Air Insulated Switchgear Market Size to grow by USD 25881.8 million between 2024-2028
According to a research report “ Air Insulated Switchgear Market” by Power Rating (Low voltage, Medium voltage, High voltage) Deployment (Indoor, Outdoor) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 25881.8 million, at a CAGR of 8.09% during the forecast period. The air insulated switchgear market is poised for substantial growth due to the rising production and demand for renewable energy sources. With growing concerns over environmental pollution and global warming, governments worldwide are anticipated to boost investments in renewable power generation during the forecast period. Air insulated switchgears play a crucial role in managing power flow by interrupting current in case of overloads. The expansion of power grids to accommodate the addition of renewable energy capacity necessitates the deployment of advanced power control and safety equipment at electricity generation sites and interconnection points between the supply line and transmission network.
Browse market data tables, figures, and in-depth TOC on “Air Insulated Switchgear Market” by Power Rating (Low voltage, Medium voltage, High voltage) Deployment (Indoor, Outdoor) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Power Rating, the Low voltage segment is projected to dominate the market size in 2024
The indoor segment of the global air insulated switchgear market holds substantial significance, encompassing a diverse array of products engineered for various applications within commercial, industrial, and residential structures. Notable installations in this category include power distribution centers, which distribute electrical power to equipment and machinery in commercial or industrial facilities, control panels that manage and monitor electrical systems such as HVAC, lighting, and security systems in buildings, and substations, which control and distribute power to consumers, either on-premises for utility companies or within buildings.
By Deployment, Indoor segment is expected to hold the largest market size for the year 2024
The low voltage segment, which encompasses air insulated switchgear operating up to 1 kV, holds significant importance in the global market due to its extensive applications across various industries. This segment caters to the distribution of power in residential, commercial, and industrial sectors, as well as infrastructure and transportation projects. Notable applications include data centers, hospitals, malls, airports, and petrochemical and manufacturing industries. Major players, such as ABB Ltd., provide low-voltage air insulated switchgear solutions on a global scale.
APAC is forecasted to hold the largest market size by region in 2024
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The Air Insulated Switchgear Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Air Insulated Switchgear (AIS) market is witnessing significant growth due to the increasing demand for electricity and the need to upgrade and expand existing grid networks. Import and excise duties on electrical equipment, including switchgear, can impact the market's competitiveness. However, the energy grid infrastructure's ongoing modernization and the integration of renewable energy sources are driving the demand for AIS. Retrofit and refurbishment of existing substations and power distribution networks are crucial for improving grid resilience and operational costs. Peak load demand and security concerns are also key factors boosting the market's growth. The integration of renewable energy sources into the electricity grid requires advanced AIS solutions, such as hybrid switchgear-based substations, to ensure grid resiliency and stability. The power transmission and distribution segments, including current transformers, bushings, circuit breakers, and Gas-Insulated Switchgear (GIS) and Air-Insulated Switchgear (AIS), are expected to witness substantial growth. The energy sector and power utility segment are the primary consumers of AIS. Compact substations and smart meters are also gaining popularity due to their efficiency and cost-effectiveness. The aging power infrastructure and increasing electricity demand are further fueling the market's growth.
Market Research Overview
The Air Insulated Switchgear (AIS) market is poised for growth in the context of the strong electricity demand driven by economic recovery and the shift towards sustainable and affordable energy. However, challenges such as fiscal resource diversion due to lockdowns and supply chain disruptions pose risks. AIS plays a crucial role in providing reliable energy by insulating high-tension power lines using natural components like ambient air, aligning with clean air technology. Favorable regulatory policies and grid security concerns are driving the adoption of advanced equipment like RMUs, 8DJH 24 switchgear, and low-emission electric components. The universal energy goal necessitates the development of energy grids in rural areas, and the USDA is investing in clean energy plants and switchgear systems. Energy-efficient equipment and retrofit and refurbishment of existing grid networks are essential for managing operational costs, peak load demand, and security. Renewable integration and grid resilience are key considerations, with the aging power infrastructure and energy sector undergoing a paradigm shift towards smart meters and advanced equipment. Raw material prices and import excise duties impact the cost of energy grid infrastructure, while infrastructural developments, transmission line networks, and cooling requirements drive construction costs. Developing economies and load centers in rural areas require compact substations, power distribution, and current transformers, bushings, and circuit breakers. The AIS market encompasses GIS, AIS, and hybrid switchgear-based substations, catering to the needs of commercial establishments, small-sized industries, and the power utility segment. The market is expected to grow with the commercialization of energy storage and the rapid industrialization of the energy sector.
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