Pad-mounted Switchgear Market Analysis

Global Pad-Mounted Switchgear Market Overview:

Pad-Mounted Switchgear Market Size was valued at USD 5.77 Billion in 2023. The Pad-Mounted Switchgear market industry is projected to grow from USD 6.06 Billion in 2024 to USD 8.53 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.37% during the forecast period (2024 - 2032). High dependability of the subterranean distribution network is a result of ongoing transmission and distribution network enhancements are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

In April 2022, ABB collaborated with consumers to develop the new ElastimoldTM Tru-BreakTM single-phase switchgear module and the new ElastimoldTM Veri-SpikeTM grounding-aid device that reduces potential risks of injury to workers in utility maintenance of electrical equipment. The recent middle voltage systems can be mixed with ABB’s innovative solution and can be used in construction, communication, industrial development, utility services and original equipment manufacturer (OEM) purposes.

In March 2022, the James City County (JCC) Board of Supervisors of Virginia, United States, approved a new solar farm on Racefield Drive. On-site pad-mounted switchgear will connect the solar farm to the existing utility line across 26 out of 65.26 acres (about the area of a large shopping mall).

In March 2022, a new solar farm was approved on Racefield Drive by the James City County (JCC) Board of Supervisors of Virginia, United States. On-site pad-mounted switchgear will connect the solar farm to the existing utility line across 26 out of 65.26 acres (about the area of The Vatican).

The Pad-mounted switch gear market has witnessed multiple technological advancements. Pad-mounted switchgear manufacturers are adding smart features to their systems to enable real-time monitoring and control of electrical networks. As a result, utilities can maximize grid performance, minimize downtime and enhance reliability. In response to increasing sustainability concerns, manufacturing firms have been developing environmentally pad-mounted gear systems made of recyclable materials and energy-efficient components.

Another notable development often observed in modern-day pad-mounted switchgear solutions is remote monitoring and maintenance capabilities as a standard feature set. This allows utilities to remotely check the status of equipment, conduct diagnostics, and perform corrective maintenance without necessarily going on-site.

The progressive digitization of electric infrastructure has made cybersecurity a top priority for the pad-mounted switchgear industry. Manufacturers are now incorporating robust cybersecurity measures like encryption protocols and access controls into their devices to protect against cyber threats and unauthorized access.

Pad-Mounted Switchgear Market Trends

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  Growing demand of electricity is driving the market growth

  
  

Market CAGR for pad-mounted switchgear is being driven by the rising demand of electricity. The market's rise is being driven by rising power consumption and grid building. Effective energy resource usage is essential, particularly in light of growing industrialization and electricity demand. More people are utilizing emission-free energy sources, such as power transmission, using HVDC systems. 

Power consumption has grown due to the commercial, residential, and industrial sectors. Technologies for pad-mounted switchgear have become more popular due to their use in underground long-distance transmission and lower energy costs. Over the next years, the market is anticipated to grow considerably due to rising energy demand and the growth of underground energy transmission. Due to the increased demand for energy, transmission and distribution (T&D) networks need to be trustworthy and stable. 

The only system that can deliver uninterrupted electricity is one with sharp power shorts and dips. Modernized substitutes in industrialized nations ensure a consistent power supply with minimal losses. This is achieved by replacing outmoded components with more modern, functional ones. These upgrades are clever and far more resilient to prevailing conditions.

With distribution system investments, the distribution system can handle long-distance power flow and energy losses caused by high currents. The market will thus expand in the coming years due to the increasing investments in infrastructure upgrades. Industrialization is spreading swiftly over the world, increasing industrial power consumption. Developed and emerging nations are experiencing substantial growth in the manufacturing and process industries. 

Energy consumption rises with the development of manufacturing and process industries, necessitating monitoring of power usage in these sectors to maintain equipment safety. The corresponding aspect emphasizes the creation of effective energy management and safety equipment. Governments from all across the world are working to reduce the price of energy.

Several governments promote deploying effective energy management technology to decrease energy usage and expenses. Since pad-mounted switchgear is essential for managing energy, overseeing machine safety, and playing a crucial role in energy conservation without sacrificing the expanding manufacture of products, the need for device manufacturing is growing significantly along with product development and research. 

Because of this, the modernization of production processes and the rising demand for automation serve as major market drivers for pad-mounted switchgear worldwide.Thus, driving the Pad-Mounted Switchgear market revenue.

Pad-Mounted Switchgear Market Segment Insights:

Pad-Mounted Switchgear Type Insights

Based on type, the Pad-Mounted Switchgear market segmentation includes air-insulated, gas-insulated, solid dielectric, and others. The gas-insulated segment dominated the market, accounting for 35% of market revenue. The gas-insulated switchgear employs SF6 gas as insulation. 

SF6 has strong dielectric properties when used at moderate pressure for phase-to-phase and phase-to-ground insulation. Gas-insulated pad-mounted switchgear systems encapsulate switches, circuit breakers, and fuses in grounded metal enclosures filled with SF6 gas.

Pad-Mounted Switchgear Application Insights

Based on application, the Pad-Mounted Switchgear market segmentation includes industrial, commercial and residential. The industrial segment dominated the market. The industrial sector includes manufacturing and process sectors, including mining, chemical & pharmaceutical, oil & gas, food & beverage, steel, cement, and automotive. 

These industries require a reliable primary power supply as well as backup power. Several industries use pad-mounted switchgear systems to avoid power outages and provide a consistent supply of energy.

Pad-Mounted Switchgear Voltage Insights

Based on voltage, the Pad-Mounted Switchgear market segmentation includes Up to 15 kV, 15-25 KV, 25-35 KV and Above 35 kV. The 15-25 KV segment dominated the market. Gas-insulated medium voltage switchgear is widely used with generators for wind farms. 

For the safety of wind turbines, medium voltage switchgear with SF6 gas insulation is constructed in remote places. The basic function of medium voltage power networks is to interrupt the current when it is erroneous, regardless of the kind of circuit breaker in the system.

Pad-Mounted Switchgear Standard Insights

Based on Standards, the Pad-Mounted Switchgear market segmentation includes the international electrotechnical commission (IEC), the institute of Electrical and electronics engineers (IEEE) and other standards. The international electrotechnical commission (IEC) generated the most income (70.4%). 

The criteria for prefabricated metal-enclosed switchgear and control gear assemblies for alternating current with rated voltages ranging from 1 to 52 kV for indoor and outdoor installation, as well as for service frequencies up to 60 Hz, are outlined in the IEC 62271-200:2011 standards. Fixed and moveable parts insulated by a fluid (liquid or gas) may be found in enclosures. 

Figure 1: Pad-Mounted Switchgear Market, by Standard, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Pad-Mounted Switchgear Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The Asia Pacific Pad-Mounted Switchgear market area will dominate this market due to increased plans for power generation capacity, and rising electricity demand, rising demand for replacing/refurbishing aging transmission and distribution networks, particularly in China and India, as industrial and infrastructure development activities pick up speed.

Further, the major countries studied in the market report are The US, Canada, Japan, India, Spain, China, German, France, the UK, Italy, Australia, South Korea, and Brazil.

Figure 2: Pad-Mounted Switchgear Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe has the second-largest market share for Pad-Mounted Switchgear. The demand for pad-mounted switchgear is expected to rise in Europe due to the growing requirement for underground distribution. Distribution network investments are developing in response to the expanding usage of renewable energy sources. 

Furthermore, the German Pad-Mounted Switchgear market dominated, while the UK Pad-Mounted Switchgear market grew fastest in Europe.

From 2023 to 2032, the North America Pad-Mounted Switchgear Market will develop quickly. The transmission and distribution network is expanding, and the underground distribution network is overly dependent. 

Furthermore, the US Pad-Mounted Switchgear market had the highest market share, while the Canada Pad-Mounted Switchgear market was the fastest expanding in the North American region.

Pad-Mounted Switchgear Key Market Players & Competitive Insights

Leading market companies are extensively spending R&D on increasing their product lines, which will help the Pad-Mounted Switchgear market grow even more. Important market developments include new product releases, contractual agreements, acquisitions and mergers, greater investments, and collaboration with other organizations. 

The Pad-Mounted Switchgear industry must produce cost-effective merchandise to flourish and thrive in a more competitive and increasing market climate.

Manufacturing locally to reduce operating costs is an effective business strategy manufacturers use in the worldwide Pad-Mounted Switchgear industry to serve clients and expand the market sector. The Pad-Mounted Switchgear industry has provided some of the most important benefits recently.  

ABB, G&W Electric , and other major competitors in the Pad-Mounted Switchgear market are seeking to improve market demand by investing in R&D efforts.

ABB is creating a more resource-conserving and sustainable future. The company's solutions link software and technical expertise to optimize objects' production, movement, power, and operation. ABB's 105,000 workers are dedicated to driving breakthroughs that hasten industrial change, building on more than 130 years of excellence. ABB Ltd. is a holding corporation that develops and offers automation and power solutions. 

It does business through the following divisions: Corporate and Other, Motion, Robotics & Discrete Automation, Industrial Automation, and Electrification. The section for "Electrification" produces and markets goods and services intended to ensure safer electrical flow from the substation to the socket.

In April 2022, The new ElastimoldTM Veri-SpikeTM grounding-aid device and the new ElastimoldTM Tru-BreakTM single-phase switchgear module, which assist in lessening the risk to utility workers who service electrical equipment, were developed by ABB in partnership with customers.

G&W Electric has provided the globe with cutting-edge power systems solutions and equipment since 1905. Early in the 20th century, G&W made history by introducing the first disconnectable cable termination device, which helped the company establish a reputation for developing innovative solutions for system designers. 

The newest in solid dielectric and SF6 insulated switchgear, solid dielectric insulated reclosers, system protection equipment, distribution automation systems, and distribution and transmission cable accessories are among the solutions that now go well beyond cable accessory goods.In August 2022, Veneta Isolatori SPA has joined the G&W Electric family, according to G&W Electric Co.

Key Companies in the Pad-Mounted Switchgear market include

• Federal Pacific (US)


• ABB (Switzerland)


• Eaton (Ireland)


• TIEPCO (Saudi Arabia)


• S&C Electric Company (US)


• G&W Electric (US)


• AZZ Inc. (US)


• Powell Industries (US)


• Trayer Switchgear (US)


• ENTEC Electric & Electronic (South Korea)


• KDM Steel (China)


• Switchgear Power Systems LLC (US)


• Scott Engineering, Inc. (US)


• Park Detroit (US).

Pad-Mounted Switchgear Industry Developments

January 2023:Eaton and Rewiring America worked together to promote household electrification via education, awareness, and action.

March 2023:Approximately 25 miles from its 47-acre Chicago headquarters and manufacturing campus in Rogers Park, S&C Electric Company, a pioneer in smart and resilient electrical grid solutions, announced the expansion of its US manufacturing footprint with a 275,000-square-foot facility in Palatine, Illinois. The firm is the second-largest manufacturer in Chicago, with more than 2,000 team members working there out of its 3,500 team members worldwide.

Pad-Mounted Switchgear Market Segmentation:

Pad-Mounted Switchgear Type Outlook

• Air-Insulated


• Gas-Insulated


• Solid Dielectric


• Others

Pad-Mounted Switchgear Application Outlook

• Industrial


• Commercial


• Residential

Pad-Mounted Switchgear Voltage Outlook

• Up to 15 kV


• 15-25 KV


• 25-35 KV


• Above 35 kV

Pad-Mounted Switchgear Standard Outlook

• International Electrotechnical Commission (IEC)


• Institute of Electrical and Electronics Engineers (IEEE)


• Other Standards

Pad-Mounted Switchgear Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America