Air Insulated Switchgear Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Middle-East and Africa |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Air Insulated Switchgear Market Analysis
The global air insulated switchgear market is expected to register a CAGR of more than 4% during the forecast period of 2022 - 2027. The outbreak of the COVID-19 led to the global economic slowdown, which, in turn, led to a slowdown in industrial and commercial activities, hampering the growth of the air-insulated switchgear market. Factors such as increasing demand for electricity in the developed countries, increasing electrification rate globally, increasing electricity transmission and distribution infrastructure developments are expected to drive the demand for air-insulated switchgear market during the forecast period. However, the adoption of gas-insulated switchgear (GIS) as an alternative to air-insulated switchgear, as air-insulated switchgear substations require high maintenance, thus leading to high operational costs, which is likely to restrain the market growth during the forecast period.
- The power utility segment is likely to witness significant demand for the air-insulated switchgear market, as they are widely used in power distribution stations and compact substations in load centers.
- Growing investments in the renewable energy sector and the aging power infrastructure are expected to offer huge business opportunities for the market players in the coming years.
- Asia-Pacific is expected to dominate the market, with majority of the demand coming from the countries, such as India and China.
Air Insulated Switchgear Market Trends
This section covers the major market trends shaping the Air Insulated Switchgear Market according to our research experts:
Power Utilities Segment to Witness Significant Demand
- Owing to an increasing focus on conserving and ensuring uninterrupted power supply, power utilities are focusing on substation and switchgear technologies that require less space and have a reduced outage.
- Utilities can also opt for a hybrid switchgear-based substation, which is a mix of AIS and GIS technologies. In the hybrid substations, only the busbars are air-insulated and all the other equipment, such as circuit breakers, bushings, current transformers, etc., are gas insulated.
- Existing substations are mostly outdoor air-insulated substations, and at the time when these were built, the location was in the outskirt of the city. Air-insulated switchgears are widely used in the power distribution stations and compact substations in load centers, such as residential areas, high rise buildings, etc.
- Electricity demand registered its fastest growth in more than 10 years, as of 2021. The demand rose by 4.5% in 2021 with almost 80% of the projected increase came from emerging markets and developing economies. The world's two largest power markets, China and the United States accounted for around 45% of the global electricity demand in 2021.
- In China, electricity demand increased by 10% in 2021, and this increase was led by the industrial sector, including iron, steel and other metals, cement, and construction, as well as higher demand for cooling.
- Therefore, based on the above-mentioned factors, the power utilities sector is likely to witness significant demand, during the forecast period.
Asia-Pacific to Dominate the Market
- Many countries in Asia-Pacific have an inadequate electricity distribution network. The problem of lack of T&D networks is mainly concentrated in remote and rural areas. To electrify these areas, the countries in the region are investing heavily in building transmission line networks.
- The expansion of these networks is expected to register significant growth, during the forecast period. As most of this expansion is expected to take place in rural areas, utility companies are expected to prefer AIS over GIS, as they are a cheaper option, due to the lower cost of land in these areas.
- Developing countries, like India and China, are extensively upgrading and installing new transmission lines and distribution networks to uphold the infrastructural developments, which is expected to be a major driving factor of the air-insulated switchgear market.
- The new power generation capacity additions in the Southeast Asian countries, such as Indonesia, Malaysia, the Philippines, Thailand, etc., are expected to boost the demand for the AIS market.
- Furthermore, Southeast Asia, one of the fastest-growing regions in electricity demand in recent decades, and expected to return to its previous growth rates by adding 5.4% of demand in 2021 compared to 2020.
- Therefore, factors, such as the increasing demand for electricity, along with the aging grid infrastructure, are expected to drive the demand for air-insulated switchgear in the Asia-Pacific region, over the forecast period.
Air Insulated Switchgear Industry Overview
The air insulated switchgear market is moderately fragmented. The key players in the market include ABB Ltd, Siemens AG, Schneider Electric SE, Larsen & Toubro Limited, Alfanar Group, among others.
Air Insulated Switchgear Market Leaders
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Schneider Electric SE
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Alfanar Group
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ABB Ltd
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Siemens AG
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Larsen & Toubro Limited
*Disclaimer: Major Players sorted in no particular order
Air Insulated Switchgear Market News
- In August 2021, Schneider Electric launched GenieEvo Connected, a comprehensive, reliable switchgear range with unparalleled connectivity for asset health monitoring. GenieEvo connected, setting a new standard for primary air-insulated switchgear completely with 24/7 cloud-based service for efficient maintenance.
Air Insulated Switchgear Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2027
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
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4.7 Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitutes Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Voltage Level
- 5.1.1 Low Voltage
- 5.1.2 Medium Voltage
- 5.1.3 High Voltage
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5.2 End-User
- 5.2.1 Power Utilities
- 5.2.2 Industrial
- 5.2.3 Commercial and Residential
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5.3 Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia-Pacific
- 5.3.4 South America
- 5.3.5 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
- 6.3.1 ABB Ltd
- 6.3.2 Siemens AG
- 6.3.3 Schneider Electric SE
- 6.3.4 Larsen & Toubro Limited
- 6.3.5 Alfanar Group
- 6.3.6 Eaton Corporation PLC
- 6.3.7 Wenzhou Unisun Electric Co., Ltd.
- 6.3.8 Mitsubishi Electric Corporation
- 6.3.9 Elatec Power Distribution GmbH
- 6.3.10 Tavrida Electric
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityAir Insulated Switchgear Industry Segmentation
The air insulated switchgear market report includes:
| Voltage Level | Low Voltage |
| Medium Voltage | |
| High Voltage | |
| End-User | Power Utilities |
| Industrial | |
| Commercial and Residential | |
| Geography | North America |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Air Insulated Switchgear Market Research FAQs
What is the current Air Insulated Switchgear Market size?
The Air Insulated Switchgear Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Air Insulated Switchgear Market?
Schneider Electric SE , Alfanar Group , ABB Ltd, Siemens AG and Larsen & Toubro Limited are the major companies operating in the Air Insulated Switchgear Market.
Which is the fastest growing region in Air Insulated Switchgear Market?
Middle-East and Africa is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Air Insulated Switchgear Market?
In 2024, the Asia Pacific accounts for the largest market share in Air Insulated Switchgear Market.
What years does this Air Insulated Switchgear Market cover?
The report covers the Air Insulated Switchgear Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Air Insulated Switchgear Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Air-Insulated Switchgear Industry Report
Statistics for the 2024 Air-Insulated Switchgear market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Air-Insulated Switchgear analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
