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Air Insulated Medium Voltage Switchgear Market Trends

Report ID: GMI7108
Published Date: Oct 2023
Report Format: PDF

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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.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market valuation of air insulated medium voltage switchgear was worth USD 5.4 billion in 2023 and is envisioned to record over 7.5% CAGR from 2024 to 2032.

The circuit breakers segment value was exceeded USD 2.6 billion in 2022 and will surpass USD 5 billion by 2032 as they play a pivotal role in safeguarding the safety and reliability of electrical distribution systems.

Asia Pacific air insulated medium voltage switchgear market is anticipated to observe over 5% CAGR from 2023 to 2032, owing to the region's rapid industrialization and urbanization which are leading to an increased demand for reliable and efficient electrical distribution systems.

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, and CAHORS.