Dielectric Gases Market to Expand 1.8x through 2030, Finds Fact.MR

DUBLIN 2, Ireland - Oct. 9, 2020 - PRLog -- 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

• Compressed air is rapidly gaining traction for dielectric barrier properties, with strong demand in substation applications.
• HVAC and office equipment applications are witnessing strong growth, particularly for telecom and IT infrastructure.
• Europe is projected to hold major market share through the forecast period owing to the presence of leading market players and major production facilities.

Read Report- https://www.factmr.com/report/4805/dielectric-gases-market

Dielectric Gases Market - Driving Factors

• Strong growth in residential construction, and development of power and telecom infrastructure supports demand.
• Demand for safe and eco-friendly alternatives to conventional oil insulation provides impetus to market growth.

Dielectric Gases Market - Leading Constraints

• High dependency of the industry on international supply chains, and imposed tariffs hurt market prospects.
• Slow technological advancements in dielectric gases, especially in emerging economies is holding back market growth.

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.

Competition Landscape

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.

PR Source- https://www.factmr.com/media-release/1575/global-dielectr...