The air insulated switchgear market is expected to grow at a CAGR of 4.68% from 2017 to 2022, to reach a market size of USD 8.41 billion by 2022. Increasing investments in transmission & distribution sector is a major factor driving the air insulated switchgear market.
The air insulated switchgear market is dominated by a few major players that have a wide regional presence and are established brand names. Leading players in the air insulated switchgear industry include ABB Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), General Electric Company (U.S.), and Eaton Corporation PLC (Ireland). ABB Ltd. (Switzerland) and Siemens AG (Germany) has adopted contracts & agreements as a key strategy to enhance their presence in air insulated switchgear market.
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Asia-Pacific is estimated to be the fastest growing market for air insulated switchgear from 2017 to 2022. This growth is attributed to the increasing T&D investments and rising power generation capacity in the region. The presence of manufacturing facilities is also driving the growth of air insulated switchgear in the region. The Chinese market for air insulated switchgear is expected to grow at the fastest rate during the forecast period. India and Southeast Asian countries are also expected to witness significant growth during the same period.
Based on voltage range of air insulated switchgear, the 3 kV–36 kV segment is expected to account for the largest market share in 2016. These air insulated switchgear are commonly used for power distribution, industrial, and infrastructure applications. So, rising infrastructural developments along with increasing T&D expenditure is expected to create new revenue pockets for 3 kV–36 kV segment. The >36 kV air insulated switchgear finds application primarily in power transmission over long distances. AIS are used at transmission substations and power generation substations. So, the demand for >36 kV air insulated switchgear is driven by sub-transmission and transmission sectors.
The indoor segment is estimated to be the largest market for air insulated switchgear in 2016 based on installation segment. The medium voltage air insulated switchgear is majorly installed indoor. So, the increasing installation of medium voltage switchgear is likely to drive the air insulated switchgear market in indoor segment. Renewable sector also supports the growth of indoor air insulated switchgear, with many solar and wind power plant projects deploying indoor air insulated switchgear as an integral part of their power generation and distribution network. This is expected to create new revenue pockets in the air insulated switchgear market during the forecast period.
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The report segments the air insulated switchgear market based on end-user into transmission & distribution, manufacturing and processing, infrastructure and transportation, and others. The others segment includes oil & gas, mining, and marine. The transmission & distribution segment is estimated to be the fastest growing market for air insulated switchgear in 2016. The rising renewable power generation and increasing T&D investments is likely to drive the demand of air insulated switchgear in transmission & distribution application segment. This is expected to create new revenue pockets in air insulated switchgear market, during the forecast period. Also, the increasing investments in electro-intensive industries such as chemicals, steel, and cement are expected to drive the air insulated switchgear market in manufacturing and processing segment.
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