Global Air Insulated Switchgear Market is segmented by voltage range (3 kV–36 kV and >36 kV), by installation (Indoor and Outdoor), by application (transmission & distribution, manufacturing and processing, infrastructure and transportation and others.), by geography (North America, Europe, Asia Pacific, Middle East & Africa and South America)) is expected to reach US $ 8.80 Bn by 2026, at a CAGR of 4.47 %.
The 3 kV–36 kV segment is expected to hold a significant share of the global air-insulated switchgear market.
The 3 kV–36 kV segment is projected to grow at a high rate of CAGR during the forecast period. The growth in the market is attributed to the growing demand of air-insulated switchgear in medium voltage applications. This air-insulated switchgear is extensively used for applications like power generation, infrastructure & transportation, manufacturing & processing, and distribution. This segment is projected to contribute to the maximum market share for the air-insulated switchgear market during the forecast period.
The transmission & distribution segment is projected to dominate the global air-insulated switchgear market.
Based on the application segment, the transmission & distribution segment is projected to be the witness significant growth in the global air-insulated switchgear market. The growth in the market is attributed to the growing demand for the reliable delivery of electric power, a surge in investment in the transmission & distribution infrastructure. Additionally, the increase in energy consumption and electric network expansion projects is expected to boost the growth in the global air-insulated switchgear market by transmission & distribution segment.
The Asia Pacific is expected to be a leading region in the global air-insulated switchgear market.
In the region, many countries in Asia-Pacific have insufficient electricity distribution network. The presence of the lack of transmission and distribution networks is primarily concentrated in the remote and rural areas, which is expected to increase the demand for insulated switchgear. To electrify these rural areas, the developing countries in the region are investing heavily in building a transmission line network. The rapid expansion of these networks is projected to record significant growth during the forecast period. Rising expansion of transmission network, predominantly in rural and remote areas across the developing countries are expected to be a major driver for the air-insulated switchgear market in the Asia-Pacific region.
Key players operating in the Global Air Insulated Switchgear Market includes Toshiba International Corporation, Mitsubishi Electric Corporation, Siemens AG, ABB Ltd., Schneider Electric SE, General Electric Company, Powell Industries, Inc., Crompton Greaves, Ltd., Hyosung Power & Industrial Systems PG, Larsen & Toubro Limited, Bharat Heavy Electricals Limited, Elatec Power Distribution GmbH, Epe Power Switchgear Sdn. BHD., Nissin Electric Co., Ltd., Köhl S.Á R.L., Matelec Group, Eaton Corporation, PLC. , Crompton Greaves, Ltd., Efacec Power Solutions, Alfanar Group, Zpeu, PLC. , Tavrida Electric AG , C&S Electric Limited, Tepco Group, Arteche, Pars Tableau and Wenzhou Rockwell Transformer Co., Ltd.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the global air insulated switchgear market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global air insulated switchgear market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global air insulated switchgear market positioning of competitors.
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