Air Insulated Switchgear Market Analysis

In terms of application, air insulated switchgear market from commercial & industrial segment surpassed USD 3.5 billion in 2022. This was a result of rapid industrialization and commercialization to propel economic growth and the subsequent increase in the reliance on primary and secondary power distribution and transmission networks. The adoption of fire-resistant, reliable, secure, advanced, and energy-efficient equipment has also surged. Furthermore, the escalating FDI in renewable energy will amplify the production of switchgear systems to safeguard clean energy plants for commercial and industrial applications.
 

North America accounted for 23% share of the global air insulated switchgear market in 2022, on account of the mounting investment in energy infrastructure. For instance, in January 2023, the USDA announced an investment of USD 2.7 billion to aid electric utilities and cooperatives in expanding and modernizing the rural electric grid, as well as enhancing grid security in the nation. Additionally, the introduction of favorable regulatory policies to design low-emission electric components will further add impetus to regional business expansion.