The Asia Pacific Pad–Mounted Switchgear Market would witness market growth of 5.8% CAGR during the forecast period (2023-2029).
Market expansion for pad-mounted switchgear is expected to be aided by the change in the adoption of underground distribution systems in developing economies and the strict environmental rules placed on the usage of SF6 in both developed and developing nations. In metropolitan and densely populated areas, underground or subsurface distribution systems are increasingly used. As a result of the widespread use of renewable energy, distribution network investments are increasing.
The ability of pad-mounted switchgear to transfer high voltages with minimal voltage drop at the places where power leaves and enters a system makes it a common sight in industrial applications. Industrial pad-mounted switches are made to be more durable and to withstand higher working temperatures than consumer products.
These devices can be used in locations with high levels of dust or corrosive environments, such as substations that provide electricity to a variety of customers, including homes, businesses, and other establishments. These are fixed points and may also require movement from one location to another, thus the term "mobile station type." Typically, they are divided into three major sections: feeders (wires that transport power from external sources), panels (switchboards), and buses (cable groups responsible for electricity distribution within a building).
The Asia Pacific is expected to experience rapid demand for pad-mounted switchgear due to rising plans for power generation capacity, rising demand for aging transmission & distribution networks to be replaced or upgraded, and rising electricity demand, especially in China and India, as a result of rapidly rising industrial and infrastructure development activities. Due to the exceptional economic growth in China as well as factors like the quick urbanization and industrialization of electricity, there has been a high rate of electricity consumption. In 2021, the main energy usage climbed and exceeded 165 quad btu. China's utilities and governments are creating new generation projects, notably those utilizing renewable energy, to meet the country's expanding need for electricity. Therefore, the region presents lucrative growth opportunities for the market in the coming years.
The China market dominated the Asia Pacific Pad–Mounted Switchgear Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $604.8 million by 2029. The Japan market is estimated to grow a CAGR of 5.2% during (2023 - 2029). Additionally, The India market would experience a CAGR of 6.5% during (2023 - 2029).
Based on Type, the market is segmented into Gas-insulated, Air-insulated, Solid-Dielectric and Others. Based on Voltage, the market is segmented into 25 - 38 kV, 15 - 25 kV and Others. Based on Application, the market is segmented into Industrial, Commercial and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Pad-Mounted Switchgear Market is Projected to reach USD 7.3 Billion by 2029, at a CAGR of 5.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Eaton Corporation PLC, ABB Ltd, Hubbell Incorporated, S&C Electric Company, Powell Industries, Inc., G&W Electric, Electro-Mechanical, LLC (Graycliff Partners LP), ENTEC Electric & Electronic Co. Ltd, NOJA Power Switchgear Pty. Ltd., and The International Electrical Products company (Al Tuwairqi Holding Co. ltd).
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