Pad-Mounted Switchgear Insights by Leading Companies, Future Growth, Revenue and Demand Forecast to 2024


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Sep 22, 2021, 01:25 EST


Shibuya-ku, Tokyo, Japan, Japan, Sep 22, 2021, 01:25 /Comserve / -- The global pad-mounted switchgear market is projected to reach USD 7.2 billion by 2024 from an estimated market size of USD 5.5 billion in 2019, at a CAGR of 5.4% during the forecast period.

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment. 

The global pad-mounted switchgear market is projected to reach USD 7.2 billion by 2024 from an estimated market size of USD 5.5 billion in 2019, at a CAGR of 5.4% during the forecast period. The growing investments in underground distribution to increase the reliability and stability of supply in developed countries are expected to drive the demand for pad-mounted switchgears. The functional and aesthetic advantages of underground distribution, along with improved reliability and decreased downtime, would further aid the growth of this market. The high installation cost of pad-mounted swtichgears is a restraint for the growth of the pad-mounted switchgear market.

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The IEC segment is expected to dominate the pad-mounted switchgear market in 2019, owing to the increasing installation of pad-mounted switchgears in various countries across the globe. The widespread adoption of IEC standard equipment in Europe is responsible for the dominance of the IEC standard in the pad-mounted switchgear market. Europe is one of the largest markets for pad-mounted switchgears. The increasing adoption of IEC as a standard for all the pad-mount switchgears installed in the region is leading to the market growth of the IEC standard pad-mounted switchgears.

The solid dielectric segment is estimated to grow at the fastest rate of all segments during the forecast period. This growth can be attributed to the restrictions on sulfur hexafluoride (SF6). SF6 has the worst global warming potential of all gases and is largely emitted from the power sector. Increased restrictions on SF6 is expected to slow down the growth of gas insulated switchgears and drive the market for SF6 alternatives. Solid dielectric is a better alternative to SF6, as the insulating medium is epoxy, which is inert and environmentally safe.

Europe is currently the largest pad-mounted switchgear market, followed by North America and Asia Pacific. Many utilities in Europe adopt underground distribution, given the advantages of underground distribution, especially in densely populated areas and hazardous locations. Many countries in Europe, such as the Netherlands, have a 100% underground distribution system. Europe is expected to be the biggest market for pad-mounted switchgears during the forecast period.

Fill This Form and get the Sample Copy of This Report: https://www.sdki.jp/sample-request-62093
The Final Report will cover the impact analysis of COVID-19 on this industry: Pad-Mounted Switchgear Insights by Leading Companies, Future Growth, Revenue and Demand Forecast to 2024

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier I: 60%, Tier II: 20%, and Tier III: 20%
By Designation: C-Level: 55%, Director Level: 30%, and Others: 15%

Research Coverage:
The report defines, describes, and forecasts the global pad-mounted switchgear market by standard, type, voltage, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include the analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the pad-mounted switchgear market.

TABLE OF CONTENTS

1 INTRODUCTION 18
1.1 OBJECTIVES OF THE STUDY 18
1.2 DEFINITION 18
1.3 MARKET SCOPE 19
1.3.1 MARKETS COVERED 19
1.3.2 REGIONAL SCOPE 20
1.3.3 YEARS CONSIDERED FOR THE STUDY 21
1.4 CURRENCY 21
1.5 LIMITATIONS 21
1.6 STAKEHOLDERS 22

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