The global air insulated switchgear market is projected to grow at a CAGR of 4.68% from 2017 to 2022, to reach a market size of USD 8.41 Billion by 2022. This growth is attributed to increasing investments in T&D infrastructure and low capital investment of air insulated switchgear.
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Air Insulated Switchgear Market worth 8.41 Billion USD by 2022
The report "Air Insulated Switchgear Market by Voltage Range (3 kV–36 kV and >36 kV), Installation (Indoor and Outdoor), Application (Transmission & Distribution, Manufacturing & Processing, and Infrastructure & Transportation), and Region - Global Forecast to 2022", The air insulated switchgear market is expected to grow from an estimated USD 6.69 Billion in 2017 to USD 8.41 Billion by 2022, at a CAGR of 4.68% from 2017 to 2022. The global market is set to witness significant growth, due to the increasing expenditure in electrical network and low capital investment of air insulated switchgear.
Browse 63 market data tables and 52 figures spread through 152 pages and in-depth TOC on "Air Insulated Switchgear Market by Voltage Range (3 kV–36 kV and >36 kV), Installation (Indoor and Outdoor), Application (Transmission & Distribution, Manufacturing & Processing, and Infrastructure & Transportation), and Region - Global Forecast to 2022"
The 3 kV–36 kV segment is expected to hold the largest share of the air insulated switchgear market, by voltage range, during the forecast period
The 3 kV–36 kV segment led the air insulated switchgear market in 2016 and is expected to grow at the fastest rate during the forecast period, owing to the increasing demand of air insulated switchgear in medium voltage applications.
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These air insulated switchgear are majorly used for applications such as power generation, infrastructure & transportation, manufacturing & processing, and distribution sector. This segment is expected to create new revenue pockets for the air insulated switchgear market during the forecast period.
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Transmission & distribution to be the fastest growing application segment in the air insulated switchgear market
With regard to the application segment, transmission & distribution segment is expected to be the fastest growing market from 2017 to 2022. The growth in demand for the reliable delivery of electric power has led to an increase in investment in the transmission & distribution infrastructure, thereby resulting in demand for AIS.
Moreover, the rise in energy consumption and electric network expansion projects can further boost the market in transmission & distribution segment.
Asia-Pacific: The fastest growing market for air insulated switchgear
In this report, the air insulated switchgear market has been analyzed with respect to six regions, namely, Asia-Pacific, Europe, North America, the Middle East, South America, and Africa. Asia-Pacific is expected to dominate the global air insulated switchgear market, owing to increasing expenditure in T&D networks and presence of manufacturing facilities in the region.
China is expected to dominate the air insulated switchgear market in the Asia-Pacific region.
To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the air insulated switchgear market. These players include ABB Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), General Electric Company (U.S.), and Eaton Corporation PLC (Ireland).
Leading players are trying to penetrate the markets in developing economies, and are adopting various strategies to increase their market share.
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