The dielectric gases market is expected to grow at a rate of 7% from 2022 to 2032, reaching a valuation of US$ 252.37 million by the end of this period. This growth is primarily driven by the need to protect critical equipment from sudden voltage disruptions, which helps to ensure equipment longevity and prevent industrial hazards.

From 2015 to 2021, the dielectric gases market experienced a CAGR of 6.5%, culminating in a value of US$ 118.8 million. During the early stages of the COVID-19 pandemic, market demand declined sharply due to lockdowns and halted industrial activity. However, as the pandemic's impact subsided, market prospects began to recover.

The rapid rate of urbanization is increasing the demand for both commercial and residential infrastructures. To enhance the durability of buildings and ensure safety, key players are incorporating dielectric gases in insulating materials. Dielectric gas insulators are considered more cost-effective compared to traditional insulators, further supporting market growth.

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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
U.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%
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Dielectric Gases Market - Competitive Landscape

In the dielectric gases market, key players are focused on delivering higher-quality products at lower costs while ensuring a consistent supply over extended periods. This approach allows manufacturers to streamline their business operations effectively.

Smaller companies are increasingly entering into long-term contracts with contract manufacturers to supply customized products at competitive prices for various applications. The market remains fragmented, with major players holding over half of the market value share.

Significant industry developments include a collaboration in April 2021 between Novec, 3M Company, ABB, and GE. This partnership led to the introduction of a promising alternative to SF6 technology and facilitated valuable technology exchange in the global market.

Additionally, on August 2, 2021, Linde India signed a business transfer agreement with HPS Gases, Vadodara, to acquire its entire packaged gases business and certain distribution assets. This transaction, effective from November 1, 2021, was valued at Rs. 27.5 crore.

Key Segments Covered in the Dielectric Gases Market Study

Dielectric Gases by Gas Type:
SF6-based
Dry Air
Fluoronitrile
Nitrogen
Fluoroketones
Other
Dielectric Gases by Application:
Medium Voltage
High Voltage
Extra & Ultra High Voltage
Dielectric Gases Market by End Use Equipment:
Switchgears
Transformers
Gas Insulated Lines
Dielectric Gases Market by End Use Industry:
Transportation
Heavy Metals
Oil & Gas
Mining
Chemicals & Petrochemicals
Power Utilities
Other End Use Industries
Dielectric Gases Market by Region:
North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa
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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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