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Air Insulated Switchgear: A Leading Driver Behind Increasing Demand For Electricity Growth In Air Insulated Switchgear Market Expansion in 2025
Air Insulated Switchgear
What Will the Air Insulated Switchgear Industry Market Size Be by 2025?
The market for air-insulated switchgear has seen a robust expansion in recent times. The market size is expected to increase from $7.99 billion in 2024 and reach $8.6 billion in 2025, showcasing a compound annual growth rate (CAGR) of 7.6%. The factors which have contributed to the growth in the past include the development of smart grid networks, an increase in peak load demand, the enlargement of micro-grid networks, a surge in global electricity usage, and growth in industrial operations.
What's the Long-Term Growth Forecast for the Air Insulated Switchgear Market Size Through 2029?
It is anticipated that the air insulated switchgear market will experience significant expansion in the upcoming years, escalating to a value of $11.45 billion by 2029, with a compound annual growth rate (CAGR) of 7.4%. The predicted rise during this forecast period can be linked to factors such as urbanization traction, expansion in the marine industry, power utilities investments, the boom in renewable energy and burgeoning infrastructure project demands. The forecast period also signals key trends including the progression in smart grid development, infrastructure growth, introduction of smart and digital switchgear, energy storage mechanisms, the emergence of hybrid switchgear systems, the pressing adoption of smart grid technologies, the advent of compact, modular designs as well as the refurbishment and enhancement of current systems.
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What Are the Key Growth Drivers Fueling the Air Insulated Switchgear Market Expansion?
As the need for electricity surges due to factors such as population growth, urbanization, higher usage of electric vehicles, and renewable energy, the market for air-insulated switchgear is anticipated to see substantial growth. Air-insulated switchgear plays a pivotal role in the management of electricity by effectively controlling and safeguarding electrical equipment, enabling efficient power distribution, and reducing electrical errors. For example, global electricity demand is projected by the International Energy Agency (IEA), an autonomous organization based in France, to increase from 2.5% in 2023 to approximately 4% in July 2024. Hence, the growing requirement for electricity is propelling the expansion of the air-insulated switchgear market.
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What Are the Key Trends Driving Air Insulated Switchgear Market Growth?
Key players in the air-insulated switchgear sector are focusing on the creation of high-tech AIS medium-voltage switchgear to boost productivity, increase safety measures, and respond to the surging need for dependable power distribution systems. AIS medium-voltage switchgear, an electric device used in power systems to manage and safeguard circuits, uses air insulation to differentiate live components from grounded ones. For instance, ABB Ltd., a Swiss company specializing in power, heavy electrical equipment, and automation technologies, introduced the UniGear ZS1 in September 2023. This state-of-the-art air-insulated medium-voltage switchgear technology has been developed with a focus on sustainability and efficiency, addressing the significant challenges encountered by sectors such as oil and gas, utilities, and high-rise buildings. The 500-mm panel version is deemed to be the most compact in its class, making it ideal for environments with space limitations. Its design is not only space-efficient but also boosts energy distribution efficiency.
How Is the Air Insulated Switchgear Market Segmented?
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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Which Companies Are Leading the Charge in Air Insulated Switchgear Market Innovation?
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
Which Regions Are Leading the Global Air Insulated Switchgear Market in Revenue?
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.
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