Claim your 30% discount on Global Market Reports with code ONLINE30. Limited time only.

What Is the Forecast for the Air Insulated Switchgear Market from 2024 to 2025?

The market size of air insulated switchgear has significantly increased in the past few years. It is predicted to escalate from $7.99 billion in 2024 to $8.6 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.6%. This historic period growth can be ascribed to the development of smart grid networks, surging peak load demand, broadening of micro-grid networks, an uptick in global electricity usage, and the surge in industrial activities.

What Is the Projected Market Size of the Air Insulated Switchgear Market?

Anticipated to witness robust expansion in the forthcoming years, the air insulated switchgear market is projected to surge to $11.45 billion by 2029, reflecting a compound annual growth rate (CAGR) of 7.4%. This anticipated expansion during the forecast period is largely attributable to multiple variables such as the surge in urbanization, expansion in the marine sector, the rise in power utility investment, the broadening of renewable energy, and escalated demand for infrastructure projects. Prominent trends projected to be noticeable during the forecast period encompass progress in smart grid infrastructure, rapid development in intelligent and digital switchgear, energy storage systems, evolution of hybrid switchgear systems, the acceptance of smart grid technologies, compact and modular design patterns, and the overhaul and upgrade of existing systems.

Download The Free Sample Report Here:

https://www.thebusinessresearchcompany.com/sample.aspx?id=19280&type=smp

Who are the Major Competitors in the Air Insulated Switchgear Market Outlook?

Major companies operating in the air insulated switchgear market are Siemens AG, TEPCO Group, Mitsubishi Electric Corporation, Schneider Electric SE, GE Vernova Inc., ABB Ltd, Larsen & Toubro Limited, Toshiba Corporation, Eaton Corporation, WEG S.A., CHINT Global, Alfanar Group, Hyosung Heavy Industries Corporation, Meidensha Corporation, Nissin Electric Co. Ltd, Ormazabal GmbH, ZPUE S.A., C&S Electric Ltd, Powell Industries Inc., Lucy Electric UK Ltd, Hyundai Electric Co.Ltd., EFACEC Power Solutions SGPS S.A., Medelec Switchgear Ltd., Ghorit Electrical Co. Ltd, TGOOD Global Ltd., Orecco Electric, Wenzhou Unisun Electric Co Ltd

What Is Fueling Growth in the Air Insulated Switchgear Market?

The air-insulated switchgear market is poised for expansion driven by the escalating need for electricity. Reasons behind the rising electricity demand include population expansion, urbanization, and the growing utilization of electric vehicles and renewable energy. Air-insulated switchgear plays a critical role in electricity management by effectively controlling and safeguarding electrical equipment, facilitating efficient power distribution, and reducing electrical faults. For instance, the International Energy Agency (IEA), an independent intergovernmental organization based in France, revealed in July 2024 that global electricity demand is projected to escalate from 2.5% in 2023 to nearly 4% in 2024. Hence, the amplifying demand for electricity is fuelling the growth of the air-insulated switchgear market.

Request For A Customized Report:

https://www.thebusinessresearchcompany.com/customise?id=19280&type=smp

Which Air Insulated Switchgear Market Segments Are Growing the Fastest?

The air insulated switchgearmarket covered in this report is segmented –

1) By Type: Metal-Enclosed And Spaced Switchgear, Metal-Enclosed Armored Switchgear, Metal-Enclosed Box-Type Switchgear

2) By Voltage Level: Low Voltage, Medium Voltage, High Voltage

3) By Installation: Outdoor Installation, Indoor Installation

4) By Application: Transmission And Distribution, Manufacturing And Processing, Infrastructure And Transportation, Other Applications

5) By End-Use: Commercial, Residential, Utility, Other End-Uses

Subsegments:

1) By Metal-Enclosed and Spaced Switchgear: Compact Metal-Enclosed Switchgear, Modular Metal-Enclosed Switchgear, High Voltage Metal-Enclosed Switchgear, Medium Voltage Metal-Enclosed Switchgear

2) By Metal-Enclosed Armored Switchgear: Fully Armored Switchgear, Partially Armored Switchgear, Indoor Metal-Enclosed Armored Switchgear, Outdoor Metal-Enclosed Armored Switchgear

3) By Metal-Enclosed Box-Type Switchgear: Box-Type Switchgear for Distribution Systems, Box-Type Switchgear for Substation Applications, Outdoor Metal-Enclosed Box-Type Switchgear, Indoor Metal-Enclosed Box-Type Switchgear

What are the Emerging Market Trends Driving the Growth of the Air Insulated Switchgear Industry?

Leading businesses in the air-insulated switchgear market are focusing on the creation of sophisticated air-insulated (AIS) medium-voltage (MV) switchgear with the goal of promoting efficiency, augmenting safety and catering to the increasing need for dependable power distribution systems. The AIS medium-voltage switchgear is an electrified unit used in power systems to control and secure circuits, utilizing air insulation to isolate live components from the earthed ones. For example, ABB Ltd., a power, heavy electric equipment, and automation technology firm based in Switzerland, unveiled the UniGear ZS1 in September 2023. This newly introduced air-insulated medium-voltage (MV) switchgear technology emphasizes sustainability and efficiency, tackling the urgent issues confronting industries like oil and gas, utilities, and skyscrapers. The 500-mm panel version is the most space-efficient in its class, ideal for environments where space is at a premium, optimizing space usage and boosting energy distribution efficiency.

Access The Full Report Here:

https://www.thebusinessresearchcompany.com/report/air-insulated-switchgear-global-market-report

Which Countries Are Leading the Air Insulated Switchgear Market?

Asia-Pacific was the largest region in the air-insulated switchgear market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the air insulated switchgear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase The Full Report Today:

https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=19280

This Report Delivers Insight On:

1. How big is the air insulated switchgear market, and how is it changing globally?

2. Who are the major companies in the air insulated switchgear market, and how are they performing?

3. What are the key opportunities and risks in the air insulated switchgear market right now?

4. Which products or customer segments are growing the most in the air insulated switchgear market?

5. What factors are helping or slowing down the growth of the air insulated switchgear market?

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Get in touch with us:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 310-496-7795

Europe +44 7882 955267

Asia & Others +44 7882 955267 & +91 8897263534

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model