Pad-Mounted Switchgear Market Overview
Pad-mounted
switchgear is a device used for switching, isolation, and protection of
underground distribution systems. Pad mount switchgear can be employed either
through distribution automation packages or through manually operations.
Market
Research Future (MRFR) has conducted a detailed study on the pad mounted
switchgear market. The study states that the pad mounted switchgear market is likely
to attain USD 9.01 billion by 2024 and is estimated to develop at 10.2% CAGR during
the forecast period 2019 to 2024. The major drivers of pad mounted switchgear
market are increasing power generation capacity additions, surged consistency
of underground distribution systems, and growing investments in distribution
sector & transmission.
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Industry
Highlights
Pad
mount switchgear comes with meddled resistant enclosures that offer either front/back
access, front access, or front/back/side access to cable connections and operating
apparatus. Such enclosures are built of mild steel with distinct galvanic
finishing with the objective of maximizing corrosion resistance. Additionally,
they are detachable in field in case of replacement. The major challenges of pad-mounted
switchgear market are corrosion, interchangeability with existing foundations,
and animal intrusion. Pad-mounted switchgears are obtainable in air, solid, or gas
dielectric insulation.
Worldwide
transmission and distribution (T&D) investment is anticipated to generate
USD 351 billion per year, up to 2026, owing to developing power demand, aging
power infrastructure, and addition of new power generation capacity. India and China
will be the economies with the largest T&D investments throughout the
decade. Underground systems are a dependable way of power supply to all the final
users. Such aspects are going to propel the pad mounted switchgear market to a
considerable extent. However, the forces such as high cost related with
pad-mounted switches and operator safety might restrict the market. The trend
of setting electrical lines underground in emerging economies is projected to
be a lucrative opportunity to the market.
Global Pad-Mounted
Switchgear Market Segmentation
Pad-mounted switchgear market is segmented based on
voltage, end-use, and type.
Based on voltage, the market is categorized as
up-to-15 kV, 16 kV-25 kV, and above 25 kV. Under the voltage segment, 16 kV-25
kV is likely to hold the major share on account of their usage in medium
voltage secondary dispersal.
Based on end-use, the market is segmented into
commercial, residential, and industrial. Industrial segment is likely to rule
the global pad mounted switchgear market owing to the increased need for
reliable power supply for incessant operations. Furthermore, the increasing
investments in electrical networks are estimated to fuel the market growth.
Based on type, the market is segmented as gas
insulated, air insulated, and others. Among these, air insulated segment is
likely to rule the market as these switchgears are fit and cost-effective for
deployment in non-premium settings.
Pad-Mounted Switchgear Regional Industry Analysis
According to region, pad mounted switchgear market
is segmented into North America, Asia Pacific, the Middle East & Africa,
South America, and Europe.
Europe is anticipated to represent the primary
share over the forecast period owing to the growing investments in electrical
infrastructure upgrade and the developing renewable industry. UK and Germany
are the key economies propelling the Europe pad mounted switchgear market on
account of the growth in investments in T&D. Asia-Pacific market is likely to
expand at the fastest rate over the review period due to the introduction of
new power generation capacities in the economies such as China, India,
Malaysia, Indonesia, Thailand, and the Philippines.
Prominent Players
Global pad mounted
switchgear market is dominated by prominent players like General Electric (US),
ABB Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France),
Larsen & Toubro Limited (India), Eaton Corporation, PLC (Ireland), Federal
Pacific (US), G&W Electric (US), Crompton Greaves, Ltd. (India), Toshiba
Corporation (Japan), C&S Electric (India), Ormazabal (Brazil), TEPCO Group
(Japan), Alfanar Group (Saudi Arabia), and Lucy Electric (UK).
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