2020 Study on the Air Insulated Switchgear Industry – Growing Investments in the Renewable Sector Expected to Offer Huge Business Opportunities

Dublin, Aug. 28, 2020 (GLOBE NEWSWIRE) — The “Air Insulated Switchgear Market – Growth, Trends, and Forecasts (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.The power utility segment is likely to witness significant demand for the air-insulated switchgear market, as these switchgears are widely used in power distribution stations and compact substations in load centers.Growing investments in the renewable sector and the ageing power infrastructure are expected to offer huge business opportunities for the market studied.Asia-Pacific is expected to dominate the market, with majority of the demand coming from the countries, such as India and China.Key TrendsOwing to an increasing focus on conserving and ensuring uninterrupted power supply, power utilities are focusing on substation and switchgear technologies that require less space and have a reduced outage.Utilities can also opt for a hybrid switchgear-based substation, which is a mix of AIS and GIS technologies. In the hybrid substations, only the busbars are air-insulated and all the other equipment, such as circuit breakers, bushings, current transformers, etc., are gas insulated.Existing substations are mostly outdoor air-insulated substations, and at the time when these were built, the location was in the outskirt of the city. Air-insulated switchgear is widely used in the power distribution stations and compact substations in load centers, such as residential areas, high rise buildings, etc.The global electricity demand rose by 4% in 2018, growing nearly twice as fast as the overall demand for energy. The world’s two largest power markets, China and the United States, accounted for 70% of the global electricity demand growth, in 2018.In China, electricity demand increased by 8.5%, and this increase was led by the industrial sector, including iron, steel and other metals, cement, and construction, as well as higher demand for cooling.Therefore, based on the above-mentioned factors, the power utilities sector is likely to witness significant demand, over the forecast period.Asia-Pacific to Dominate the World MarketMany countries in Asia-Pacific have an inadequate electricity distribution network. The problem of lack of T&D networks is mainly concentrated in the remote and rural areas. To electrify these areas, the countries in the region are investing heavily in building transmission line networks.The expansion of these networks is expected to register significant growth, during the forecast period. As most of this expansion is expected to take place in rural areas, utility companies are expected to prefer AIS over GIS as they are a cheaper option, due to the lower cost of land in these areas.Developing countries, like India and China, in the region are extensively upgrading and installing new transmission lines and distribution networks to uphold the infrastructural developments, which is expected to be a major driving factor of the air-insulated switchgear market.The new power generation capacity additions in the Southeast Asian countries, such as Indonesia, Malaysia, the Philippines, Thailand, etc., are expected to boost the demand for the AIS market.Therefore, factors, such as the increasing demand for electricity, along with the ageing grid infrastructure, are expected to drive the demand for air-insulated switchgear in the Asia-Pacific region, over the forecast period.Competitive LandscapeResearch and Markets also offers Custom Research services providing focused, comprehensive and tailored research.CONTACT: ResearchAndMarkets.com
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