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Utility Air Insulated Power Distribution Component Market Size

Report ID: GMI11537
Published Date: Sep 2024
Report Format: PDF

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Utility Air Insulated Power Distribution Component Market Size

The global utility air insulated power distribution component market size was valued at USD 6.6 billion in 2023 and is projected to grow at a CAGR of 7.1% from 2024 to 2032. Aging power infrastructure and increasing electricity demand are the major market driving factors. Many utilities are focusing on upgrading aging power grids and distribution networks where air-insulated switchgear (AIS) systems are preferred for their cost-effectiveness. The growing global population, urbanization, and increased reliance on electricity-intensive industries have heightened electricity demand. This has led utilities to expand and upgrade distribution networks, fuelling the demand for air-insulated components.

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Key companies in the market are emphasizing product innovations, particularly in digitalization and smart grid integration, to fulfil customer energy requirements. For instance, in October 2023, Delixi launched a new range of air-insulated switchgear, designed to enhance power distribution efficiency and safety. Additionally, the industry is experiencing increased adoption of the power distribution components, driven by more stringent safety and reliability regulations.

Utility Air Insulated Power Distribution Component Market Report Attributes
Report Attribute	Details
Base Year:	2023
Utility Air Insulated Power Distribution Component Market Size in 2023:	USD 6.6 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	7.1%
2032 Value Projection:	USD 12.5 Billion
Historical Data for:	2021 - 2023
No. of Pages:	120
Tables, Charts & Figures:	15
Segments covered:	Product, Configuration, Voltage Rating, & Region
Growth Drivers:	Increasing demand for electricity Renewable energy integration Smart grid initiatives
Pitfalls & Challenges:	Supply chain disruptions

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Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of utility air insulated power distribution component reached USD 6.6 billion in 2023 and will further proliferate with 7.1% CAGR from 2024 to 2032, owing to the aging power infrastructure and increasing electricity demand.

The switchgear segment is expected to surpass USD 5 billion by 2032, as they help in managing voltage levels and reducing power losses.

U.S. market will surpass USD 1.1 billion by 2032, due to the rising technological advancements in power distribution components.

ABB, ALSTOM, CG Power & Industrial Solutions Ltd., Eaton, GE Grid Solutions, G&W Electric, Hitachi Energy, Lucy Group Ltd., L&T Electrical & Automation, Meiden Europe, and Ormazabal.