Air Insulated Power Distribution Component Market - By Product (Switchgear, Switchboard, Distribution Panel, Motor Control Panels), By Configuration (Fixed Mounting, Plug-in, Withdrawable), By Voltage Rating, By Application, Growth Forecast 2024 – 2032

Air Insulated Power Distribution Component Market Size

Air Insulated Power Distribution Component Market size was valued at USD 17.6 billion in 2023 and will further proliferate with a CAGR of 7.7% 2024 to 2032. Lack of effective electric infrastructure across developing economies along with an inclination toward the enhancement of existing networks across developed economies has instituted a favourable business scenario.
 

Key players in the market are focusing on product innovations, such as digitalization and smart grid integration, to enhance performance and meet evolving customer needs. For instance, in October 2023, Delixi unveiled its latest air-insulated switchgear product line designed to enhance power distribution efficiency and safety. Additionally, stringent regulatory standards for safety and reliability are prompting the adoption of advanced air-insulated components.
 

Air Insulated Power Distribution Component Market Trends

Growing emphasis on smart grid technologies and renewable energy integration will augment the deployment of the product over the forecast timeline. Additionally, rising demand for reliable and efficient power distribution drives adoption of advanced air insulated switchgear and components. Key industry collaborations further strengthen market positions and meet growing need for advanced power distribution solutions.
 

For instance, in April 2024, Empower Semiconductor signed a representation and distribution agreement with Dimac Red Spa, a European sales and engineering organization, which aims to expand Empower's presence in European market and enhance accessibility to its IVR and ECAP products. Advancing product portfolios coupled with the leading industry participants undertaking mergers & acquisitions as a key strategic implication will drive the industry growth.
 

Air Insulated Power Distribution Component Market Analysis

The market is categorized into switchboard, distribution panel, motor control panels, and other component based on product. Switchgear holds the largest market share and is expected to rise with a valuation of over USD 14 billion by 2032, due to its pivotal role in controlling, protecting, and isolating electrical circuits in power distribution networks. These components ensure safe and efficient electricity transmission by effectively managing voltage levels and minimizing power losses. Moreover, increasing demand for reliable and uninterrupted power supply, coupled with modernization of aging infrastructure, drives adoption of advanced switchgear solutions.
 

Based on application, the air insulated power distribution component market is divided into residentia;, commercial, industrial, & utility. The commercial industry forecasted to grow at a rate of over CAGR of 8% by 2032, poised by the use of electrical power distribution component systems in various facilities such as office buildings, shopping malls, and hospitals. These sectors require efficient and reliable power distribution components to support their operations, ensuring uninterrupted electricity supply for lighting, HVAC systems, and other critical equipment.

The Asia Pacific air insulated power distribution component market is estimated to surpass over USD 15 billion by 2032, strengthened by rapid industrialization, urbanization, and infrastructural developments across emerging economies in region. As countries prioritize sustainable energy infrastructure and energy efficiency, adoption of air insulated components is accelerated by regulatory compliance and need to serve a large, growing population.
 

For instance, in April 2024, Barito Wind Energy, announced acquisition of PT UPC Sidrap Bayu Energi highlighting region's commitment to advancing renewable energy infrastructure and sustainable development. With continued economic expansion and focus on reliable power distribution, region is expected to maintain its significant market share in global landscape.
 

Air Insulated Power Distribution Component Market Share

Major players in market include prominent manufacturers of power distribution equipment such as ABB, Siemens, Schneider Electric, Eaton Corporation, and General Electric, among others. Their market dominance could stem from factors such as brand reputation, technological advancements, reliability, and customer satisfaction, positioning them as preferred suppliers in the industry.
 

Air Insulated Power Distribution Component Companies

Some of the key market players operating across the air insulated power distribution component industry are:

• ABB
• ALSTOM SA
• CG Power & Industrial Solutions Ltd.
• Eaton
• GE Grid Solutions
• G&W Electric
• Hitachi Energy
• Lucy Group Ltd.
• L&T Electrical & Automation
• Meiden Europe GmbH
• Ormazabal
• Powell Industries
• Schneider Electric
• Siemens
• Toshiba Energy Systems & Solutions Corporation
   

Air Insulated Power Distribution Component Industry News

• In September 2023, ABB recently unveiled its latest innovation, the 500 mm panel version of UniGear ZS1, an air-insulated medium-voltage switchgear technology, at ADIPEC 2023. This new product launch reflects ABB's commitment to providing smart, safe, reliable, and sustainable solutions for energy management and asset health management.
   
• In January 2023, Eaton partnered with AMP to upgrade the power distribution system for the Xeni Gwet'in First Nations. AMP Energy collaborated with the community & federal funding sources for clean energy projects & indigenous communities to finance this project. The two companies are developing a microgrid power system designed to significantly reduce the community’s reliance on diesel generators.
   

Air Insulated Power Distribution Component market research report includes an in–depth coverage of the industry with estimates & forecast in terms of volume in ‘000units and revenue in USD Billion from 2019 to 2032, for the following segments:

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Market, By Product (‘000 Units, USD Billion)

• Switchgear
• Switchboard
• Distribution Panel
• Motor Control Panels

Market, By Configuration (‘000 Units, USD Billion)

• Fixed Mounting
• Plug-in
• Withdrawable

Market, By Voltage Rating (‘000 Units, USD Billion)

• ≤ 11 kV
• > 11 kV to ≤ 33 kV
• > 33 kV to ≤ 66 kV
• > 66 kV to ≤ 132 kV

Market, By Application (‘000 Units, USD Billion)

• Residential
• Commercial
• Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Spain
  • Italy
  • UK
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Nigeria
• Latin America
  • Brazil
  • Argentina
  • Peru