Home > Energy & Power > Electrical Equipment > Switchgears > Air Insulated Switchgear Market

Air Insulated Switchgear Market Trends

Report ID: GMI5437
Published Date: Nov 2024
Report Format: PDF

Download Free Sample

Air Insulated Switchgear Market Trends

The air insulated switchgear industry is witnessing notable trends including a shift toward smart grid integration and digitalization. There is also a growing demand for eco-friendly switchgear, driven by stricter environmental regulations and the need to reduce carbon footprints. For instance, in April 2024, Biden-Harris administration announced key actions to enhance America's electric grid, committing USD 10 billion to support clean energy projects. Additionally, compact and modular designs are gaining popularity, allowing easier installation and scalability in urban and industrial applications, further driving market expansion.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The global market for air insulated switchgear was reached USD 9.1 billion in 2023 and is estimated to grow at a CAGR of over 8.1% from 2024 to 2032, due to the increasing demand for reliable and safe power distribution across various sectors.

The medium voltage insulated switchgear market is projected to exceed USD 10 billion by 2032, driven by the need for dependable power distribution systems and the trend toward smart grids and digital solutions.

The commercial and industrial application segment is projected to grow at a CAGR of over 8% by 2032, driven by increasing focus on renewable energy projects and smart grid initiatives.

The U.S. air insulated switchgear market is projected to exceed USD 2.5 billion by 2032, propelled by investments in infrastructure modernization and the transition to renewable energy sources.

Major key players include ABB, Alfanar Group, Beijing Sojo Electric Company, Chint Group, Eaton, General Electric, Hitachi Energy, Lucy Group, Mitsubishi Heavy Industries, RITTER Starkstromtechnik, S&C Electric Company, Schneider Electric, Shanghai Delixi Group, Siemens, and Toshiba Corporation.