Home » Electronics & Semiconductors, Energy & Environment, Manufacturing & Industry, Marketing & Sales, World » Global Pad Mounted Switchgear Market is Expected to be Valued at USD 6.5 Billion by 2024 | Industry Report by Hexa Research
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The “pad mounted switchgear market” is expected to be driven by factors such as increasing transmission and distribution investment and high efficient underground distribution systems. The underground distribution system is growing rapidly owing to shift change in trend.

The global pad mounted switchgear market is expected to be valued at USD 6.5 billion over the forecast period and it is anticipated to grow at an approximate CAGR of over 9% over the forecast period of 2016 to 2024.

The market is expected to be driven by factors such as increasing transmission and distribution investment and high efficient underground distribution systems. The underground distribution system is growing rapidly owing to shift change in trend.

Uninterrupted and continuous power for optimum operation is also expected to spur the market growth over the next eight years.

Restraint in the market is the higher cost associated with the pad mounted switchgear. Growing trend towards the underground transmission in developing is expected to offer lucrative growth opportunities to the pad mounted switchgear market.

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Interchangeability with the existing transmission systems and aging infrastructure is one of the major challenges in the pad mounted switchgear market. Raw materials used for power generation plays a major role in switchgear durability and efficiency.

The market is segmented on the basis of product types such as air insulated, gas insulated, oil insulated, hybrid insulated and vacuum interrupters.

Air-insulated switchgear uses compressed air to insulate conductors and gas insulated switchgear use pressurized SF6 gas to insulate conductors. Air insulated switch gears are economically viable owing to its low cost. Gas insulated switchgear is cost effective and improves the quality of voltage.

Hybrid switchgear is the combination of both air insulated and gas insulated technologies. Hybrid switchgear is designed based on the facts such as maintenance facility and space requirement.  Vacuum interrupter is expected to drive the market over the next eight year owing to low maintenance and high switching ratings

This market can address end users, pad mounted switchgear manufacturers, EPC contractors, utility companies and suppliers

Components used in the substation are the current transformer, voltage transformer, circuit breaker, electrical bus bars, electrical isolators, earth switches and lightning or surge arrestor. Pad mounted switch gear can be operated manually or through automation techniques such as SCADA and PLC.   

The pad mounted switchgear has been segmented on the basis of voltage such as low, medium and high voltage switch gears.

0-15kV switch gears are low voltage switchgear, air insulated switch gears are used as low voltage switch gears. Low voltage switch gears are used to serve the wide range of application in industries such as in residential and commercial buildings, rail equipment manufacturers, utilities and renewable energy suppliers.

16-40kV switch gears are medium voltage switch gears they are having a wide scope of application for power distribution in commercial buildings and industrial plants.

Above 40 kV are high voltage switch gears and they are having a wide scope of application in power plants and renewable energy power plants. High voltage switch gears are expected to have significant growth owing to long range power transmission.

Commercial switch gears are expected to have significant growth owing to end-use industries. The industrial application needs reliable, stable, non-fluctuating and efficient power supply. Residential applications include construction and civil industry such as residential complexes, offices, hotels and shopping malls.

Europe is expected to have the largest market share for pad mounted switchgear. The market is driven by replacement of existing transmission system, improving the reliability of the grid and switching from overhead line to underground transmission systems.

U.K and France are also expected to have steady market growth and it is expected to grow at approximate CAGR of over 8.5 % over the forecast period. North America is also expected to have significant growth over the forecast period owing to increasing demand for grid stability and reliability.

Asia pacific is expected to have moderate growth in this pad mounted switchgear market owing to high initial cost for the replacement of existing transmission system. Huge transmission and distribution network expansion and industrialization projects are expected to spur the market growth over the next eight years.   

Some of the leading players in the market include G&W Electric, Eaton Corporation PLC, Hubbel Incorporated, S&C Electric Company and Federal Pacific.

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