Renewable Energy Boom Fuels Di-Electric Gases Market: Reaching US$ 272.3 Billion by 2033

Di-electric Gases Market
Di-electric Gases Market

 

The di-electric gases market is poised for substantial growth, with a projected compound annual growth rate (CAGR) of 7.2% from US$ 135.2 billion in 2023 to US$ 272.3 billion by 2033. This anticipated expansion reflects the increasing demand for di-electric gases across various industries, including electronics, healthcare, and energy. Factors such as the rising adoption of renewable energy sources, technological advancements in electrical equipment, and the expanding semiconductor industry are driving this market growth trajectory.

Advantages offered by di-electric gases over high-risk oils are expected to drive the global market. The product finds diverse applications in gears, transformers, gas-insulated lines, and high-voltage transmission units. It can also aid in reducing the weight and size of high-voltage transmission units. The market is on a positive growth trajectory owing to a global rise in energy consumption.

Rising Application Across Industries Drives Market Growth

The expansion of the construction industry propelled by the residential and commercial sectors is projected to bolster market growth. High energy consumption in the sector, makes it a lucrative market for di-electric gases.

Further, the product is expected to find application in medium voltage substations, owing to an increase in establishments of IT, telecom infrastructure, and HVAC units. Additionally, it finds critical applications in insulation.

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Key Takeaways from the Report:

  • The di-electric 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%, to reach a valuation of US$ 61.4 Bn by 2033.
  • The US market is projected to grow at a CAGR of 5.9% to reach a market value of US$ 27.9 Bn by 2033.
  • The market in Japan is expected to register a promising CAGR of 4.0%, growing by US$ 2.5 Bn between 2023 and 2033.
  • By top application, the 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 an advanced MV/LV substation equipment. This equipment uses an eco-friendly alternative to SF6gas. This new gas variant is highly in demand due to its application in high-voltage electrical distribution.
  • In May 2022, Elsewedy Electric launched the first-ever busway dielectric system facility in Africa. It has features such as high preventive security standards, owing to short circuits, load distribution, and a lower magnetic field.
  • In February 2021, Husqvarna launched a new pole saw, 525 DEPS MADSAW, or Minimal Approach Distances

Key Players:

  • 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 K.K.
  • ABB Inc.
  • Messer Group GmbH

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Di-electric Gases Market by Category

Gas Type:

  • SF6 Di-Electric Gases
  • Dry Air Di-Electric Gases
  • Nitrogen Di-Electric Gases
  • Fluoronitrile (FN) Di-Electric Gases
  • Fluroketones (FK) Di-Electric Gases
  • Others

By End Use Equipment:

  • Switchgear
  • Transformers
  • Gas Insulated Lines

Application:

  • Medium Voltage
  • High Voltage
  • Extra & Ultra High Voltage

By End Use Industry:

  • Power Utilities
  • Oil & Gas
  • Chemicals & Petrochemicals
  • Heavy Metals
  • Mining
  • Transportation
  • Other Industrial

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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