Research Nester released a report titled “Pad-Mounted Switchgear Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the pad-mounted switchgear market in terms of market segmentation by application, by type, by voltage and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
With rising industrialization and urbanization, governments are looking for new ways to implement transmission systems. Underground transmission systems have gained popularity in Europe and other developed regions, which is anticipated to drive the market growth for pad-mounted switchgear at a notable CAGR during the period 2020-2028. The market is segmented by application into industrial, commercial, residential and others. The industrial segment is anticipated to grow at the fastest rate on the back of high demand for upgradation of transmission systems across the world.
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On the basis of regional analysis, the pad-mounted switchgear market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to hold the largest market share on the back of use of sophisticated technology for business development and increasing investment in the pad-mounted switchgear technology in the region. Further, the market in Asia Pacific is anticipated to record the highest CAGR owing to the increasing industrialization in the region.
Modernization of Electric Distribution Network
The world is going through a phase of urbanization. Different countries are upgrading their transmission systems. Hence, the demand for pad-mounted switchgear is rising which is anticipated to drive the market growth during the forecast period. However, high cost of the product, intense competition and aging infrastructure are some factors expected to operate as key restraints to the growth of the pad-mounted switchgear market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global pad-mounted switchgear market which includes company profiling of Eaton Corp. (NYSE:ETN), Hubbell Inc. (NYSE:HUBB), Powell Industries Inc. (NASDAQ:POWL), Scott Engineering Inc., Park Detroit, S & C Electric Company, Tiepco, Trayer Engineering Corp., G & W Electric and Federal Pacific. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global pad-mounted switchgear market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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