Global Pad-Mounted Switchgear Industry Outlook, 2019-2024 - Implementation of Performance-based Incentive Schemes & Guaranteed Service Programs Present Opportunities

/EIN News/ -- Dublin, Jan. 03, 2020 (GLOBE NEWSWIRE) -- The "Pad-Mounted Switchgear Market by Type (Air, Gas, Solid Dielectric), Voltage (Up to 15 kV, 15-25 kV, 25-38 kV), Application (Industrial, Commercial, & Residential), Standard (IEC, IEEE), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The pad-mounted switchgear market is projected to reach USD 7.2 billion by 2024, at a CAGR of 5.4% from 2019 to 2024.

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 switchgear. 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 switchgear is a restraint for the growth of the pad-mounted switchgear market.

The global pad-mounted switchgear market is dominated by a few major players that have an extensive global and regional presence. The leading players in the pad-mounted switchgear market are Eaton (Ireland), Hubbell (US), Federal Pacific (US), S&C Electric (US), G&W Electric (US), ABB (Switzerland), and AZZ (US).

The IEC segment is expected to dominate the pad-mounted switchgear market in 2019

The IEC segment is expected to dominate the pad-mounted switchgear market in 2019, owing to the increasing installation of pad-mounted switchgear 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 switchgear. The increasing adoption of IEC as a standard for all the pad-mount switchgear installed in the region is leading to the market growth of the IEC standard pad-mounted switchgear.

The pad-mounted switchgear, the solid dielectric type is expected to grow at the highest rate during the forecast period

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 switchgear 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 expected to lead the global pad-mounted switchgear market in terms of market size

Europe is currently the largest pad-mounted switchgear market, followed by North America and the 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 switchgear during the forecast period.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Pad-Mounted Switchgear Market
4.2 Pad-Mounted Switchgear Market, By Standard
4.3 Pad-Mounted Switchgear Market, By Voltage
4.4 Pad-Mounted Switchgear Market, By End-user
4.5 Pad-Mounted Switchgear Market, By Type
4.6 Pad-Mounted Switchgear Market, By Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Development in T&D Infrastructure
5.2.1.2 High Reliability of Underground Distribution Systems
5.2.1.3 Need for Upgrading the Aging Power Infrastructure
5.2.1.4 Increasing Adoption of Distribution Automation to Achieve Highly Reliable and Safe Power Transmission
5.2.2 Restraints
5.2.2.1 High Installation Cost Associated With Pad-Mounted Switchgears
5.2.2.2 Fierce Competition From Unorganized Or Fragmented Switchgear Markets
5.2.3 Opportunities
5.2.3.1 Growing Trend of Adopting Underground Distribution Systems in Developing Countries
5.2.3.2 Implementation of Performance-Based Incentive Schemes and Guaranteed Service Programs
5.2.3.3 Stringent Environmental and Safety Regulations Imposed on the Use of Sf6
5.2.4 Challenges
5.2.4.1 Installation of Underground Distribution Systems Faces Challenges in Unplanned Cities

6 Pad-Mounted Switchgear Market, By Application
6.1 Introduction
6.2 Industrial
6.2.1 Growing Investments in Europe and North America are Likely to Drive the Industrial Pad-Mounted Switchgear Industry
6.3 Commercial
6.3.1 Increasing Energy Demand in the Commercial Sector is Expected to Drive the Demand for Pad-Mount Switchgears for Commercial Applications
6.4 Residential
6.4.1 Rising Demand for Reliable Power in Residential Complexes is Driving the Pad-Mounted Switchgear Industry in Residential Applications

7 Pad-Mounted Switchgear Market, By Standard
7.1 Introduction
7.2 International Electrotechnical Commission (IEC)
7.3 Institute of Electrical and Electronics Engineers (IEEE)
7.4 Other Standards

8 Pad-Mounted Switchgear Market, By Type
8.1 Introduction
8.2 Air Insulated
8.2.1 Air Insulated Switchgear Finds Extensive Application in Low Voltage Distribution Networks
8.3 Gas Insulated
8.3.1 Gas Insulated Pad-Mounted Switchgear Segment is Expected to Lead the Market During the Forecast Period
8.4 Solid Dielectric
8.4.1 Restrictions on the Use of Sf6 May Aid the Growth of the Solid Dielectric Switchgear Segment
8.5 Others

9 Pad-Mounted Switchgear Market, By Voltage
9.1 Introduction
9.2 Up to 15 kV
9.2.1 Increasing Demand for Up to 15 kV Pad-Mounted Switchgears in Residential Applications is Expected to Drive the Market
9.3 15-25 kV
9.3.1 Increasing Demand for 15-25 kV Pad-Mounted Switchgears in Feeder and Substation Automation Applications is Likely to Propel the Market
9.4 25-38 kV
9.4.1 Growth in the Industrial and Commercial Sectors is Expected to Boost the Demand for the 25-38 kV Segment

10 Pad-Mounted Switchgear Market, By Region
10.1 Introduction
10.2 Asia-Pacific
10.3 Europe
10.4 North America
10.5 Middle East & Africa
10.6 South America

11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping (Overall Market)
11.2.1 Visionary Leaders
11.2.2 Innovators
11.2.3 Dynamic Differentiators
11.2.4 Emerging Players
11.3 Market Share, 2018
11.4 Competitive Scenario
11.4.1 New Product Launches
11.4.2 Mergers & Acquisitions
11.4.3 Contracts & Agreements
11.4.4 Others

12 Company Profiles
12.1 Eaton
12.2 Hubbell
12.3 G&W Electric
12.4 S&C Electric
12.5 Federal Pacific
12.6 ABB
12.7 Powell
12.8 Electronic & Electrical Industries Corporation
12.9 Trayer Switchgear
12.10 Tiepco
12.11 Entec
12.12 KDM Steel
12.13 Switchgear Power Systems
12.14 Scott Engineering
12.15 Park Detroit
12.16 AZZ
12.17 Beijing Kylin Power & Technology
12.18 Actom
12.19 Ormazabal

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