Home > Energy & Power > Electrical Equipment > Substation > AC Industrial Switchgear Market

AC Industrial Switchgear Market Trends

  • Report ID: GMI12023
  • Published Date: Oct 2024
  • Report Format: PDF

AC Industrial Switchgear Market Trends

There is a growing integration of digital technologies in AC switchgear to enable real-time monitoring, diagnostics, and predictive maintenance. Smart switchgear with IoT connectivity and data analytics capabilities enhances operational efficiency by identifying potential issues before they cause failures, minimizing downtime and optimizing maintenance schedules. Such switchgear supports remote monitoring, which is increasingly valuable in large industrial facilities. The need to optimize floor space in industrial setups has driven a shift toward compact, modular switchgear solutions.
 

Modular designs allow for flexible installation, faster assembly, and easy customization, catering to specific power needs while reducing installation costs. These systems are also easier to upgrade, aligning with industries' evolving power requirements without the need for large-scale replacements.
 

As industries integrate renewable energy sources, particularly solar and wind, there is increasing demand for switchgear compatible with variable AC loads. Switchgear that can manage the fluctuations and intermittencies of renewable energy is becoming essential to support the stability of industrial power grids. This trend is particularly prominent in regions with aggressive renewable energy targets, driving innovation in AC switchgear for industrial use.
 

Manufacturers, with stringent safety and performance standards, are increasingly producing switchgear that meets rigorous regulations to ensure workplace safety. Innovations such as arc-resistant designs, improved insulation, and enhanced protection mechanisms are gaining popularity to prevent electrical faults and ensure compliance with global standards.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of AC industrial switchgear reached USD 25.3 billion in 2023 and is estimated to grow at a 7% CAGR from 2024 to 2032, driven by increasing industrialization and electrification.

The air insulation segment is projected to witness a 7.2% CAGR through 2032, owing to its environmental sustainability, cost-effectiveness, and safety advantages.

The U.S. market is anticipated to surpass USD 4.2 billion by 2032, led by the increasing demand for reliable power distribution systems and the modernization of industrial infrastructure.

The key players in the industry include ABB, Bharat Heavy Electricals, CG Power and Industrial Solutions, E + I Engineering, Eaton, Fuji Electric, General Electric, HD Hyundai Electric, Hitachi, Hyosung Heavy Industries.

AC Industrial Switchgear Market Scope

Buy Now


Premium Report Details

  • Base Year: 2023
  • Companies covered: 17
  • Tables & Figures: 20
  • Countries covered: 23
  • Pages: 100
 Download Free Sample