Pad-Mounted Switchgear Market

Market Leaders - Pad-Mounted Switchgear Market

The global pad-mounted switchgear market is projected to reach USD 7.2 billion by 2024 from an estimated market size of USD 5.5 billion in 2019, at a CAGR of 5.4% during the forecast period. The factors driving the market include the increasing investments in distribution infrastructure to meet the growing electricity demand along with investments in underground distribution due to functional and aesthetic advantages. For high-priority loads such as commercial and industrial loads, which require high reliability, underground cables with pad-mounted switchgears are used.

Both global and regional players dominate the global pad-mounted switchgear market. The leading players in the global pad-mounted switchgear market include Eaton (Ireland), Hubbell (US), Federal Pacific (US), S&C Electric (US), G&W Electric (US), ABB (Switzerland), and AZZ (US).

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The major strategies adopted by the players include contracts & agreements, investments & expansions, mergers & acquisitions, and new product launches. Contracts & agreements was the most commonly adopted strategy from January 2017 to October 2019.

Eaton (Ireland) is one of the leading power management companies around the world that provides energy-efficient solutions to manage electrical, mechanical, and hydraulic power. The company operates through six business segments, namely, electrical products, electrical systems and services, hydraulics, aerospace, vehicle, and eMobility. It provides pad-mounted switchgears under its electrical products segment. Under this segment, the company also offers electrical components, residential products, industrial components, power quality, fire detection, emergency lighting, structural support systems, wiring devices, circuit protection, and lighting products. The company has its presence in more than 175 countries across the Americas, Europe, Middle East, Africa, and Asia Pacific. Eaton has manufacturing facilities in approximately 284 locations in 42 countries, such as the Dominican Republic and the US. The company’s recent mergers & acquisitions, as part of its inorganic business strategy, is expected to increase its clientele base globally. It has recently acquired Innovative Switchgear Solutions (US) to strengthen and enhance its switchgear product portfolio in the North American region. In April 2019, the company acquired an 82.2% stake in Ulsoy Elektrik (Turkey), which manufactures medium-voltage switchgears, medium-voltage transformers, and cable systems.

Hubbell (US) is primarily engaged in the design, manufacture, and sale of quality electrical and electronic products for a broad range of nonresidential and residential construction, industrial, and utility applications. It operates through two business segments, namely, electrical and power. The company offers pad-mounted switchgears under its electrical segment. Under the electrical segment, Hubbell manufactures and sells wiring, lighting fixtures, and controls for indoor and outdoor applications as well as specialty lighting and communications products. The power segment offers operations that design, manufacture, and deal with the sale of transmission & distribution components primarily for the electrical utilities industry. Hubbell has a presence in North America, South America, the Middle East, Europe, and Asia Pacific. Its manufacturing and warehousing facilities are located in the US, Australia, Canada, Mexico, China, Puerto Rico, Singapore, Switzerland, and the UK.

Related Reports:

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

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Pad-Mounted Switchgear Market Size,  Share & Growth Report
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