25 September 2020
Visiongain has launched a new report Air Insulated Switchgear Market Report 2020-2030: Forecasts by Voltage Level (Low Voltage, Medium Voltage, and High Voltage), End-user (Power Utilities, Industrial, Commercial, Residential), by Region and Analysis of Leading Companies.
The global increase in capacity to generate renewable energy is driving the air-insulated switchgear market. The implementation of renewable energy generation methods is the preferred measure by various nations, because it eliminates global warming and other environmental challenges. In addition, many countries can now accommodate on-shore wind and solar energy, which drives power generation using renewable sources. The renewable power generation includes a transmission and distribution part such as air insulated switchgear, which could act as a circuit and breaker.
Air-insulated switchgear (AIS) uses air as the insulating medium and plays a crucial role in regulating and shielding equipment for the power grid. The demand for electricity in the developed countries has continued to remain higher due to continuous improvements in lighting efficiency, refrigerators and motors etc. Therefore, over the forecast period, the rising demand for electricity in developing countries is expected to drive the market. In addition, the electricity transmission and distribution system are expected to experience dramatic growth due to the rising global electrification rate, which, in turn , is expected to boost demand for AIS during the forecast period.
As these switchgears are commonly used in power distribution stations and compact substations in load centers, the power utility segment is likely to experience significant demand for the air-insulated switchgear market. Growing investments in the renewable sector and outdated power infrastructure are expected to give the market lucrative opportunities.
Asia-Pacific is expected to dominate the market, with the major demand coming from countries like India and China. Several countries in the region have inadequate power distribution networks. The problem of lack of T&D networks is concentrated primarily in the remote and rural areas. The countries in the region are investing heavily in the construction of transmission line networks to electrify those regions. The expansion of these networks, during the forecast period, is expected to witness a significant substantial growth. Since much of this expansion is expected to occur in rural areas, utility companies are likely to choose AIS over GIS because they are a cheaper choice because due to lower land costs in these regions.
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