Pad mounted switchgear market is anticipated to grow at a considerable CAGR of 5.7% during the forecast period. The pad mounted switchgear is outlined to meet the switching and isolating requirements of electrical distribution systems with pre-engineered switching configurations. It is integrated with an enclosure which provides security of fuse and switch components from environmental hazards and damages. In addition, pad mounted switchgear is used for high-priority loads such as commercial and residential which require high reliability and underground cables with pad-mounted switchgear. The factors that contribute to the growth of the market include increasing power generation capacity majorly in developing countries such as China, and India. Moreover, growing demand for electricity, rapidly increasing industrial and infrastructural development projects, and growing trends towards undergrounding the electrical cables to ensure efficient and reliable power distribution system are the biggest driver boosting the market growth. For instance, in 2019, a report published by IRENA, shows that the global share of electricity in total final use of energy raised from 20% in 2019 and expected to rise nearly 45% by 2050. Meanwhile, the renewable share in the power generation, reached 26% in 2019 and expected to reach upto 85% by 2050.
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However, pad-mounted switchgear requires high installation cost and capital investment, especially for the installation of the concrete foundation and cable terminations, this are the restraining factor that limits the growth of the market.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Pad Mounted Switchgear Market, by Medium
- Air
- Gas
- Fluid
- Solid
Global Pad Mounted Switchgear Market, by Voltage
- 0-15kv
- 15-25kv
- 25-38 kv
Global Pad Mounted Switchgear Market, by Application
- Industrial
- Residential
- Commercial
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Eaton Corp. Plc
- EEIC
- Electro Mechanical
- Elliott Industries Inc.
- G&W Electric
- Hitachi Energy Ltd
- Hubbell Inc.
- International Electrical Products Co.
- KDM Steel
- Korea International Trade Association
- Park Detroit
- R&B Switchgear Group
- S&C Electric Co.
- Scott Engineering
- Switchgear Power Systems LLC
- Trayer Switchgear
- Wesco International Inc
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global pad mounted switchgear market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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