Global Dielectric Gases Market Maintains Momentum as Ever-expanding Industrial Sector in APEJ Pumps Demand, Finds a FMI Study

Dielectric Gases Market

Dielectric gases, also known as insulation gases, are dielectric materials that exist in the gaseous state. These gases are generally used as insulating medium in high voltage transmission units, such as switchgears, transformers, gas insulated lines, etc. The gas used as an insulating media must have good dielectric strength, chemical inertness, high thermal stability, non-flammability and low boiling point. The most common gases used across the globe for insulation purpose in dielectric gases are dry air, nitrogen and SF6. Moreover, the global market for dielectric gases is anticipated to grow with healthy CAGR of 7.9% during the forecast period. The global dielectric gases market will attain the value of US$ 214.6 Mn by the end of 2028. Furthermore, growing demand for electricity due to rapid infrastructural development and industrialization is also expected to create significant demand for gas insulated transmission units in future. This is further expected to drive the global market for dielectric gases between 2018 and 2028.

Increasing urbanization in emerging as well as developed economies has led to surge in construction activities around the world. Due to growing installation and use of Office Equipment, HVAC, IT and telecommunications as well as increasing demand for civic utilities involving lighting, water supply and consumer appliances, consumption per unit of electricity has been increasing. The commercial sector generally employs medium to moderately high rated voltage consumption.

The industrial sector is estimated to have consumed 54% of the total electricity generated across the globe during 2017. Increasing investments in general manufacturing and telecom and IT industry, owing to high demand from telecommunication networks, data storage banks and multinational IT corporations, is leading to increased demand for medium voltage substations. This is anticipated to create healthy demand for dielectric gases in the coming years. Dielectric gases have also become the preferred insulating medium in electricity transmission units.

Growing R&D activities by leading manufacturers of dielectric gases are estimated to create several growth opportunities in the dielectric gases market in the coming future. Manufacturers in the dielectric gases market are highly engaged in the development of SF6 alternatives. As a matter of fact, this is the key strategy being adopted by many manufacturers to increase their share in the dielectric gases market. This strategy has been helping manufacturers enhance their brand value and market share in dielectric gases market. 3M, a prominent manufacturer in the dielectric gases market, recently launched a new product by the name Novec. For the development of this product, the company collaborated with ABB and GE, the two leading companies engaged in the manufacturing and sales of electronic transmission units across the globe. Technology exchange was the key reason behind this collaboration and now alternatives are developed by these companies. 

Asia Pacific is one of the most prominent regions in the global dielectric gases market. The region is estimated to hold more than 57% share in the global Dielectric Gases market by the end of 2028. Growing demand from the region can be attributed to infrastructural development and rapid establishment of various industries. Hence, the demand for power transmission products will also increase, which in turn, is further anticipated to fuel the demand for dielectric gases in future. Moreover, technological innovations and development activities in Europe have made the region the innovation leader in the global dielectric gases market. Significant presence of the many prominent players, such as 3M, Solvey, Linde, Messer Group, ABB and GE, among others, is another reason responsible for Europe’s leading position in the dielectric gases market. 3M Company, Solvay S.A., The Linde Group, Messer Group, General Electric Company, ABB Inc., SHOWA DENKO K.K., KPL International Limited, Matheson Tri-Gas, Inc. and Kanto Denka Kogyo Co., Ltd., among others, are some of the key players involved in the manufacturing of dielectric gases in the global market

Request to Browse Report Customization@https://www.futuremarketinsights.com/customization-available/rep-gb-8514

About Nikhil Kaitwade 322 Articles
With over 8 years of experience in market research and consulting industry, Nikhil has worked on more than 250 research assignments pertaining to chemicals, materials and energy sector. He has worked directly with about 35 reputed companies as lead consultant for plant expansion, product positioning, capacity factor analysis, new market/segment exploration, export market opportunity evaluation and sourcing strategies.