Pad-Mounted Switchgear Market Overview:

Pad-Mounted Switchgear Market size is projected to reach USD 7.13 Billion by 2025, with 5.00% CAGR between 2022 and 2030.

Drivers and Restraints

Growing advances in the transmission distribution network and higher reliability of the underground distribution network are key factors driving the global pad-mounted switchgear market rise. Additionally, power network automation is also anticipated to push the use of pad-mounted switchgear. In the Netherlands for example, the country's government is focusing on modernizing the distribution network to incorporate electric vehicle charging facilities throughout the country.  Moreover, the Netherlands has a 100% underground electricity distribution network within the country. This will consequently would increase the demand for pad-mounted switchgear in the global pad-mounted switchgear market.

Regional Analysis

The geographical overview of the global pad-mounted switchgear industry has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world.

In North America, the US is anticipated to be the largest market owing to the rising development in the transmission and distribution network. Additionally, the US is anticipated to grow at the highest growth during the review period. Such factors are predicted to fuel the growth of the pad-mounted switchgear market in North America during the review period.

In Asia-Pacific, China is anticipated to be the largest market owing to the rising demand for the automation of the power infrastructure and the increasing developments in the distribution sector in the country. Such factors are estimated to fuel the growth of the pad-mounted switchgear market in Asia-Pacific during the review period.