Air Insulated Medium Voltage Switchgear Market Size - By Component (Circuit Breakers, Contactors, Switches & Disconnector, Fuses), By End Use (Power Stations, Transformer Substations, Local Electricity Supply), Voltage, Application & Forecast, 2024 – 2032

Air Insulated Medium Voltage Switchgear Market Size

Air Insulated Medium Voltage Switchgear Market was valued at USD 5.4 billion in 2023 and is set to register over 7.5% CAGR between 2024 and 2032. The increasing focus on renewable energy sources like wind and solar power has necessitated the expansion and modernization of electrical grids. This has led to a growing demand for air-insulated switchgear to ensure reliable power distribution. Increasing environmental regulations and a focus on reducing greenhouse gas emissions are driving the adoption of more eco-friendly air-insulated switchgear solutions. In addition, The need to fortify the resilience and security of electrical grids against disruptions and cyber threats is encouraging investments in modern switchgear technologies.
 

The need for efficient and environmentally friendly solutions is promoting the adoption of air-insulated medium voltage switchgear due to its lower environmental impact compared to some other alternatives. Additionally, the growing industrialization in emerging economies and the need for safe and reliable electrical distribution systems further boost the market. Futhermore, the rise in smart grid initiatives and infrastructure development projects worldwide contributes to the market's expansion.
 

COVID-19 Impact

The COVID-19 pandemic had a discernible impact on the air insulated medium voltage switchgear market. While the demand for electricity distribution systems remained relatively stable, the market experienced challenges due to disruptions in the global supply chain and construction delays in various regions. These issues temporarily affected the delivery and implementation of MV switchgear projects. However, the pandemic also highlighted the importance of reliable and efficient electrical distribution, as remote work and telecommuting became widespread. Despite these short-term disruptions, the long-term outlook for the market remains positive, as the world's reliance on electricity continues to expand across various applications.
 

Air Insulated Medium Voltage Switchgear Market Trends

The air insulated medium voltage switchgear industry is witnessing several key trends. There is a growing emphasis on eco-friendly and sustainable solutions, leading to increased interest in air-insulated switchgear, which does not rely on greenhouse gases like SF6. Additionally, the integration of digital technologies, such as IoT and smart grid solutions, is enhancing the capabilities of air-insulated MV switchgear, enabling real-time monitoring and predictive maintenance. Furthermore, modular and compact designs are gaining traction, allowing for easier installation and flexibility in grid configurations.
 

The market is also seeing a shift toward more robust and durable materials to withstand harsh environmental conditions, ensuring the longevity and reliability of air-insulated MV switchgear in various applications. These trends collectively reflect a commitment to environmental responsibility, operational efficiency, and reliability in the air-insulated MV switchgear market.

Air Insulated Medium Voltage Switchgear Market Analysis

The switchgear rated at ≥ 21 kV to < 27 kV dominated the 23% of the market share in 2022, with a projected CAGR of over 8% through 2032. Because of the increasing demand for secure and reliable distribution networks across industrial, residential, utility, and commercial sectors. The ongoing development of substantial residential complexes and apartment buildings, largely influenced by the migration to suburban areas, is anticipated to make a substantial contribution to this heightened demand.
 

This circuit breakers exceeded USD 2.6 billion in 2022 and is estimated to surpass USD 5.1 billion by 2032. Circuit breakers play a pivotal role in safeguarding the safety and reliability of electrical distribution systems. The growing demand for improved reduced downtime, grid stability, and efficient fault-clearing mechanisms in industries and utilities has driven the adoption of gas-insulated medium voltage switchgear equipped with advanced circuit breakers. As global dependence on electricity for diverse applications continues to rise, circuit breakers within gas-insulated medium voltage switchgear remain indispensable, ensuring the market's sustained growth.
 

The air insulated medium voltage switchgear market experiences notable growth from its application in transformer substations. Transformer substations are crucial components of the electrical distribution infrastructure, facilitating the transformation of voltage levels to ensure efficient power distribution across various sectors. The deployment of air-insulated MV switchgear in transformer substations contributes to enhanced reliability, safety, and operational efficiency in managing voltage transformation and power flow control. As industries and utilities prioritize grid modernization and power infrastructure upgrades, the application of air-insulated MV switchgear in transformer substations continues to drive the market's growth trajectory.
 

The utility sector is likely to register gains at nearly 7% up to 2032. Utilities are at the forefront of investments in modernizing power distribution networks to enhance efficiency, reliability, and resilience. Air-insulated MV switchgear systems play a crucial role in this process, enabling advanced functionalities such as smart metering, automation, and remote monitoring. Moreover, the increasing integration of renewable energy sources like solar and wind power into utility grids further drives the demand for air-insulated MV switchgear.
 

Asia Pacific air insulated medium voltage switchgear market is anticipated to grow at a CAGR of over 5% through 2032, owing to the region's rapid industrialization and urbanization which are leading to an increased demand for reliable and efficient electrical distribution systems. The rise of renewable energy sources, such as solar and wind power, and the need for grid integration are further fueling the demand for these switchgear solutions, especially in emerging economies. Stringent regulations and standards for safety and environmental protection are also encouraging the deployment of eco-friendly air-insulated MV switchgear.
 

Air Insulated Medium Voltage Switchgear Market Share

In the market for air-insulated medium voltage switchgear, ABB has firmly established its presence as a major player, commanding a substantial market share. ABB's leadership in this market is founded on its unwavering commitment to innovation, cutting-edge technology, and a comprehensive range of high-quality switchgear solutions. Renowned for their compact design, robust performance, and advanced safety features, ABB's air-insulated switchgears are the preferred choice for a wide range of industries and utilities. Furthermore, ABB's extensive global reach and a vast network of service and support facilities solidify its position in the market, providing customers with reliability and peace of mind.
 

Some of the key market players operating across the air insulated medium voltage switchgear industry are:

• ABB
• Siemens
• Schneider Electric
• Eaton
• HYOSUNG HEAVY INDUSTRIES
• Toshiba Infrastructure Systems & Solutions Corporation
• Ormazabal
• CG Power & Industrial Solutions Ltd
• NISSIN ELECTRIC Co.,Ltd.
• Xiamen Huadian Switchgear Co., Ltd.
• Lucy Group Ltd.
• HD Hyundai Electric Co., Ltd.
• Switchgear Company
• Yueqing Liyond Electric Co., Ltd.
• Bulox Corporation
• CAHORS
   

Air Insulated Medium Voltage Switchgear Market News:

• In April 2021, Siemens launched 8DJH 24, its new switchgear along with RMU for up to 24 kV, which does not contain fluorinated gases. The MV switchgear uses clean air technology, which is a climate-neutral insulation medium consisting of exclusively natural components from ambient air. This switchgear eliminates Sulfur Hexafluoride (SF6) or any gas mixture with fluorine.
   
• In October 2020, ABB launched its latest ANSI digital switchgear portfolio, which is UL-certified. The product portfolio is flexible and provides complete control & protection. It offers increased safety and space saving compared to the conventional switchgear. The total cost of ownership of this switchgear portfolio is also low. In addition, digitalization will improve the control & protection system of switchgears to increase versatility and safety.
   

This air insulated medium voltage 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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By Voltage

• ≥ 3 kV to < 9 kV
• ≥ 9 kV to < 15 kV
• ≥ 15 kV to < 21 kV
• ≥ 21 kV to < 27 kV
• ≥ 27 kV to < 33 kV
• ≥ 33 kV

By Component

• Circuit Breakers
• Contactors
• Switches & Disconnector
• Fuses
• Others

By Insulation

• Air
• Gas
• Oil
• Gas
• Others

By End Use

• Power Stations
• Transformer Substations
• Local Electricity Supply
• Others

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
  • Spain
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Oman
  • South Africa
  • Egypt
• Latin America
  • Brazil
  • Peru
  • Argentina