Air Insulated Switchgear Market worth $85.9 billion | MarketsandMarkets™
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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.
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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:
The primary interviews conducted for this report can be categorized as follows:
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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:
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