Wilmington, Delaware, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Air Insulated Switchgear Market by Voltage (Low, Medium and High), and Application (Power Distribution Networks, Industrial Plants, Infrastructure Projects, Data Centers, Renewable Energy Integration and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the air insulated switchgear market was valued at $66.8 billion in 2023, and is estimated to reach $100.9 billion by 2033, growing at a CAGR of 4.2% from 2024 to 2033.
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Prime determinants of growth
The global air insulated switchgear market is driven by rising regulatory and environmental concerns. Regulatory and environmental considerations are increasingly influencing the switchgear market. Governments and regulatory bodies worldwide are implementing stricter standards to ensure the safety, efficiency, and environmental impact of electrical equipment. Air insulated switchgear (AIS), with its use of air as an insulating medium, aligns well with these regulatory trends as it avoids the use of sulfur hexafluoride (SF6), a potent greenhouse gas commonly used in GIS. Furthermore, the growing emphasis on sustainability and reducing carbon footprints drives utilities and industries to opt for AIS solutions. Regulatory incentives and mandates aimed at promoting green technologies and reducing the environmental impact of power systems further support the adoption of AIS. Additionally, the development of AIS systems that comply with international standards such as IEC and ANSI ensure their acceptance in various markets, boosting their global adoption. However, while AIS systems have evolved over the years, they may face challenges in meeting the performance requirements of modern electrical grids compared to GIS.
GIS systems offer higher reliability in terms of insulation performance and compactness, especially in urban areas where space is limited. AIS systems typically require more space due to the use of air as an insulation medium and may not be suitable for applications requiring high voltage or where environmental conditions are harsh. This factor may restrain the growth of the air insulated switchgear market during the forecast period.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2033 |
| Base Year | 2023 |
| Market Size In 2023 | $66.8 Billion |
| Market Size In 2033 | $100.9 Billion |
| CAGR | 4.2% |
| No. Of Pages In Report | 350 |
| Segments Covered | Voltage, Application, And Region. |
| Drivers |
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| Opportunities |
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| Restraints |
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The medium segment to maintain its lead position during the forecast period
The demand for medium voltage air insulated switchgear (AIS) is increasing due to its cost-effectiveness, reliability, and suitability for diverse applications. Medium voltage AIS systems, typically rated between 1 kV and 36 kV, are essential for power distribution in industrial, commercial, and utility sectors. They are preferred for their simplicity, ease of maintenance, and robust performance under various environmental conditions. Additionally, the growing need for reliable electricity supply in developing regions, coupled with infrastructure upgrades and expansion of renewable energy integration, is driving the adoption of medium voltage AIS. Their ability to handle high fault currents and provide effective isolation and protection further enhances their appeal, making them a preferred choice for modernizing power grids and enhancing energy efficiency.
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The power distribution networks segment to maintain its lead position during the forecast period
The demand for medium voltage air insulated switchgear (AIS) in power distribution networks is increasing primarily due to its reliability, cost-effectiveness, and efficiency in managing electricity distribution. AIS systems, rated between 1 kV and 36 kV, play a crucial role in transmitting electricity from substations to end-users efficiently and safely. They provide robust insulation and protection against electrical faults, ensuring uninterrupted power supply to industrial, commercial, and residential areas. As power distribution networks expand to meet growing electricity demand, particularly in urbanizing regions, AIS offers a scalable solution that can be easily integrated into existing infrastructure. Its straightforward design and lower maintenance requirements compared to gas-insulated switchgear (GIS) make AIS a preferred choice for enhancing grid reliability and optimizing operational efficiency in power distribution applications.
Asia-Pacific to maintain its dominance by 2033
The demand for medium voltage air insulated switchgear (AIS) is increasing in the Asia-Pacific region due to several factors. Countries in Asia-Pacific are experiencing rapid industrialization, urbanization, and infrastructure development, driving the need for reliable and efficient electricity distribution solutions. AIS systems, with their cost-effectiveness, reliability, and ease of maintenance, are well-suited to support the expansion of power distribution networks in diverse geographical and environmental conditions across Asia-Pacific. Additionally, the push towards renewable energy integration and modernization of aging electrical infrastructure further boosts the adoption of AIS. Local manufacturing capabilities in countries like China and India also contribute to the growth of AIS, offering competitive pricing and localized support for infrastructure projects in the region.
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Leading Market Players: -
- Hitachi Group
- Schneider Electric
- Switchgear Company
- Siemens
- alfanar Group
- Mitsubishi Electric Power Products, Inc.
- Orecco
- Eaton
- Zhejiang Volcano Electrical Technology Co., Ltd
- ABB
- Ghorit
The report provides a detailed analysis of these key players in the global air insulated switchgear market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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