What Has Been The Evolution of the Gas Insulated Transformer Market in Recent Years?
The gas insulated transformer market has seen considerable growth due to a variety of factors.
• The size of the market for gas-insulated transformers has experienced robust expansion in the past few years. Its valuation is predicted to rise from $2.69 billion in 2024 to $2.84 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 5.6%.
The significant growth during the historical period can be traced back to factors such as grid modernization, surging urbanization, outdated infrastructure, integration of renewable energy, and reduction in electrical losses.
What Is the Forecasted Market Size and Growth Rate for The Gas Insulated Transformer Market?
The gas insulated transformer market is expected to maintain its strong growth trajectory in upcoming years.
• The market for gas insulated transformers is projected to expand significantly in the upcoming years, reaching an estimated value of $3.7 billion by 2029 with a compound annual growth rate (CAGR) of 6.8%.
This surge in the forecast period can be linked to factors like compact substations, the electrification of the transport sector, improvements in grid reliability and resilience, the integration of energy storage, and decentralized energy production. Key trends that could shape the future of this market include environment-friendly insulating gases, the application of smart grid technologies, the incorporation of voltage source converters and high-voltage direct current (hvdc), the use of biodegradable insulating materials, and the development of flexible and intelligent transformers.
Which Factors Are Boosting Growth In The Gas Insulated Transformer Market?
The acceleration of the gas-insulated transformer market is anticipated to be fostered by a rise in government-led initiatives. Worldwide governments are pouring resources into various energy plant projects to fulfill the soaring demand for energy. For example, the Power Transformer News Report indicated that the Indian government established a fresh gas-insulated substation in Maharashtra, India, in January 2022. This substation commands a capacity of 300MW, with a potential expansion to 700MW, sustained by three distinct sources and pathways. Consequently, the mounting efforts in the erection of gas and power plants are fueling the expansion of the gas-insulated transformer market.
What Key Areas Define The Segmentation Of The Global Gas Insulated Transformer Market?
The gas insulated transformer market covered in this report is segmented –
1) By Type: Instrument Transformers, Power Transformers, Other Types
2) By Voltage: Medium Voltage (Up to 72.5 kV), High Voltage (72.5 kV to 220 kV), Extra High Voltage (Above 220 kV)
3) By Installation: Indoor, Outdoor
4) By End User: Industrial, Commercial, Other End Users
Subsegments:
1) By Instrument Transformers: Voltage Transformers (VT), Current Transformers (CT)
2) By Power Transformers: High Voltage Power Transformers, Medium Voltage Power Transformers
3) By Other Types: Distribution Transformers, Phase-Shifting Transformers
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How Are Emerging Trends Reshaping The Dynamics Of The Gas Insulated Transformer Market?
Advancements in technology are presently the leading trend gaining traction in the gas-insulated transformer sector. Companies in this industry are concentrating on technological breakthroughs to solidify their market standing. For example, Hitachi Energy, a tech firm based in Switzerland, pioneered the global introduction of the highest-voltage SF6-free switchgear in August 2024; a 420 kV gas-insulated switchgear (GIS) technology. This innovative product, part of their commitment to sustainability and carbon emission reduction, aims to substitute sulfur hexafluoride (SF6), a powerful greenhouse gas, with a more environmentally friendly alternative, drastically reducing the carbon footprint of high-voltage electrical systems.
Who Are the Key Players in the Gas Insulated Transformer Market?
Major companies operating in the gas insulated transformer market include:
• Takaoka Toko Co. Ltd.
• Arteche Group
• Bharat Heavy Electricals Limited
• Chint Group Co. Ltd.
• General Electric Company
• Hyosung Corporation
• KharkovEnergoPribor Ltd.
• Meidensha Corporation
• Mitsubishi Electric Corporation
• Nissin Electric Co. Ltd.
• Shihlin Electric & Engineering Corp.
• Siemens AG
• Tatung Company
• Toshiba Corporation
• Yangzhou Power Electric Co. Ltd.
• ABB Ltd.
• BTW Inc.
• Chem Group Inc.
• Chint Group Corp.
• Eaton Corporation plc
• Elsewedy Electric Co. S.A.E.
• Fuji Electric Co. Ltd.
• Hitachi Ltd.
• Hyundai Heavy Industries Co. Ltd.
• Hyosung Heavy Industries Corp.
• Larsen & Toubro Limited
• Mistras Group Inc.
• Ormazabal Velatia S.L.
• Powell Industries Inc.
• Schneider Electric SE
• Trench Group
• UGL Pty Limited
• Alstom SA
• CG Power and Industrial Solutions Limited
• Efacec Power Solutions
• GE Grid Solutionsv
What Is The Most Dominant Region In The Gas Insulated Transformer Market?
North America was the largest region in the gas-insulated transformer market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gas insulated transformer market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
