Pad-Mounted Switchgear Market– Global Industry Size, Share, Trends, Opportunity, and Forecast, 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 2018-2028

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Summary

Report Description

 

Forecast Period

2024-2028

Market Size (2022)

USD 5.31 Billion

CAGR (2023-2028)

5.98%

Fastest Growing Segment

Industrial

Largest Market

North America

 

Global pad-mounted switchgear market is anticipated to grow at a steady pace in the forecast period. The increasing demand for electricity, due to economic expansion, industrialization, rising population, urbanization, and rural electrification projects, is driving the demand for pad-mounted switchgear across the globe. Pad-mounted switchgear is designed to fulfil the isolation and switchgear requirements of power distribution systems with pre-designed switching configurations. It is equipped with enclosures that increases the safety of fuses and switch components from environmental hazards and enhance the isolation of medium voltage circuits to limit the exposure of operating personnel. Increasing investment in distribution networks and a shift towards underground distribution lines are the major factors anticipated for the growth of the pad-mounted switchgear market.

The pad-mounted switchgear is one of the types of switchgear. The adoption of smart switchgear has been made possible by the region's increased focus on renewable energy solutions because of the rising energy demands across several end-user sectors. Additional drivers increasing demand for pad-mounted switchgear are advancements in smart grid technology and a greater emphasis on environmental preservation. The necessity for sophisticated monitoring systems and safe and secure control distribution systems is raising the switchgear's capabilities. Switchgear is being used by many businesses as a cost-effective alternative. Additionally, factors such as increased adoption of smart switchgear and hybrid switchgear in smart cities in emerging economies, installation cost subsidies and tax incentives, high reliability and efficiency, modular design with lower maintenance requirements, and performance enhancement through technological advancements are influencing the market. The need for high-voltage and ultra-high voltage switchgear in commercial and industrial settings is also developing rapidly, which has a favorable impact on market expansion and is anticipated to drive the global pad-mounted switchgear market over the anticipated time.

Globally Rising Demand for Energy Consumption

Globally, the demand for energy has gradually increased with an increased energy consumption. According to the International Energy Agency's (IEA) Electricity Market Report 2022, global electricity demand grew by 6% in 2021 after a slight decline in 2020. It was the largest percentage increase since the 2010 financial crisis and the largest annual earnings in absolute terms (almost 1500 TWh).

For instance,

  • Under the Asia-Pacific region in India, as of March 2022, the power consumption stood at 128.47 billion units, which was higher than 120.63 billion units in March 2021.
  • Saudi Arabia’s electrical energy consumption rose by 4.23% year-on-year (YoY) to 301,600-gigawatt hour (GWh) in 2021, compared to 289,330 GWh in 2020, data from the General Authority for Statistics (GASTAT) showed. Additionally, total electric energy production rose 3% YoY to about 358,640 GWh in 2021.
  • China Electricity Council, the power demand increased to 8,673 TWh in 2022 and rose about 3.6% from the previous year.

In addition, economic recovery, severe weather, and a colder-than-average winter led to an increase in global electricity demand in 2021. The demand was mainly driven by the industry sector, commercial, service, and residential sectors, significantly contributing to global electricity demand globe. Therefore, the market for pad-mounted switchgear is expected to rise in the upcoming years.

Investment in Renewable Energy

The global pad-mounted switchgear market is anticipated to improve due to the increasing investments in developing renewable energy sources, favorable government laws, and subsidies to support new technologies across the region. Countries including India, China, United States, Saudi Arabia, United Arab Emirates, Australia, and Japan among others are rising their investment in the renewable energy industry and focusing on clean energy & declining carbon emission by the end of 2050, as per the Paris Agreement.

For instance,

  • In March 2023, in Australia, the Clean Energy Council announced in its quarterly report that USD 2.8 billion was invested in renewable energy generation and storage projects in the fourth quarter of 2022. In addition, the Australian Labor government decided to invest USD 13 billion in the restoration and modernization of the national electricity grid. It aims to reduce carbon dioxide emissions by 43% by 2030 and reach zero by 2050.
  • In February 2023, India invested around USD 4.3 billion in clean energy including green electricity, green hydrogen, and build irrigation systems for farming & drinking water among others across the country. India aimed to develop huge solar projects in the Himalayas region of Ladakh and produce green hydrogen. Additionally, the union government has implemented various programs for green fuel, green energy, green farming, green mobility, green buildings, green equipment, and policies for efficient use of energy.
  • In November 2022, the United States and the United Arab Emirates signed USD 100 billion investment & planned to produce more than 100 gigawatts of clean energy. The UAE-US partnership to accelerate clean energy enables climate action while improving global energy security and affordability for the people of the UAE, the US, and the nations around the world.
  • In 2017, United Arab Emirates invested USD 163 billion in renewables projects across the country. The country’s energy mix by 2050 comprises 44% from renewables, 38% from gas, 12% from clean fossils, and six percent from nuclear energy. Additionally, the plan aimed to increase usage efficiency by 40% and increase clean-energy contributions to 50%.

Therefore, the use of switching equipment would increase as efforts to minimize carbon emissions and consumer knowledge of the advantages of renewable energy production grew. The construction of new T&D lines by bulk power generation facilities using onshore and offshore solar, wind, and hydro sources is anticipated to drive both the adoption of switchgear components and the demand for pad-mounted switchgear across the globe.

Challenges: Growing Competition from Un-organized Sectors

The unorganized sector of switchgear has grown steadily. With growth comes the need for continuous development through the integration of new technologies, which is necessary to ensure that safety strip standards are constantly raised so that only standardized switch products are available in the markets. The increasing competition from the unorganized sector and lack of standardization and design parameters have adversely affected the quality of products and the overall growth of the industry. The market studied also shows a growing trend of customization, which has hindered the development of the pad-mounted switchgear market. Poor quality products are the cause of many fires caused by short circuits. This trend has emerged mainly in developing countries like India. The main challenges limiting the growth of the switchgear market are budget reductions in project planning, increased pricing pressures due to high competition, and delays and uncertainties in the implementation of various power reforms. MNCs are struggling to hold their market share as profits decline while competition from the unorganized sector increases. For example, in India, increasing pressure and fluctuations in raw material prices as well as imports from other countries, hinder market growth in the upcoming years.

Recent Developments:

  • In April 2022, ABB collaborated with customers to develop the new ElastimoldTM Tru-BreakTM single-phase switchgear module and the new ElastimoldTM Veri-SpikeTM grounding-aid device, which helps reduce danger to utility personnel who maintain electrical equipment. The most recent medium voltage systems are interchangeable with ABB gear and can be used in construction, communications, industrial, utility, and original equipment manufacturer (OEM) applications.
  • In March 2022, the James City County (JCC) Board of Supervisors of Virginia, United States, unanimously voted to approve a new solar farm on Racefield Drive. The solar farm will be developed on 26 of the total 65.26 acres and connected to the existing utility line using on-site, pad-mounted switchgear.
  • In China's power grid, demand for HVDC transmission systems is expected to complement the integration of large-scale renewable energies located far from demand centers. This is likely to lead the high voltage switchgear market in the country. In December 2020, Hitachi ABB Power Grids launched a new high-voltage hybrid switchgear for offshore wind applications, specifically designed to enable the operation of the collector grid between wind towers at higher voltage levels. This solution was installed in China's first 66 kV offshore wind farm to optimize the energy landscape in the Yangtze Delta.
  • The governments of China and India have also switched to solar and wind energy to reduce pollution caused by climate change and maintain economic growth. According to the IEA, China added more than 92 gigawatts of capacity in the last quarter of 2020, more than triple the amount in the last quarter of 2019. This shift to renewable energy has encouraged the construction of more energy infrastructure, which should drive the pad-mounted switchgear market.

Market Segmentation

The global pad-mounted switchgear market is divided into type, application, voltage, and region. 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.

Market Players

Some of the major market players in the pad-mounted switchgear market are 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, and Federal Pacific among others.

Attribute

Details

Base Year

2022

Historic Data

2018– 2022

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2024-2028

Report Coverage

Revenue forecast, company share, growth factors, and trends

Segments Covered

Type

Application

Voltage

Region

Regional Scope

Asia-Pacific, North America, South America, Middle East & Africa and Europe

Country Scope

China, Japan, India, Australia, South Korea, United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel, Turkey, Saudi Arabia, UAE, Brazil, Argentina and Colombia

Key Companies Profiled

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

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Report Scope:

In this report, the global pad-mounted switchgear market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Pad-Mounted Switchgear Market, By Type:
    • Air Insulated
    • Gas Insulated
    • Others
  • Pad-Mounted Switchgear Market, By Application:
    • Industrial
    • Commercial
    • Residential
  • Pad-Mounted Switchgear Market, By Voltage:
    • Up to 15kV
    • 15-25 kV
    • 25-35kV
    • Above 35kV
  • Pad-Mounted Switchgear Market, By Region:
    • Asia-Pacific
      • China
      • Japan
      • India
      • Australia
      • South Korea
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East & Africa
      • Israel
      • Turkey
      • Saudi Arabia
      • UAE
    • Europe
      • United Kingdom
      • Germany
      • France
      • Spain
      • Italy

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global pad-mounted switchgear market.

Available Customizations:

TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global pad-mounted switchgear market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customer

5.    Global Pad-Mounted Switchgear Market Outlook

5.1.  Market Size & Forecast

5.1.1.       By Value

5.2.  Market Share & Forecast

5.2.1.       By Type (Air-Insulated, Gas-Insulated, Solid Dielectric, and Others)

5.2.2.       By Application (Industrial, Commercial, and Residential)

5.2.3.       By Voltage (Up to 15kV, 15-25 kV, 25-35kV and Above 35kV)

5.2.4.       By Region (Asia-Pacific, North America, South America, Middle East & Africa, and Europe)

5.3.  By Company (2022)

5.4.  Market Map

6.    Asia-Pacific Pad-Mounted Switchgear Systems Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Type

6.2.2.    By Application

6.2.3.    By Voltage

6.2.4.    By Country

6.3.  Asia-Pacific: Country Analysis

6.3.1.    China Pad-Mounted Switchgear Systems Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value 

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Type

6.3.1.2.2.           By Application

6.3.1.2.3.           By Voltage

6.3.2.    Japan Pad-Mounted Switchgear Systems Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value 

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Type

6.3.2.2.2.           By Application

6.3.2.2.3.           By Voltage

6.3.3.    South Korea Pad-Mounted Switchgear Systems Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value 

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Type

6.3.3.2.2.           By Application

6.3.3.2.3.           By Voltage

6.3.4.    India Pad-Mounted Switchgear Systems Market Outlook

6.3.4.1.        Market Size & Forecast

6.3.4.1.1.           By Value 

6.3.4.2.        Market Share & Forecast

6.3.4.2.1.           By Type

6.3.4.2.2.           By Application

6.3.4.2.3.           By Voltage

6.3.5.    Australia Pad-Mounted Switchgear Systems Market Outlook

6.3.5.1.        Market Size & Forecast

6.3.5.1.1.           By Value 

6.3.5.2.        Market Share & Forecast

6.3.5.2.1.           By Type

6.3.5.2.2.           By Application

6.3.5.2.3.           By Voltage

7.    North America Pad-Mounted Switchgear Systems Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Type

7.2.2.    By Application

7.2.3.    By Voltage

7.2.4.    By Country

7.3.  North America: Country Analysis

7.3.1.    United States Pad-Mounted Switchgear Systems Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Type

7.3.1.2.2.           By Application

7.3.1.2.3.           By Voltage

7.3.2.    Canada Pad-Mounted Switchgear Systems Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value 

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Type

7.3.2.2.2.           By Application

7.3.2.2.3.           By Voltage

7.3.3.    Mexico Pad-Mounted Switchgear Systems Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value 

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Type

7.3.3.2.2.           By Application

7.3.3.2.3.           By Voltage

8.    Europe Pad-Mounted Switchgear Systems Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Type

8.2.2.    By Application

8.2.3.    By Voltage

8.2.4.    By Country

8.3.  Europe: Country Analysis

8.3.1.    Germany Pad-Mounted Switchgear Systems Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Type

8.3.1.2.2.           By Application

8.3.1.2.3.           By Voltage

8.3.2.    United Kingdom Pad-Mounted Switchgear Systems Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value 

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Type

8.3.2.2.2.           By Application

8.3.2.2.3.           By Voltage

8.3.3.    France Pad-Mounted Switchgear Systems Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value 

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Type

8.3.3.2.2.           By Application

8.3.3.2.3.           By Voltage

8.3.4.    Italy Pad-Mounted Switchgear Systems Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value 

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Type

8.3.4.2.2.           By Application

8.3.4.2.3.           By Voltage

8.3.5.    Spain Pad-Mounted Switchgear Systems Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Type

8.3.5.2.2.           By Application

8.3.5.2.3.           By Voltage

9.    Middle East & Africa Pad-Mounted Switchgear Systems Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Type

9.2.2.    By Application

9.2.3.    By Voltage

9.2.4.    By Country

9.3.  Middle East & Africa: Country Analysis

9.3.1.    Israel Pad-Mounted Switchgear Systems Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value 

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Type

9.3.1.2.2.           By Application

9.3.1.2.3.           By Voltage

9.3.2.    Turkey Pad-Mounted Switchgear Systems Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value 

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Type

9.3.2.2.2.           By Application

9.3.2.2.3.           By Voltage

9.3.3.    UAE Pad-Mounted Switchgear Systems Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value 

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Type

9.3.3.2.2.           By Application

9.3.3.2.3.           By Voltage

9.3.4.    Saudi Arabia Pad-Mounted Switchgear Systems Market Outlook

9.3.4.1.        Market Size & Forecast

9.3.4.1.1.           By Value 

9.3.4.2.        Market Share & Forecast

9.3.4.2.1.           By Type

9.3.4.2.2.           By Application

9.3.4.2.3.           By Voltage

10. South America Pad-Mounted Switchgear Systems Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Type

10.2.2. By Application

10.2.3. By Voltage

10.2.4. By Country

10.3.             South America: Country Analysis

10.3.1. Brazil Pad-Mounted Switchgear Systems Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Type

10.3.1.2.2.         By Application

10.3.1.2.3.         By Voltage

10.3.2. Argentina Pad-Mounted Switchgear Systems Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Type

10.3.2.2.2.         By Application

10.3.2.2.3.         By Voltage

10.3.3. Colombia Pad-Mounted Switchgear Systems Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Type

10.3.3.2.2.         By Application

10.3.3.2.3.         By Voltage

11. Market Dynamics

11.1.   Drivers

11.2.   Challenges

12. Market Trends & Developments

13. Company Profiles

13.1.   ABB Ltd

13.1.1.    Business Overview

13.1.2.    Key Revenue and Financials (If Available)

13.1.3.    Recent Developments

13.1.4.    Key Personnel

13.1.5.    Key Product/Services

13.2.   Eaton Corporation PLC

13.2.1.    Business Overview

13.2.2.    Key Revenue and Financials (If Available)

13.2.3.    Recent Developments

13.2.4.    Key Personnel

13.2.5.    Key Product/Services

13.3.   S&C Electric Company

13.3.1.    Business Overview

13.3.2.    Key Revenue and Financials (If Available)

13.3.3.    Recent Developments

13.3.4.    Key Personnel

13.3.5.    Key Product/Service

13.4.   G&W Electric Co

13.4.1.    Business Overview

13.4.2.    Key Revenue and Financials (If Available)

13.4.3.    Recent Developments

13.4.4.    Key Personnel

13.4.5.    Key Product/Service

13.5.   Hubbell Power Systems Inc

13.5.1.    Business Overview

13.5.2.    Key Revenue and Financials (If Available)

13.5.3.    Recent Developments

13.5.4.    Key Personnel

13.5.5.    Key Product/Services

13.6.   The International Electrical Products Co

13.6.1.    Business Overview

13.6.2.    Key Revenue and Financials (If Available)

13.6.3.    Recent Developments

13.6.4.    Key Personnel

13.6.5.    Key Product/Services

13.7.   Powell Industries Inc

13.7.1.    Business Overview

13.7.2.    Key Revenue and Financials (If Available)

13.7.3.    Recent Developments

13.7.4.    Key Personnel

13.7.5.    Key Product/Services

13.8.   Electric and Electronic Co. Ltd

13.8.1.    Business Overview

13.8.2.    Key Revenue and Financials (If Available)

13.8.3.    Recent Developments

13.8.4.    Key Personnel

13.8.5.    Key Product/Services

13.9.   Switchgear Power Systems, LLC

13.9.1.    Business Overview

13.9.2.    Key Revenue and Financials (If Available)

13.9.3.    Recent Developments

13.9.4.    Key Personnel

13.9.5.    Key Product/Services

13.10.Federal Pacific

13.10.1. Business Overview

13.10.2. Key Revenue and Financials (If Available)

13.10.3. Recent Developments

13.10.4. Key Personnel

13.10.5. Key Product/Services

14. Strategic Recommendations

15 .About Us & Disclaimer

Figures and Tables

Frequently asked questions

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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, and Switchgear Power Systems, LLC among others are the major market players in the pad-mounted switchgear market.

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The gas-insulated type of 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.

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Increasing development in transmission & distribution infrastructure and rising demand for electricity worldwide are the major drivers of the global pad-mounted switchgear market.

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High installation costs and lack of skilled workforce are the major challenges faced by the pad-mounted switchgear market.

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