Global Di-electric Gases Market is Projected to Grow at a CAGR of 7.2% from a Worth of US$ 135.2 Bn in 2023 to Revenue of US$ 272.3 Bn in 2033 | Data by Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Impact of SF6 Gas’s Ecological Hazards & Key Innovations in the Di-electric Gases Market Revealed: FMI 2023-2033 Market Analysis. Chinese Di-electric Gases Market is expected to grow at a CAGR of 8.2% to reach a valuation of US$ 61.4 Bn by 2033. SF6 di-electric gases along with Fluoronitrile (FN) di-electric gases are top-selling products in the market
NEWARK, Del, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The Di-electric Gases market is predicted to increase at a 7.2% CAGR from US$ 135.2 billion in 2023 to US$ 272.3 billion in 2033.
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.
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
The industry players are primarily focused on developing eco-friendly alternatives. This has carved out a lucrative space for startups to experiment. New market players can lure consumers through the introduction of eco-friendly products. This is also expected to make up for the lost SF6 market during the forecast period.
The SF6 type has been the dominant segment in the historical reference period. However, key players are turning away from it, due to it being a greenhouse gas. This has led to innovations for eco-friendlier substitutes. This is primarily fueled by rising demand for eco-friendly variants.
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About Future Market Insights, Inc.
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