Lucintel Forecasts Air Insulated Switchgear Market to Reach $XX Billion by 2028
According to the recent study the air insulated switchgear market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 4% to 6% from 2023 to 2028. Growth in this market is primarily driven by expansion in electric infrastructure, rising power generation capacity additions, and increasing adoption of green energy.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in air insulated switchgear market by voltage range (3 kV–36 kV and >36 kV), installation (indoor and outdoor), application (transmission and distribution, manufacturing and processing, and infrastructure and transportation), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Indoor market is expected to remain the largest segment during the forecast period.”
Based on installation, the air insulated switchgear market is segmented into indoor and outdoor. Lucintel forecasts that the indoor market is expected to remain the largest segment due to the rise in expenditure on electrical network, increasing focus on renewable power generation, switchgears requiring low maintenance, and modular design of switchgears.
“Within the air insulated switchgear market, the transmission & distribution segment is expected to remain the largest application”
Based on application the transmission & distribution segment is expected to witness the highest growth over the forecast period due to increasing demand for electricity, increasing focus on renewable power generation, and investments in T&D infrastructure.
“Asia pacific will dominate the air insulated switchgear market in near future”
APAC will remain the largest region during the forecast period due to increasing power generation capacity, rise in T&D expenditure, and growth in construction and infrastructure sectors.
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