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Dielectric Gases Market

Dielectric Gases Market

Dielectric Gases Market By Gas Type (SF6, Dry Air, Fluoronitrile, Nitrogen, Fluoroketones), by Application (Medium, High, Extra & Ultra High Voltage), by End Use Equipment (Switch Gears, Transformers, Gas Insulated Lines), by End Use Industry, by Region - Global Forecast 2022-2032

Dielectric Gases Market
FACT4805MR

Dielectric Gases Market Outlook (2022-2032)

Demand for dielectric gases stood at US$ 118.8 Million in 2021, and is poised to incline at a Y-o-Y rate of nearly 8% to reach US$ 128.3 Million. Furthermore, the market is slated to expand at a value CAGR of 7% from 2022 to 2032, reaching US$ 252.37 Million.

Report Attributes Details

Base Year Value (2021)

US$ 118.8 Million

Expected Market Value (2022)

US$ 128.3 Million

Projected Forecast Value (2032)

US$ 252.37 Million

Global Growth Rate (2022-2032)

7% CAGR

Anticipated Growth Rate of U.S. (2022-2032)

5.1%

Anticipated Growth Rate of Germany (2022)

6.8%

Major Dielectric Gases Providers

  • 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

2015-2021 Revenue Analysis of Dielectric Gases vs. Future Outlook 2022-2032

According to data published by Fact.MR- a market research and competitive intelligence provider- dielectric gases sales experienced a significant uptake from 2015-2021, documenting a CAGR of 6.5%. Dielectric gases have been mobilized in the oil & gas and power utilities industry, extensively used in extra and ultra-high voltage applications. The shift from high-risk oil towards a much safer alternative has been propelling the global dielectric gases market.

Attributed to the ever impending risk of short circuits and industrial fires, dielectric gases are heavily relied upon to rapidly quench electric discharges. These gases are typically utilized in circuit breakers, transformers, switchgears and radar waveguides among others. During the COVID-19 pandemics, growth prospects experienced multiple fluctuations, initially going through a downswing amid mandatory lockdowns and eventually regaining pace in the forthcoming months.

Future growth prospects are reliant on the growth of the construction industry. As urbanization expands, the need for commercial and residential infrastructure is increasing, which is necessitating installation of insulated power lines and electricity apparatus. Key construction insulation players are thus preferring dielectric gases over conventional insulating material. Owing to these factors, the global market is poised to flourish nearly 2x from 2022-2032.

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Prominent Growth Drivers Influencing Dielectric Gases Deployment

Growing Application in the Construction Industry to open Key Growth Opportunities

The global dielectric gas market is expanding due to a surge in the construction industry as a result of an increase in the residential and commercial infrastructure projects amid rapid urbanization. By 2032, the global construction volume will have increased by 86% to US$ 15.6 Trillion. Because of its high total electricity consumption, the industrial sector will generate a plethora of opportunities (about 55%).

Demand for medium voltage substations will increase due to an increase in the number of residential units that will necessitate the installation of IT and telecom infrastructure. HVAC systems and office equipment all contribute to demand generation. The outlook is positive, with a preference for dielectric gases for insulation.

Asia Pacific is a region that would garner a lot of attention and market share (APAC). During the forecast period, it would represent a highly profitable playing field for dielectric gases.

High Reliance on Sulfur Hexafluoride to enhance Market Growth

Demand for gas-insulated transmission lines is increasing, as are high-energy transportation operations and rapidly expanding power industries. Sulfur hexafluoride (SF6) is a strong electronegative gas both at room temperature and at temperatures well above ambient, which explains its good arc-interruptibility and exceptional dielectric strength.

The breakdown voltage of SF6 is approximately three times greater than that of air at atmospheric pressure. It also has fast self-healing and recovery properties due to its heat transfer properties, as it can reform itself when separated under high gas-pressure conditions in an arc or electric discharge.

As a result, it is widely used in the electric power industry because it exhibits a variety of properties that make it suitable for apparatus used in the distribution and transmission of electric power. This is significantly contributing to the expansion of the global dielectric gas market.

Dielectric gases market forecast by Fact.MR

Country-wise Analysis

How will the Dielectric Gases Industry Grow in the U.S?

The United States has the largest share of the global market for dielectric gases. Because of the presence of a significant number of leading players in the power industry, the switchgear segment has the largest market share in the country. In addition, the country's strong growth in the chemical sector will continue to support growth.

Furthermore, dielectric gases are used in electrical insulators in high voltage applications such as transformers, switchgear, gas-insulated lines, and circuit breakers in the United States, which is driving demand for the power industry and also prevents electric discharge; as a result of this application, demand for dielectric gases is expected to grow at a CAGR of 5.1% from 2022-2032.

How will the Dielectric Gases Industry Grow in Germany?

The demand for SF6 in Germany is increasing on a daily basis. Because of its high reliability, small footprint, low maintenance cost, and flexible configuration, it is widely used in high-voltage power and high-voltage power systems, ultra-high-voltage power, and extra-high-voltage power.

With the advancement of technology, SF6-insulated equipment such as gas-insulated transformers (GIT), gas-insulated lines (GIL), cubicle-type gas-insulated switchgear (C-GIS), gas-insulated circuit breakers (GCB), and others are commonly used in power utilities.

a result, the global dielectric gas market has a significant opportunity to grow in Germany. Increasing investment is identified as a key driver of the German market, allowing for 6.8% CAGR.

How Will Asia-Pacific Provide Growth Opportunities for Dielectric Gases Providers?

During the assessment period, the dielectric gas market was the fastest growing market in the Asia Pacific, and it is expected to grow at the same rate in the coming years due to the increasing demand for the energy industry in India, which adversely increases the demand for power utilities in this industry. Dielectric gas consumption is increasing in India, owing to increased demand from industries such as power utilities for energy generation applications.

India, as a result of increased investment in transmission and distribution network expansion, has driven its demand. For example, in February 2019, IndiGrid, a power infrastructure investment trust (InvIT), signed an agreement to acquire Patran Transmission Company Limited (PTCL) from Techno Electric & Engineering Company Limited for US$ 33.95 Million.

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Category wise insights

The SF6 segment of the Dielectric Gases Market is Expanding rapidly

The SF6 segment is estimated to account for 83% of the global market share in the gas type segment, and it is expected to grow further in the coming years, benefiting the di-electric gases market, as di-electric gases are used as an insulating medium in high voltage transmission units such as switchgears, transformers, gas insulated lines, and so on.

The gas used as an insulating medium must be dielectrically strong, chemically inert, have high thermal stability, be non-flammable, and have a low boiling point. As a result, demand for Di-electric Gases is expected to skyrocket in the near future.

The Power Utility Industry to emerge as one Primary End-User

Dielectric gases have traditionally been used primarily in power utilities (50% of total market share). Dielectric gases are in high demand in these industries due to their gradual quenching and insulation properties. This is followed by transportation, where dielectric gases are used to switch gears and transformers in train stations and other high-energy locations.

Based on the factors mentioned above, the dielectric gas market is expected to grow during the forecast period. The power utility industry is expected to drive the global dielectric gases market, accounting for nearly half of the overall market share. East Asia's power consumption has increased noticeably. Power transmission and distribution lines are in high demand as demand for power grows.

The Switchgear Segment to Dominate the Market

The global switchgear market is expected to reach US$ 95 Million by 2032, up from US$ 54.57 Million in 2022, at a CAGR of 5.7% over the forecast period. The switchgear market is expected to be driven by the replacement of aging power infrastructure as well as growing investments in renewable energy.

Over the forecast period, the switchgear segment is also expected to account for half of the global share of end-use equipment types. Electrical disconnect switches, fuses, or circuit breakers are used to control, protect, and isolate electrical equipment in the switchgear Di-electric Gases segment. Switchgear is used to de-energize equipment so that work can be done as well as to clear faults downstream.

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Dielectric Gases Market- Competitive Landscape

Key players in the dielectric 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.

  • In April 2021, for the development of this product, Novec, 3M Company collaborated with ABB and GE. 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 2nd, 2021, to acquire its entire packaged gases business, as well as certain distribution assets, with effect from November 1st, 2021, for an aggregate cash consideration of Rs.27.5 crores (US$ 3.5 Million).

Key Segments Covered in the Dielectric Gases Market Study

  • Dielectric Gases by Gas Type :

    • SF6-based Dielectric Gases
    • Dry Air-based Dielectric Gases
    • Fluoronitrile-based Dielectric Gases
    • Nitrogen-based Dielectric Gases
    • Fluoroketones-based Dielectric Gases
    • Other Dielectric Gas Types
  • Dielectric Gases by Application :

    • Dielectric Gases for Medium Voltage
    • Dielectric Gases for High Voltage
    • Dielectric Gases for Extra & Ultra High Voltage
  • Dielectric Gases Market by End Use Equipment :

    • Dielectric Gases for Switchgears
    • Dielectric Gases for Transformers
    • Dielectric Gases for Gas Insulated Lines
  • Dielectric Gases Market by End Use Industry :

    • Dielectric Gases for Transportation
    • Dielectric Gases for Heavy Metals
    • Dielectric Gases for Oil & Gas
    • Dielectric Gases for Mining
    • Dielectric Gases for Chemicals & Petrochemicals
    • Dielectric Gases for Power Utilities
    • Dielectric Gases for Other End Use Industries
  • Dielectric Gases Market by Region :

    • North America Dielectric Gases Market
    • Latin America Dielectric Gases Market
    • Europe Dielectric Gases Market
    • East Asia Dielectric Gases Market
    • South Asia & Oceania Dielectric Gases Market
    • Middle East & Africa Dielectric Gases Market

- FAQs -

As of 2021, the dielectric gases market was worth US$ 118.8 Million
Fact.MR foresees dielectric gases demand to reach US$ 128.3 Million in 2022
From 2015-2021, the dielectric gases market surged at a 6.5% CAGR
From 2022-2032, Fact.MR expects dielectric gases revenue to flourish at a 7% CAGR
In 2032, dielectric gases market worth is poised to reach US$ 252.37 Million
The U.S Dielectric Gases market is poised to grow at a CAGR of 5.1% over the forecast period.
Germany is expected to register maximum growth, documenting a 6.8% CAGR through 2032.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

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