Global Air Insulated Switchgear Market 2019-2023| Grid Resiliency to Promote Growth| Technavio
LONDON–(BUSINESS WIRE)–#Energy–The global air insulated switchgear market is expected to post a CAGR of
over 7% during the period 2019-2023, according to the latest
market research report by Technavio.
A key factor driving the growth of the market is the increase in
renewable power generation capacity. To reduce global warming and other
environmental pollutions, several countries are adopting methods to
generate power from renewable sources. Countries such as China, the US,
India, and the EU countries are some of the leading nations that are
adopting and implementing methods to generate power from renewable
sources. In terms of capacity of generating power from renewable
sources, China is leading by accounting for more than 40% of the global
increase in renewable power generation capacity between 2011 and 2018.
This market research report on the global
air insulated switchgear market 2019-2023 also provides an
analysis of the most important trends expected to impact the market
outlook during the forecast period. Technavio classifies an emerging
trend as a major factor that has the potential to significantly impact
the market and contribute to its growth or decline.
This report is available at a USD 1,000 discount for a limited time
market snapshot before purchasing
In this report, Technavio highlights grid resiliency as one of the key
emerging trends in the global air insulated switchgear market:
Global air insulated switchgear market: Grid
The ability to restore the normal working state after disasters or
natural calamities is known as the resilience of a grid. For example,
countries such as the US have to renovate and upgrade most of its TSB
grids after natural disasters like Hurricanes Harvey, Irma, and Maria.
The US government is improving grid resilience to avoid damages of
grids. The adoption of smart grids, hardening grids, increasing
distribution generation resources, and integration of loT in power
transmission are the four main objectives for grid resilience.
“The trend of grid resilience is primarily found in the US. Countries
such as China, Japan, India, and other European countries are expected
to invest in grid resilience to improve the resilience of power grids.
At the event held in San Francisco in September 2018 on grid resilience,
attended by participants from China, Australia, and the US, discussions
were held on efforts and investments to increase grid resilience in
countries such as China, Australia, and the US. An increased number of
countries are expected to invest in grid resilience during the forecast
period,” says a senior analyst at Technavio for research on human
Global air insulated switchgear market:
This market research report segments the global air insulated switchgear
market by voltage (low voltage AIS, medium voltage AIS, and high voltage
AIS) and by geographical regions (APAC, EMEA, and the Americas).
APAC led the market in 2018 with a market share of nearly 47%. This
region is expected to dominate the market through 2023.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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