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

The Global Air-Insulated Switchgear Market Size is valued at 7.90 billion in 2022 and is predicted to reach 12.26 billion by the year 2031 at a 5.20% CAGR during the forecast period for 2023-2031.

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.

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 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.

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.