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Industrial Oil Insulated Switchgear Market Trends

Report ID: GMI11900
Published Date: Oct 2024
Report Format: PDF

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Industrial Oil Insulated Switchgear Market Trends

One of the significant trends in the oil-insulated switchgear industry is the growing demand for eco-friendly and sustainable alternatives. Traditional OIS units use mineral oil as an insulating medium, but there is increasing pressure to transition towards alternative, more environmentally friendly oils, such as biodegradable ester oils. These eco-friendly solutions reduce the environmental impact in case of leaks or accidents, which is increasingly important as industries face stringent environmental regulations. The push for sustainability is aligning with broader global efforts to reduce carbon footprints and improve environmental compliance in power infrastructure.

Technological advancements are transforming oil-insulated switchgears. Modern OIS units are being equipped with enhanced protection and monitoring systems, including digital sensors, smart grid integration, and automated fault detection features. These innovations enable real-time monitoring of critical parameters, such as temperature and pressure, allowing operators to address potential issues before they escalate into more serious problems. With the increasing adoption of Industry 4.0, oil-insulated switchgear systems are becoming smarter, more efficient, and more integrated into advanced industrial control systems.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The global market for industrial oil-insulated switchgear was reached USD 1.1 billion in 2023 and is projected to grow at a 5.9% CAGR from 2024 to 2032, driven by increasing demand for reliable and efficient power distribution in industrial sectors.

The low-voltage segment is projected to surpass USD 900 million by 2032, as industries become more electrified, particularly in manufacturing, mining, and process industries.

The AC segment is anticipated to witness a CAGR of more than 5.6% through 2032, due to the widespread use of AC systems in industrial and commercial applications for efficient power distribution.

The U.S. market for industrial oil-insulated switchgear is likely to exceed USD 165 million by 2032, driven by the ongoing expansion and modernization of industrial infrastructure.

Major players in the industry include ABB, Eaton, Fuji Electric, Hitachi, Hubbell, Hyundai Electric and Energy Systems, Lucy Group, Meidensha, Mitsubishi Electric, Orecco Electric, Powell Industries, Schneider Electric, Sensata Technologies, Siemens, Skema, and Switchgear Company.