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Asia Pacific Vacuum Insulated Switchgear Market Trends

Report ID: GMI7204
Published Date: Oct 2023
Report Format: PDF

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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.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of vacuum insulated switchgear in APAC was worth USD 30 billion in 2022 and is anticipated to reach USD 57 billion by 2032.

The low voltage segment valuation crossed USD 18 billion in 2022 and is anticipated to record over 6.5% CAGR from 2023 to 2032, owing to the region's increasing emphasis on energy efficiency and sustainability.

China vacuum insulated switchgear market was valued at USD 10 billion in 2022 and is anticipated to surpass USD 17 billion by 2032, due to the country’s rapidly expanding power infrastructure, driven by urbanization, industrialization, and the increasing demand for electricity.

The market size of vacuum insulated switchgear in APAC was worth USD 32.9 billion in 2023 and is anticipated to reach USD 57.6 billion by 2032.