Gas-Insulated AC Switchgear Market Size

Gas-Insulated AC Switchgear Market was valued at USD 20.9 billion in 2023 and is anticipated to register over 7.9% CAGR between 2024 and 2032, owing to the increasing need for efficient transmission and distribution (T&D) control systems. The rising demand for the refurbishment of existing electrical infrastructure, coupled with growing investments in grid infrastructure, will positively contribute to the industry's outlook. The lack of reliable electric networks in developing nations, combined with a shift towards developing existing infrastructure in developed countries, creates a favorable business environment.

The cost-effectiveness, operational safety, and product compactness are critical parameters that will enhance the overall industry landscape. The increasing adoption of distributed generation and smart grid networks has compelled installers to embrace efficient power supply units. Furthermore, the growing prominence of heavy-duty industrial machinery, particularly in large-scale motor control operations, will drive the demand for circuit protection equipment. The substantial migration to suburban areas, fueled by a growing reliance on manufactured products, has heightened the focus on expanding residential, commercial, and industrial electricity networks. Additionally, the expansion of electric transportation networks, process units, and Special Economic Zones (SEZs) in developing economies has spurred the demand for switchgears globally.

COVID-19 Impact

The gas-insulated AC switchgear industry witnessed a decline in the installation and deployment of switchgear in the power sector due to the global repercussions of the pandemic. Despite this setback, the industry is rebounding and expanding as the power sector plays a crucial role as the essential backbone of the economy. Ongoing advancements in renewable power generation and the refurbishment of energy equipment further contribute to the positive trajectory of the industry post-COVID-19.

Gas-Insulated AC Switchgear Market Trends

The industry's momentum has further been fueled by supportive government initiatives aimed at deploying and expanding power grid infrastructure, especially in conjunction with developing stand-alone micro-grid projects in areas with limited access to electricity. The influx of advanced, flexible, and secure power distribution technologies has infused a sustainable business platform. Although, manufacturers and suppliers have consistently been streamlining their R&D investments to expand and enhance product portfolios, fresh investments from leading participants to incorporate a versatile technological platform has been a considerable breakthrough.

Gas-Insulated AC Switchgear Market Analysis

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The market value of low voltage gas-insulated AC switchgear has surpassed 11.1 billion USD in 2023 and is projected to reach over 18 billion USD by 2032. The industry has largely been inspired by various sets of regulatory mandates & guidelines for the standardization of products and the deployment & manufacturing trends around the globe. Grid-isolated zones are the prime focus points for several regulators & installers as these pose a significant potential for market expansion and business growth. Moreover, the rising demand for energy along with positive consumer inclinations toward sustainable electricity networks will propel the low voltage market growth.

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The market value of utility scale gas insulated AC switchgear was exceeded USD 11 billion in 2023, with an anticipated growth rate of over 7.1% till 2032. Utility-supported distribution grid networks have consistently been shaped by regulatory and government directives related to the deployment of electric infrastructure. Positive government regulations concerning rural electrification and the implementation of decentralized micro-grid networks in grid-isolated areas have fueled the demand for these products. Moreover, the incorporation of sustainable energy infrastructure, supported by financial allocations from local regulatory authorities and institutions such as the World Bank, IFC, and similar organizations in developing regions, will have a positive impact on the industry dynamics.

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Europe gas-insulated AC switchgear market size is predicted to reach USD 4.5 billion by 2032. The electricity distribution sector in Europe presents diverse opportunities, with variations in size, the number of operational areas, network characteristics, customer base, and ownership structures. The models employed to assess tariffs and revenues are designed to accommodate this diversity, facilitating effective comparisons. Continuing initiatives aimed at modernizing the power grid, such as grid energy storage, the development and research of smart grids, and advancements in technologies, are set to create a competitive landscape within the industry.

Gas-Insulated AC Switchgear Market Share

ABB holds a significant portion of the gas-insulated AC switchgear market, renowned for its extensive expertise in engineering and manufacturing various types of switchgear, including gas-insulated AC switchgear and DC switchgear. With a deep-seated history in the transmission and distribution sector, the company has a notable track record of providing switchgear solutions for a wide range of applications across commercial, industrial, and utility sectors.

Gas-Insulated AC Switchgear Market Companies

Some of the major key players operating across the gas-insulated AC switchgear industry are:

• ABB
• CG Power & Industrial Solutions Ltd.
• Chint Group
• Eaton Corporation
• Fuji Electric Co., Ltd.
• General Electric
• HD HYUNDAI ELECTRIC CO., LTD.
• Hitachi Energy Ltd.
• Hyosung Heavy Industries
• Lucy Group Ltd.
• Mitsubishi Electric Corporation
• Powell Industries
• Schneider Electric
• Siemens Energy
• Toshiba International Corporation
  

Gas-Insulated AC Switchgear Industry News:

• In April 2021, Siemens introduced the innovative 8DJH 24 switchgears, in conjunction with RMU for up to 24 kV, characterized by its complete absence of fluorinated gases. This medium-voltage (MV) switchgear employs clean air technology, utilizing a climate-neutral insulation medium composed entirely of natural components derived from the surrounding air. This technological breakthrough eliminates the use of Sulfur Hexafluoride (SF6) or any gas mixture containing fluorine gases as insulating mediums.
  

This gas-insulated AC switchgear market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in ‘000 Units and USD Million from 2019 to 2032, for the following segments:

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Market, By Voltage

• Low
• Medium
• High

Market, By Application

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Spain
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Oman
  • South Africa
  • Egypt
• Latin America
  • Brazil
  • Peru
  • Argentina