The MarketResearchFuture analysis indicated that a massive surge in investment in renewables, energy efficiency and other clean energy technologies could drive declines in global demand and investment in Air Insulated Switchgear market.
The Air Insulated Switchgear Market report 2022 includes enabling technologies, key trends, market drivers, challenges, global standardization, regulatory regional landscape, deployment models, case studies, opportunities, future roadmaps, value chains, historical and forecasted data of top market player profiles. This Air Insulated Switchgear industry is a multi-billion-dollar business, with the Europe region dominating the global landscapes. It is an integral part of modern life, yet even though it has existed for over a century, the Air Insulated Switchgear Market has changed dramatically in time to time. Traditional markets such as Europe and North America are now being joined by emerging economies such as Asia Pacific.
Air insulated switchgear market is expected to expand at ~4.5% CAGR during the forecast period.
Air Insulated Switchgear Market Overview
The global air insulated switchgear market has been expanding in view of increasing energy prices and towering demand for electrical power worldwide. Provision of power has become a challenging task for system operators. Moreover, the augmenting need for robust and highly reliable electric networks in various industry verticals has fueled the growth of the market. Lower initial level capital investment acts a plus for the market growth. The market has been growing in rural areas and developing countries where there is availability of land as air insulated switchgear requires considerable space.
Stringent regulations by government and other administrative bodies aimed at safeguarding the environment is also a market driver. Due to environmental concerns, various rules have been imposed to reduce the use of hydrocarbons in electricity generation. Furthermore, the global trend of a shift towards renewable energy sources has also been a boon for the global air insulated switchgear market. Substantial investment by developing countries towards electrifying rural areas and the expansion of existing networks has boosted the growth of the market. However, the threat from alternatives is likely to restrain the growth of the global air insulated switchgear market over the forecast period.
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Globally Major key Players accelerates the Air Insulated Switchgear Market is ABB Ltd. (Switzerland), Schneider Electric SE (France), Eaton Corporation, PLC (Ireland), Siemens AG (Germany), General Electric Company (U.S.), Larsen & Toubro Limited (India), Toshiba Corporation (Japan), Crompton Greaves, Ltd. (India), Ormazabal (Brazil), C&S Electric (India), Lucy Electric (UK), TEPCO Group (Japan), and Alfanar Group (Saudi Arabia), and Other.
Air Insulated Switchgear Market Industry Aspects:
- International Energy Agency (IEA) – the energy prospects for Southeast Asia have been affected by the Covid-19 pandemic, new energy and climate policy commitments and, most recently, high and volatile prices exacerbated by the Russian Federation’s (hereafter, “Russia”) invasion of Ukraine. Covid-19 led to a major economic shock for countries in Southeast Asia and the economic recovery now risks being slowed by higher energy prices.
- Russia’s unprovoked invasion of Ukraine has had far-reaching impacts on the global energy system, disrupting supply and demand patterns and fracturing long-standing trading relationships.
- China and the United States each registered gigawatt-scale additions. Utility-scale installations continue to dominate the market, accounting for around two-thirds of total added capacity. Although new policies and projects in key markets are set to accelerate growth, an even faster rise is needed to align with the Net Zero Emissions by 2050 Scenario, which sees nearly 600 GW of battery storage capacity installed by 2030.
Most important Segments of Air Insulated Switchgear Market covered in this report are: The global advanced energy storage market is segmented based on application and technology.
The global air insulated switchgear market has been segmented based on power range, installation, and application. By power range, the market has been segmented into 3 – 24 kV, and Above 24 kV. By installation, the market has been segmented into Indoor and Outdoor. By application, the market has been segmented into Distribution Utilities, Oil & Gas, Infrastructure & Transportation, and Other.
Air Insulated Switchgear Industry Influence of the global market report: –Comprehensive assessment of all opportunities and risks in the Air Insulated Switchgear Market. –Air Insulated Switchgear Market recent innovations and major events. –A detailed study of business strategies for the growth of the Air Insulated Switchgear Market market-leading players. –Conclusive study about the growth plot of Air Insulated Switchgear Market for forthcoming years. –In-depth understanding of Air Insulated Switchgear Market, market-particular drivers, constraints, and major micro markets. –Favorable impression inside vital technological and market latest trends striking the Air Insulated Switchgear Market.
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The Air Insulated Switchgear Market report explores the current outlook in global and key regions (North America, Europe, Asia-Pacific, and Latin America) from the perspective of players, countries (U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc.), product types, and end industries.
What are the market factors that are covered in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the Air Insulated Switchgear market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The Air Insulated Switchgear Market report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
The research includes historic data from 2017 to 2021 and forecasts until 2030 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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