Asia Pacific Vacuum Insulated Switchgear Market Size - By Voltage (Low, Medium, High), By Current (AC, DC), By Application (Residential, Commercial & Industrial, Utility), & Forecast, 2024 - 2032

Asia Pacific Vacuum Insulated Switchgear Market Size

Asia Pacific Vacuum Insulated Switchgear Market was valued at USD 32.9 billion in 2023 and is anticipated to grow at over 6.3% from 2024 to 2032. The increasing demand for reliable and efficient electricity distribution systems, driven by urbanization and industrialization in the region, is fueling the adoption of advanced switchgear technologies. Stringent environmental regulations and a growing emphasis on reducing greenhouse gas emissions are pushing utilities and industries to switch from traditional gas-insulated switchgear to more eco-friendly vacuum insulated switchgear.

Additionally, advancements in renewable energy integration and smart grid infrastructure development are creating opportunities for the deployment of vacuum insulated switchgear. As per National Bureau of Statistics (NBS) of China, Renewables held a share of over 47% in country’s total generation capacity in 2022, which is further anticipated to grow owing to the changing regulatory environment pertaining to the renewable capacity additions.

COVID– 19 Impact

The Asia Pacific vacuum insulated switchgear market experienced initial disruptions due to the COVID-19 pandemic, primarily affecting supply chains and project delays. Travel restrictions and economic uncertainties also impacted investment decisions. However, the increased emphasis on reliable and sustainable energy infrastructure in the post-pandemic era, along with a growing need for enhanced power distribution systems, has driven the recovery of the VIS market. The emphasis on safety, reduced environmental impact, and the growing demand for compact and efficient switchgear designs further underscore the resilience and potential for growth in the Asia-Pacific VIS market.
 

Asia Pacific Vacuum Insulated Switchgear Market Trends

The Asia-Pacific market for vacuum insulated switchgear is witnessing significant trends. The increasing environmental awareness and stringent regulations have accelerated the adoption of VIS, as it eliminates the need for SF6 gas, reducing environmental impact and safety concerns. The rising investment in renewable energy sources, particularly in countries like China and India, is driving the integration of VIS in grid infrastructure to enhance grid stability and accommodate clean energy. Moreover, the shift toward smart grids and digitalization is creating a demand for VIS with advanced monitoring and control features, optimizing grid management.
 

Asia Pacific Vacuum Insulated Switchgear Market Analysis:

The low voltage vacuum insulated switchgear market exceeded USD 18 billion in 2022 and is anticipated to observe growth about 6.5% CAGR through 2032. This growth trajectory aligns with the region's increasing emphasis on energy efficiency and sustainability, driving the demand for LV-VIS solutions. LV-VIS systems, known for their superior efficiency, reduced energy losses, and diminished environmental impact compared to traditional switchgear, are gaining prominence across diverse applications. Moreover, LV-VIS's enhanced safety features and dependable performance make it particularly sought after in environments where safety and reliability are paramount.
 

The AC vacuum insulated switchgear market is expected to exhibit about 6% CAGR up to 2032, owing to the flourishing AC power distribution component industry in the region, attributed to its key product attributes. These include minimal economic losses, reduced heat generation, and the ability to efficiently and flexibly handle high-end voltage levels. Additionally, the simplicity of transformation, coupled with cost competitiveness, economic equipment expenditures, and streamlined installation and manufacturing processes, fuels the demand for these components.
 

The VIS are utilized across residential, commercial & industrial and utility sectors. The Asia Pacific vacuum insulated switchgear (VIS) market has witnessed significant growth in recent years, driven primarily by its application in the utility sector. With the increasing demand for reliable and efficient electricity distribution and the need to upgrade aging infrastructure, VIS has become a preferred choice for medium and high-voltage applications. VIS technology offers advantages such as superior insulation performance, reduced maintenance requirements, and compact design, making it ideal for utility companies seeking to enhance grid reliability and minimize downtime.
 

China vacuum insulated switchgear market size crossed USD 10 billion in 2022 and is anticipated to reach USD 17 billion by 2032, country’s rapidly expanding power infrastructure, driven by urbanization, industrialization, and the increasing demand for electricity, which in turn has necessitated the adoption of advanced and reliable switchgear technologies. VIS, known for its superior insulation capabilities and compact design, has gained substantial traction in the country's utility and industrial sectors. The Chinese government's focus on upgrading and modernizing the power distribution network to enhance energy efficiency and reduce greenhouse gas emissions aligns with the advantages offered by VIS technology.
 

Asia Pacific Vacuum Insulated Switchgear Market Share

In the Asia Pacific vacuum insulated switchgear industry, Siemens commands the largest market share, solidifying its position as the preeminent player. Siemens' dominance in the region is attributed to its well-established reputation for delivering top-quality electrical solutions and unwavering commitment to technological innovation. Their comprehensive portfolio of vacuum insulated switchgear offerings has gained widespread adoption in the utility and industrial sectors, thanks to their reliability, efficiency, and compliance with global standards. Siemens' local expertise, strong customer relationships, and robust after-sales support further contribute to their market leadership. As a global leader in electrical engineering and automation, Siemens continues to invest in research and development, ensuring its continued prominence in the market.
 

The major contenders in the Asia Pacific vacuum insulated switchgear market include:

• Eaton
• Zhejiang Volcano Electrical Technology Co.,Ltd
• Shenheng Power Equipment Co., Ltd
• DOHO Electric
• Hitachi, Ltd.
• Siemens
• Bharat Heavy Electricals Limited
• Mitsubishi Electric Power Products, Inc.
• Rotary Switchgear & Testing Pte. Ltd
• S&C Electric Company
   

Asia Pacific Vacuum Insulated Switchgear Industry News:

• In May 2020, Siemens broadened its range of eco-friendly gas-insulated switchgear (GIS) products by introducing the NXPLUS C 24 MV switchgear, designed for voltage levels of up to 24 kV and completely free from fluorine gases. The incorporation of clean air and vacuum switching technology eradicates the need for any gas mixtures containing fluorine, thereby enabling energy distribution with no impact on the climate. Moreover, this switchgear is equipped with digital capabilities, ensuring dependable, secure, and cost-effective operations.
   

This Asia Pacific vacuum insulated switchgear market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘000 Units and “USD Million” from 2019 to 2032, for the following segments:

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By Voltage

• Low
• Medium
• High

By Current

• AC
• DC

By Application

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following countries:

• China
• Australia
• India
• Japan
• South Korea