Market Overview
In its research report, Market Research Future (MRFR), emphasizes that the pad-mounted switchgear market is anticipated to grow exponentially, securing a substantial market valuation of USD 7.13 Billion by 2025, and a healthy 5.23% CAGR over the review period.
Drivers and Restraints
Growing advances in the transmission distribution network and higher reliability of the underground distribution network are key factors driving the global pad-mounted switchgear market rise. Additionally, power network automation is also anticipated to push the use of Pad-Mounted Switchgear Market. In the Netherlands for example, the country's government is focusing on modernizing the distribution network to incorporate electric vehicle charging facilities throughout the country. Moreover, the Netherlands has a 100% underground electricity distribution network within the country. This will consequently would increase the demand for pad-mounted switchgear in the global pad-mounted switchgear market.
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Segmental Analysis
The Global Pad-Mounted Switchgear Market has been analyzed based on Voltage, Type, Application, and Standard.
- Based on type, the global market is segmented into solid dielectric, air-insulated, gas-insulated, and others. The solid dielectric segment is anticipated to grow with the highest CAGR during the review period as solid dielectric pad-mounted switchgear adopt epoxy as an insulation medium for replacing SF6, an crucial component of gas-insulated switchgear to reduce greenhouse gas emissions.
By application, the global pad-mounted switchgear market has been segmented into commercial, industrial, and residential. The industrial segment is anticipated to hold the largest share within the global pad-mounted switchgear market due to the demand for constant and uninterrupted power supply in the industrial segment.
On the basis of voltage, the global pad-mounted switchgear market is divided into up to 15 KV, 25–35 KV, 15–25 KV, and above 35 KV. The above 35 KV segment is anticipated to hold the largest market share during the review period due to the increasing development in the major transmission and distribution network. - Based on the standard, the global market is segmented into the Institute of Electrical and Electronics Engineers (IEEE), International Electrotechnical Commission (IEC), and other standards. The IEC segment is anticipated to hold the highest market share during the review period due to the widespread deployment of the IEC standard in the global market. The stringent regulations concerning the reliability and stability of the electrical network are accountable for the augmented adoption of the IEC standard for pad-mounted switchgear.
Regional Analysis
The geographical overview of the global Pad-Mounted Switchgear Market Size has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world.
In North America, the US is anticipated to be the largest market owing to the rising development in the transmission and distribution network. Additionally, the US is anticipated to grow at the highest growth during the review period. Such factors are predicted to fuel the growth of the pad-mounted switchgear market in North America during the review period.
In Asia-Pacific, China is anticipated to be the largest market owing to the rising demand for the automation of the power infrastructure and the increasing developments in the distribution sector in the country. Such factors are estimated to fuel the growth of the pad-mounted switchgear market in Asia-Pacific during the review period
Competitive Analysis
The major market players operating in the global pad-mounted switchgear market as identified by MRFR are
- Federal Pacific (US)
- ABB (Switzerland)
- Eaton (Ireland)
- Scott Engineering Inc. (US)
- TIEPCO (Saudi Arabia)
- SC Electric Company (US)
- AZZ Inc. (US)
- GW Electric (US)
- Powell Industries (US)
- ENTEC Electric Electronic (South Korea)
- Trayer Switchgear (US)
- KDM Steel (China)
- Switchgear Power Systems LLC (US)
- Park Detroit (US)
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
Continued…
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