Dielectric Gases Market Forecast

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Dielectric Gases Market Forecast Trend Analysis Competition Tracking - Global Market Insights 2020 to 2030 The global dielectric gases market has been on a steady course at a CAGR of 6 over the past half- decade. However a decline has been observed in the 1st and 2nd quarter of the fiscal year 2020 owing to the COVID-19 pandemic. In the aftermath with a resurrection in global demand the dielectric gases market is forecast to witness an upswing at a dexterous 7 during the forecast period 2020-2030. Dielectric gases are insulating gases used to quench electric discharges which tends to shorten equipment lifespan negatively impacting profit margins in the long-run. Dielectric gases have also been mobilized in the oil gas and power utilities industry extensively used in extra and ultra-high voltage applications. Muted power utilization and demand shock amidst COVID-19 has contracted supply of dielectric gases in the global market. Global Dielectric Gases Market Application Insights High Voltage has emerged as a profitable application area for the dielectric gases market. This surging popularity has been observed owing to its wider scope in power utilities. Based on this trend market players are leveraging their footprints by providing dielectric gases such as SF6 and dry air to be suitable for its utilization in switch gear transformers and gas insulated lines applications. Accentuated demand for dielectric gases has also been stimulated by high voltage extra and ultra- high voltage applications contributing to market expansion in the mid-term forecast period. However an uptick in power utilities adoption coupled with recessionary trends amid the COVID-19 pandemic have set supply-demand askew. Global Dielectric Gases Market End-Use Industry Insights Dielectric gases have been primarily consumed in power utilities 50 of total market. Dielectric gases are witnessing high demand growth in these industries for its gradual quenching and insulation properties. This is followed by transportation where dielectric gases are used in switch gears and transformers in train stations and other key locations that require high amounts of energy. Based on the aforementioned factors the dielectric gases market is set to witness an upward trend during the forecast period. Short-term demand aberrations observed in the dielectric gases market are expected to diminish once end-use industries recover from the scourge of the COVID-19 pandemic. Global Dielectric Gases Market Regional Insights East Asia accounted for the largest market share in 2019. This trend is anticipated to continue throughout the forecast period. Currently East Asia accounts for more than one fourth of the dielectric gases demand. Consumption of dielectric gases in East Asia is mainly backed by accelerating demand from industries utilizing power utilities for energy generation applications. The dielectric gases market was the fastest growing in East Asia during the historical period. This is attributed to the enhanced uptake of dielectric gases in high voltage applications. However the COVID-19 pandemic has contracted demand thus affecting the production of dielectric gases. Coupled with COVID-19 recent recession reported in Mid-May in Japan is set to further suppress

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market growth. It is estimated that many regions are set to undergo a prolonged recession which is anticipated to generate a slump in this market. These trends are projected to continue for more than 18 months. By the end of the 4th quarter of 2021 the market is set to rebound gaining momentum once the manufacturing sites and transportation utilization ratio reaches its maximum capacity.

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