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Asia Pacific Oil Insulated Switchgear Market Trends

  • Report ID: GMI10791
  • Published Date: Aug 2024
  • Report Format: PDF

Asia Pacific Oil Insulated Switchgear Market Trends

Rapid urbanization across Asia-Pacific countries, particularly in emerging economies like India and China, is leading to substantial investments in infrastructure development. As cities expand and industrial zones grow, there is a rising demand for reliable and efficient electrical systems, including oil insulated switchgear (OIS). These systems are favored for their ability to handle high voltage levels and their robustness in diverse environmental conditions. There is a significant push towards incorporating advanced technologies into oil insulated switchgear systems.
 

Innovations in insulation materials, such as improved oils and additives, are enhancing the performance and longevity of these switchgears. Additionally, the integration of smart grid technologies is improving the monitoring and control capabilities of OIS systems, leading to more efficient and reliable energy distribution. Many Asia-Pacific countries are focusing on modernizing their existing electrical infrastructure to meet the growing energy needs and improve system reliability. This includes replacing outdated switchgear with newer, more efficient oil insulated models. This trend is particularly prominent in countries with aging power infrastructure and high energy demands.
 

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

Asia Pacific market for oil insulated switchgear was worth over USD 4.8 billion in 2023 and will grow at a CAGR of 6.1% through 2032, owing to escalating urbanization and industrialization.

The low voltage segment will surpass USD 4.2 billion by 2032, fueled by the growth of smart cities and the rising demand for reliable, cost-effective low voltage switchgear in new industrial, commercial, and residential buildings.

China oil-insulated switchgear market will exceed USD 3 billion by 2032, due to substantial investments by the Chinese government in modernizing the electrical grid, advances in switchgear technology, and incentives for improving grid reliability.

ABB, Eaton Corporation, Fuji Electric Co., Ltd., Hitachi Ltd., Hyundai Electric & Energy Systems Co., Ltd., Hubbel Incorporated, Lucy Group Ltd., Mitsubishi Electric Corporation, Meidensha Corporation., Orecco Electric, Powell Industries, Sensata Technologies Inc, Schneider Electric, Switchgear Company, Siemens, and Skema S.p.A.

Asia Pacific Oil Insulated Switchgear Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 16
  • Tables & Figures: 9
  • Countries covered: 6
  • Pages: 100
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