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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
Why is the demand for low voltage gas-insulated AC switchgears growing?
Low voltage gas-insulated AC switchgear market size exceeded USD 11.1 billion in 2023 and is estimated to reach over USD 18 billion by 2032, driven by the rising demand for energy along with positive consumer inclinations toward sustainable electricity networks.
What is the size of the gas-insulated AC switchgear market?
The market valuation of gas-insulated AC switchgear was surpassed USD 580 million in 2023 and is set to expand at 5.9% CAGR from 2024 to 2032, driven by the surging demand for efficient transmission and distribution (T&D) control systems.
Who are the major players engaged in the gas-insulated AC switchgear industry?
Some of the top gas-insulated AC switchgear companies include 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, and Toshiba International Corporation.
How big is the Europe gas-insulated AC switchgear market?
Europe gas-insulated AC switchgear industry is poised to generate USD 4.5 billion by 2032, attributed to the ongoing initiatives for modernizing the power grid, higher development and research of smart grids, and rapid advancements in technologies in the region.