Pad-Mounted Switchgear Market Research Report - Global Forecast till 2030

Pad-Mounted Switchgear Market Research Report: Information by Type (Air-Insulated, Gas-Insulated, Solid Dielectric, and others), Application (Industrial, Commercial and Residential), Voltage (Up to 15 kV, 15-25 KV, 25-35 KV and Above 35 kV), Standard [International Electrotechnical Commission (IEC), Institute of Electrical and Electronics Engineers (IEEE) and Other Standards] and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2030

ID: MRFR/E&P/6383-HCR | November 2022 | Region: Global | 111 Pages         

Pad-Mounted Switchgear Market

Pad-Mounted Switchgear Market size is projected to reach USD 7.13 Billion by 2025, with 5.00% CAGR between 2021 and 2027

Segmentation

By Type Air-Insulated Gas-Insulated Solid Dielectric others
By Application Industrial Commercial Residential
By Voltage Up to 15 kV 15-25 KV 25-35 KV Above 35 kV
By Standard International Electrotechnical Commission (IEC) Institute of Electrical Electronics Engineers (IEEE)

Key Players

  • Federal Pacific (US)
  • ABB (Switzerland)
  • Eaton (Ireland)
  • TIEPCO (Saudi Arabia)
  • S&C Electric Company (US)
  • G&W Electric (US)
  • AZZ Inc. (US)
  • Powell Industries (US)
  • Trayer Switchgear (US)
  • ENTEC Electric & Electronic (South Korea)
  • KDM Steel (China)
  • Switchgear Power Systems LLC (US)
  • Scott Engineering Inc. (US)
  • Park Detroit (US)

Drivers

  • Increasing developments in the transmission & distribution network
  • Higher reliability of the underground distribution network
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Pad-mounted Switchgear Market Scenario


Pad-Mounted Switchgear Market to grow at 5.00% CAGR between 2022 and 2030 with valuation of USD 7.13 Billion. Higher reliability of the underground distribution network is expected to drive global market.


Due to rising improvements in the transmission and distribution network, high reliability of the underground distribution network, and automation of power infrastructure, the worldwide pad-mounted switchgear market is predicted to grow at a rapid rate during the forecast period. Pad-Mounted switchgear is used in electrical distribution systems to provide switching and isolating functions. The pad-mounted switchgear is designed to meet industry standards such as IEC and IEEE and is installed according to the distribution network's infrastructure requirements. Pad-mounted switchgear is designed to safeguard and regulate electrical power systems. Increased advances in the transmission and distribution network, as well as greater reliability of the subterranean distribution network, are driving the global pad-mounted switchgear market forward. Pad-mounted switchgear is also likely to be driven by the automation of power infrastructure.


Increased investments in distribution infrastructure to satisfy rising energy consumption, as well as investments in underground distribution due to functional and aesthetic benefits, are boosting the industry. Underground cables with pad-mounted switchgear are utilized for high-priority loads such as commercial and industrial loads that demand great reliability. The government of the Netherlands is concentrating on modernizing the distribution network to include electric vehicle charging stations across the country. Furthermore, the Netherlands has a completely underground electricity distribution network.


The key factors driving the growth of the global pad-mounted switchgear market include increasing developments in the transmission & distribution network and higher reliability of the underground distribution network. Moreover, the automation of power infrastructure is also expected to drive the use of pad-mounted switchgear. For instance, in the Netherlands, the government of the country is focusing on the modernization of the distribution network for the integration of electric vehicle charging facilities within the country. Moreover, the Netherlands has a 100% underground electricity distribution network within the country. This, in turn, would increase the demand for pad-mounted switchgear in the global market.


Key Players


The Key Players operating in the Global Pad-Mounted Switchgear Market are Federal Pacific (US), ABB (Switzerland), Eaton (Ireland), TIEPCO (Saudi Arabia), S&C Electric Company (US), G&W Electric (US), AZZ Inc. (US), Powell Industries (US), Trayer Switchgear (US), ENTEC Electric & Electronic (South Korea), KDM Steel (China), Switchgear Power Systems LLC (US), Scott Engineering, Inc. (US), and Park Detroit (US).


Industry News



  • Eaton bought an 82.27 percent stake in Ulusoy Elektrik Imalat Taahhut ve Ticaret A.S., a leading switchgear manufacturer in Turkey, in January 2019. This development has aided the company's position in the global market for pad-mounted switchgear.

  • Hubbell (US) is another significant pad-mounted switchgear manufacturer. The company's main business is designing, manufacturing, and selling high-quality electrical and electronic devices for a variety of home and nonresidential uses. In North America, the corporation has a significant presence. The United States accounts for more than 90% of the company's sales.

  • Many major players such as Eaton, ABB, Park Detroit, and Federal Pacific are actively focusing on product development, mergers and acquisitions, and contracts and agreements for enhancing their product portfolio.  For instance, in January 2019, Eaton acquired an 82.27 percent controlling interest in Ulusoy Elektrik Imalat Taahhut ve Ticaret A.S., a leading switchgear manufacturing company in Turkey. This development has helped the company enhance its presence in the global pad-mounted switchgear market. Such developments initiated by the major market players are likely to boost the global pad-mounted switchgear market during the forecast period.     


The Global Pad-Mounted Switchgear Market has been segmented based on Type, Application, Voltage, and Standard. Based on type, the global market is segmented into air-insulated, gas-insulated, solid dielectric, and others. The solid dielectric segment is expected to grow with the highest CAGR during the forecast period as solid dielectric pad-mounted switchgear use epoxy as an insulation medium for replacing SF6, an essential component of gas-insulated switchgear to reduce greenhouse gas emissions. By application, the global pad-mounted switchgear industry has been segmented into industrial, commercial, and residential. The industrial segment is expected to hold the largest share within the global market owing to the demand for continuous and uninterrupted power supply in the industrial sector. On the basis of voltage, the global pad-mounted switchgear market is segmented into up to 15 KV, 15–25 KV, 25–35 KV, and above 35 KV.  The above 35 KV segment is expected to hold the largest market share during the forecast period owing to the increasing development in the high transmission and distribution network. Based on the standard, the global market is segmented into the International Electrotechnical Commission (IEC), Institute of Electrical and Electronics Engineers (IEEE), and other standards. The IEC segment is expected to hold the highest market share during the forecast period due to the widespread adoption of the IEC standard in the global market. The stringent regulations regarding the reliability and stability of the electrical network are responsible for the increased adoption of the IEC standard for pad-mounted switchgear.


Market Segmentation  

Pad-Mounted Switchgear Market


The global pad-mounted switchgear market is expected to witness a high growth rate during the forecast period owing to the increasing developments in the transmission & distribution network, high reliability of the underground distribution network, and automation of power infrastructure.


Based on region, the global pad-mounted switchgear market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Europe holds the largest market share due to the rapid developments in the distribution network, mainly in the underground distribution network. It is expected that Europe would be the fastest-growing region in the market during the forecast period, mainly due to the growing energy requirements and urbanization. All these factors are expected to boost the demand for pad-mounted switchgear in the region.


Intended Audience



  • Manufacturers and suppliers of pad-mounted switchgears

  • Service providers of pad-mounted switchgears

  • Energy and environment associations

  • Government and research organizations

  • State and national regulatory authorities

  • Investment banks

  • Manufacturers’ associations

  • Institutional investors

  • Environmental research institutes



Report Scope:

Report Attribute/Metric Details
  Market Size

  • 2025: USD 7.13 Billion
  • 2030 : Significant value
  •   CAGR   5% CAGR (2022-2030)
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Type, Application, Voltage, Standard
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Federal Pacific (US), ABB (Switzerland), Eaton (Ireland), TIEPCO (Saudi Arabia), S&C Electric Company (US), G&W Electric (US), AZZ Inc. (US), Powell Industries (US), Trayer Switchgear (US), ENTEC Electric & Electronic (South Korea), KDM Steel (China), Switchgear Power Systems LLC (US), Scott Engineering, Inc. (US), and Park Detroit (US)
      Key Market Opportunities

  • Government of the country is focusing on the modernization of the distribution network
  • Netherlands has a 100% underground electricity distribution network
  •   Key Market Drivers

  • Increasing developments in the transmission & distribution network
  • Higher reliability of the underground distribution network


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    Frequently Asked Questions (FAQ) :

    The market is expected to achieve a growth rate of 5% from 2022 to 2030.

    The market value by 2025 is estimated to be USD 7.13 Billion.

    ENTEC Electric & Electronic (South Korea), Eaton (Ireland), Trayer Switchgear (US), KDM Steel (China), G&W Electric (US), Federal Pacific (US), S&C Electric Company (US), Switchgear Power Systems LLC (US), Park Detroit (US), ABB (Switzerland), Scott Engineering, Inc. (US), AZZ Inc. (US), TIEPCO (Saudi Arabia), Powell Industries (US), are the notable companies listed in the report.

    Rapidly increasing need for energy and high rate of urbanization as well as industrialization add to Europe’s potential to achieve the fastest growth rate in the coming years.

    The standard-wise market segments highlighted in the report include Institute of Electrical and Electronics Engineers (IEEE), International Electrotechnical Commission (IEC), and others.