Air Insulated Switchgear Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Description
Air Insulated Switchgear Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of the Air Insulated Switchgear Market
The global air insulated switchgear market size was valued at USD 25.66 billion in 2023. The market is projected to grow from USD 27.26 billion in 2024 to USD 46.10 billion by 2032, exhibiting a CAGR of 6.79% during the forecast period.
Air insulated switchgear is used in electrical distribution systems to manage and protect power flow. Its air-based insulation offers robustness and minimal maintenance, making it ideal for diverse applications, including substations and industrial facilities.
The global shift toward decarbonization and renewable energy sources is increasing demand for switchgear in transmission lines, with air insulated switchgear emerging as a preferred option for minimizing gas emissions. With Europe banning SF6-based gas-insulated switchgear due to environmental concerns, the product is gaining traction as a viable, eco-friendly alternative, driving its adoption in European markets.
The rising energy demand in rural areas is driving the adoption of the product, which supports efficient power distribution and low-maintenance infrastructure, securing a significant market share in infrastructure development. Companies such as ABB are introducing smart, cost-effective AIS solutions requiring fewer cables and connectivity, aligning with modern infrastructure needs, boosting the air insulated switchgear market growth.
Comprehensive Analysis of the Air Insulated Switchgear Market
On the basis of installation, the market is divided into indoor and outdoor. The outdoor segment leads the market, favored for transmission and distribution applications in rural and semi-urban areas where space is not a major concern. In terms of voltage, the market is divided into high, medium, and low. The medium segment captures the key air insulated switchgear market share, driven by its crucial applications in utility and transmissions systems, offering functionalities such as efficient electricity distribution, load management, and fault protection. On the basis of end-user, the market is trifurcated into industrial, transmission & distribution utility, and commercial & residential. Driven by the expansion of transmission lines in rural areas, the transmission & distribution utility segment dominates the market. Toshiba India’s USD 10 billion investment in power transformer production is a clear indicator of the rising need for such power products. Based on geography, the market is studied across Europe, North America, the Asia Pacific, Latin America, and the Middle East & Africa.
The Asia pacific region holds the dominant position in the market. The region's rapid urbanization, industrial growth, and high electricity consumption are driving demand for air insulated switchgear to support power distribution systems.
Substantial growth in North America is fuelled by the U.S. emphasis on grid reliability, renewable energy investments, and energy-efficient solutions. U.S. investments in renewables, reaching USD 92.9 billion in 2023, are boosting demand for advanced switchgear technologies.
The major players in the air insulated switchgear market are ABB (Switzerland), Schneider Electric (France), Hitachi (Japan), Kirloskar Electric Co. Ltd. (India), Mitsubishi Electric (Japan), Siemens Energy (Germany), Hubbell Incorporated (U.S.), Toshiba International Corporation (Japan), Hyosung Corporation (South Korea), Fuji Electric Co., LTD. (Japan), L&T Electrical & Automation (India), and HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD. (South Korea). The market is fragmented, with major and regional players advancing their switchgear technologies to support electrification and climate regulations. ABB, for instance, introduced its 420 kV high-voltage hybrid switchgear in 2021, expanding its PASS series of hybrid solutions.
Mitsubishi Electric and Siemens Energy entered a MoU in June 2021 to explore the feasibility of expanding high-voltage switching solutions with zero GWP, replacing greenhouse gases with clean air for insulation.
Segmentation Table
Global Air Insulated Switchgear Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 6.79% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Installation, Voltage, End-User, and Region
Segmentation By Installation
Indoor
Outdoor
By Voltage
Low
Medium
High
By End-User
Transmission & Distribution Utility
Industrial
Commercial & Residential
By Region
North America (By Installation, Voltage, End-User, and Country)
U.S. (By End-User)
Canada (By End-User)
Europe (By Installation, Voltage, End-User, and Country)
U.K. (By End-User)
Germany (By End-User)
France (By End-User)
Italy (By End-User)
Spain (By End-User)
Rest of Europe (By End-User)
Asia Pacific (By Installation, Voltage, End-User, and Country)
Japan (By End-User)
India (By End-User)
China (By End-User)
Australia (By End-User)
Southeast Asia (By End-User)
Rest of Asia Pacific (By End-User)
Latin America (By Installation, Voltage, End-User, and Country)
Brazil (By End-User)
Mexico (By End-User)
Rest of Latin America (By End-User)
Middle East & Africa (By Installation, Voltage, End-User, and Country)
GCC (By End-User)
South Africa (By End-User)
Rest of the Middle East & Africa (By End-User)
Table of Contents
227 Pages
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions & Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Insight on Regulatory Landscape
- 4.4. Porters Five Forces Analysis
- 4.5. Impact of COVID-19 on the Global Air-Insulated Switchgear Market
- 5. Global Air Insulated Switchgear Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
- 5.1. Key Findings
- 5.2. Market Analysis, Insights, and Forecast – By Installation
- 5.2.1. Indoor
- 5.2.2. Outdoor
- 5.3. Market Analysis, Insights, and Forecast – By Voltage
- 5.3.1. Low
- 5.3.2. Medium
- 5.3.3. High
- 5.4. Market Analysis, Insights, and Forecast – By End-User
- 5.4.1. Transmission & Distribution Utility
- 5.4.2. Industrial
- 5.4.3. Commercial & Residential
- 5.5. Market Analysis, Insights, and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America
- 5.5.5. Middle East & Africa
- 6. North America Air Insulated Switchgear Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
- 6.1. Key Findings
- 6.2. Market Analysis, Insights, and Forecast – By Installation
- 6.2.1. Indoor
- 6.2.2. Outdoor
- 6.3. Market Analysis, Insights, and Forecast – By Voltage
- 6.3.1. Low
- 6.3.2. Medium
- 6.3.3. High
- 6.4. Market Analysis, Insights, and Forecast – By End-User
- 6.4.1. Transmission & Distribution Utility
- 6.4.2. Industrial
- 6.4.3. Commercial & Residential
- 6.5. Market Analysis, Insights, and Forecast – By Country
- 6.5.1. U.S. Market Analysis, Insights, and Forecast – By End-User
- 6.5.1.1. Transmission & Distribution Utility
- 6.5.1.2. Industrial
- 6.5.1.3. Commercial & Residential
- 6.5.2. Canada Market Analysis, Insights, and Forecast – By End-User
- 6.5.2.1. Transmission & Distribution Utility
- 6.5.2.2. Industrial
- 6.5.2.3. Commercial & Residential
- 7. Europe Air Insulated Switchgear Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
- 7.1. Key Findings
- 7.2. Market Analysis, Insights, and Forecast – By Installation
- 7.2.1. Indoor
- 7.2.2. Outdoor
- 7.3. Market Analysis, Insights, and Forecast – By Voltage
- 7.3.1. Low
- 7.3.2. Medium
- 7.3.3. High
- 7.4. Market Analysis, Insights, and Forecast – By End-User
- 7.4.1. Transmission & Distribution Utility
- 7.4.2. Industrial
- 7.4.3. Commercial & Residential
- 7.5. Market Analysis, Insights, and Forecast – By Country
- 7.5.1. UK Market Analysis, Insights, and Forecast – By End-User
- 7.5.1.1. Transmission & Distribution Utility
- 7.5.1.2. Industrial
- 7.5.1.3. Commercial & Residential
- 7.5.2. Germany Market Analysis, Insights, and Forecast – By End-User
- 7.5.2.1. Transmission & Distribution Utility
- 7.5.2.2. Industrial
- 7.5.2.3. Commercial & Residential
- 7.5.3. France Market Analysis, Insights, and Forecast – By End-User
- 7.5.3.1. Transmission & Distribution Utility
- 7.5.3.2. Industrial
- 7.5.3.3. Commercial & Residential
- 7.5.4. Italy Market Analysis, Insights, and Forecast – By End-User
- 7.5.4.1. Transmission & Distribution Utility
- 7.5.4.2. Industrial
- 7.5.4.3. Commercial & Residential
- 7.5.5. Spain Market Analysis, Insights, and Forecast – By End-User
- 7.5.5.1. Transmission & Distribution Utility
- 7.5.5.2. Industrial
- 7.5.5.3. Commercial & Residential
- 7.5.6. Rest of Europe Market Analysis, Insights, and Forecast – By End-User
- 7.5.6.1. Transmission & Distribution Utility
- 7.5.6.2. Industrial
- 7.5.6.3. Commercial & Residential
- 8. Asia Pacific Air Insulated Switchgear Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
- 8.1. Key Findings
- 8.2. Market Analysis, Insights, and Forecast – By Installation
- 8.2.1. Indoor
- 8.2.2. Outdoor
- 8.3. Market Analysis, Insights, and Forecast – By Voltage
- 8.3.1. Low
- 8.3.2. Medium
- 8.3.3. High
- 8.4. Market Analysis, Insights, and Forecast – By End-User
- 8.4.1. Transmission & Distribution Utility
- 8.4.2. Industrial
- 8.4.3. Commercial & Residential
- 8.5. Market Analysis, Insights, and Forecast – By Country
- 8.5.1. Japan Market Analysis, Insights, and Forecast – By End-User
- 8.5.1.1. Transmission & Distribution Utility
- 8.5.1.2. Industrial
- 8.5.1.3. Commercial & Residential
- 8.5.2. India Market Analysis, Insights, and Forecast – By End-User
- 8.5.2.1. Transmission & Distribution Utility
- 8.5.2.2. Industrial
- 8.5.2.3. Commercial & Residential
- 8.5.3. China Market Analysis, Insights, and Forecast – By End-User
- 8.5.3.1. Transmission & Distribution Utility
- 8.5.3.2. Industrial
- 8.5.3.3. Commercial & Residential
- 8.5.4. Australia Market Analysis, Insights, and Forecast – By End-User
- 8.5.4.1. Transmission & Distribution Utility
- 8.5.4.2. Industrial
- 8.5.4.3. Commercial & Residential
- 8.5.5. Southeast Asia Market Analysis, Insights, and Forecast – By End-User
- 8.5.5.1. Transmission & Distribution Utility
- 8.5.5.2. Industrial
- 8.5.5.3. Commercial & Residential
- 8.5.6. Rest of Asia Pacific Market Analysis, Insights, and Forecast – By End-User
- 8.5.6.1. Transmission & Distribution Utility
- 8.5.6.2. Industrial
- 8.5.6.3. Commercial & Residential
- 9. Latin America Air Insulated Switchgear Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
- 9.1. Key Findings
- 9.2. Market Analysis, Insights, and Forecast – By Installation
- 9.2.1. Indoor
- 9.2.2. Outdoor
- 9.3. Market Analysis, Insights, and Forecast – By Voltage
- 9.3.1. Low
- 9.3.2. Medium
- 9.3.3. High
- 9.4. Market Analysis, Insights, and Forecast – By End-User
- 9.4.1. Transmission & Distribution Utility
- 9.4.2. Industrial
- 9.4.3. Commercial & Residential
- 9.5. Market Analysis, Insights, and Forecast – By Country
- 9.5.1. Brazil Market Analysis, Insights, and Forecast – By End-User
- 9.5.1.1. Transmission & Distribution Utility
- 9.5.1.2. Industrial
- 9.5.1.3. Commercial & Residential
- 9.5.2. Mexico Market Analysis, Insights, and Forecast – By End-User
- 9.5.2.1. Transmission & Distribution Utility
- 9.5.2.2. Industrial
- 9.5.2.3. Commercial & Residential
- 9.5.3. Rest of Latin America Market Analysis, Insights, and Forecast – By End-User
- 9.5.3.1. Transmission & Distribution Utility
- 9.5.3.2. Industrial
- 9.5.3.3. Commercial & Residential
- 10. Middle East & Africa Air Insulated Switchgear Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
- 10.1. Key Findings
- 10.2. Market Analysis, Insights, and Forecast – By Installation
- 10.2.1. Indoor
- 10.2.2. Outdoor
- 10.3. Market Analysis, Insights, and Forecast – By Voltage
- 10.3.1. Low
- 10.3.2. Medium
- 10.3.3. High
- 10.4. Market Analysis, Insights, and Forecast – By End-User
- 10.4.1. Transmission & Distribution Utility
- 10.4.2. Industrial
- 10.4.3. Commercial & Residential
- 10.5. Market Analysis, Insights, and Forecast – By Country
- 10.5.1. GCC Market Analysis, Insights, and Forecast – By End-User
- 10.5.1.1. Transmission & Distribution Utility
- 10.5.1.2. Industrial
- 10.5.1.3. Commercial & Residential
- 10.5.2. South Africa Market Analysis, Insights, and Forecast – By End-User
- 10.5.2.1. Transmission & Distribution Utility
- 10.5.2.2. Industrial
- 10.5.2.3. Commercial & Residential
- 10.5.3. Rest of Middle East & Africa Market Analysis, Insights, and Forecast – By End-User
- 10.5.3.1. Transmission & Distribution Utility
- 10.5.3.2. Industrial
- 10.5.3.3. Commercial & Residential
- 11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2023
- 11.2. Company Profile
- 11.2.1. ABB
- 11.2.1.1. Business Overview
- 11.2.1.2. Product & Services Offerings
- 11.2.1.3. Recent Developments
- 11.2.1.4. Financials (Based on Availability)
- 11.2.2. Schneider Electric
- 11.2.2.1. Business Overview
- 11.2.2.2. Product & Services Offerings
- 11.2.2.3. Recent Developments
- 11.2.2.4. Financials (Based on Availability)
- 11.2.3. Hitachi
- 11.2.3.1. Business Overview
- 11.2.3.2. Product & Services Offerings
- 11.2.3.3. Recent Developments
- 11.2.3.4. Financials (Based on Availability)
- 11.2.4. Kirloskar Electric Co. Ltd.
- 11.2.4.1. Business Overview
- 11.2.4.2. Product & Services Offerings
- 11.2.4.3. Recent Developments
- 11.2.4.4. Financials (Based on Availability)
- 11.2.5. Mitsubishi Electric
- 11.2.5.1. Business Overview
- 11.2.5.2. Product & Services Offerings
- 11.2.5.3. Recent Developments
- 11.2.5.4. Financials (Based on Availability)
- 11.2.6. Siemens Energy
- 11.2.6.1. Business Overview
- 11.2.6.2. Product & Services Offerings
- 11.2.6.3. Recent Developments
- 11.2.6.4. Financials (Based on Availability)
- 11.2.7. Hubbell Incorporated
- 11.2.7.1. Business Overview
- 11.2.7.2. Product & Services Offerings
- 11.2.7.3. Recent Developments
- 11.2.7.4. Financials (Based on Availability)
- 11.2.8. Toshiba International Corporation
- 11.2.8.1. Business Overview
- 11.2.8.2. Product & Services Offerings
- 11.2.8.3. Recent Developments
- 11.2.8.4. Financials (Based on Availability)
- 11.2.9. Hyosung Corporation
- 11.2.9.1. Business Overview
- 11.2.9.2. Product & Services Offerings
- 11.2.9.3. Recent Developments
- 11.2.9.4. Financials (Based on Availability)
- 11.2.10. Fuji Electric Co., LTD.
- 11.2.10.1. Business Overview
- 11.2.10.2. Product & Services Offerings
- 11.2.10.3. Recent Developments
- 11.2.10.4. Financials (Based on Availability)
- 11.2.11. L&T Electrical & Automation
- 11.2.11.1. Business Overview
- 11.2.11.2. Product & Services Offerings
- 11.2.11.3. Recent Developments
- 11.2.11.4. Financials (Based on Availability)
- 11.2.12. HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD.
- 11.2.12.1. Business Overview
- 11.2.12.2. Product & Services Offerings
- 11.2.12.3. Recent Developments
- 11.2.12.4. Financials (Based on Availability)
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