Air-Insulated Switchgear Market Scope, Growth and Forecast to 2031

The Global Air-Insulated Switchgear Market Size is valued at USD 8.0 billion in 2023 and is predicted to reach USD 12.2 billion by the year 2031 at a 5.58% CAGR during the forecast period for 2024-2031.

Key Industry Insights & Findings from the Report:

Growing demand for electricity and a surge in financial support from expanding power plants lead to market growth.
The heightened concern for the environment and incentives from the government and regulators that play a significant role in promoting air-insulated switchgear systems are expected to drive industry growth.
North America dominated the market and accounted for a global revenue share in 2023.
One significant concern is restraining the high cost of competing technologies and providing alternative technology.

air insulated

Air-insulated switchgear (AIS) is a form of electrical switchgear that insulates the elements that transport current with air. This form of switchgear, which can be enclosed or open, is utilized in high-voltage applications. When air is used as an insulating medium, larger voltages and currents can be handled without the risk of electrical arcing. In response to environmental concerns, many countries around the world have enacted laws and regulations to minimize the use of hydrocarbons in electricity generation, which is projected to expand the growth of the global air-insulated switchgear market.

Significant investment by developing countries in electrifying rural areas, as well as increasing network development, have fueled the growth of the worldwide air-insulated switchgear market. Furthermore, the growing demand for resilient and highly reliable electric networks across various business verticals has fueled market expansion.

However, The COVID-19 pandemic reduced worldwide economic growth, which slowed industrial and commercial activity, and hindered the air-insulated switchgear market development.

Furthermore, the use of gas-insulated switchgear (GIS) as an alternative to air-insulated switchgear is anticipated to hinder market growth during the projection period, as air-insulated switchgear substations require high maintenance, resulting in increased operational expenses.

Recent Developments:

In February 2024, Eaton, a power management business, announced that its Mobility Group is introducing new mobile power solutions. These include directional hydraulic control valves from APSCO and the Bezares 3960, 2500, and 500 series of power takeoff (PTO) units.

In January 2024, The European Investment Bank, the European Union's lending arm, and ABB agreed to a €500 million deal to enhance ABB's electrification business sector research and development.

In March 2024, GE Vernova unveiled Proficy for Sustainability Insights, a new software solution that helps manufacturers achieve their sustainability goals and enhance efficiency and profitability.

Competitive Landscape:

Some of the air-insulated switchgear market players are:

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

Market Segmentation:

The air-insulated switchgear market is segmented on the basis of voltage range, installation, and application. Based on voltage, the market is segmented as 3kV-36 kV air-insulated switchgear and >36 kV air-insulated switchgear. The installation segment includes indoor air-insulated switchgear and outdoor. By application, the market is segmented into transmission & distribution, manufacturing and processing, infrastructure & transportation, and others.

The>36 Kv Air-Insulated Switchgear Segment Is Valued As A Major Contributor In The Air Insulated Switchgear Market Based On Voltage

The >36 kV air-insulated switchgear category is expected to hold a major share in the global air-insulated switchgear market in 2022. It is intended to protect electrical equipment against excessive quantities of energy present in an electric field. This sort of switchgear, also known as an EMI filter, can help limit the amount of interference that electronic equipment experiences.

Infrastructure & Transportation Segment Witness Growth At A Rapid Rate

The infrastructure & transportation segment is projected to grow rapidly in the global air-insulated switchgear market due to the presence of a robust electrical grid network throughout major economies such as North America and Europe. This issue has resulted in increased demand for air-insulated switchgear from countries such as the United States, Canada, Mexico, China, Japan, and others, who have spent heavily in developing their power grid networks in recent years.

In The Region, The Asia Pacific Air-Insulated Switchgear Market Holds A Significant Revenue Share

The Asia Pacific air-insulated switchgear market is expected to record an augmented market share in revenue shortly, owing to the rising demand for higher-voltage power distribution systems in growing markets such as China, India, Indonesia, Malaysia, and Thailand. Furthermore, rising investments in new power generation facilities and increased demand from end-use sectors are expected to boost growth in this region throughout the projection period. Increasing investments in the renewable energy industry in North America and aging power infrastructure will likely provide market participants with significant business prospects in the next years.