The market for dielectric gases is poised to flourish at a 7% value from 2022-2032, expected to reach a valuation of US$ 252.37 Million by the end of the said period of assessment. Growth is primarily attributed to the need for preventing essential equipment from abrupt quenching of voltage. This ensures longevity as well as prevents outbreak of industrial hazards.
From 2015 to 2021, dielectric gases market demand experienced a CAGR of 6.5%, concluding at a value of US$ 118.8 Million. During the initial quarter of the COVID-19 pandemic, demand fell drastically, amid cessation of industrial activity due to the imposition of lockdowns. Eventually, however, prospects began to recover, as the pandemic’s incidence faded.
With the rate of urbanization increasing rapidly, the need for constructing commercial and residential infrastructure is rising. In order to ensure durability of buildings and to ensure residents’ safety, key vendors are deploying dielectric gases based insulating material. It is touted that dielectric gas insulators are far more cost effective compared to conventional insulators, another factor bolstering market growth.
Key Takeaways from the Market Study
- Global dielectric gases market demand to nearly double from 2022-2032
- By type, SF-6 based dielectric gases to account for more than 4/5th revenue
- Dielectric gases to be most widely used for switchgears, expected to yield US$ 95 Million in 2032
- Power utilities to be a prominent end use segment, accumulating half of total market revenue
- S to emerge as an opportunistic growth region, documenting a CAGR of 5.1% until 2032
- Germany to be the fastest accelerating market, registering a CAGR of 6.8%
“As the global manufacturing and other industrial sectors experience a resurgence, demand for dielectric gases for insulation and other purposes is expected to pick up pace, with major applications anticipated in the construction industry,” opines a Fact.MR analyst.
Dielectric Gases Market- Competitive Landscape
Key players in the di-electric gas market are constantly looking for ways to provide higher-quality products at lower costs and with consistent supply over long periods of time, allowing manufacturers to move the business segment more smoothly.
The majority of smaller businesses are entering into long-term contracts with contract manufacturers to supply customized products at cost-competitive prices for end-use applications. The Di-electric Gases market is fragmented, with the major players controlling more than half of the market value share.
- For the development of this product, Novec, 3M Company collaborated with ABB and GE in April 2021. The collaborative effort resulted in the introduction of a high-potential alternative to SF6 technology, as well as technology exchange that added value to the global landscape.
- Linde India signed a business transfer agreement with HPS Gases, Vadodara, on August 2, 2021, to acquire its entire packaged gases business, as well as certain distribution assets, with effect from November 1, 2021, for an aggregate cash consideration of Rs.27.5 crore.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the dielectric gases market, presenting historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of gas type (SF6, dry air, fluoronitrile, nitrogen, fluoroketones and others), by application (medium voltage, high voltage and extra & ultra-high voltage), by end use equipment (switch gears, transformers and gas insulated lines) and by end use industry (transportation, heavy metals, oil & gas, mining, chemicals & petrochemicals, power utilities and others) across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa).
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