Global pad-mounted switchgear market to reach $10.7 B by 2034
The global pad-mounted switchgear market size is projected to grow from $6.5 B in 2024 to $10.7 B during the forecast period from 2025 to 2034.
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The global pad-mounted switchgear market size is expected to be worth around $10.7 B by 2034, from $6.5 B in 2024, growing at a CAGR of 5.0 % during the forecast period from 2025 to 2034.
The pad-mounted switchgear market plays a pivotal role in the electrical distribution sector, providing critical infrastructure for managing, protecting, and controlling power in medium-voltage systems. Pad-mounted switchgear refers to outdoor electrical equipment installed on a concrete pad, typically housing switches, circuit breakers, and transformers within a weather-resistant enclosure.
The market is witnessing steady growth, driven by the increasing demand for efficient power distribution systems amid rapid industrialization and urbanization worldwide. Technological advancements, such as the integration of IoT-enabled monitoring systems, are further propelling market growth.
Key players: ABB, Actom, Beijing Kylin Power & Technology, Eaton, Eaton Corporation PLC., Entec Electric & Electronic Co., Federal Pacific, G Electric, G&W Electric, Ghorit Electricals, Hubbel Incorporated, KDM Steel, Ningbo Tianan Group, NOJA Power, Ormazabal, Park Detroit and Park, Electric.
Source: market.us
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