AC Vacuum Insulated Switchgear Market Size - By Voltage (Low, Medium, High), By Application (Residential, Commercial & Industrial, Utility), Regional Outlook & Global Forecast, 2024 – 2032

AC Vacuum Insulated Switchgear Market Size

AC Vacuum Insulated Switchgear Market was reached USD 70.5 billion in 2023 and is expected to achieve around 7.1% CAGR between 2024 and 2032. Increasing demand for reliable and efficient electrical distribution systems, especially in urban areas and industrial settings, propels market expansion.
 

Moreover, the integration of renewable energy sources into the grid and the need for grid modernization initiatives coupled with the advancements in vacuum technology and insulation techniques will contribute to the rapid uptake for AC VIS solutions.
 

COVID–19 Impact

The COVID-19 pandemic disrupted the AC vacuum insulated switchgear market, causing delays in manufacturing, supply chain disruptions, and project postponements. However, increased emphasis on reliable electricity infrastructure and the need for efficient energy distribution amidst the crisis fueled market recovery, driving innovation and demand for advanced switchgear solutions.
 

AC Vacuum Insulated Switchgear Market Trends

AC vacuum insulated switchgear industry is projected to witness a steady demand growth owing to the growing focus on sustainability, with the adoption of eco-friendly materials and energy-efficient designs. Digitalization is driving the integration of smart technologies, enhancing monitoring and control capabilities. The rising demand for compact and modular switchgear solutions to optimize space utilization in urban environments. Additionally, there's increasing investment in research and development to enhance product efficiency and meet evolving regulatory standards.
 

AC Vacuum Insulated Switchgear Market Analysis

Based on voltage, the low voltage AC vacuum insulated switchgear industry held a major market share of over 54% in 2023 and is poised to grow significantly, due to increasing demand from residential and commercial sectors. Low-voltage switchgear is favored for its versatility, cost-effectiveness, and safety features, making it ideal for various applications including distribution substations, industrial plants, and renewable energy installations. The proliferation of smart grids and the integration of renewable energy sources are further driving the adoption of low-voltage switchgear solutions. This segment is poised for continuous expansion as modernization efforts in infrastructure persist and energy consumption patterns evolve.
 

The utility AC vacuum insulated switchgear market is projected to witness about 6.5% CAGR through 2032, The utility sector is a key driver of growth leveraging advanced switchgear solutions to enhance grid reliability and efficiency. Utilities are increasingly investing in modernization projects to upgrade aging infrastructure, improve power distribution, and integrate renewable energy sources. Moreover, stringent regulatory requirements for grid reliability and safety standards are prompting utilities to deploy innovative switchgear technologies.
 

Asia Pacific AC vacuum insulated switchgear market is anticipated to surpass USD 50 billion by 2032, owing to the rapid industrialization, urbanization, and infrastructural development across emerging economies like China, India, and Southeast Asian nations. Rising demand for reliable electricity distribution networks, coupled with government initiatives to modernize power infrastructure and integrate renewable energy sources, is fueling market expansion.
 

Additionally, increasing investments in smart grid initiatives and the adoption of advanced switchgear technologies contribute to the region's market growth. In 2022, Japan introduced a funding program amounting to USD 155 billion, designed to incentivize investments in the advancement of smart power grid infrastructure, which propels the deployment of various types of AC switchgears across the region.
 

AC Vacuum Insulated Switchgear Market Share

Siemens stands out as one of the largest players in the AC vacuum insulated switchgear industry. Renowned for its extensive portfolio of innovative switchgear solutions, Siemens leverages advanced technology and global expertise to deliver reliable and efficient electrical infrastructure. With a strong focus on sustainability and digitalization, Siemens continues to drive transformative advancements in the power distribution sector worldwide.
 

AC Vacuum Insulated Switchgear Market Companies

Some of the major key players operating across the industry are:

• ABB
• Bharat Heavy Electricals Limited
• DOHO Electric
• Dongdian
• Eaton
• Electro-Mechanical, LLC
• General Electric
• Ghorit Electrical Co., Ltd.
• Hitachi, Ltd.
• Mitsubishi Electric Power Products, Inc.
• Orecco
• Rotary Switchgear & Testing Pte. Ltd
• S&C Electric Company
• Schneider Electric
• Siemens
• Toshiba International Corporation
• WEG
• Yueqing Luban Technology Co., Ltd.
• Zhejiang Volcano Electrical Technology Co.,Ltd
   

AC Vacuum Insulated Switchgear Industry News

• In October 2023, Siemens unveiled its latest medium-voltage switchgear series, named '8DAB 24', aimed at advancing the decarbonization of power grids with minimized CO2 emissions. This product line prioritizes reliability, operational safety, and compact design. Integrating smart sensors enhances asset visibility, while cloud-based analysis enables effective predictive maintenance, reducing downtime and associated costs. The company intends to strengthen its market presence through the launch of this innovative product range.
   
• In August 2023, Eaton committed USD 500 million to expand its North American manufacturing, meeting rising demand for electrical solutions. The investment aims to bolster the supply of power distribution equipment for infrastructure projects across industries. Focus will be on upgrading switchgear and switchboard manufacturing facilities, vital for powering customers throughout North and Latin America. This initiative highlights Eaton's dedication to enhancing production capacity in response to increasing market needs.
   

This AC vacuum insulated switchgear market research report includes an in–depth coverage of the industry with estimates & forecast in terms of units and revenue in ‘‘000 Units’ and ‘USD Million’ from 2019 to 2032, for the following segments:

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Market, By Voltage

• Low
• Medium
• High

Market, By Application

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
• Latin America
  • Brazil
  • Argentina