Global air-insulated switchgear market to go over $12.26 B by 2031
The global air-insulated switchgear market is estimated to reach over $12.26 B by 2031, exhibiting a CAGR of 5.20 % during the forecast period.
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According to a report by InsightAce Analytic Pvt. Ltd, the global air-insulated switchgear market is projected to surpass $12.26 B by 2031, growing at a CAGR of 5.20 % between 2025 and 2034.
In response to environmental concerns, many countries have introduced laws and regulations to reduce the use of hydrocarbons in power generation. This shift is expected to drive growth in the global air-insulated switchgear market. Major investments by developing countries in rural electrification and expanding power networks have significantly contributed to the growth of the global air-insulated switchgear market.
Additionally, the rising demand for reliable and resilient electrical networks across various industries is driving market growth. Governments are also introducing supportive regulations to ensure uninterrupted power supply. Combined with the expansion of microgrids and greater integration of renewable energy, these efforts are expected to create strong growth opportunities for air-insulated switchgear manufacturers. Over the forecast period, increasing global energy demand and aging grid infrastructure will likely further boost the need for air-insulated switchgear.
Key market players: ABB Ltd., Schneider Electric, Siemens AG, General Electric Company, Eaton Corporation PLC, Larsen & Toubro Limited, Toshiba Corporation, Crompton Greaves Ltd., Elatec Power Distribution GmbH, etc.
Source: Open PR
#aging grid infrastructure#air insulated switchgear market#CAGR#developing countries#InsightAce Analytic Pvt. Ltd#market growth#market report#microgrid expansion#Rising demand
