Gas Insulated Transformer Market

Global Market Study on Gas Insulated Transformers: Increasing Renewable Energy Generation Projects to Drive Demand

Gas Insulated Transformer Market Segmented By product type such as Instrument Transformer, Power Transformer with installation type such as Outdoor, Indoor

Industry Snapshot

The global gas insulated transformer market experienced Y-o-Y growth of 4.6% in 2021. Persistence Market Research forecasts a CAGR of 5.4% for the sales of gas insulated transformers through 2031, projected to reach a volume of 273,000 units.

East Asia and the Middle East & Africa are collectively expected to account for nearly 45% market share. Also, Canada, Mexico, France, China, ASEAN, and India are expanding markets at high CAGR rates.

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Companies

  • General Electric
  • ABB
  • Siemens AG –Trench Group
  • Arteche
  • Mitsubishi Electric Corporation
  • Toshiba International Corporation
  • NISSIN ELECTRIC Co.,Ltd.
  • Takaoka Toko Co., Ltd.
  • Tatung Co.
  • Bharat Heavy Electricals Limited
  • Sandian Electric

Key Insights Offered in Gas Insulated Transformer Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • New Installations / Sales including Retrofit
  • Assessment of Unit Shipments, Installation, and Assembly Price
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Gas Insulated Transformer Sales and How to Navigate
  • Recommendation on Key Winning Strategies

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Sales Analysis of Gas Insulated Transformers from 2016 to 2020 Vs Market Projections for 2021 to 2031

Historically, from 2016 to 2020, use of gas insulated transformers increased at around 1.8% CAGR, with the U.S., China, India, Brazil, Canada, and Mexico holding significant shares in the global market.

Growing focus on alternative sources for energy generation has been driving transmission projects across the world. Numerous power & transmission projects underway by various regional governments across the world are anticipated to boost demand for gas insulated transformers over the coming years.

Demand for power transformers are expected to hold a larger share of the market during the forecast period. Growth of this segment is attributed to increasing emphasis on renewable energy generation and rising smart grid investments, globally.

In light of this high demand, the global market for gas insulated transformers is slated to increase at a CAGR of 5.4% over the evaluation period of 2021 to 2031.

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What are the Growth Prospects for Manufacturers of Gas Insulated Transformers?

Governments of various economies, in collaboration with power corporations, have established reforms to lessen power losses in transmission and distribution, along with the utilization of eco-friendly gas and materials in the construction of transformers. This factor is likely to push manufacturers to venture more into developing such equipment, leading to savings in transmission.

The market is growing due to considerable increase in power consumption in developing economies as a result of several electrification projects. GITs are being used by a number of countries, particularly for gas insulation substations. GITs can be coupled directly with gas insulated switchgear (GIS), eliminating the need for a separate transformer room. This arrangement gives rise to a gas insulated substation (GISS), a common configuration for inner city applications and in buildings.

Other factors such as increasing investments in transmission and distribution infrastructure, government initiatives aimed at expanding clean energy supply, and growing focus on renewable power generation are expected to drive market growth even more.

Key players are focusing on the introduction of SF6 gas alternative transformers owing to stringent environmental regulations regarding their utilization.

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What are the Stumbling Blocks That Gas Insulated Transformer Suppliers Face?

The average product life of a transformer in operational conditions is between 25 to 30 years, and they need to be tested from time to time to maintain efficiency and avoid operational challenges. Due to lack of maintenance and testing facilities, the failure rate of transformers is increasing due to discrepancies in maintenance.

Though testing facilities are available in developed regions, developing regions lack proper, certified testing personnel, resulting in higher failure rate.

Also, in gas insulated transformers, SF6 (sulphur hexafluoride) gas is used for insulation and cooling. But SF6 is a greenhouse gas and has a global warming potential 23,000 times greater than carbon dioxide, owing to which, many countries are limiting and banning the use of SF6 in heavy industries.

This particular reason has heavily impacted the GIT market negatively. This is anticipated to restrain development of the market in key developing regions.

What is the Regulatory Impact on Global Sales?

A key number of regulatory bodies have prescribed different norms for designing, installation, and usage of insulation material. Environmental regulations regarding the use of sodium hexafluoride content and high cost of equipment are major factors confining the growth of the gas insulated transformer industry.

Various health and safety organizations such as the Occupational Safety and Health Organization (OSHA) have issued the warning regarding the formation of toxic compounds from electrical discharge of sodium hexafluoride gas. Thus, the penetration of alternative gas-based transformers has been rising.

Which Regional Market is Expected to Offer Rich Opportunity to Sell Gas Insulated Transformers?

With an absolute dollar opportunity of around US$ 578.8 Mn, the Middle East & Africa is expected to be the most lucrative market for gas insulated transformer manufacturers. South Africa leads the Middle East & Africa market and is expected to experience significantly higher growth across 2021 to 2031.

Country-wise Analysis

How Big is the Opportunity for Gas Insulated Transformer Manufacturers in the Middle East & Africa?

The report has projected the Middle East & Africa to remain one of the most lucrative markets throughout the course of the forecast period. This regional market is expected to expand significantly due to rise in investments in smart grid technologies and smart cities, and increase in the number of data centers owing to surge in information technology hubs and commercial institutions.

What Makes China One of the Leading Markets for Gas Insulated Transformers in East Asia?

Around 54% of the market in East Asia is acquired by China. The country is all set to be in the driver seat for gas insulated transformers. Availability of cheap labor gives China an enormous advantage to dominate the targeted market in East Asia. China also leads the market because of strong domestic demand and control of manufacturing capacity.

China is one of the most populated countries in the world. Consequently, demand for electricity is high in the country. The government is augmenting their power generation capacities, especially in hydroelectric power projects. This has led to a rise in investments in transmission and distribution sectors to connect renewable energy generation projects to grids. In turn, this is expected to fuel demand for gas insulated transformers in the country.

What is the Strategy of Key Producers of Gas Insulated Transformers in the European Market?

Europe is predicted to hold a market share of more than 10% in the global market. Europe is anticipated to be a rapidly growing market for gas insulated transformers owing to various government initiatives; Europe has proposed a 20:20:20 plan that aims at reducing greenhouse gas emissions, which, in turn, attracts focus on renewable energy, further driving investments in grid infrastructure.

Category-wise Insights

Why are Three-phase Gas Insulated Transformer Leading the Race?

Three-phase gas insulated transformers will continue accounting for more than 50% of global share through the forecast period. This is due to their product characteristics that make them compatible for all types of operations. During the projection tenure, the three-phase segment is expected to fetch over 1.7X growth from the current year.

Which Application Provides Great Opportunity for Gas Insulated Transformer Manufacturers?

Commercial areas are the most lucrative end-use application, representing over 30.6% demand for gas insulated transformers in 2021. Also, industrial plants a43 expected to hold a prominent share in the global market. This is owing to factors such as growing demand for reliable power supply and increase in investments toward power infrastructure.

Competitive Landscape

Majority of companies discussed in the report have focused on product launches and expanding their manufacturing units in developing regions. Strategies include innovation, collaborations with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks.

Similarly, recent developments related to companies manufacturing gas insulated transformers have been tracked by the team at Persistence Market Research, which are available in the full report.

Gas Insulated Transformer Industry Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • The Middle East and Africa

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • Italy
  • France
  • United Kingdom
  • Spain
  • BENELUX
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Australia and New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key Market Segments Covered

  • Configuration
  • Transformer Type
  • Application
  • Rated Voltage
  • Region

Key Companies Profiled

  • General Electric
  • ABB Ltd
  • Siemens AG –Trench Group
  • Arteche
  • Mitsubishi Electric Corporation
  • Toshiba International Corporation
  • NISSIN ELECTRIC Co., Ltd
  • Takaoka Toko Co., Ltd.
  • Tatung Co.
  • Bharat Heavy Electricals Limited
  • Hyosung Heavy Industries Corp.

Pricing

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Key Segments Covered in Gas Insulated Transformer Industry Research

By Configuration

  • Single-phase Gas Insulated Transformers
  • Three-phase Gas Insulated Transformers

By Transformer Type

  • Current Gas Insulated Transformers
  • Instrument Gas Insulated Transformers
  • Power Gas Insulated Transformers

By Application

  • Commercial Gas Insulated Transformers
    • Hotels
    • Underground & Indoor Substation
    • Shopping Areas
    • Schools & Hospitals
  • Civic Infrastructure Gas Insulated Transformers
    • Traffic Systems
    • Water Supply & Treatment Stations
    • Tunnels
  • Industrial Plant Gas Insulated Transformers
    • Energy
    • Manufacturing
    • Mining & Metallurgy
  • Residential Area Gas Insulated Transformers

By Rated Voltage

  • Up to 22 kV Gas Insulated Transformers
  • Up to 33 kV Gas Insulated Transformers
  • Up to 66 kV Gas Insulated Transformers
  • Up to 77 kV Gas Insulated Transformers
  • 120 to 140 kV Gas Insulated Transformers
  • 150 to 250 kV Gas Insulated Transformers
  • 300 to 500 kV Gas Insulated Transformers
  • 550 to 800 kV Gas Insulated Transformers
  • 900 kV to 1 MV Gas Insulated Transformers
  • 2 to 5 MV Gas Insulated Transformers
  • 5 to 20 MV Gas Insulated Transformers

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  • What research methodology is followed by Persistence Market Research?

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  • What are the sources of secondary research?

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Media Release

- FAQs -

The global gas insulated transformer market is currently valued at over US$ 3.54 Bn.
From 2016 to 2020, demand for gas insulated transformers increased at a CAGR of 1.6%.
Sales of gas insulated transformers are projected to increase at 5.4% CAGR and account for 273,000 units by 2031.
SIEMENS AG, General Electric, Mitsubishi Electric, ABB, and Hyosung Heavy Industries Corp are the top 5 gas insulated transformer manufacturers accounting for around 46% market share, as per ratings on the basis of market share, market reach, clientele, etc.
The market for gas insulated transformers in Europe is set to progress at around 4.9% CAGR over the decade.
Investments in production facilities and product development specific to the renewable energy domain are key trends to look out for.
The U.S., Japan, Germany, and South Korea are key producers as well as exporters of gas insulated transformers.
As of 2021, Japan and South Korea hold a combined market share of 8%.
The global gas insulated transformer market is currently valued at over US$ 3.54 Bn.
From 2016 to 2020, demand for gas insulated transformers increased at a CAGR of 1.6%.
Sales of gas insulated transformers are projected to increase at 5.4% CAGR and account for 273,000 units by 2031.
SIEMENS AG, General Electric, Mitsubishi Electric, ABB, and Hyosung Heavy Industries Corp are the top 5 gas insulated transformer manufacturers accounting for around 46% market share, as per ratings on the basis of market share, market reach, clientele, etc.
The market for gas insulated transformers in Europe is set to progress at around 4.9% CAGR over the decade.
Investments in production facilities and product development specific to the renewable energy domain are key trends to look out for.
The U.S., Japan, Germany, and South Korea are key producers as well as exporters of gas insulated transformers.
As of 2021, Japan and South Korea hold a combined market share of 8%.

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