Press release
Air Insulated Switchgear Market Challenges Include Competition from Gas Insulated Technologies and High Maintenance Costs Impacting Adoption Rates
Air-Insulated Switchgear Market
The global air-insulated switchgear market is estimated to reach over USD 12.26 billion by 2031, exhibiting a CAGR of 5.58% during the forecast period.
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In response to escalating environmental concerns, numerous countries have enacted regulations aimed at decreasing dependency on hydrocarbon-based electricity generation. This shift is expected to propel growth in the global air-insulated switchgear market. Significant investments by developing nations in rural electrification, alongside ongoing advancements in energy infrastructure, have also played a pivotal role in market expansion. The increasing demand for robust and highly reliable electrical grids across diverse industries further supports this growth trajectory. Additionally, governments are implementing favorable regulatory frameworks to ensure uninterrupted power supply, which, together with the proliferation of microgrid systems and greater incorporation of renewable energy sources, creates lucrative opportunities for manufacturers of air-insulated switchgear. Over the forecast period, rising energy consumption and the imperative to upgrade aging grid infrastructure are projected to sustain strong demand for air-insulated switchgear worldwide.
List of Prominent Players in the Air-Insulated Switchgear Market:
• ABB, ltd.
• Schneider Electric
• Siemens AG
• General Electric Company
• Eaton Corporation, PLC
• Larsen & Toubro Limited
• Toshiba Corporation
• Crompton Greaves, Ltd.
• Elatec Power Distribution GmbH
• Epe Power Switchgear Sdn. BHD
• Efacec Power Solutions
• Alfanar Group
• Ormazabal
• Zpeu, PLC.
• Tavrida Electric AG
• C&S Electric Limited
• Lucy Electric
• Tepco Group
• Arteche
• Nissin Electric Co. Ltd.
• Kohl S.A R.L
• Medelec
• Matelec Group
• Pars Tableau
• Wenzhou Rockwell Transformer Co. Ltd.
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Market Dynamics:
Drivers:
The demand for air-insulated switchgear is projected to rise throughout the forecast period, propelled by increasing energy consumption in developed countries, higher electrification rates worldwide, and the ongoing expansion of electricity transmission and distribution (T&D) infrastructure. Global industrialization has resulted in heightened power usage across key sectors such as steel manufacturing and chemical production. Rapidly growing economies, notably India, China, and Brazil, with expanding industrial bases, are expected to further stimulate market growth. Additionally, the absence of comprehensive T&D networks in remote and rural regions has spurred considerable investments in electrification initiatives. Governments are also enacting supportive regulatory frameworks to ensure stable and continuous electricity supply. Concurrently, the development of microgrid systems and the integration of renewable energy sources are creating valuable opportunities for manufacturers of air-insulated switchgear.
Challenges:
The global economic downturn caused by the COVID-19 pandemic led to reduced industrial and commercial activities, adversely affecting the air-insulated switchgear market. Furthermore, the increasing preference for gas-insulated switchgear (GIS) as an alternative solution may constrain market growth, given that air-insulated switchgear substations typically require higher maintenance efforts, resulting in increased operational costs.
Regional Trends:
The Asia Pacific region is anticipated to secure a substantial share of the air-insulated switchgear market, exhibiting robust compound annual growth rates (CAGR) in the near term. Several countries in this region face challenges related to inadequate electrical distribution infrastructure, particularly in rural and remote areas, prompting significant investments in transmission network expansion. For instance, China experienced a 10% increase in power demand in 2021, driven by its industrial sector, including iron, steel, cement, and construction industries, alongside rising cooling requirements. In North America, ongoing investments in transmission and distribution infrastructure, coupled with a strong manufacturing sector, are expected to support market growth in air-insulated switchgear.
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Recent Developments:
• In April 2022, Tata Housing announced intentions to invest more than USD 145 million in land acquisition and development over the next two years. Furthermore, government measures to modernize electrical networks will increase the use of air-insulated switchgear components for residential power distribution.
Segmentation of Air Insulated Switchgear Market-
By Voltage Range
• 3kV-36 kV air-insulated switchgear
• >36 kV air-insulated switchgear
By Installation
• Indoor Air Insulated Switchgear
• Outdoor Air Insulated Switchgear
By Application-
• Transmission & Distribution
• Manufacturing and Processing
• Infrastructure & Transportation
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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