Air Insulated Switchgear Market to reach $8.41 Billion by 2022

The global air insulated switchgear market is projected to grow at a CAGR of 4.68% from 2017 to 2022. In 2016, Asia-Pacific is estimated to be the largest market for air insulated switchgear, followed by the Europe, and North America. This trend is expected to continue till 2022. The growth of the air insulated switchgear market is driven by increasing expenditure by the utilities in the transmission & distribution network and low capital investment of the air insulated switchgear.

The report segments the market on the basis of application into transmission & distribution, manufacturing and processing, infrastructure and transportation, and others. Others include oil & gas, mining, and marine. The transmission & distribution sub-segment accounted for the largest market share in 2016. Air insulated switchgear are used for power generation, transmission, and distribution applications. This sub-segment is expected to grow at the highest CAGR during the forecast period, owing to increasing focus on renewable power generation and investments in T&D infrastructure.

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Transmission & distribution to be the fastest growing application segment in the air insulated switchgear market

With regard to the application segment, transmission & distribution segment is expected to be the fastest growing market from 2017 to 2022. The growth in demand for the reliable delivery of electric power has led to an increase in investment in the transmission & distribution infrastructure, thereby resulting in demand for AIS. Moreover, the rise in energy consumption and electric network expansion projects can further boost the market in transmission & distribution segment.

Asia-Pacific: The leading market for air insulated switchgear

Asia-Pacific is expected to dominate the global air insulated switchgear market, owing to increasing expenditure in T&D networks and presence of manufacturing facilities in the region. This growth is attributed to increasing power generation capacity. China is expected to dominate the air insulated switchgear market in the Asia-Pacific region. China, India, and Southeast Asian countries are driving the market in the Asia-Pacific region.

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Leading players in the global air insulated switchgear market include ABB (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), General Electric Company (U.S.), and Eaton Corporation PLC (Ireland).

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Switchgear Monitoring System Market to Capture Unparalleled Growth with a 7.83% CAGR by 2023

According to the new market research report "Switchgear Monitoring System Market by Switchgear Type (GIS, AIS), Component (Hardware, Software) End-User (Utilities, Industries, Commercial, Others), Voltage (Medium, High), Monitoring Type (Temperature, PD, Others), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the Switchgear Monitoring System Market is projected to reach USD 2.0 billion by 2023 from an estimated USD 1.4 billion in 2018, at a CAGR of 7.83%. As the global demand for electricity is increasing at a very high rate, to meet the rising power demands, new power plants are being installed at a rapid pace. This would drive the demand for switchgear monitoring system.

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The high voltage segment is expected to hold the largest share of the Switchgear Monitoring System Market, by voltage, during the forecast period.

The high voltage segment is estimated to dominate the Switchgear Monitoring System Market in 2018 and is projected to have the largest market share during the forecast period. This is mainly due to the fact that high voltage switchgears are primarily used in power transmission over long distances. In the case of critical substations and switchyards of large power generation plants, switchgears are used for reliability and protection of the grid infrastructure.

The partial discharge monitoring segment is expected to be the fastest growing segment of the Switchgear Monitoring System Market, by monitoring type, during the forecast period.

The partial discharge monitoring segment accounted for the highest CAGR during the forecast period. Partial discharge monitoring adopts various methods to detect cracks and defects in insulations such as Transient Earth Voltage (TEV), Ultra-High-Frequency (UHF), and Acoustical Emission (AE). Partial discharge monitoring includes partial discharge sensors, local readers such as RTU/PLC, HMI, data storage, and communication protocols. This system enhances operator safety and provides confidence in the reliability and safety of electrical equipment.

Asia Pacific: The leading market for switchgear monitoring system.

In this report, the Switchgear Monitoring System Market has been analyzed with respect to 5 regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa. As per the Indian Electrical and Electronics Manufacturers Association (IEEMA), the electricity generation capacity is expected to increase from 200 GW in 2010 to over 800 GW by 2032 to fulfil the increasing demand. Thus, there is a need for a huge investment of approximately USD 300 billion in the next 3–4 years. Also, India is undertaking a lot of smart grid and substation projects to fulfill the growing demand for energy. This would create demand for the switchgear monitoring system in the region.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Switchgear Monitoring System Market. Some of the key players are Schneider Electric (France), Siemens AG (Germany), ABB (Switzerland), General Electric (US), and Emerson (US). The leading players are adopting various strategies to increase their shares in the Switchgear Monitoring System Market.