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Increasing Demand For Electricity Growth In Air Insulated Switchgear: An Emerging Driver Transforming The Air Insulated Switchgear Market Landscape
Air Insulated Switchgear
What Is the Projected Growth of the Air Insulated Switchgear Market?
The market size for air insulated switchgear has seen robust growth lately. The market value is projected to increase from $7.99 billion in 2024 to $8.6 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.6%. Factors such as the development of smart grid networks, increased peak load demand, expansion of micro-grid networks, growing worldwide electricity consumption, and the rise in industrial activities have contributed significantly to the historic growth rate.
There is an anticipated robust growth in the air insulated switchgear market in the coming years. The market is projected to expand to $11.45 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 7.4%. This growth during the forecast period could be a result of increasing urbanization, expansion in the marine sector, investments in power utilities, growth of renewable energy, and a surge in demand for infrastructure projects. Significant trends to watch in this forecast period encompass the development of smart grids, infrastructural development, innovative and digitalized switchgear, energy storage systems, hybrid switchgear systems development, the adoption of smart grid technologies, compact and modular design strategies, and the rejuvenation and upgrade of existing systems.
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What Are the Different Air Insulated Switchgear Market Segments?
The air insulated switchgearmarket covered in this report is segmented -
1) By Type: Metal-Enclosed And Spaced Switchgear, Metal-Enclosed Armored Switchgear, Metal-Enclosed Box-Type Switchgear
2) By Voltage Level: Low Voltage, Medium Voltage, High Voltage
3) By Installation: Outdoor Installation, Indoor Installation
4) By Application: Transmission And Distribution, Manufacturing And Processing, Infrastructure And Transportation, Other Applications
5) By End-Use: Commercial, Residential, Utility, Other End-Uses
Subsegments:
1) By Metal-Enclosed and Spaced Switchgear: Compact Metal-Enclosed Switchgear, Modular Metal-Enclosed Switchgear, High Voltage Metal-Enclosed Switchgear, Medium Voltage Metal-Enclosed Switchgear
2) By Metal-Enclosed Armored Switchgear: Fully Armored Switchgear, Partially Armored Switchgear, Indoor Metal-Enclosed Armored Switchgear, Outdoor Metal-Enclosed Armored Switchgear
3) By Metal-Enclosed Box-Type Switchgear: Box-Type Switchgear for Distribution Systems, Box-Type Switchgear for Substation Applications, Outdoor Metal-Enclosed Box-Type Switchgear, Indoor Metal-Enclosed Box-Type Switchgear
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What Are the Primary Drivers Shaping the Air Insulated Switchgear Market?
Anticipated growth in the air-insulated switchgear market is closely tied to rising electricity demands, a result of population growth, urbanization, the proliferation of electric vehicles, and heightened use of renewable energy. Air-insulated switchgear plays a key role in electrical management by securely operating and safeguarding electrical apparatuses, facilitating efficient power dispersal, and reducing electrical glitches. The International Energy Agency (IEA), an independent organization based in France, forecasted in July 2024 that worldwide electricity demand would escalate from 2.5% in 2023 to approximately 4% in 2024. Consequently, the escalating demand for electricity is fuelling the expansion of the air-insulated switchgear market.
Which Companies Are Leading in the Air Insulated Switchgear Market?
Major companies operating in the air insulated switchgear market are Siemens AG, TEPCO Group, Mitsubishi Electric Corporation, Schneider Electric SE, GE Vernova Inc., ABB Ltd, Larsen & Toubro Limited, Toshiba Corporation, Eaton Corporation, WEG S.A., CHINT Global, Alfanar Group, Hyosung Heavy Industries Corporation, Meidensha Corporation, Nissin Electric Co. Ltd, Ormazabal GmbH, ZPUE S.A., C&S Electric Ltd, Powell Industries Inc., Lucy Electric UK Ltd, Hyundai Electric Co.Ltd., EFACEC Power Solutions SGPS S.A., Medelec Switchgear Ltd., Ghorit Electrical Co. Ltd, TGOOD Global Ltd., Orecco Electric, Wenzhou Unisun Electric Co Ltd
What Are the Major Trends Shaping the Air Insulated Switchgear Market?
Leading organizations in the air-insulated switchgear market are innovating and producing advanced AIS medium-voltage (MV) switchgear to amplify efficiency, boost safety measures, and satisfy the increasing need for dependable power distribution systems. The AIS medium-voltage switchgear is a power system apparatus used to control and defend circuits, utilizing air as a means of insulation to separate the live components from the grounded ones. For instance, in September 2023, ABB Ltd., a Swiss firm specializing in power, heavy electrical equipment, and automation technologies, introduced the UniGear ZS1. This is the latest innovation in air-insulated medium-voltage (MV) switchgear technology, specifically designed to concentrate on sustainability and efficiency. This caters to the urgent issues confronted by industries such as utilities, oil and gas, and high-rise buildings. The 500-mm panel version of this technology is the most compact in its class and is ideal for environments where space is limited. This particular design not only maximizes space but also augments energy distribution efficiency.
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What Are the Top Revenue-Generating Geographies in the Air Insulated Switchgear Market?
Asia-Pacific was the largest region in the air-insulated switchgear market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the air insulated switchgear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Air Insulated Switchgear Market?
2. What is the CAGR expected in the Air Insulated Switchgear Market?
3. What Are the Key Innovations Transforming the Air Insulated Switchgear Industry?
4. Which Region Is Leading the Air Insulated Switchgear Market?
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