Pad-Mounted Switchgear Market

Pad-Mounted Switchgear Market size reached USD 6.1 billion in 2021 and is estimated to reach USD 8.7 billion in 2029 and the market is estimated to grow at a CAGR 4.5%.

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Key Drivers

The key factors propelling the growth of the Pad-Mounted Switchgear market include the increasing development in T&D infrastructure, need for upgrading the aging power infrastructure, high reliability of underground distribution system, and the rising adoption of distribution automation to achieve highly reliable and safe power transmission. In this era of technological innovation and advancements, the entire business of utilities is evolving rapidly to enhance operational efficiency. Pad-mounted switchgear is a compact, self-contained system that is ideal for medium-voltage and critical loads. Its applications include data centers, production facilities, healthcare facilities, and production facilities, which require highly dependable power for optimum and continuous operations. It is integrated with automation, which provides protection against loss of source health, overcurrent, and fault protection for critical loads. Moreover, the pad-mounted switchgear switches can be operated either manually or via distribution automation to meet end-user requirements. Some of the other benefits of pad-mounted switchgear technology includes cross bus at the top of enclosure for ease of flexible and inspection modular design, which promotes life cycle support, including field upgrades and repairs. Therefore, such upgradations in features of pad-mounted switchgears is accelerating the future growth of the market. However, the installation cost of pad-mounted switchgear is comparatively high, that might hinder the growth of the market.

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Type – Segment Analysis

Based on type, the market is segmented into air insulated, gas insulated, solid dielectric, and others. Among these, the solid dielectric segment is projected to grow at a higher CAGR during the forecast period. SF6 is a major component of gas insulated switchgears, which emits greenhouse gas with global warming potential. Multiple utilities are planning to replace the gas insulated switchgears with alternatives. Solid dielectric switchgears use epoxy insulation medium, which is an alternative for SF6. Therefore, replacement and restriction plans on SF6 is expected to boost the growth of soli dielectric segment in the market.

Standard – Segment Analysis

On the basis of standard, the market is segmented into IEC, IEEE and other standards. Among these, the IEC segment is expected to grow at a higher CAGR during the forecast period. This is attributed to the stringent requirements and regulations to meet stability and reliability demands. Moreover, widespread adoption of standard in Europe is also proliferating the growth of IEC segment in the market.

Application – Segment Analysis

Based on application, the market is segmented into industrial, commercial, and residential. Among these, the industrial segment is expected to grow at a higher CAGR during the forecast period. Industrial loads are high-priority loads and face major revenue loss in event of power loss. Hence, the demand of continuous and reliable supply is driving the utilities to adopt underground distribution system progressively, driving the demand for the market.

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Regional – Segment Analysis

On the basis of Region, Europe is anticipated to lead the market during the forecast period. Underground distribution is most common form of distribution in Europe. Multiple countries such as Netherlands, have completely deployed distribution network underground due to numerous advantages including, low fault rate and enhanced reliability. Moreover, the region is progressively focusing upgradation and replacement of aging infrastructure, converting overhead lines into underground lines and enhanced grid reliability. Hence, proliferating the growth of market in the region.

Top Market Players

The major players in the market include Eaton Corporation Plc, Hubbell Inc, G&W Electric Co., Federal Pacific Equipment Inc, S&C Electric Co, ABB Ltd, Powell, Electronic & Electrical Industries Corporation (EEIC), KDM Steel, and Switchgear Power Systems LLC among others.

Segments covered in the Report:

Pad-Mounted Switchgear market has been segmented based on Standard, Type, Voltage, Application, and Key Region. Based on Standard, the market is segmented into IEC, EEE, and Others. Based on Type, the market is segmented into Air Insulated, Gas Insulated, Solid Dielectric, and Others. Based on Voltage, the market is segmented into Up to 15kV, 15-25kV, and 25-38Kv. Based on Application, the market is segmented into Industrial, Commercial, and Residential.

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Key questions answered in this research report:

• • At what pace is the global Pad-Mounted Switchgear market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Pad-Mounted Switchgear market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Pad-Mounted Switchgear market?
  • What are the applications areas in the global Pad-Mounted Switchgear market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Pad-Mounted Switchgear Market by Standard

• • IEC
  • IEEE
  • Other Standards

Global Pad-Mounted Switchgear Market by Type

• • Air Insulated
  • Gas Insulated
  • Solid Dielectric
  • Others

Global Pad-Mounted Switchgear Market by Voltage

• • Up to 15 kV
  • 15–25 kV
  • 25–38 kV

Global Pad-Mounted Switchgear Market by Application

• • Industrial
  • Commercial
  • Residential

Global Pad-Mounted Switchgear Market by Region

• • North America Pad-Mounted Switchgear Market (Option 1: As a part of the free 25% customization)
    • By Standard
    • By Type
    • By Voltage
    • By Application
    • US All-Up Market
    • Canada All-Up Market
  • Europe Pad-Mounted Switchgear Market (Option 2: As a part of the free 25% customization)
    • By Standard
    • By Type
    • By Voltage
    • By Application
    • UK All-Up Market
    • Germany All-Up Market
    • Rest of Europe All-Up Market
  • Asia-Pacific Pad-Mounted Switchgear Market (Option 3: As a part of the free 25% customization)
    • By Standard
    • By Type
    • By Voltage
    • By Application
    • China All-Up Market
    • India All-Up Market
    • Rest of Asia-Pacific All-Up Market
  • RoW Pad-Mounted Switchgear Market (Option 4: As a part of the free 25% customization)
    • By Standard
    • By Type
    • By Voltage
    • By Application
    • U.A.E. All-Up Market
    • Brazil All-Up Market
    • Rest of World (remaining countries on LAMEA) All-Up Market

Leading Market Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • Eaton Corporation Plc
  • Hubbell Inc
  • G&W Electric Co.
  • Federal Pacific Equipment Inc
  • S&C Electric Co
  • ABB Ltd
  • Powell
  • Electronic & Electrical Industries Corporation (EEIC)
  • KDM Steel
  • Switchgear Power Systems LLC