Pad Mounted Switchgear Market - Trends, Growth Propellers, Segmentation and Top Players
20 March 2019
The global pad mounted switchgear market is expected to be valued at USD 6.5 billion over the forecast period and it is anticipated to grow at an approximate CAGR of over 9% over the forecast period of 2016 to 2024.
The market is expected to be driven by factors such as increasing transmission and distribution investment and high efficient underground distribution systems. The underground distribution system is growing rapidly owing to shift change in trend.
Uninterrupted and continuous power for optimum operation is also expected to spur the market growth over the next eight years.
Restraint in the market is the higher cost associated with the pad mounted switchgear. Growing trend towards the underground transmission in developing is expected to offer lucrative growth opportunities to the pad mounted switchgear market.
Interchangeability with the existing transmission systems and aging infrastructure is one of the major challenges in the pad mounted switchgear market. Raw materials used for power generation plays a major role in switchgear durability and efficiency.
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The market is segmented on the basis of product types such as air insulated, gas insulated, oil insulated, hybrid insulated and vacuum interrupters.
Air-insulated switchgear uses compressed air to insulate conductors and gas insulated switchgear use pressurized SF6 gas to insulate conductors. Air insulated switch gears are economically viable owing to its low cost. Gas insulated switchgear is cost effective and improves the quality of voltage.
Hybrid switchgear is the combination of both air insulated and gas insulated technologies. Hybrid switchgear is designed based on the facts such as maintenance facility and space requirement. Vacuum interrupter is expected to drive the market over the next eight year owing to low maintenance and high switching ratings
This market can address end users, pad mounted switchgear manufacturers, EPC contractors, utility companies and suppliers
Components used in the substation are the current transformer, voltage transformer, circuit breaker, electrical bus bars, electrical isolators, earth switches and lightning or surge arrestor. Pad mounted switch gear can be operated manually or through automation techniques such as SCADA and PLC.
The market is segmented on the basis of product types such as air insulated, gas insulated, oil insulated, hybrid insulated and vacuum interrupters.
Air-insulated switchgear uses compressed air to insulate conductors and gas insulated switchgear use pressurized SF6 gas to insulate conductors. Air insulated switch gears are economically viable owing to its low cost. Gas insulated switchgear is cost effective and improves the quality of voltage.
Hybrid switchgear is the combination of both air insulated and gas insulated technologies. Hybrid switchgear is designed based on the facts such as maintenance facility and space requirement. Vacuum interrupter is expected to drive the market over the next eight year owing to low maintenance and high switching ratings
This market can address end users, pad mounted switchgear manufacturers, EPC contractors, utility companies and suppliers
Components used in the substation are the current transformer, voltage transformer, circuit breaker, electrical bus bars, electrical isolators, earth switches and lightning or surge arrestor. Pad mounted switch gear can be operated manually or through automation techniques such as SCADA and PLC.
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