Pad-Mounted Switchgear Market Growth Linked to Electricity Infrastructure

The growing development of transmission and distribution infrastructure, along with a rising global demand for electricity, is expected to drive the demand for the global pad-mounted switchgear market during the forecast period.

According to TechSci Research report, “Pad-Mounted Switchgear Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the global pad-mounted switchgear market is expected to rise in the upcoming years owing to the increasing demand for electricity in the commercial & residential sectors, governments rising investment in renewable energy, and growing demands for clean energy.

The increasing development in transmission & distribution infrastructure and growing investments to establish a new network drives the demand for pad-mounted switchgear. The high reliability of underground distribution systems and the necessity to upgrade the ageing power infrastructure also propels the demand for the pad-mounted switchgear market.

Moreover, significant investments in implementing distributed automation to achieve reliability and grid stability accelerate the demand for the pad-mounted switchgear market. Presently, there is a shift in the trend for adopting underground distribution systems from countries and stringent government environmental laws imposed on the use of SF6 from developed. Also, developing countries are likely to hold promising opportunities for the market growth of pad-mounted switchgear across the globe.

The global pad-mounted switchgear market might grow in the upcoming years as expanding infrastructure accelerates across the globe. The increasing replacement of renewable power generation with convection is also contributing to the growth of the switchgear market across the globe. Another factor affecting market growth is the increasing investments of the country's government in the construction of electricity infrastructure.

According to the IEA's 2020 Renewable Energy Report, governments announced more than USD 470 billion in energy-related stimulus packages for production and consumption in October 2020. The stimulus is provided in the form of loans, grants, refunds, and tax credits or exemptions. Most of these measures are primarily aimed at providing relief to public and private businesses and consumers affected by the economic downturn caused by the COVID-19 pandemic. Hence, due to this government plan, the global pad-mounted switchgear market can also be affected during the forecast period.

Furthermore, the high installation cost and skilled workforce are the major restraints of the global pad-mounted switchgear market growth during the forecast period.

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The global pad-mounted switchgear market is divided into type, application, voltage. Based on type, the market is segmented into air-insulated, gas-insulated, solid dielectric, and others. Based on application, the market is segmented into industrial, commercial, and residential. Based on voltage, the market is segmented into up to 15kV, 15-25 kV, 25-35kV, and above 35kV. Based on regional analysis, the market is segmented into Asia-Pacific, North America, South America, Middle East & Africa, and Europe.

Based on type, the gas-insulated type switchgear held the largest market share in 2022. They use SF6 gas for insulation. SF6 has superior dielectric properties when used in phase-to-phase insulation applications at moderate pressure. In gas-insulated pad-mounted switchgear solutions, circuit breaker interrupters, switches and fuses are encapsulated with SF6 gas inside grounded metal enclosures. Additionally, due to their compact, fully enclosed, and space-saving design SF6 gas-insulated switchgear solutions are generally used in high-voltage underground distribution networks.

Based on applications, the industrial segment held the largest market share in 2022. The industrial sectors are divided into manufacturing and process industries for instance, cement, automotive, food & beverage, steel, mining, oil & gas, and chemical & pharmaceutical. These industries require a continuous supply of electricity and reliable power backup. The industrial load is connected to the distribution network at high voltage due to their bulk power requirement. Additionally, industries install separate substations for supplying power to their facilities.

Key market players in the global pad-mounted switchgear market include:

ABB Ltd

Eaton Corporation PLC

S&C Electric Company

G&W Electric Co

Hubbell Power Systems Inc

The International Electrical Products Co

Powell Industries Inc

Electric and Electronic Co. Ltd

Switchgear Power Systems LLC

Federal Pacific

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“The global pad-mounted switchgear market is expected to rise in the upcoming years and might register a strong CAGR during 2024-2028F, owing to rising investment in renewable energy, rapid urbanization & industrialization, growing demand for electricity from the commercial & residential sectors, governments collaboration with private & public partners to enhance, strengthen, and transformed energy infrastructure. The country’s increased usage of switchgear equipment is a result of the increased focus on upgrading the current grid infrastructure and investing in clean energy to reduce the effect of greenhouse gases.

For instance, in North America, Canada’s government invested around USD 3 million in renewable energy capacity-building programs for indigenous communities in British Columbia in December 2022. Therefore, above mentioned factors and investment are likely to propel the global pad-mounted switchgear market is the upcoming years.” said Mr Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Pad-Mounted Switchgear Market– Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Air-Insulated, Gas-Insulated, Solid Dielectric, and Others), By Application (Industrial, Commercial, and Residential), By Voltage (Up to 15kV, 15-25 kV, 25-35kV, and Above 35kV), By Region and Competition ”, has evaluated the future growth potential of global pad-mounted switchgear market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the global pad-mounted switchgear market.

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