Air Insulated Switchgear Market Overview:
Air Insulated Switchgear Market is expected to expand at 4.6% CAGR up to 8,512 million during the forecast period (2022-2030).
The market is expected to experience strong growth in the coming years, with the increasing demand for renewable energy driving the growth of the market. The deployment of renewable energy projects, such as wind and solar, requires efficient and reliable power transmission and distribution systems, which is driving the demand for air insulated switchgear.
The rise in energy demands have given way to the progress of the air insulated switchgear market 2020. The energy and power industry reports are created by Market Research Future, which centers on market choices for expansion. A 4.5% CAGR is predicted to be seen in the market during the coming period.
The intensifying transmission & distribution financings are estimated to boost the air insulated switchgear market growth. The expanding capacity additions for power generation are estimated to encourage the air insulated switchgear market in the future. Also, the reduced low capital investment is foreseen to motivate the air insulated switchgear market in the future.
Segmental Analysis
The segmental appraisal of the air insulated switchgear market is conducted on the basis of voltage, installation,
end-user and region. The end-user based segmentation of the air insulated switchgear market includes Manufacturing & Processing, Transmission & Distribution, and Infrastructure & Transportation. On the basis of region, the air insulated switchgear market consists of Asia Pacific, North America, the Middle East & Africa, Europe, and South America. Based on the voltage, the air insulated switchgear market comprises of Up to 36 kV and >36 kV. On the basis of installation, the air insulated switchgear market comprises of indoor and outdoor.
Detailed Regional Analysis
The regional evaluation of the air insulated switchgear market includes regions such as Asia Pacific, North America, the Middle East & Africa, Europe, and South America. The Asia Pacific region is anticipated to retain the principal portion throughout the forecast period owing to the growing electrical infrastructure spending and developing renewable sector that is present in the region. The key countries of China and India are driving the air insulated switchgear market in the APAC region owing to increasing transmission & distribution savings. The APAC regional market is anticipated to develop at quickest rate throughout the forecast period due to novel power generation capacity add-ons in the Southeast Asian countries such as Philippines, Indonesia, Malaysia, and Thailand, in the region.
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Competitive Analysis
The intensive attention focused on research and development activities is projected to open up new areas for development of the market in the forecast period. The market is observed to be on a hot streak of expansion in the forecast period. The market players are expected to contribute in a significant way to the progress of the market by investing capital and fortifying their assets and competencies in the market to match the pulse of the market. The customer inclinations are projected to define the growth of the global market more than ever in the coming years. The robust marketing activities undertaken by the contenders in the market are inspiring the next steps for market development in the forecast period. The improved backing by government and trade bodies are creating a favorable pace of growth in the market. The control of overhead costs is projected to motivate the market considerably in the forecast period.
The strategic contenders in the air insulated switchgear market are Crompton Greaves, Ltd. (India), Schneider Electric SE (France), Siemens AG (Germany), Eaton Corporation, PLC (Ireland), General Electric Company (U.S.), Larsen & Toubro Limited (India), C&S Electric (India), Toshiba Corporation (Japan), ABB Ltd. (Switzerland), Ormazabal (Brazil), Lucy Electric (UK), TEPCO Group (Japan), and Alfanar Group (Saudi Arabia).
Industry Updates:
Mar 2020 Tranos, Nigeria’s foremost engineering and manufacturing firm, has associated with Siemens for the production of metal-enclosed switchgear in Nigeria. This teamwork combines Tranos’ world-class sheet metal designing and production competency with Siemens’ high quality and ground-breaking power distribution modules. The air-insulated switchgear can be perfectly pooled with SION vacuum circuit breakers and is type-tested for interior installation in compliance with IEC 62271-200.
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