significant losses have been experienced by the financial industry, international manufacturing, tourism, exports, and imports. The global economy had earlier shown signals of growth but is now under severe negative pressure. Risks to the already sluggish expansion of the global economy have already escalated as a result of the viral pandemic. Many international organisations claim that the current state of the global economy is the most difficult since the financial crisis.

Gas Insulated Transformer Market - Role of Governments, and Shooting Power Consumption Provide Impetus

Because of regulation and electricity, the use of power has significantly expanded in recent years, supported by rising economies. Companies made adjustments to the transmission and distribution infrastructure to cut down on power losses, and they used effective, eco-friendly methods to build T&D networks and related equipment. Gas insulated transformers (GITs) are widely employed in a variety of applications, most notably for gas insulated substations, which in turn supports the revenue growth of gas insulated transformer market. GITs can be connected directly to gas insulated switchgear, eliminating the need for a separate transformer room. As a result of this planning, a gas insulated substation (GIS), a typical configuration for inner-city applications, and structures, is created.

An increase in government efforts is predicted to stimulate the gas insulated transformer market. To fulfil the rising need for energy, governments all over the world finance various energy plant initiatives. For instance, the Indian government constructed a new gas-insulated substation in Maharashtra, India, in January 2022, marks the Power Transformer News Report. The substation's 300MW capacity is supported by three different sources and channels, with the capacity having an option of being increased up to 700MW. Thus, increased efforts to build gas and power plants are expected to drive the market forward.

Gas Insulated Transformer Market - Step-up Transformer to Grow Strongest by 2029

In terms of type, the global gas insulated transformer market has been segregated into: step-up and step-down transformer. In 2021, step-up transformer dominated the market and is expected to follow the same trend till 2029. In places where the cost of land or the cost of earthwork is high, Step-up transformer can greatly influence the overall investment needed. Step-up Transformer GIS based transformers offer an attractive solution in contaminated and space constraints areas at all voltage levels.

Gas Insulated Transformer Market - Poly-phase Transformer Emerges Lucrative

In terms of configuration, the global gas insulated transformer (GIT) is segmented as single-phase, two-phase, and poly-phase. In 2021, single-phase transformer dominated the market and constituted more than 60% share. Currently, single-phase segment dominates and constitute more than 62.3% of the global gas insulated transformer market in 2021. Strong growth is anticipated for two phase and poly phase transformer with 5.4% and 6.2% CAGR respectively from 2022-2029.

Gas Insulated Transformer Market - The Utility Segment Leads as Investments in Power Supply Take off

In terms of end-user, the market is divided into utility, and no-utility. Utility, non-utility (commercial, and industrial) are the key end use categories under which the gas insulated transformer market has been divided. Utility segment constituted 79.2% share of the global market in 2021. The utility segment is anticipated to hold the highest revenue share in  market for the projected period. Due to the rising need for dependable power supply and rising investments in the infrastructure supporting it, the market for this category is expected to develop over the forecast years. Rapid urbanization and establishing of commercial trade centers are the main factors driving the expansion of the commercial sector in market. The commercial sector's expansion is anticipated to be aided by urbanization and the rise in trade hubs looking for ways to reduce operational costs.

Gas Insulated Transformer Market - Asia Pacific Develops a Hotbed of Opportunities

Currently, Asia Pacific remains the most lucrative market for gas insulated transformer followed by North America, and Europe. In Asia Pacific, India, and China are leading electricity producers, and consumers. Penetration of renewable power and closure of coal-fired power plants is expected to harness the demand for gas insulated transformers in Indian, and Chinese gas insulated transformer markets. The government of India, China, and Japan has shifted its focus towards energy security, smart grid, and energy-efficient technologies. The development of China's power grid would heavily rely on ultra-high voltage (UHV) transmission projects, according to the government. Two of China's main state-owned power transmission utilities, China Southern Power Grid (CSG) and State Grid Corporation of China (SGCC), stated in 2020 that they had chosen 14 projects for development 2020. These projects are anticipated to use high voltage direct current (HVDC) and alternating current (HVAC) technology, and it is anticipated that they will cost US$26.8 Bn to complete. This has paved way for supplier/manufacturers in the market across these nations.

The use of renewable energy is becoming more popular throughout Europe. This has led to massive prospects for GIT manufacturers as a result of power sector reforms involving modifications to the traditional grid infrastructure to align smart grids integration with renewable generation. The Asia Pacific is one of the world's most populous areas. Due to the region's rapid development and urbanisation over the past few years, power demand has increased significantly. As a result, over the same time span, T&D infrastructure investments have drastically expanded. Additionally, as long-distance T&D projects seek to be more ecologically friendly by reducing their negative environmental effects and enhancing safety by constructing subterranean networks and smaller substations, gas insulated transformers are becoming ubiquitous. This is expected to drive the growth of gas insulated transformer market.

Global Gas Insulated Transformer Market: Competitive Landscape

Some of the leading players leading the competition landscape of global gas insulated transformer market players include ABB Ltd., Arteche, Fuji Electric, General Electric, Hyosung Corporation, Mitsubishi Electric Corporation, Schnieder Electric SE, Siemens AG, Toshiba Corporation, and X.D. Group. 

The Global Gas Insulated Transformer Market is Segmented as Below:

By Type Coverage          

  • Step-up Transformer
  • Step-down Transformer

By Technology Coverage

  • Single-phase
  • Two-phase
  • Poly-phase

By End-user Coverage    

  • Utility
  • Non-utility

By Geographical Coverage         

  • North America
    • U.S.
    • Canada
  • Europe
    • Russia
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Rest of the World (RoW)
    • Saudi Arabia
    • Brazil
    • UAE
    • Kuwait
    • Others

Leading Companies   

  • Siemens AG
  • Toshiba Corporation
  • Eaton Corporation
  • ABB Ltd.
  • GE
  • Mitsubishi Heavy Industries, Ltd.
  • Exelon Corporation
  • Nissin Electric Co., Ltd.
  • Schneider Electric SE
  • MEIDENSHA CORPORATION

Inside This Report You Will Find:

1. Executive Summary
2. Market Overview
3. Gas Insulated Substation - Cost Breakup Analysis
4. Global Gas Insulated Transformer (GIT) Market Outlook, 2018 - 2029
5. North America Gas Insulated Transformer (GIT) Market Outlook, 2018 - 2029
6. Europe Gas Insulated Transformer (GIT) Market Outlook, 2018 - 2029
7. Asia Pacific Gas Insulated Transformer (GIT) Market Outlook, 2018 - 2029
8. Rest of the World (RoW) Gas Insulated Transformer (GIT) Market Outlook, 2018 - 2029
9. Competitive Landscape
10. Appendix

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1. Executive Summary
     1.1. 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

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2021

 

2018 - 2021

2022 - 2029 

ValueUS$ Million

 

REPORT FEATURES

DETAILS

Type Coverage

  • Step-up Transformer
  • Step-down Transformer

Technology Coverage

  • Single-phase
  • Two-phase
  • Poly-phase

End-user Coverage

  • Utility
  • Non-utility

Geographical Coverage

  • North America
    • U.S.
    • Canada
  • Europe
    • Russia
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Rest of the World (RoW)
    • Saudi Arabia
    • Brazil
    • UAE
    • Kuwait
    • Others

Leading Companies

  • Siemens AG
  • Toshiba Corporation
  • Eaton Corporation
  • ABB Ltd.
  • GE
  • Mitsubishi Heavy Industries, Ltd.
  • Exelon Corporation
  • Nissin Electric Co., Ltd.
  • Schneider Electric SE
  • MEIDENSHA CORPORATION

Report Highlights

Key Market Indicators, Macro-micro economic impact analysis, Technological Roadmap, Key Trends, Driver, Restraints, and Future Opportunities & Revenue Pockets, Porters 5 Forces Analysis, Historical Trend (2018-2022), Price Trend Analysis, Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Category, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain)

 

FAQs : Gas Insulated Transformer Market

Growing adoption of renewable power followed by rapid upgradation/replacement of traditional and inefficient substations across the globe is expected to drive investments into the global gas insulated transformer market.

COVID-19 pandemic-based lockdown measures have significantly reduced electricity demand in both the commercial and industrial sectors. Non-critical investments have been suspended throughout the sector-from generation to transmission to distribution. This has hampered investments in GIT, thereby hampering sales.

Currently, Asia Pacific remains the most lucrative market for GIT, followed by North America, and later Europe. In Asia Pacific, China, and India are keys nations which are investing heavily in energy security, and rural electrification programs.

In terms of type, step-up transformer segment dominates the global gas insulated transformer market as of 2021.

Global top five players in gas insulated transformer space include GE, Siemens AG, Toshiba Corporation, ABB Ltd., and Eaton Corporation.

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

View Methodology
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