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AC Vacuum Insulated Switchgear Market Trends

Report ID: GMI8413
Published Date: Mar 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market valuation of the AC vacuum insulated switchgear was reached USD 70.5 billion in 2023 and is expected to achieve about 7.1% CAGR between 2024 and 2032, owing to the increasing demand for reliable & efficient electrical distribution systems, especially in urban areas and industrial settings.

The low voltage AC vacuum insulated switchgear segment share was over 54% in 2023 and is poised to grow significantly through 2032, due to increasing demand from residential and commercial sectors.

Asia Pacific AC vacuum insulated switchgear industry 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.

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, and S&C Electric Company.