Air insulated switchgear (AIS) is a type of switchgear that uses air as the insulating medium. It is widely used in power transmission and distribution systems due to its simplicity, reliability, and low cost. With the increasing demand for electricity around the world, the AIS market is expected to grow at a significant rate in the coming years. In this article, we will discuss the latest market research report on the innovations and opportunities in the air insulated switchgear market.
Market Overview:
According to the latest market research report by MarketsandMarkets, the global air insulated switchgear market is expected to grow from $6.7 billion in 2020 to $8.9 billion by 2025, at a CAGR of 5.8% during the forecast period. The increasing demand for electricity, along with the growing renewable energy sector, is driving the growth of the AIS market.
The report also highlights the increasing need for grid modernization and the replacement of aging infrastructure as a key factor driving the market’s growth. Furthermore, the report emphasizes the rising demand for smart grid technologies and the integration of renewable energy sources in the power grid, which is expected to create new opportunities for the AIS market.
Innovations and Opportunities:
The AIS market is witnessing significant innovations and developments that are creating new opportunities for market players. One of the significant innovations is the development of digital air insulated switchgear. Digital AIS is a switchgear that uses advanced sensors, communication, and control technologies to monitor and control power distribution. It provides real-time data on power quality, equipment performance, and load management, enabling efficient and reliable power distribution.
Another innovation in the AIS market is the development of eco-friendly switchgear. Eco-friendly switchgear uses alternative insulation materials, such as SF6-free gas or vacuum, instead of SF6 gas, which is a potent greenhouse gas. Eco-friendly switchgear is gaining popularity due to its environmentally friendly nature and its compliance with the regulations on greenhouse gas emissions.
Furthermore, the market players are focusing on the development of compact and modular switchgear designs to reduce the space required for installation. Compact and modular switchgear designs also offer increased flexibility and scalability, enabling easy expansion of power systems.
Conclusion:
The air insulated switchgear market is expected to witness significant growth in the coming years, driven by the increasing demand for electricity and the need for grid modernization. The market is witnessing significant innovations and developments, including the development of digital AIS, eco-friendly switchgear, and compact and modular switchgear designs, creating new opportunities for market players. To succeed in the market, players need to focus on innovation, technological advancements, and environmental sustainability.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Everest Market Insights journalist was involved in the writing and production of this article.