The dielectric gases market is estimated to rise 1.8x with a very healthy 7% CAGR between 2020 and 2030. The coronavirus pandemic is anticipated to have a detrimental impact on the dielectric gases industry. This can be attributed to the sharp reduction in industrial and commercial activity around the world during the crisis period, which in turn has limited electricity usage, and the requirement for dielectric gases in high-voltage applications.
“The rising popularity of compact substations, with growing bias towards reduction of cost space, and maintenance, along with superior operational performance and smaller product specifications are favoring the adoption of dielectric gases in high voltage devices throughout the projection period,” says the Fact.MR analyst.
Dielectric Gases Market – Important Takeaways
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Dielectric Gases Market – Driving Factors
Dielectric Gases Market – Leading Constraints
Anticipated Market Impact by Coronavirus Outbreak
The global dielectric gases market is going through a short-term downturn during the coronavirus contagion outbreak. With primary applications in high-voltage power industry settings, low energy demand during the coronavirus crisis has also hurt demand for dielectric gases. Further, Niche applications in commercial infrastructure buildings, and oil & gas facilities have also been hit by the outbreak, reducing short term sales prospects for dielectric gases. However, the industry is likely to recover strongly towards the end of 2020, with growing relaxation on lockdown regulations and research on new fields of application.
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Leading manufacturers in the consolidated dielectric gases market include but are not limited to Linde AG, 3M Company, Showa Denko K.K., and Solvay S.A.
Leading manufacturers in the dielectric gases market have been observed investing extensively in product innovations aimed towards performance enhancements, new applications, and eco-friendly characteristics.
For instance, General Electric in collaboration with 3M Company has developed a ready to go dielectric gas mixture as sulfur hexafluoride substitute for high voltage electricity transmission. Microsoft has announced a patent hermetically sealed datacenters with high pressure dielectric gas. ABB has set up the first eco-efficient gas insulated switchgear alternative.
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The market is scrutinized according to gas type (SF6, dry air, fluoronitrile, nitrogen, fluoroketones, and others), application (medium, high, extra & ultra-high voltage), end use equipment (switch gears, transformers, and gas insulated lines), and end use industry (transport, heavy metals, oil & gas, mining, chemicals & petrochemicals, power utilities, and others) across six key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East and Africa).
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