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Vacuum Insulated Switchgear Market Size - By Voltage (Low, Medium, High), By Current (AC, DC), By Application (Residential, Commercial & Industrial, Utility) & Global Forecast, 2023 – 2032

  • Report ID: GMI6196
  • Published Date: Jul 2023
  • Report Format: PDF

Vacuum Insulated Switchgear Industry Analysis

Vacuum Insulated Switchgear Market size was valued at USD 74.5 billion in 2022 and is poised to grow at over 7.1% CAGR from 2023 to 2032, owing to the numerous advantages offered by the technology. Vacuum insulation eliminates the need for hazardous substances such as SF6 gas, reducing the risk of fire, explosion, and environmental pollution. It provides a safer operating environment for personnel and reduces the potential for equipment damage, thus complementing the market growth. The global market for switchgear is likely to grow at around 7% growth rate through forecast period.

Vacuum Insulated Switchgear Market

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Vacuum offers excellent dielectric strength, enabling effective insulation and arc quenching in VIS. This allows for compact and reliable switchgear designs with reduced spacing requirements. Moreover, the growing need for reliable and uninterrupted power distribution in various sectors, including utilities, industries, commercial buildings, and infrastructure, is driving the demand for VIS. These units ensures efficient and reliable power transmission and distribution, contributing to the overall stability and quality of electrical grids, therefore ensuring a substantial rise in product deployment in the coming years.


COVID-19 Impact

The commercial and industrial sectors in countries like China, the U.S., and India witnessed a decline in electricity demand during the COVID-19 pandemic due to containment measures and temporary closures of manufacturing facilities. This led to decreased utility investments in grid projects. However, as companies reorganize their operations and adapt to the changing circumstances, the vacuum insulated switchgear market is expected to experience significant growth in the near future. Moreover, the increasing electricity demand in remote areas and government initiatives to provide power to rural regions will positively impact the industry size.

Despite a slight decline in the power sector in 2020 due to the pandemic, there were ongoing efforts to install and deploy power solutions, although some restrictions were imposed on construction sites. The industry has faced challenges such as increased raw material prices, which have influenced overall market conditions. However, the industry is poised for rapid growth due to government initiatives promoting sustainable power solutions and ambitious plans to enhance grid infrastructure with efficient power systems. The demand for refurbishing and replacing aging electrical components, coupled with robust investments in grid network modernization, creates favorable prospects for the vacuum insulated switchgear market.

Government support, increasing infrastructure investments, and the need to modernize grid networks are driving opportunities for companies operating in this sector. The power sector remains a vital aspect of the economy, and efforts to strengthen and upgrade power systems will drive the demand for vacuum insulated switchgear.

Vacuum Insulated Switchgear Market Trends

The adoption of distributed generation and smart grid networks has increased the demand for efficient power supply units, including vacuum insulated switchgears. Additionally, the prominence of heavy-duty industrial machinery and large-scale motor control operations has fueled the need for circuit protection equipment. The expansion of residential, commercial, and industrial electricity networks, driven by suburban migration and reliance on manufactured products, has further contributed to the growing demand for vacuum insulated switchgears.

Government schemes aimed at expanding power grid infrastructure and deploying stand-alone micro-grid projects in underserved areas have propelled the industry forward. Concerns related to fire hazards, electrical supply faults, health risks, and operational hazards have also heightened the importance of vacuum insulated switchgears. Developing economies with inadequate electric grid networks and developed economies focused on infrastructure advancement offer favorable conditions for industry growth.

Major companies are enhancing their product portfolios and engaging in strategic acquisitions and mergers to drive the vacuum insulated switchgear market growth. The demand for primary and secondary electric distribution networks is influenced by rapid commercialization, industrialization, and Foreign Direct Investment (FDI) schemes supporting the industrial and commercial sectors. The ongoing digitalization trend, driven by the increasing energy demand from communication base stations and data centers, has created a competitive business environment. Customers' preference for advanced, energy-efficient, reliable, and fire-resistant electric components to ensure a safe living environment and mitigate risks associated with abrupt current flow in electric circuits has further boosted the industry's advantages.

Vacuum Insulated Switchgear Voltage Segmentation

Vacuum Insulated Switchgear Market Size, by Voltage, 2021 - 2032, (USD Billion)

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The low voltage vacuum insulated switchgears market was reached USD 40.5 billion revenue in 2022 and is anticipated to witness 7.5% CAGR through 2032. The growing emphasis on energy efficiency and sustainability is driving the demand for LV-VIS. These switchgear systems offer higher efficiency, lower energy losses, and reduced environmental impact compared to traditional switchgear alternatives, making them attractive for various applications. Safety and Reliability Requirements: LV-VIS provides enhanced safety features and reliable operation, offering protection against electrical faults and minimizing the risk of fire hazards.

With stringent safety regulations and the need for uninterrupted power supply, LV-VIS is favored for applications where safety and reliability are critical, such as commercial buildings, data centers, and industrial facilities. In addition, the expansion of infrastructure, including residential, commercial, and industrial projects, creates a demand for reliable and efficient low voltage switchgear. Low voltage vacuum insulated switchgear is essential for electrical power distribution, control, and protection in these projects.

Vacuum Insulated Switchgear Current Segmentation

Vacuum Insulated Switchgear Market Revenue Share, By Current, 2022

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The AC vacuum insulated switchgear market is set to observe around 7% CAGR till 2032. The AC power distribution component industry is expected to experience significant growth due to its key product features, such as low economic losses, reduced heat generation, and the ability to handle and conduct high-end voltage levels effectively and flexibly. The ease of transformation, along with competitive costs, economic machinery expenses, and simplified installation and manufacturing processes, are driving the demand for these components.

Furthermore, since the majority of countries worldwide have adopted AC distribution infrastructure as a standard, these products find widespread applications and feasibility across the industry. The proximity between geographical locations, production facilities, and application requirements provides a strong foundation for technological advancements, further contributing to the growth of the AC power distribution component industry.

Vacuum Insulated Switchgear Application Segmentation

The vacuum insulated switchgears market from the utility sector is predicted to continue growing at a CAGR of over 6.5% until 2032. Utilities are increasingly investing in grid modernization initiatives to enhance the efficiency, reliability, and resilience of their power distribution networks. VIS plays a pivotal role in this modernization process by facilitating advanced functionalities such as smart metering, automation, and remote monitoring.

By integrating VIS, utilities can improve grid infrastructure, enabling more efficient energy management and enhancing overall performance. The rising deployment of renewable energy sources, including solar and wind power, necessitates their seamless integration into existing utility grids. VIS enables safe and effective integration by effectively managing power flow, voltage levels, and grid protection. This capability ensures the smooth and reliable integration of renewable energy generation, supporting the transition to cleaner and more sustainable power sources.

Furthermore, with the increasing frequency and severity of natural disasters and other disruptions, grid resilience and reliability have become paramount for utilities. VIS with advanced fault detection, isolation, and restoration capabilities play a crucial role in maintaining the robustness and dependability of grid infrastructure. Their ability to quickly identify and isolate faults contributes to minimizing downtime and ensuring uninterrupted power supply, thus enhancing grid resilience.

Vacuum Insulated Switchgear Regional Analysis

Asia Pacific Vacuum Insulated Switchgear Market Size, 2021 - 2032, (USD Billion)

The Asia Pacific vacuum insulated switchgear market is slated  to surpass USD 57.6 billion in value by 2032, driven by the growing demand for effective Transmission & Distribution (T&D) systems. The need to upgrade and restore existing electrical setups has led to increased funding in the energy infrastructure sector, spurring the overall growth of the switchgear market. Key factors such as cost-effectiveness, reliability, longevity, and operational flexibility are anticipated to shape the industry landscape significantly.

Companies are actively engaged in continuous research and development to develop effective switchgear components and invest in manufacturing energy-efficient products as strategic initiatives to drive growth. The deployment of renewable energy sources on a large scale and the expansion of smart grid networks in various nations in the Asia Pacific region will positively impact the adoption of vacuum insulated switchgear products. Moreover, the region's increasing focus on sustainability and efficient energy management creates favorable market conditions for the switchgear industry.

In countries like China, India, and other Asian nations, industries have emerged as significant energy consumers. The expansion of high and extra-high tension lines to meet the growing demands of these industrial establishments will be a key driver for the vacuum insulated switchgear market growth. There is also a strong emphasis on refurbishing and retrofitting existing T&D networks to ensure reliable and uninterrupted electricity supply to industries, further boosting the demand for these units. The vacuum insulated switchgear industry in the.

Asia Pacific region is poised for substantial growth due to increasing investments in new grid infrastructure development. Financial institutions such as the World Bank, International Finance Corporation (IFC), and the Asian Development Bank (ADB) are providing funding support for electrification projects, further contributing to the industry growth.

Vacuum Insulated Switchgear Industry Leaders

Notable companies operating in the vacuum insulated switchgear market include Eaton, Zhejiang Volcano Electrical Technology Co.,Ltd, Electro-Mechanical, LLC, DOHO Electric, Hitachi, Ltd., Siemens, Bharat Heavy Electricals Limited, Mitsubishi Electric Power Products, Inc., Rotary Switchgear & Testing Pte. Ltd, and S&C Electric Company.

Major companies in the vacuum insulated switchgear market have adopted strategic measures, including the formation of alliances and partnerships, as well as increased investments in research and development activities. These companies are prioritizing the development of high-volume and high-speed manufacturing capabilities to produce switchgears with competitive pricing and enhanced qualities.

Vacuum Insulated Switchgear Industry News:

  • In April 2021, Siemens recently introduced its latest switchgear solution, the 8DJH 24, along with a Ring Main Unit (RMU) designed for voltages up to 24 kV. What sets this product apart is its utilization of clean air technology, making it free from fluorinated gases. The switchgear employs an insulation medium consisting entirely of natural components sourced from ambient air, making it climate neutral. This innovative advancement eliminates the need for Sulfur Hexafluoride (SF6) or any gas mixture containing fluorine gases as an insulating medium.

This vacuum insulated switchgear market research report includes an in-depth coverage of the industry with estimates & forecast in terms of ‘000 Units & USD Million from 2019 to 2032, for the following segments:

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Market, By Voltage

  • Low
  • Medium
  • High

Market, By Current

  • AC
  • DC

Market, 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
  • Asia Pacific
    • China
    • Australia
    • India
    • Japan
    • South Korea
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • South Africa
  • Latin America
    • Brazil
    • Argentina


Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of vacuum insulated switchgear was reached USD 74.5 billion in 2022 and is estimated to surpass USD 149.5 billion by 2032, due to its numerous advantages.

AC vacuum insulated switchgear market is expected to witness 7% CAGR from 2023 to 2032, owing to their increasing adoption to offer low economic losses and reduced heat generation.

Asia Pacific market size is projected to reach USD 57.6 billion by 2032, attributed to the rising demand for effective Transmission & Distribution (T&D) systems.

Some of the top companies operating in the market are Eaton, Zhejiang Volcano Electrical Technology Co., Ltd., Electro-Mechanical, LLC, DOHO Electric, Hitachi, Ltd., Siemens, Bharat Heavy Electricals Limited, and Mitsubishi Electric Power Products, Inc.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 10
  • Tables & Figures: 624
  • Countries covered: 19
  • Pages: 460
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