Air-Insulated Switchgear Market Size, Share, By Voltage (Low, Medium, and High), By Installation (Indoor, and Outdoor), By End-Use (Commercial, Residential, Utility, and Others), and By Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America) - Trends, Analysis, and Forecast till 2034

Report Code: PMI537724 | Publish Date: June 2024 | No. of Pages: 189

Air Insulated Switchgear Market Overview

Air-Insulated Switchgear Market Size was valued at USD 7.8 Billion in 2024 and is expected to reach USD 14.4 Billion by 2034 growing at a CAGR of 7.0%.

Air-insulated switchgear (AIS) is a class of electrical switchgear used mainly for heat-transfer insulation between ground and moving parts. In power distribution and transmission systems, it is widely used to switch, control, and protect electrical circuits. The phrase "air insulated" refers to air acting as the main insulating medium in AIS. Circuit breakers, disconnect switches, busbars, and instrument transformers are typical switchgear components. These components are fastened to a steel framework and put in compartments open to the outside air. The electrical components of the switchgear are designed to be adequately insulated and spaced apart to prevent arcing and other electrical issues.

The global electrification rate, the growing need for energy in developed countries, and the development of power supply and distribution infrastructure are expected to drive the air-insulated switchgear market during the forecast period. Using gas-insulated switchgear (GIS) as an alternative to air-insulated switchgear is expected to limit market expansion over the projection period since the latter's substations require high maintenance and, as a result, high operating costs.

The increasing usage of renewable energy sources like solar and wind power opens up new opportunities for the AIS market. For renewable energy projects, robust switchgear solutions are often required to incorporate intermittent power sources into the system while maintaining power quality and grid stability. Replacing outdated switchgear with more advanced AIS systems opens up a vast opportunity for industry growth. AIS's efficiency, reliability, and safety are higher than those of earlier switchgear systems.

Air-Insulated Switchgear Market

Air Insulated Switchgear Market Dynamics

Key Drivers of Target Market:

Integrating Ecological Energy Sources:

  • The increased usage of renewable energy sources like solar and wind requires upgrading the electrical grid. Controlling the intermittent nature of renewable energy requires air-insulated switchgear because it facilitates grid integration. The global switching device sector will gain from this scenario as the need for clean and green energy increases.

Growing Usage of Electricity:

  • Population growth, rapid urbanization, and an increasing reliance on electrical devices across numerous industries have all contributed to the growing need for stable and efficient power delivery. For controlled and safe power transmission, investments in grid infrastructure, especially for air-insulated switchgear, are thus necessary.

Restrains:

The danger presented by substitute technologies:

  • Gas-insulated switchgear (GIS) offers a compact, weatherproof solution for high-voltage applications. Possible cost savings and advances in GIS technology could challenge AIS's dominance in this sector. Moreover, air-insulated switchgear requires more regular maintenance than GIS since it is subjected to more environmental factors. This can result in higher lifecycle costs for some customers.

Opportunities:

Increase in Renewable Energy Manufacturing:

  • The increased usage of renewable energy sources, such as solar and wind power, drives up demand for AIS. For renewable energy projects, robust switchgear solutions are often required to incorporate intermittent power sources into the system while maintaining power quality and grid stability

Air Insulated Switchgear Market Segmentation

The market is segmented based on Voltage, Installation, End-Use, and Region.

Voltage Insight:

  • Low: The Low Voltage section describes Switchgear rated for voltages generally below 1 kV. It is utilized in low-rise buildings, commercial spaces, and industrial control panels to guarantee the efficient and safe energy distribution at lower voltage levels.
  • Medium: This is the biggest category; switchgear rated for voltages between 1 and 36 kV is included. Medium voltage distribution networks, commonly used in wind farms, utilities, and industrial sites, depend on it.
  • High: The High Voltage division contains equipment rated for voltages up to 72.5 kV and above 36 kV. It facilitates bulk power transfer over long distances, which is helpful for sub-transmission and high-voltage transmission applications.

Installation Insight:

  • Indoor: Switching devices also showed a significant market share in this category, likely due to their widespread use in low-voltage transmission in the power industry and tiny substations. It offers advantages including quicker access for maintenance and protection from bad weather. However, because of the space needs, it can cost more and needs a certain location.
  • Outdoor: The outdoor segment dominated the market because of the variety of outdoor applications, including ultra-high-voltage transmission, very large power plants, and long-distance power transmission. Substantial, long-term expenditures in distribution and transmission networks govern the outdoor market.

End-Use Insights

  • Commercial: AIS is used in a variety of venues, including retail stores, hotels, offices, and commercial buildings. AIS guarantees the safe and dependable power distribution for HVAC systems, lights, and other electrical equipment.
  • Residential: The residential category includes using AIS in low-rise residential buildings and apartment complexes. In this instance, the building's safe and efficient electrical distribution depends on LV AIS.
  • Utility: Since air-insulated switchgear is frequently used in power distribution stations and compact substations in load centers, there should be a significant increase in demand for the product in the power utility market.
  • Others: This area deals with new AIS applications, such as the integration of renewable energy sources (wind farms, solar plants) and data centres with high power requirements.

Regional Insights

  • North America: Known for producing well-known brands like Eaton and ABB, North America is a developed market. Growing investments in renewable energy and an increasing focus on grid modernization are driving the industry's expansion. Strict safety regulations also affect product development.
  • Asia Pacific: Asia-Pacific held the most market share for air-insulated switchgear. Many Asian nations have inadequate infrastructure for energy distribution. Remote and rural locations are more likely to lack T&D networks. The nations in the region are spending a lot of money developing transmission line networks to electrify these areas.
  • Europe: The continent's fastest growth rate was attributed to modernizing antiquated hydropower plants, increased energy use, and government attempts to upgrade grid infrastructure. Profitable growth potential will exist over the projected period due to higher investments in transmission and distribution facilities.
  • Latin America: Although the continent lacks adequate infrastructure, renewable energy, and grid modernization spending is rising. Overcoming infrastructure constraints and attracting foreign investment are necessary for market expansion.
  • Middle East and Africa: The region's economic expansion is raising demand for electricity. Future market expansion prospects include building electricity infrastructure and focusing more on renewable energy sources.

Air-Insulated Switchgear Market Report Scope:

Attribute

Details

Market Size 2024

USD 7.8 Billion

Projected Market Size 2034

USD 14.4 Billion

CAGR Growth Rate

7.0%

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Billion & CAGR from 2024 to 2034

Market Segmentation

By Voltage - Low, Medium, and High

By Installation - Indoor, and Outdoor

By End- Use - Commercial, Residential, Utility, and Others

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study segmented the target market report based on Voltage, Installation, End-Use, and Region:

Segmentation:

By Voltage:

  • Low
  • Medium
  • High

By Installation:

  • Indoor
  • Outdoor

By End-Use:

  • Commercial
  • Residential
  • Utility
  • Others

By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Air Insulated Switchgear Market Key Players

The key players operating the Air-Insulated Switchgear Market include Eaton Corporation, ABB, Siemens, Toshiba, Alfanar Group, Larsen & Toubro Limited, Schneider Electric SE, General Electric Company, Ormazabal, C&S Electric, Lucy Electric, and TEPCO Group.

Air-Insulated Switchgear Market Size, Share

Air Insulated Switchgear Market Key Issues Addressed

  • In April 2023, Dragados Offshore of Spain and Siemens Energy of Germany were awarded a €7 billion ($7.77 billion) contract by Dutch-German gearbox system operator TenneT to design, build, and install three offshore windfarm energy converter platforms in the German North Sea.
  • In August 2021, Schneider Electric introduced GenieEvo Connected, a comprehensive, trustworthy switchgear line with unparalleled connectivity for asset health monitoring. GenieEvo connected, setting a new standard for primary air-insulated switchgear and providing cloud-based maintenance services 24/7 for efficient maintenance.

Air Insulated Switchgear Market Company Profile

  • Eaton Corporation *
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • ABB
  • Siemens
  • Toshiba
  • Alfanar Group
  • Larsen & Toubro Limited
  • Schneider Electric SE
  • General Electric Company
  • Ormazabal
  • C&S Electric
  • Lucy Electric
  • TEPCO Group

“*” marked represents similar segmentation in other categories in the respective section

Air Insulated Switchgear Market Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Preview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Voltage
      • Market Snippet, By Installation
      • Market Snippet, By End-Use
      • Market Snippet, By Region
    • Opportunity Map Analysis
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Market Trends
    • Product Launch
    • Merger and Acquisitions
    • Impact Analysis
    • PEST Analysis
    • Porter’s Analysis
  4. Market Segmentation, Voltage, Forecast Period up to 10 Years, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
      • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
      • Segment Trends
    • Low
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Medium
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
      • Segment Trends
    • High
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
      • Segment Trends
  5. Market Segmentation, Installation, Forecast Period up to 10 Years, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
      • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
      • Segment Trends
    • Indoor
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Outdoor
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
      • Segment Trends
  6. Market Segmentation, End-Use, Forecast Period up to 10 Years, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
      • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
      • Segment Trends
    • Commercial
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Residential
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Utility
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Others
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  7. Global Market, By Region, Forecast Period up to 10 Years, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
      • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Bn), By Voltage, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Installation, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By End-Use, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • U.S
        • Canada
    • Asia Pacific
      • Market Size and Forecast (US$ Bn), By Voltage, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Installation, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By End-Use, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
    • Europe
      • Market Size and Forecast (US$ Bn), By Voltage, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Installation, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By End-Use, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • UK
        • Germany
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Latin America
      • Market Size and Forecast (US$ Bn), By Voltage, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Installation, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By End-Use, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Market Size and Forecast (US$ Bn), By Voltage, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Installation, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By End-Use, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East and Africa
  8. Competitive Landscape
  • Heat Map Analysis
  • Company Profiles
    • Eaton Corporation
    • ABB
    • Siemens
    • Toshiba
    • Alfanar Group
    • Larsen & Toubro Limited
    • Schneider Electric SE
    • General Electric Company
    • Ormazabal
    • C&S Electric
    • Lucy Electric
    • TEPCO Group

The Last Word

  • Future Impact
  • About Us
  • Contact

FAQs

Air-Insulated Switchgear Market Size was valued at US$ 7.8 billion in 2024 and is expected to grow at a CAGR of 7.0% to reach US$ 14.4 billion by 2034

The Air-Insulated Switchgear Market is segmented into Voltage, Installation, End-Use, and Region.

The market is being driven by factors such as integrating sustainable energy sources and rising power usage.

The threat of alternative technologies is one of the factors constraining the air-insulated switchgear market.

The Air-Insulated Switchgear Market is segmented by region into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Asia Pacific is expected to dominate the Market.

The key players operating the Air-Insulated Switchgear Market include Eaton Corporation, ABB, Siemens, Toshiba, Alfanar Group, Larsen & Toubro Limited, Schneider Electric SE, General Electric Company, Ormazabal, C&S Electric, Lucy Electric, and TEPCO Group.