Dublin, Sept. 26, 2023 (GLOBE NEWSWIRE) -- The "Air Insulated Switchgear: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Air Insulated Switchgear is on a rapid growth trajectory, with a projected valuation of $9 billion by the year 2030, according to a recent report. In 2022, the market was estimated at $6.6 billion, and this substantial expansion is expected to be driven by various factors over the analysis period of 2022-2030, with a CAGR of 4%.
Segment Analysis: 3-36 kV Records Impressive Growth
One of the standout segments analyzed in the report is the 3-36 kV range, which is projected to record a remarkable 4.4% CAGR, reaching a market size of $5.8 billion by the end of the analysis period. This growth is influenced by several factors, including the ongoing post-pandemic recovery.
Above 36 kV Segment: Adjusted Growth Projection
In light of market dynamics, the growth projection for the Above 36 kV segment has been readjusted to a revised 3.3% CAGR for the next 8 years. This segment is expected to be a significant contributor to the overall market expansion.
Key Geographic Markets: U.S. and China Lead the Way
The United States, with an estimated market size of $1.8 billion in 2022, remains a vital player in the Air Insulated Switchgear market. Meanwhile, China, the world's second-largest economy, is forecasted to reach a market size of $1.9 billion by 2030, with an impressive CAGR of 6.8% over the analysis period. These two global powerhouses are expected to drive substantial growth in the industry.
Noteworthy Growth in Other Geographic Markets
Other noteworthy geographic markets include Japan and Canada, each projected to grow at 2.1% and 3.3%, respectively, over the 2022-2030 period. In Europe, Germany is anticipated to achieve a growth rate of approximately 2.7% CAGR, further contributing to the global market's expansion.
Comprehensive Report Overview
The comprehensive analysis of the global Air Insulated Switchgear market presented in this report categorizes the market by geographic region, voltage range (3-36 kV and above 36 kV), indoor and outdoor installations, and various application sectors (Transmission & Distribution, Manufacturing & Processing, Infrastructure & Transportation, and Other Applications). The report provides insights into both recent past and future projections, with annual sales in US$ million from 2012 through 2030, along with corresponding percentage CAGR. Additionally, it offers an 18-year perspective, breaking down value sales for select years (2012, 2023, and 2030).
Select Competitors
The report highlights key players in the Air Insulated Switchgear market, including ABB, Ltd., Alfanar Group, Crompton Greaves, Ltd., Eaton Corporation, PLC, Efacec Power Solutions, Elatec Power Distribution GmbH, Epe Power Switchgear Sdn. BHD., General Electric Company, Larsen & Toubro Limited, Ormazabal, Schneider Electric, Siemens AG, Tavrida Electric AG, Toshiba Corporation, and Zpeu, PLC.
What's New in This Report?
This report offers special coverage on critical global events, including the Russia-Ukraine war, global inflation, the easing of the zero-Covid policy in China and its 'bumpy' reopening, supply chain disruptions, global trade tensions, and the risk of recession.
It also provides insights into global competitiveness and key competitor percentage market shares, market presence across multiple geographies (Strong/Active/Niche/Trivial), online interactive peer-to-peer collaborative bespoke updates, access to digital archives, and a Research Platform. Additionally, the report includes complimentary updates for one year.
Key Report Attributes
- Number of Pages: 89
- Forecast Period: 2022 - 2030
- Estimated Market Value (USD) in 2022: $6.6 Billion
- Forecasted Market Value (USD) by 2030: $9 Billion
- Compound Annual Growth Rate: 4.0%
- Regions Covered: Global
For more information about this report visit https://www.researchandmarkets.com/r/3o0v86
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