Air Insulated Switchgear Market worth $85.9 billion | MarketsandMarkets™

The AIS market is poised for substantial growth during this period, primarily due to the development of power distribution infrastructure in response to the growing demand for electricity. Furthermore, the expansion of renewable energy-based capacity and increased investments in industrial production are likely to drive the demand for AIS.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=79980057

Browse in-depth TOC on "Air Insulated Switchgear Market"

208 - Tables
60 - Figures
224 - Pages

Air Insulated Switchgear Market Scope:

High voltage segment, by voltage, to occupy majority of AIS market share.

During the forecast period, the high voltage segment, categorized by voltage, is expected to secure a dominant market share. High-voltage air insulated switchgears, operating high (above 36 kV), are crucial in transmission, heavy industries, mining, railways, and commercial infrastructures. The high voltage air insulated switchgear includes dead tank circuit breakers and live tank circuit breakers. These switchgears find application primarily in power transmission over long distances. AIS are used at transmission substations and power generation substations. Typically placed outdoors due to space requirements, they consist of circuit breakers, isolators, transformers, and bus bars. Faulty tripping is rare, and these switchgears often remain ON for extended periods. They play a vital role in renewable power transmission and medium-voltage substations. As electrification and renewable integration are on the rise, the demand for high-voltage switchgear, especially automated and smart ones for smart grids, is expected to surge during the forecasted period.

Transportation segment, by application, to be the fifth-largest and fourth-fastest market.

Air Insulated Switchgear (AIS) plays a pivotal role in ensuring the smooth operation of infrastructure and transportation systems worldwide. With its robust design and reliable performance, AIS serves as a cornerstone technology in various critical applications, contributing to the seamless functioning of modern societies, AIS plays a crucial role in transportation, powering railways, airports, and seaports. It ensures uninterrupted operation of signaling systems, lighting, and other essential electrical components critical for the safe and efficient movement of people and goods. By safeguarding the reliability of transportation networks, AIS contributes to the overall sustainability and economic growth of regions and nations.

North America to emerge as the third-largest Air Insulated Switchgear Market.

During the forecast period, North America is anticipated to hold the third-largest market share in the global Air Insulated Switchgear Market encompassing the US, Canada, and Mexico. With the US and Canada jointly contributing approximately 92.8% to North America's Air Insulated Switchgear Market in the same year, the region boasts robust trade ties and substantial foreign investments. With a combined population of nearly 530 million and an economy representing over one-quarter of the world's GDP, North America faces substantial power demands, leading to increased investments in fortifying and modernizing its transmission and distribution utilities.

The region is currently undergoing a transformative phase in its utilities sector, characterized by a shift toward digital operational strategies focusing on decentralization, digitization, and decarbonization of power systems. Aging power infrastructures, with nearly 72% of the US power infrastructure beyond 25 years of service, pose blackout risks, prompting active government initiatives to upgrade and replace these structures for enhanced grid reliability.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=79980057

Key Market Players of Air Insulated Switchgear Industry:

Key players in the global Air Insulated Switchgear Market include ABB (Switzerland), General Electric (US), Siemens (Germany), Schneider Electric (France), and Eaton (Ireland).

Recent Developments of Air Insulated Switchgear Industry:

• In August 2023, ABB expanded its partnership with Northvolt to electrify the world's largest battery recycling facility, Revolt Ett, established by Northvolt in Skellefteå, northern Sweden.
• In April 2023, Siemens Energy and Spain's Dragados Offshore has signed a framework agreement with German-Dutch transmission system operator TenneT to supply high-voltage direct current (HVDC) transmission technology for three grid connections in the German North Sea.
• In April 2023, Eaton announced it has completed the acquisition of a 49% stake in Jiangsu Ryan Electrical Co. Ltd. (Ryan), a manufacturer of power distribution and sub-transmission transformers in China.

The primary interviews conducted for this report can be categorized as follows:

• By Company Type: Tier 1-30%, Tier 2-55%, and Tier 3-15%
• By Designation: C-Level-30%, D-Level-20%, and Others-50%
• By Region: North America–18%, Europe–8%, Asia Pacific–10%, South America–4% and Middle East & Africa–60%.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=79980057

Air Insulated Switchgear Market - Key Benefits of Buying the Report:

The report is thoughtfully designed to benefit both established industry leaders and newcomers in the AIS market. It provides reliable revenue forecasts for the entire market as well as its individual sub-segments. This data is a valuable resource for stakeholders, enabling them to gain a comprehensive understanding of the competitive landscape and formulate effective market strategies for their businesses. Furthermore, the report serves as a channel for stakeholders to grasp the current state of the market, providing essential insights into market drivers, limitations, challenges, and growth opportunities. By incorporating these insights, stakeholders can make well-informed decisions and stay informed about the constantly evolving dynamics of the switchgear industry.

The report provides insights on the following pointers:

• Analysis of key drivers: (modernization of power distribution infrastructure worldwide, rapid growth in renewable energy-based capacity expansion), restraints (Challenges of Spacing Requirements in Air Insulated Switchgear), opportunities (High capabilities of handling high voltages of HVDC system, Air-Insulated Switchgear Adoption in Infrastructure Development), and challenges (Operational Hurdles in High-Voltage Air Insulated Switchgear Systems, Intense competition from unorganized sector) influencing the growth of the AIS market.
• Product Development/ Innovation: The AIS market is in a constant state of evolution, with a primary focus on product development and innovation. Leading industry players like ABB, Siemens, Schneider Electric, and General Electric are at the forefront of advancing their product offerings to address shifting demands and environmental considerations. There is a notable shift towards enhancing the intelligence of AIS.
• Market Development: The AIS market is experiencing significant growth and development driven by various factors. the growing demand for integrating renewable energy sources is driving the expansion of the HVDC market, consequently increasing the demand for AIS. With wind and solar energy sources becoming more widespread, there is a growing need for efficient and reliable power transmission systems. HVDC systems offer a suitable solution by efficiently transmitting large amounts of power over long distances with minimal energy losses, thereby facilitating the integration of renewable energy sources into the grid. Additionally, the development of innovative technologies such as hybrid switchgear, which combines the strengths of AIS and GIS (Gas Insulated Switchgear), is expected to drive the expansion of the AIS market. Hybrid switchgear combines the advantages of both AIS and GIS, including increased reliability, modular substation design, space efficiency, improved performance, easy installation, and reduced switching components. This technological advancement is particularly significant in renewable energy applications, where space utilization and reliability are critical factors.
• Market Diversification: The AIS market is experiencing significant diversification, driven by a multitude of factors. The increasing focus on renewable energy sources and the modernization of power distribution systems also present opportunities for AIS in the infrastructure development industry. The aging grid infrastructure and the need for upgrades, replacements, or augmentations of existing, aging substations highlight the need for many new substations, where AIS is expected to represent a significant portion of these new substations.
• Competitive Assessment: A comprehensive evaluation has been conducted to scrutinize the market presence, growth strategies, and service offerings of key players in the AIS market. These prominent companies include Eaton (Ireland), ABB (Switzerland), Schneider Electric (France), Siemens (Germany), General Electric (US), and others. This analysis provides in-depth insights into the competitive positions of these major players, their approaches to driving market growth, and the range of services they offer within the AIS segment.

Related Reports:

Gas Insulated Switchgear Market - Global Forecasts to 2028

Switchgear Market  - Global Forecasts to 2028

Get access to the latest updates on Air Insulated Switchgear Companies and Air Insulated Switchgear Industry Growth

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC. 
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

SOURCE MarketsandMarkets