LONDON, March 21, 2016 /PRNewswire/ -- Pad-mounted switchgear market is expected to reach a value of USD 6.3 billion by 2020, at a CAGR of 9.1% during 2015-2020. Increasing T&S infrastructure investments along with the rising trend towards placing electrical lines underground is driving the demand for pad-mounted switchgears across the world. Pad-mounted switchgear is considered to be a vital protection component in present day underground distribution networks which are more reliable as compared to overhead lines. North America and Europe are investing heavily towards upgrade of their aging T&D infrastructure. Globally all countries are moving towards adopting underground distribution networks as they are less susceptible to lightning and have low maintenance costs.
Air insulated pad-mounted switchgear dominates the global market:
Air insulated pad-mounted switchgear is the largest market segment nearly holding half of the total market in 2014. This is attributed to its economic viability. In areas with extensive space, air insulated switchgear is the primary choice due to its low cost. Air insulated pad-mounted switchgear market is further segmented by its voltage rating. Air insulated pad-mounted Switchgear at 16-25 kV voltage held the largest market share by value in 2014 followed by 0-15 kV air insulated pad-mounted switchgears.
Asia-Pacific: The fastest growing region in pad-mounted switchgear market
Asia-Pacific is the fastest growing market for pad-mounted switchgear. Growing trend towards underground distribution is driving the market for pad-mounted switchgears in the region. Massive T&D network expansion and industrialization projects in Asia-Pacific countries are influencing the growth in the region.
Breakdown of Primaries:
Interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts to obtain & verify critical qualitative and quantitative information as well as assess future market prospects. Distribution of primary interviews is as follows
By Company Type: Tier 1- 40%, Tier2-35%, and Tier 3-25%
By Designation: C-Level-55%, Manager Level-45%,
By Region: North America-20%, Europe-10%, Asia-Pacific-40%, and RoW-30%
The tier of the companies is defined on the basis of their total revenue, as of 2013: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion and Tier 3 =
Some of the key players in the industry have been profiled with their recent developments and other strategic activities. These include Eaton Corporation plc (Ireland), G&W Electric (U.S.), Federal Pacific (U.S.), Hubbel Incorporated (U.S.), and S&C Electric Company (U.S.) among others.
Why buy this report?
1. The report identifies and addresses key markets for pad-mounted switchgears which is useful for suppliers and OEMs to review production and distribution plans
2. The report includes analysis for key countries by application of pad-mounted switchgears, i.e. industrial, commercial, and residential. It analyses historical trends and also forecast for 2020 assisting in strategic decision making
3. It also presents competition by analyzing recent market developments such as key contracts, expansions, and new product launches from the key global market players. It helps understand the competition strategies and plan respective initiatives
Download the full report: https://www.reportbuyer.com/product/3377272/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Research Advisor at Reportbuyer.com
Tel: +44 208 816 85 48
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pad-mounted-switchgear-market-by-type-by-voltage-rating-by-application--by-region---global-trends--forecast-to-2020-300239265.html