Gas-Insulated Switchgear Market to Reach $38.36 Billion, at a 6.5% CAGR by 2031 | MarketsandMarkets™

Delray Beach, FL, Aug. 14, 2026 (GLOBE NEWSWIRE) -- According to MarketsandMarkets, the global Gas-Insulated Switchgear Market size is projected to reach USD 38.36 billion by 2031 from USD 28.00 billion in 2026, at a CAGR of 6.5% during the forecast period. The steady expansion of the global gas-insulated switchgear market underscores the increasing demand for reliable, compact, and efficient power distribution systems, particularly in urban and space-constrained environments. The strong growth trajectory is primarily supported by favorable government policies, increasing investments in power transmission and distribution infrastructure, and the growing need to integrate renewable energy sources amid global decarbonization targets. As countries accelerate electrification and grid modernization efforts to meet net-zero commitments, gas-insulated switchgear is emerging as a critical enabler, particularly in regions with high population density and limited space for conventional substations.

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Gas-Insulated Switchgear Market Size, Share & Forecast:

• 2026 Market Size: USD 28.00 billion
• 2031 Projected Market Size: USD 38.36 billion

• CAGR (2026-2031): 6.5%

• Asia Pacific: Largest region in 2026
• Leading segment by installation: Outdoor
• Fastest-growing segment by insulation type: SF6-free
• Report scope: 275 market data tables, 70 figures, 320 pages

• Major companies: General Electric Company (US), Siemens (Germany), Schneider Electric (France), ABB (Switzerland), Eaton (Ireland), Mitsubishi Electric Corporation (Japan), Toshiba Energy Systems & Solutions Corporation (Japan), Hitachi Ltd. (Japan), Hyundai Electric Co., Ltd. (South Korea), Fuji Electric Co., Ltd. (Japan), CG Power and Industrial Solutions Ltd. (India), Nissin Electric Co., Ltd. (Japan), Meidensha Corporation (Japan), Powell Industries (US), Hyosung Heavy Industries (South Korea), Sieyuan Electric Co., Ltd. (China), CHINT Group (China), Iljin Electric (South Korea), Zhejiang Volcano Electrical Technology Co., Ltd. (China), Henan Pinggao Electric Co., Ltd. (China), XIAN XD SWITCHGEAR ELECTRIC CO., LTD (China), Switchgear Company (Belgium), Elektrobudowa S.A. (Poland), SEL S.p.A. (Italy), and G&W Electric (US).

Why This Market Matters

Gas-insulated switchgear (GIS) is becoming increasingly important as utilities and industries modernize power infrastructure and integrate growing volumes of renewable energy. Its compact design, high reliability, and suitability for space-constrained environments make GIS particularly valuable in densely populated urban areas, high-voltage substations, and modern transmission networks. The shift toward smart grids, electrification, and environmentally sustainable power infrastructure is further strengthening demand for advanced GIS solutions.

Market Overview

The global gas-insulated switchgear market is projected to grow from USD 28.00 billion in 2026 to USD 38.36 billion by 2031, registering a CAGR of 6.5% during 2026–2031. Growth is being driven by grid modernization, renewable energy integration, urbanization, and the need for compact and reliable power distribution systems.

Analyst Perspective

The gas-insulated switchgear market is transitioning from conventional high-voltage equipment toward digitized, compact, and environmentally responsible grid solutions. Utilities are increasingly looking for equipment that can deliver reliability while supporting renewable integration, automation, real-time monitoring, and space optimization. The expansion of smart grids and digital substations is therefore creating significant opportunities for GIS manufacturers and technology providers.

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Segment Analysis

The above 220 kV segment held the largest share of the gas-insulated switchgear market in 2025 primarily because it is essential for high-voltage transmission networks that move large volumes of electricity over long distances with minimal losses. Governments and grid operators are heavily investing in ultra-high voltage (UHV) and extra-high voltage (EHV) infrastructure to support growing electricity demand, large-scale renewable energy integration (offshore wind and utility-scale solar), and cross-border interconnections. GIS is particularly preferred at these voltage levels due to its compact design, high reliability, and ability to operate efficiently in space-constrained and harsh environments such as urban areas and offshore platforms. Additionally, modernization of aging transmission infrastructure in developed economies and rapid grid expansion in emerging markets like India and China are further driving demand for above 220 kV GIS systems, as they ensure stable, efficient, and secure power transmission across long distances.

Regional Analysis

Asia Pacific is expected to be the fastest-growing region in the global gas-insulated switchgear market during the forecast period, owing to the rapid urbanization, strong government support, and rising electricity demand. China, India, Japan, and South Korea are witnessing significant investments in power transmission and distribution infrastructure, where gas-insulated switchgear is increasingly preferred for its compact design and high reliability. Governments are actively accelerating grid modernization through targeted policies, electrification initiatives, and renewable energy integration programs. Additionally, increasing electricity demand, combined with space constraints in urban areas, is encouraging the adoption of compact and efficient switchgear solutions. The region is also seeing growing investments from utilities and industrial players, along with strategic partnerships to strengthen supply chains and improve project execution. As technological advancements in SF6-free switchgear and digital substations continue to evolve, the region is well-positioned to experience strong growth, supporting its leading role in the global gas-insulated switchgear market.

Key Market Trends & Insights

• Asia Pacific is expected to record a CAGR of 7.3% between 2026 and 2031.
• By installation, the outdoor segment dominated the market, accounting for a share of 58.5% in 2025.
• By insulation type, the SF6 segment captured a 67.2% market share in 2025.
• By voltage rating, the 16–27 kV segment is projected to register the fastest growth during the forecast period.
• By configuration, the compact GIS segment is likely to dominate the market from 2026 to 2031.
• By end user, the electrical utility segment accounted for the largest market share in 2025

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Competitive Landscape

Top companies in the global gas-insulated switchgear market include General Electric Company (US), Siemens (Germany), Schneider Electric (France), ABB (Switzerland), Eaton (Ireland), Mitsubishi Electric Corporation (Japan), Toshiba Energy Systems & Solutions Corporation (Japan), Hitachi Ltd. (Japan), Hyundai Electric Co., Ltd. (South Korea), Fuji Electric Co., Ltd. (Japan), CG Power and Industrial Solutions Ltd. (India), Nissin Electric Co., Ltd. (Japan), Meidensha Corporation (Japan), Powell Industries (US), Hyosung Heavy Industries (South Korea), Sieyuan Electric Co., Ltd. (China), CHINT Group (China), Iljin Electric (South Korea), Zhejiang Volcano Electrical Technology Co., Ltd. (China), Henan Pinggao Electric Co., Ltd. (China), XIAN XD SWITCHGEAR ELECTRIC CO., LTD (China), Switchgear Company (Belgium), Elektrobudowa S.A. (Poland), SEL S.p.A. (Italy), and G&W Electric (US) among others.

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Report Code: EP 2784 | Published: 6 May 2026 | Report Pages: 320 | Market Data Tables: 275 | Figures: 70