High reliability of underground distribution systems, and growing TD (Transmission distribution) services are the major factors influencing market growth.
Market Size – USD 5.93 Billion in 2020, Market Growth - CAGR of 9.4%, Market Trends –Global rise in demand for reliable underground distribution systems.
The global Pad Mounted Switchgear Market is forecasted to reach USD 12.14 Billion by 2028, according to a new report by Reports and Data. This can be mainly associated with the high demand for reliable underground distribution systems. Growing TD (Transmission distribution) services is also expected to promote growth during the coming years. Other additional advantages include cross bus at the top of the enclosure for the comfort of inspection, and flexible modular design increases life cycle support including field upgrades and repairs. Besides, this switchgear is available in mild steel, aluminum or stainless steel construction and is also easily replaceable. The underground distribution system is increasing at a rapid rate due to the shift in trend. Continuous and constant power for optimum operation is also anticipated to drive market growth over the years.
APAC pad mounted switchgear market is anticipated to grow at a CAGR of 9.5% during the forecast period. The increasing preference for underground distribution will spur the growth over the forecast period. Considerable TD network industrialization and expansion projects in this region are undoubtedly influencing the increase in demand of the market. Developing scope for pad-mounted switchgear market in application sectors offers various benefits such as highly reliable power for maximum, continuous and unbroken operations which is expected to amplify the demand for underground distribution systems.
Key participants include Entec Electric Electronic Co., GW Electric, Tiepco, Power Grid Solution Inc, Hubbel Incorporated, SC Electric Company, Trayer Engineering Corporation, Electronic Electrical Industries Corporation, Eaton Corporation and Federal Pacific.
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Further key findings from the report suggest
- Air insulated pad-mounted switchgear segment accounts for a market share of 29.90% in 2020. It is due to its financial viability. In areas with ample space, air-insulated switchgear is the first choice due to its low-cost feature.
- Solid insulated switchgear market is anticipated to grow at a CAGR of 9.8% during the forecast period and when compared with oil insulated switch gears, it is considered as the first substitute.
- Solid insulators are mainly deployed for horizontal or vertical mounting, wet and corrosive environment, and are used in any desired altitude. Also, epoxy is environmentally safe and inert. Therefore, no EPA usage restrictions can be implied making it undoubtedly suitable in the industry.
- Growing Transmission distribution (TD) services should promote growth during the coming years. Also, high reliability of underground distribution systems is anticipated to be the principal factor for the growth of the market over the forecast period.
- Other additional advantages include cross bus at the top of the enclosure for the comfort of inspection, and flexible modular design increases life cycle support including field upgrades and repairs.
- The voltage rating segment is divided as 0-15 kV, 16-25 kV, and above 25 kV. Pad-mounted switchgears are available in several mechanical and electrical configurations. Pad-mount switchgears operate on medium-voltage distribution systems, up to about 35 kV. The market for 16-25 kV rating is expected to grow at a CAGR of 9.6% during the forecast period. The low-voltage winding matches the customer requirement and may be single-phase or three-phase.
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For the purpose of this report, Reports and Data have segmented global Pad Mounted Switchgear Market on the basis of Product Type, Application, Insulation type, Voltage range, and region:
Product Type Outlook (Volume, Thousand Units; and Revenue, USD Million; 2018-2028)
- PWVE three-phase Reclosers
- General Kyle types PWE and PWVE padmounted
- Electronically controlled, three-phase automatic circuit reclosers
Insulation type Outlook (Volume, Thousand Units; and Revenue, USD Million; 2018-2028)
- Gas Insulated
- Air Insulated
Application Outlook (Volume, Thousand Units; and Revenue, USD Million; 2018-2028)
Voltage range Outlook (Volume, Thousand Units; and Revenue, USD Million; 2018-2028)
- 0-15 kV
- 16-25 kV
- Above 25 kV
Regional Outlook (Volume, Thousand Units; and Revenue, USD Million; 2018-2028)
- North America
- Asia Pacific
- Latin America
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Key Advantages of Pad Mounted Switchgear Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Pad Mounted Switchgear industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Pad Mounted Switchgear market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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