Pad Mounted Switchgear Market to Grow with a CAGR of 5.51% through 2028
Increasing demand for reliable and efficient power
distribution systems are likely to drive the market in the forecast period.
According to TechSci Research report, “Pad Mounted
Switchgear Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Pad Mounted Switchgear
Market stood at USD 9.71 billion in 2022 and is anticipated to grow with a CAGR
of 5.51% from 2023-2028. One of the prominent drivers of the global Pad Mounted
Switchgear market is the increasing demand for the integration of renewable
energy sources into the electrical grid. Governments and organizations
worldwide are embracing renewable energy technologies, such as solar and wind
power, to reduce greenhouse gas emissions and transition toward cleaner, more
sustainable energy generation. Pad Mounted Switchgear is instrumental in
connecting renewable energy sources to the grid. These switchgear units enable
safe and efficient interconnection, distribution, and monitoring of power
generated from renewable sources. They play a crucial role in managing the
intermittent nature of renewable energy and ensuring its seamless integration
into the grid. As the global shift towards renewable energy sources
accelerates, the demand for Pad Mounted Switchgear is expected to surge.
Utilities, independent power producers, and renewable energy developers are
actively seeking reliable switchgear solutions to support their renewable
energy projects. This driver is set to contribute significantly to the
continued growth of the Pad Mounted Switchgear market. Grid modernization initiatives, undertaken by governments and
utilities worldwide, are a key driver propelling the global Pad Mounted
Switchgear market. Modernizing the electrical grid is essential to enhance grid
reliability, accommodate distributed energy resources (DERs), and enable smart
grid functionalities. Pad Mounted Switchgear plays a pivotal role in grid
modernization efforts by facilitating advanced automation, monitoring, and
control capabilities. These switchgear units are integral to distribution
automation systems, which help utilities reduce downtime, improve fault
detection, and enhance grid resilience. Governments and utilities are making
substantial investments in grid modernization projects to meet evolving energy
demands and regulatory requirements. These initiatives often involve the
upgrade of switchgear and distribution systems to improve fault tolerance,
self-healing capabilities, and overall grid performance. The global shift
towards a smarter, more efficient electrical grid is driving the adoption of
advanced Pad Mounted Switchgear solutions. Utilities are increasingly
recognizing the benefits of modernizing their distribution networks, and this
driver is expected to continue fueling the growth of the Pad Mounted Switchgear
market.
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The Global Pad Mounted Switchgear Market is segmented
into type, voltage rating, application and region. Based on type, the
Gas-Insulated segment emerged as the dominant player in the global market for
Pad Mounted Switchgear in 2022.
Gas-insulated pad-mounted switchgear (GIS) is a specialized type of
switchgear that offers distinct advantages for specific applications within the
global Pad Mounted Switchgear market. While traditional air-insulated
switchgear (AIS) is prevalent, GIS is gaining traction due to its unique
features and capabilities. One of the primary advantages of GIS is its compact
and space-saving design. Unlike AIS, which relies on air as the insulating
medium, GIS employs sulfur hexafluoride (SF6) gas to insulate and quench arcs.
This allows GIS units to be much smaller, making them ideal for applications
with limited space, such as urban and densely populated areas. The use of SF6
gas as an insulating medium contributes to enhanced safety. SF6 is
non-flammable and chemically stable, reducing the risk of fire or explosions in
GIS installations. Additionally, GIS units are enclosed in robust, sealed
housings that protect against environmental factors and unauthorized access.
GIS is known for its high reliability and durability.
Based on voltage rating, The 25–38 kV segment is
projected to experience rapid growth during the forecast period. The 25–38 kV
voltage range is a critical segment within the global Pad Mounted Switchgear
market. This voltage range is commonly used in medium-voltage distribution
systems, serving as a bridge between high-voltage transmission and low-voltage
distribution. Here are key aspects of its significance. For instance, The 25–38
kV range is pivotal for medium-voltage electrical distribution, which includes
applications such as supplying power to industrial facilities, commercial
buildings, residential neighborhoods, and critical infrastructure. This segment
ensures efficient power distribution over relatively long distances. In urban
and suburban areas, the 25–38 kV range is frequently employed for underground
distribution systems. Pad Mounted Switchgear rated for this voltage range is
compact and designed for use in densely populated or confined spaces, making it
suitable for urban environments. Within this voltage range, Pad Mounted
Switchgear serves multiple applications, including load distribution, fault
protection, and switching. It is used in various sectors, including utilities,
industrial plants, data centers, healthcare facilities, and educational
institutions. Medium-voltage systems are critical for maintaining a continuous
power supply to end-users. The 25–38 kV segment provides the reliability
required for critical applications, reducing downtime and ensuring
uninterrupted operations.
Major companies operating in Global Pad Mounted
Switchgear Market are:
- ABB Ltd
- Schneider Electric SE
- Siemens AG
- Eaton Corporation plc
- General Electric Company
- Mitsubishi Electric Corporation,
- Legrand
- Omron Corporation
- Phoenix Contact
- Schweitzer Engineering Laboratories
Inc
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“The Global Pad Mounted Switchgear market is expected
to rise in the upcoming years and register a significant CAGR during the
forecast period. The growth of the market is driven by the increasing demand
for reliable and efficient power distribution systems. Pad-mounted switchgear
is a type of switchgear that is installed on the ground, making it a more
convenient and cost-effective option than traditional switchgear that is
installed on poles. The Asia Pacific region is the fastest growing market for
pad-mounted switchgear and is expected to continue to grow during the forecast
period. This is due to the increasing demand for pad-mounted switchgear in
China, India, and other emerging economies. Therefore the market of Pad Mounted
Switchgear is expected to boost in the upcoming years..,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Pad Mounted Switchgear Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, Segmented
By Type (Air-Insulated, Gas-Insulated, Solid Dielectric and Others), By Voltage
Rating (Up to 15 kV, 15–25 kV and 25–38 kV), By Application (Residential,
Industrial and Commercial), By Region, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Pad Mounted Switchgear Market and
provides statistics & information on market size, structure and future
market growth. The report intends 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 in Global Pad Mounted Switchgear Market.
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