Pad-Mounted Switchgear Market worth 6.3 Billion USD by 2020
Global pad-mounted switchgear market is projected to grow at a CAGR of 9.1% during 2015-2020, to reach a value of USD 6.3 Billion by 2020. This growth is attributed to increasing T&D infrastructure investment and high reliability of underground distribution systems. Applications of pad-mounted switchgear are not limited to any single industry. There is scope for their usage in every industry in electricity distribution. All industries require uninterrupted, highly dependable power for continuous, optimum operations. This will lead to demand for reliable, underground distribution systems. Pad-mounted switchgear plays a crucial role in switching the loads in these electricity distribution systems. The report segments pad-mounted switchgear market on the basis of its major applications which include industrial, commercial and residential segments. Commercial segment is the fastest growth markets for pad-mounted switchgears.
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