Air Insulated Switchgear Market Value By Voltage (Up To 36 KV, >36 KV), By Installation (Indoor, Outdoor), By End-User (Transmission & Distribution, Infrastructure & Transportation, Manufacturing & Processing), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), Industry Analysis, Share & Forecast, 2023 - 2032

Market Overview:

Air Insulated Switchgear Market worth exceeded USD 5.7 Billion in 2022 and is expected to showcase a CAGR of over 5.1% from 2023 to 2032. By the end of the forecast period, the market is anticipated to reach a valuation of around USD 9.2 Billion.

Air Insulated Switchgear (AIS) is a type of electrical power distribution equipment used for the transmission and distribution of electricity in a power system. As the name suggests, AIS uses air as the insulating medium to isolate the different components of the switchgear from each other. AIS typically consists of several components, including circuit breakers, disconnect switches, grounding switches, busbars, and current transformers, among others. These components are mounted on a steel frame, and the entire assembly is housed in a metal enclosure. The enclosure is designed to protect the equipment from environmental factors such as moisture, dust, and debris.

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Growing Factors: 

Air Insulated Switchgear Market has seen significant growth in recent years, with a number of key factors contributing to its expansion. One of the most important drivers of growth in the AIS market is the increasing demand for electricity across the world. As populations grow and economies develop, the need for reliable and efficient power distribution systems becomes more pressing. AIS is a cost-effective solution for many power distribution applications, particularly in regions where space is not a constraint and environmental factors are favorable. Another important factor driving growth in the AIS market is the rising demand for renewable energy sources such as wind and solar power. As more renewable energy projects come online, there is a need for efficient and reliable switchgear systems to connect them to the grid. AIS are often the preferred choice for this type of application due to its low cost and high reliability.

In addition, the increasing focus on energy efficiency and sustainability is also contributing to the growth of the AIS market. Governments and organizations around the world are implementing energy efficiency regulations and programs, which are driving demand for more efficient power distribution systems. AIS is a relatively low-cost and reliable solution that can help organizations achieve their energy efficiency goals.

COVID-19 Impact:

The industry faced notable disruptions due to the pandemic, presenting both challenges and opportunities. The impact of COVID-19 highlighted the need for better risk management, preparedness, and resilience. The manufacturers of electrical switchgear encountered considerable difficulties in their supply chain, particularly in the availability of basic metals such as copper, aluminum, and steel, as well as plastics, electronics, and transportation services. The pandemic, coupled with measures taken by governments and organizations to control the virus, resulted in a significant decline in manufacturing and industrial activities, which directly affected the switchgear market as it is primarily utilized in these sectors of the economy.

By Voltage Segment Analysis:

The air insulated switchgear market is divided into two segments based on voltage: Up To 36 kV and >36 kV. In 2021, the market was primarily led by low voltage switching devices, or switchgear up to 36kV due to the significant expansion of transmission and distribution infrastructure. Developed countries are adopting smart grid technologies to facilitate load control, electricity supply, and fault monitoring. As air insulated switchgear equipment provides numerous advantages in the sub-transmission and distribution industry, the low-voltage switchgear category continues to dominate the market. The medium voltage switchgear category, or above 36 kV, exhibited the highest growth rate in the global market in 2021 due to its various applications in power transmission, integration of renewable energy sources into the grid, and industrial uses. Consequently, the increasing demand for air insulated switchgear is being fueled by the expanding transmission and distribution networks and the growing investments in renewable energy.

Regional Overview:

North America is a significant market for AIS, driven by the growing demand for renewable energy and the increasing need to upgrade aging power infrastructure. The region has several large-scale renewable energy projects, which require efficient and reliable switchgear systems, contributing to the growth of the AIS market. In addition, the aging power infrastructure in the region is in need of upgrade, and AIS is a cost-effective solution for these projects.

The Asia Pacific region is expected to exhibit significant growth in the air insulated switchgear market, driven by the increasing demand for electricity in the region's rapidly developing economies. Several countries in the region, such as China and India, have ambitious plans to expand their power infrastructure, which will contribute to the growth of the AIS market.

Key Development:

• In August 2021, Schneider Electric has introduced GenieEvo Connected, a comprehensive, switchgear range with unrivalled connectivity for asset health monitoring. GenieEvo connected, establishing a new standard for primary air-insulated switchgear that is completely cloud-based for efficient maintenance.

Top companies includes in the global air insulated switchgear market:

• ABB Ltd.
• Schneider Electric 
• Crompton Greaves Ltd
• Eaton Corporation 
• Lucy Electric 
• Siemens AG 
• General Electric Company 
• Larsen & Toubro Limited 
• Toshiba Corporation 
• TEPCO Group
• Ormazabal
• C&S Electric 
• Alfanar Group
• Others

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In-depth analysis of air insulated switchgear market along with industry coverage and forecasting for the following segments:

Market Value, By Voltage

• Up To 36 K V
• >36 K V

Market Value, By Installation

• Indoor
• Outdoor

Market Value, By End-User

• Transmission & Distribution
• Infrastructure & Transportation
• Manufacturing & Processing

Market Value, By Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America