Commercial Air Insulated Power Distribution Component Market Size - By Product (Switchgear, Switchboard, Distribution Panel, Motor Control Panels), By Configuration, By Voltage Rating & Growth Forecast, 2024 – 2032

Commercial Air Insulated Power Distribution Component Market Size

Commercial Air Insulated Power Distribution Component Market was valued at USD 6 billion in 2023 and is set to grow at over CAGR of 8.2% CAGR between 2024 and 2032. The disparity in electric infrastructure between developing and developed economies has created a promising business landscape.
 

 Major market players are prioritizing product innovations, like digitalization and smart grid integration, to cater to evolving customer demands. For instance, in October 2023, Delixi introduced a new line of air-insulated switchgear, aimed at boosting power distribution efficiency and safety. Furthermore, the industry is witnessing a surge in the adoption of advanced air-insulated power distribution components, driven by increasingly stringent safety and reliability regulations.
 

Commercial Air Insulated Power Distribution Component Market Trends

The product's deployment is set to surge over the forecast period driven by a heightened focus on smart grid technologies and the integration of renewable energy. The increasing demand for dependable power distribution is propelling the adoption of advanced commercial air insulated switchgear and its components. Notably, strategic collaborations within the industry are not only bolstering market positions but also addressing the escalating need for sophisticated power distribution solutions.
 

Commercial Air Insulated Power Distribution Component Market Analysis

Based on product, the switchgear segment will cross USD 4.5 billion by 2032. These components play a vital role in managing voltage levels and reducing power losses, ensuring safe and efficient electricity transmission. The growing need for a stable power supply, alongside the upgrading of aging electrical systems is fueling the demand for advanced switchgear solutions.
 

Based on voltage rating, the ≤ 11 kV industry forecasted to grow at a CAGR of over 8.5% through 2032, poised by product deployment across office buildings, shopping malls, and hospitals heavily as they rely on electrical power distribution components. These components are vital, guaranteeing a seamless electricity supply for lighting, HVAC systems, and other crucial operations.
 

Asia Pacific commercial air insulated power distribution component market revenue to surpass USD 5 billion by 2032. This growth is underpinned by the region's swift industrialization, urbanization, and infrastructural advancements, particularly in its emerging economies. Driven by a dual mandate of enhancing energy sustainability and efficiency, nations are increasingly turning to air insulated components. This shift is further catalyzed by stringent regulations and the imperative to cater to a burgeoning populace.
 

Commercial Air Insulated Power Distribution Component Market Share

Key players in the power distribution equipment market comprise giants like ABB, Siemens, Schneider Electric, Eaton Corporation, and General Electric. These companies lead the market, buoyed by their strong brand reputation, cutting-edge technology, reliability, and high customer satisfaction, solidifying their status as top industry suppliers.
 

Commercial Air Insulated Power Distribution Component Market Companies

Major key players operating across the commercial 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
   

Commercial Air Insulated Power Distribution Component Industry News

• In September 2023, ABB at ADIPEC 2023, introduced the 500 mm panel variant of UniGear ZS1, an air-insulated medium-voltage switchgear. This launch underscores ABB's dedication to delivering intelligent, secure, and eco-conscious solutions for energy and asset health management.
   
• In January 2023, Eaton and AMP partnered to enhance the power distribution system of the Xeni Gwet'in First Nations. The partnership will include federal funding sources and the local community, focusing on clean energy initiatives for indigenous groups. Together, the company will create a microgrid power system, aimed at markedly diminishing the community's dependence on diesel generators.
   

This commercial air insulated power distribution component market research report includes an in–depth coverage of the industry with estimates & forecast in terms of volume in ‘000 units and revenue in USD Billion from 2021 to 2032, for the following segments:

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Market, By Product

• Switchgear
• Switchboard
• Distribution Panel
• Motor Control Panels

Market, By Configuration

• Fixed Mounting
• Plug-in
• Withdrawable

Market, By Voltage Rating

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

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
• Latin America
  • Brazil
  • Argentina
  • Peru