The Pad-Mounted Switchgear Market was worth USD 6.1 billion in 2021 and is predictable to reach USD 8.7 billion in 2029 and the market is estimated to expand at a CAGR of 4.5%.
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The factors driving the growth of Pad-Mounted Switchgear Market includes emerging need to upgrade the ageing power infrastructure, increasing consumption of electricity around the world, growing demand for underground distribution systems and strict regulation imposed by Governments regarding carbon emissions. Moreover, integration of advanced technologies with pad-mounted switchgear, increasing application of switch gear systems in production and healthcare facilities, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Pad-Mounted Switchgear Market share. In addition, the increasing investments by leading players on research and development, growing emphasis on utilizing renewable sources of energy, improvements in the living standards and growing population growth rates, are further contributing towards the market growth.
However, the Pad-Mounted Switchgear Market size is hindered due to high installation cost of pad-mounted switchgear systems.
The leading players operating in the market are S&C Electric Co, ABB Ltd, Powell, Eaton Corporation Plc, Hubbell Inc, G&W Electric Co., Electronic & Electrical Industries Corporation (EEIC), KDM Steel, Federal Pacific Equipment Inc, and Switchgear Power Systems LLC among others.
Based on Type, the Solid Dielectric segment is predicted to grow at a higher CARG during the forecast period
Strict regulations imposed by governing bodies in the use of SF6, is pushing the demand for solid dielectric Pad-Mounted Switchgear.
Based on Application, the Industrial is projected to expand at a remarkable CAGR over the forecast period
As per the Pad-Mounted Switchgear Market Trends, growing demand for reliable power supply and increasing adoption of underground distribution systems, are propelling growth of the segment.
Based on Region, the European region is anticipated to capture the largest market share during the forecast period
Increasing deployment of underground distribution systems, growing focus on upgrading the ageing infrastructure, rising consumption of electricity across industries, rapid industrialization, improved living standards and high per capita income, are some of the important factors augmenting the market growth in European region.
Market Segmentation
Segmentation by Standard
Segmentation by Type
- Air Insulated
- Gas Insulated
- Solid Dielectric
- Others
Segmentation by Voltage
- Up to 15 kV
- 15–25 kV
- 25–38 kV
Segmentation by Application
- Industrial
- Commercial
- Residential
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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