NEWARK, Del, Jan. 05, 2023 (GLOBE NEWSWIRE) — The dielectric gases market is expected to grow at a CAGR of 7.2%, from US$135.2 billion in 2023 to US$272.3 billion in 2033.
The advantages offered by dielectric gases over high-risk oils are expected to drive the global market. The product finds various applications in gears, transformers, gas-insulated lines and high voltage transmission units. It can also help reduce the weight and size of high voltage transmission units. The market is on a positive growth trajectory due to a global increase in energy consumption.
Growing demand Through Industries Drive Market Growth
The expansion of the construction industry, propelled by the residential and commercial sectors, is expected to support the growth of the market. The sector’s high energy consumption makes it a lucrative market for dielectric gases.
Additionally, the product is expected to find application in medium voltage substations, due to an increase in IT, telecommunications and HVAC infrastructure establishments. Additionally, it finds critical applications in insulation.
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Main findings of the report:
- The dielectric gases market recorded a CAGR of 5.9% between 2017 and 2022.
- In China, the market is expected to grow at a CAGR of 8.2%, reaching a valuation of $61.4 billion by 2033.
- The US market is expected to grow at a CAGR of 5.9% to reach a market value of US$27.9 billion by 2033.
- The Japanese market is expected to register a promising CAGR of 4.0%, growing at US$2.5 billion between 2023 and 2033.
- By major application, high voltage segment is expected to grow at a CAGR of 7.4% during the forecast period
Important market developments:
- In March 2022, Enedis and Schneider Electric collaborated to launch advanced MV/LV substation equipment. This equipment uses an environmentally friendly alternative to SF6 gas. This new gas variant is in high demand due to its application in high voltage electrical distribution.
- In May 2022, Elsewedy Electric launched the first ever busway dielectric system installation in Africa. It has features such as high preventive safety standards, due to short circuits, load sharing and weaker magnetic field.
- In February 2021, Husqvarna launched a new pole saw, 525 DEPS MADSAW, or Minimum Approach Distances
- The 3M company
- Solvay S.A.
- General Electric
- The Linde Group
- KPL International Limited
- Matheson Tri-Gas, Inc.
- Kanto Denka Kogyo Co., Ltd.
- Showa Denko KK
- ABB Inc.
- Messer Group GmbH
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Innovation-hungry Startups & Key Players
Industry players are mainly focusing on the development of environment-friendly alternatives. This has created a lucrative space for startups to experiment with. New market players can attract consumers through the introduction of environmentally friendly products. This is also expected to offset the loss of the SF6 market over the forecast period.
Dielectric Gases Market by Category
Type of gas:
- SF6 dielectric gases
- Air-dry dielectric gases
- Nitrogen dielectric gases
- Fluoronitrile (FN) dielectric gases
- Flurocetones (FK) Dielectric gases
By end-use equipment:
- Gas-insulated lines
- Medium voltage
- High tension
- Extra & Ultra High Voltage
By end-use industry:
- Electric utilities
- petroleum gas
- Chemicals & Petrochemicals
- Heavy metals
- Other industrial
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SF6 segment demand will decline during the forecast period
The SF6 type has been the dominant segment during the historical reference period. However, major players are turning away from it, as it is a greenhouse gas. This has led to innovations for more environmentally friendly substitutes. This is mainly fueled by the growing demand for environmentally friendly variants.
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market context
3.1. Market dynamics
3.2. Scenario forecast
3.2.1. Demand in the optimistic scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in the conservative scenario
3.3. Opportunity Map Analysis
3.4. Product life cycle analysis
3.5. Supply chain analysis
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