The market growth could be hindered due to the threat of substitutes such as gas insulated switchgear which can be installed even underground apart from indoors because it is filled with sulfur hexafluoride and entirely sealed, whereas air insulated switchgear requires more space.
San Francisco, CA -- (SBWIRE) -- 04/10/2018 -- Substations that employ air insulated switchgear primarily use air for phase to ground and phase to phase insulation and have been in operation years prior to the introduction of gas insulated switchgear substations. Air insulated switchgear substations are best fitted for expedited installations as they require less construction time. Moreover, it is easy to attend to faults as all the equipment are within view, thus helping with easy maintenance. Such substations are practically feasible because of the low cost of switchgear and construction and quality design. Furthermore, they are one of the first choices for areas with ample space.
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Global Air Insulated Switchgear Market: Key Trends
The international air insulated switchgear market is prognosticated to take precedence with a colossal growth expected to be witnessed on account of low capital investment and swelling investments in transmission and distribution infrastructure. The market growth could be hindered due to the threat of substitutes such as gas insulated switchgear which can be installed even underground apart from indoors because it is filled with sulfur hexafluoride and entirely sealed, whereas air insulated switchgear requires more space. Howbeit, air insulated switchgear finds usage in a range of different segments by voltage range, installation, and application, which opens up new avenues for players in the air insulated switchgear market.
The indoor air insulated switchgear market is projected to record a faster growth rate as well as dominate other installation segments during the course of the forecast period 2017–2025. With their usage in applications related to the distribution, manufacturing and processing, infrastructure and transportation, and power generation sectors, air insulated switchgears of 3 kV–36 kV are predicted to showcase both a faster and larger growth. By application, transmission and distribution is prophesied to rake in a handsome demand in the global air insulated switchgear market that is attributable to the rising attention on investments and renewable power generation.
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Global Air Insulated Switchgear Market: Market Potential
Siemens India had a perfect day at office in March 2017 when it won an INR 187.4 crore worth project in Dhaka from the Bangladesh Rural Electrification Board (BREB). The project is expected to incorporate the construction of 33/11 kV air insulated switchgear substations also in Chittagong and Sylhet. The share prices of the company had added 1.3% on a Friday. Siemens had quoted an INR 1,250.35 on the Bombay Stock Exchange (BSE), up by an INR 10.80, during the same period. The project is researched to use solutions and products that are all manufactured in Siemens India factories.
Global Air Insulated Switchgear Market: Regional Outlook
The researchers envision six key regions, viz. Africa, South America, the Middle East, North America, Europe, and Asia Pacific, which could set the tone for the world air insulated switchgear market. Out of these, Asia Pacific is foretold to outshine with a remarkable dominance and higher CAGR throughout the forecast period. Countries such as India and China and Southeast Asia are foreseen to be the major regions propelling the growth of the air insulated switchgear market in Asia Pacific. Besides this, the decent presence of manufacturing facilities, surge in transmission and distribution expenditure, and soaring power generation capacity are prognosticated to help Asia Pacific make a statement in the global air insulated switchgear market.
Global Air Insulated Switchgear Market: Competitive Landscape
One of the most frequently adopted strategies by the top companies in the international air insulated switchgear market could be agreements and contracts. However, they are anticipated to be followed by new product launches, acquisitions and mergers, and expansions. Some of the dominating players in the global air insulated switchgear market are Eaton Corporation PLC, General Electric Company, Schneider Electric SE, Siemens AG, and ABB.
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