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Gas-Insulated AC Switchgear Market Trends

Report ID: GMI7958
Published Date: Jan 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

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.

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.

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.

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.