According to the research report titled ‘Global Pad-mounted switchgear Market Size study with COVID-19 impact, by Type (Air insulated, gas insulated, solid insulated and others), by Application (Industrial, commercial and residential), by Standards (International Electrotechnical Commission (IEC), Institute of Electrical and Electronics Engineers (IEEE) and Other standards), by Voltage ( Up to 15kV , 15a??25 kV and 25a??38 kV )and Regional Forecasts 2020-2027‘, available with Market Study Report, global pad-mounted switchgear market was worth USD 5.5 billion in 2019 and is anticipated to record a cumulative annual growth rate of 5.40% through 2027.
 

Presence of favorable government measures for enhancement of distribution & transmission network is a major factor propelling the growth of global pad-mounted switchgear market.
 

Citing an instance, the government of India launched Integrated Power Development Scheme (IPDS) in 2014, which aims to strengthen the sub-transmission and distribution networks across urban areas by IT enablement of distribution sector as well as metering of distribution feeders / transformers / consumers.
 

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For the unfamiliar, pad-mounted switchgear is employed for switching and isolation of electrical distribution system along with pre-engineered switching configurations. Further, ability of the switchgear to improve security of switches and fuse components from environmental hazards is fueling the global pad-mounted switchgear industry growth.
 

However, high cost of installation of pad-mounted switchgears may hamper the growth of market over the forecast period. Also, rising prevalence of COVID-19 is causing disruption in supply chain, hence arresting the global pad-mounted switchgear industry expansion in current times.
 

In terms of voltage range, global pad-mounted switchgear industry is bifurcated into 25-38 kV, 15-25 kV, and up to 15kV. Considering the standards, the market is divided into Institute of Electrical and Electronics Engineers (IEEE), International Electrotechnical Commission (IEC), and others.  Based on application gamut, the market is classified into residential, industrial, and commercial. With respect to type, the industry is bifurcated into solid insulated, air insulated, gas insulated, and others.

From a regional frame of reference, North America pad-mounted switchgear market accrued significant revenues in the past year, mainly due to rapid development of transmission & distribution infrastructure in the region. Whereas, Asia-Pacific industry is projected to grow momentously over 2020-2027, owing to favorable government policies for modernization of transmission & distribution network.
 

Major players operating in global pad-mounted switchgear industry sphere include Federal Pacific, Eaton Corporation plc, G&W Electric Co., Electronic & Electrical Industries Corporation (EEIC), ABB Group, Hubbell Inc., Trayer Engineering Corp., S&C Electric Co., Powell Electronics Inc., and TIEPCO (The International Electrical Products Company).