PUBLISHER: The Business Research Company | PRODUCT CODE: 1619404
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619404
Air-insulated switchgear (AIS) is a type of electrical switchgear that uses air as its primary insulation medium to safeguard and isolate electrical equipment. Switchgear encompasses electrical disconnect switches, fuses, or circuit breakers used to manage, protect, and isolate electrical systems. AIS ensures reliable protection and control by allowing safe isolation and interruption of electrical power, especially during maintenance, faults, or emergencies.
The main types of air-insulated switchgear include metal-enclosed and spaced switchgear, metal-enclosed armored switchgear, and metal-enclosed box-type switchgear. Metal-enclosed and spaced switchgear is designed for the protection and control of electrical power systems. It accommodates various voltage levels-low, medium, and high-suitable for different installations, both outdoor and indoor. AIS is used in diverse applications, including transmission and distribution, manufacturing and processing, infrastructure and transportation, and serves various end-users such as commercial, residential, and utility sectors.
The air-insulated switchgear market research report is one of a series of new reports from The Business Research Company that provides air-insulated switchgear market statistics, including air-insulated switchgear industry global market size, regional shares, competitors with a air-insulated switchgear market share, detailed air-insulated switchgear market segments, market trends and opportunities, and any further data you may need to thrive in the air-insulated switchgear industry. This air-insulated switchgear market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The air-insulated switchgear market size has grown strongly in recent years. It will grow from $7.44 billion in 2023 to $7.99 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth during the historic period can be attributed to the expansion of smart grid networks, increased peak load demand, the development of micro-grid networks, rising global electricity consumption, and growth in industrial activities.
The air-insulated switchgear market size is expected to see strong growth in the next few years. It will grow to $10.67 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The anticipated growth during the forecast period can be attributed to rising urbanization, expansion in the marine sector, increased investment in power utilities, growth in renewable energy, and higher demand for infrastructure projects. Key trends expected in this period include the development of smart grids, advancements in infrastructure, the emergence of smart and digital switchgear, the integration of energy storage systems, the development of hybrid switchgear systems, adoption of smart grid technologies, compact and modular designs, and the retrofitting and upgrading of existing systems.
The growing demand for electricity is expected to drive the expansion of the air-insulated switchgear market in the future. This rising demand for electricity is due to factors such as population growth, urbanization, and increased adoption of electric vehicles and renewable energy sources. Air-insulated switchgear plays a crucial role in electricity management by safely controlling and protecting electrical equipment, ensuring efficient power distribution, and minimizing electrical faults. For example, the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, projected in July 2024 that global electricity demand will increase from 2.5% in 2023 to approximately 4% in 2024. This growing demand is fueling the development of the air-insulated switchgear market.
Leading companies in the air-insulated switchgear market are focusing on developing advanced air-insulated (AIS) medium-voltage (MV) switchgear to boost efficiency, enhance safety, and meet the rising need for reliable power distribution systems. AIS medium-voltage switchgear is used in power systems to manage and protect circuits, utilizing air as insulation to separate live components from grounded ones. For instance, in September 2023, ABB Ltd., a Switzerland-based company specializing in power and automation technologies, introduced the UniGear ZS1. This new air-insulated medium-voltage switchgear is designed with a focus on sustainability and efficiency, addressing challenges faced by industries such as oil and gas, utilities, and high-rise buildings. The UniGear ZS1 features a 500-mm panel version, the narrowest in its category, making it ideal for space-constrained environments. This design not only optimizes space but also improves energy distribution efficiency.
In March 2022, Nuventura, a Germany-based company specializing in switchgear (GIS) technology, formed a partnership with Aktif Elektroteknik. This collaboration aims to produce innovative, SF6-free primary gas-insulated switchgear (GIS) in Turkey using Nuventura's dry air technology. The partnership focuses on creating high-quality, environmentally friendly GIS products, with Nuventura providing technology and engineering support and Aktif Elektroteknik handling manufacturing and after-sales services across Europe, the Middle East, and Africa. Aktif Elektroteknik is based in Turkey and specializes in air-insulated metal-clad medium-voltage (MV) switchgear.
Major companies operating in the air insulated switchgear market are Siemens AG, TEPCO Group, Mitsubishi Electric Corporation, Schneider Electric SE, GE Vernova Inc., ABB Ltd, Larsen & Toubro Limited, Toshiba Corporation, Eaton Corporation, WEG S.A., CHINT Global, Alfanar Group, Hyosung Heavy Industries Corporation, Meidensha Corporation, Nissin Electric Co. Ltd, Ormazabal GmbH, ZPUE S.A., C&S Electric Ltd, Powell Industries Inc., Lucy Electric UK Ltd, Hyundai Electric Co.Ltd., EFACEC Power Solutions SGPS S.A., Medelec Switchgear Ltd., Ghorit Electrical Co. Ltd, TGOOD Global Ltd., Orecco Electric, Wenzhou Unisun Electric Co Ltd
Asia-Pacific was the largest region in the air-insulated switchgear market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the air insulated switchgear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the air insulated switchgear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The air-insulated switchgear market consists of sales of single busbar switchgear, ring main unit (RMU), unitized switchgear, metal-clad switchgear, non-metal-clad switchgear, contactors, switches and disconnectors, fuses, circuit breakers, current transformers (CTs), voltage transformers (VTs), earthing switches, busbars, insulators, relays, control panels, and clamps. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Air Insulated Switchgear Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on air insulated switchgear market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for air insulated switchgear ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The air insulated switchgear market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.