The Air Insulated Switchgear Market is being driven by Growing renewable power generation
The Air Insulated Switchgear Market is expected to grow at a CAGR of 8.09% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 25881.8 million. The global shift towards smart grids is driving the demand for advanced metering technologies and energy-efficient appliances, necessitating more robust power protection and control systems. Air Insulated Switchgear (AIS), a crucial component of power distribution networks, plays a pivotal role in ensuring reliable power transmission. In contrast to traditional power grids, smart grids enable real-time monitoring and communication, enabling swift resolution of grid issues, optimized power distribution, and effective power leakage and theft detection. However, in conventional grids, AIS or its components are typically replaced only upon failure, resulting in operational inefficiencies and potential downtime. By integrating AIS with advanced communication technologies, grid operators can proactively maintain their networks, reducing response times and operational costs.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.09% |
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Market growth 2024-2028 |
USD 25881.8 million |
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Market structure |
fragmentation |
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YoY growth 2023-2024(%) |
7.32 |
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Key countries |
China, US, Japan, Germany, and Canada |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Air-insulated Switchgear (AIS) market is witnessing significant growth due to increasing commercial activities and electricity demand in the energy sector. Power utilities are the major consumers of AIS, with circuit breakers, bushings, and current transformers being key components. The aging electric infrastructure and the need for grid resiliency are driving the adoption of compact AIS substations. The integration of renewable energy sources and peak load demand require Grid Resilience, making Hybrid switchgear-based substations a popular choice. Existing grid networks face operational costs, security concerns, and import excise duties, necessitating retrofit and refurbishment of energy grid infrastructure. Smart meters and power distribution are also contributing to the market growth. Power transmission and peak load demand are other significant factors.
The Air Insulated Switchgear (AIS) market is a significant segment of the global electrical components and equipment industry. This market caters to the demand for electrical distribution and protection equipment in various sectors, including power utilities. With increasing electricity demand and aging power infrastructure, the need for reliable and efficient switchgear solutions is escalating. Gas-insulated switchgear (GIS) is another key segment, offering advantages of compact size and improved insulation. Hybrid switchgear-based substations, incorporating both AIS and GIS, are gaining popularity for their flexibility and cost-effectiveness. Circuit breakers, bushings, and other components are integral parts of these switchgear systems. The market encompasses the revenue generated by manufacturers of these components and equipment, as well as rental and leasing services to industrial, commercial, and residential end-users. Key players in this market include ABB, Siemens, Schneider Electric, and Mitsubishi Electric.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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