Press release
Pad Mounted Switchgear Market set to grow | 2018 Key Players are Eaton, Federal Pacific, Entec Electric & Electronic, Trayer Engineering, Tiepco, Power Grid Solution, S&C Electric, Electronic & Electrical Industries, G&W Electric, Hubbel Incorporated
Pad mounted switchgear market
Pad Mounted Switchgear Market was valued around USD 4 billion in 2014 and is anticipated to grow at a significant CAGR of more than 9% from 2016 to 2023, exceeding USD 6.5 billion. Mainly used in underground distribution system to ensure reliable and continuous electricity distribution, it also amplifies the reliability and efficiency of the electrical supply with the advantage of being less susceptible to lightning and offers easy diagnosis of faults. The aforementioned factors are driving the demand for the industry over the forecast period.
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High reliability of underground distribution systems is expected to be the prime factor responsible for the growth of the pad mounted switchgear market over the forecast period. In addition, increasing T&D (Transmission & distribution) utilities should also favor demand during the next few years. Some of the additional benefits offered include cross bus at the top of enclosure for ease of inspection and flexible modular design promotes life cycle support including field upgrades and repairs. In addition, these switchgears are available in mild steel, stainless steel or aluminum construction and are also easily replaceable.
Top Key Players:-
The key players of global Pad Mounted Switchgear Market are Entec Electric & Electronic Co., Trayer Engineering Corporation, Tiepco, Power Grid Solution Inc, S&C Electric Company, Electronic & Electrical Industries Corporation, G&W Electric, Hubbel Incorporated, Eaton Corporation and Federal Pacific.
Regional Segmentations:-
Asia Pacific pad mounted switchgear market is the fastest growing region. Increasing inclination for underground distribution should fuel growth over the forecast period. Enormous T&D network industrialization and expansion projects in this region are positively influencing the growth over the next few years. Increasing scope for pad mounted switchgear market in application sectors offers several benefits such as high dependable power for optimum, continuous and uninterrupted operations. This will amplify the demand for underground distribution systems.
Europe pad mounted switchgear market was the foremost region in 2014. The region is currently focusing on replacement and up gradation of its aging infrastructure, converts overhead lines into underground wires and improving grid reliability. The above mentioned factors underground distribution equipment demand including switchgears.
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Solid insulated switchgear market is expected to grow at rapid rate and it is also considered as the foremost substitute when compared with oil insulated switchgears. Solid insulators are chiefly deployed for horizontal or vertical mounting, corrosive and wet environment, and are used in any desired altitude. In addition, epoxy is environmental friendly and inert, thus no EPA usage restrictions are implied making it easily suitable in the industry.
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