Global Gas Insulated Transformer Market Size, Share, Growth Analysis, By Type(Current Gas Insulated Transformers, Instrument Gas Insulated Transformers), By Application(Commercial Gas Insulated Transformers, Civic Infrastructure Gas Insulated Transformers) - Industry Forecast 2024-2031

Drivers

High Investments in Grid Modernization

• The rapidly expanding need for energy around the world has resulted in increased grid modernization investments to satisfy the surging energy demand in a reliable and efficient manner. Gas insulated transformers play a crucial role in modern grids for reliable power supply applications, which is why their demand is slated to rise.

Growing Demand for Efficient Power Transmission

• Rapidly expanding global population has bolstered the importance of efficient power transmission infrastructure around the world and this trend is estimated to favor the sales of gas insulated transformers over the coming years.

Restraints

High Initial Investments

• Procurement and installation costs of gas insulated transformers are high and this could slow down the overall market growth across the forecast period. Use of specialized equipment and skilled labor to install gas insulated transformers is what adds up to the costs and limits sales potential.

Regulatory Compliance Issues

• Creating a transformer that is compliant with the modern sustainability mandates is a huge challenge as it requires more investments in R&D. This issue with regulatory compliance is projected to slow down the demand for gas insulated transformers in the long run.