Air Insulated Switchgear Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Air Insulated Switchgear Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of the Air Insulated Switchgear Market

The global air insulated switchgear market size was valued at USD 25.66 billion in 2023. The market is projected to grow from USD 27.26 billion in 2024 to USD 46.10 billion by 2032, exhibiting a CAGR of 6.79% during the forecast period.

Air insulated switchgear is used in electrical distribution systems to manage and protect power flow. Its air-based insulation offers robustness and minimal maintenance, making it ideal for diverse applications, including substations and industrial facilities.

The global shift toward decarbonization and renewable energy sources is increasing demand for switchgear in transmission lines, with air insulated switchgear emerging as a preferred option for minimizing gas emissions. With Europe banning SF6-based gas-insulated switchgear due to environmental concerns, the product is gaining traction as a viable, eco-friendly alternative, driving its adoption in European markets.

The rising energy demand in rural areas is driving the adoption of the product, which supports efficient power distribution and low-maintenance infrastructure, securing a significant market share in infrastructure development. Companies such as ABB are introducing smart, cost-effective AIS solutions requiring fewer cables and connectivity, aligning with modern infrastructure needs, boosting the air insulated switchgear market growth.

Comprehensive Analysis of the Air Insulated Switchgear Market

On the basis of installation, the market is divided into indoor and outdoor. The outdoor segment leads the market, favored for transmission and distribution applications in rural and semi-urban areas where space is not a major concern. In terms of voltage, the market is divided into high, medium, and low. The medium segment captures the key air insulated switchgear market share, driven by its crucial applications in utility and transmissions systems, offering functionalities such as efficient electricity distribution, load management, and fault protection. On the basis of end-user, the market is trifurcated into industrial, transmission & distribution utility, and commercial & residential. Driven by the expansion of transmission lines in rural areas, the transmission & distribution utility segment dominates the market. Toshiba India’s USD 10 billion investment in power transformer production is a clear indicator of the rising need for such power products. Based on geography, the market is studied across Europe, North America, the Asia Pacific, Latin America, and the Middle East & Africa.

The Asia pacific region holds the dominant position in the market. The region's rapid urbanization, industrial growth, and high electricity consumption are driving demand for air insulated switchgear to support power distribution systems.

Substantial growth in North America is fuelled by the U.S. emphasis on grid reliability, renewable energy investments, and energy-efficient solutions. U.S. investments in renewables, reaching USD 92.9 billion in 2023, are boosting demand for advanced switchgear technologies.

The major players in the air insulated switchgear market are ABB (Switzerland), Schneider Electric (France), Hitachi (Japan), Kirloskar Electric Co. Ltd. (India), Mitsubishi Electric (Japan), Siemens Energy (Germany), Hubbell Incorporated (U.S.), Toshiba International Corporation (Japan), Hyosung Corporation (South Korea), Fuji Electric Co., LTD. (Japan), L&T Electrical & Automation (India), and HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD. (South Korea). The market is fragmented, with major and regional players advancing their switchgear technologies to support electrification and climate regulations. ABB, for instance, introduced its 420 kV high-voltage hybrid switchgear in 2021, expanding its PASS series of hybrid solutions.

Mitsubishi Electric and Siemens Energy entered a MoU in June 2021 to explore the feasibility of expanding high-voltage switching solutions with zero GWP, replacing greenhouse gases with clean air for insulation.

Segmentation Table

Global Air Insulated Switchgear Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 6.79% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Installation, Voltage, End-User, and Region

Segmentation By Installation

Indoor

Outdoor

By Voltage

Low

Medium

High

By End-User

Transmission & Distribution Utility

Industrial

Commercial & Residential

By Region

North America (By Installation, Voltage, End-User, and Country)

U.S. (By End-User)

Canada (By End-User)

Europe (By Installation, Voltage, End-User, and Country)

U.K. (By End-User)

Germany (By End-User)

France (By End-User)

Italy (By End-User)

Spain (By End-User)

Rest of Europe (By End-User)

Asia Pacific (By Installation, Voltage, End-User, and Country)

Japan (By End-User)

India (By End-User)

China (By End-User)

Australia (By End-User)

Southeast Asia (By End-User)

Rest of Asia Pacific (By End-User)

Latin America (By Installation, Voltage, End-User, and Country)

Brazil (By End-User)

Mexico (By End-User)

Rest of Latin America (By End-User)

Middle East & Africa (By Installation, Voltage, End-User, and Country)

GCC (By End-User)

South Africa (By End-User)

Rest of the Middle East & Africa (By End-User)