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Air Insulated Switchgear Market Size By Voltage (Medium {> 3 kV to ≤ 36 kV}, High {> 36 kV}), By Application (Residential, Commercial & Industrial, Utility), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI5437
  • Published Date: Feb 2023
  • Report Format: PDF

Industry Statistics

Air Insulated Switchgear Market size valued at USD 8 billion in 2022 and is projected to depict at more than 8% CAGR from 2023 to 2032, as a result of the introduction of grid resilience programs and smart meter adoption.
 

Air Insulated Switchgear Market

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A paradigm shift toward information technology integration is influencing global energy and electricity trends. Due to such technological advancements, the adoption of smart meters in power transmission and distribution has surged. The strong focus on grid resiliency has also accelerated the development of electric infrastructure. For instance, in August 2022, the U.S. DOE sought input on the Grid Resilience and Innovation Partnership Program of USD 10.5 billion to increase the reliability of America’s electric grid. Such initiatives will foster the installation of air-insulated switchgear components for power distribution applications.

The modernization of existing grid networks has also become imperative to boost renewable integration, enhance security, lower peak load demand, and cut operational costs. The growing retrofit and refurbishment of energy grid infrastructure will therefore provide lucrative growth opportunities for air-insulated switchgear manufacturers. However, the imposition of higher import excise duties and the subsequent rise in raw material prices may hinder industry expansion to some extent.
 

Upgradation of small-scale industries will stimulate air-insulated MV switchgear installation

Air Insulated Switchgear Market Share, By Voltage

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The air insulated switchgear market from the medium (> 3 kV to ≤ 36 kV) voltage segment is slated to register over 7.5% growth rate between 2023 and 2032 impelled by the increasing upgradation and refurbishment of small-sized industries. Commercial establishments are also emphasizing the integration of medium voltage air-insulated switchgear for energy storage and power distribution applications. In addition, the mounting energy demand in isolated load centers and the development of high-tension power networks will further augment the use of air-insulated MV switchgear.
 

Rising investment in clean energy to drive air-insulated switchgear use for commercial & industrial applications

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of air insulated switchgear crossed USD 8 billion in 2022 and will depict over 8% gains through 2032, as a result of the introduction of grid resilience programs and smart meter adoption.

The medium (> 3 kV to ? 36 kV) segment is slated to register over 7.5% CAGR from 2023 to 2032, owing to the increasing upgradation and refurbishment of small-sized industries.

North America accounted for over 23% of the revenue share in 2022, on account of the mounting investment in energy infrastructure.

Key participants in the global industry include Toshiba Corporation, Beijing Sojo Electric Company Limited, Schneider Electric, Hitachi Energy Ltd., Mitsubishi Heavy Industries, Ltd., General Electric, ABB, and Siemens, among others.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 16
  • Tables & Figures: 513
  • Countries covered: 23
  • Pages: 300

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