Switchyard Maintenance Market – Global Industry Report, 2030

Switchyard Maintenance

  • Switchyard is a switching station that is the central link between the power generating plant and the transmission system. It is a junction that carries the generated power to the required station. It plays a key role in the security of the system. Switchyard can control reactive power devices, which determine power quality.
  • Switchyard comprises assembly of switches, power circuits, breakers, and auxiliary equipment, which are used in transmission and distribution
  • Switchyard is one of the important constituents of the substation. Hence, proper maintenance of switchyards is necessary for reliability.
  • Switchyard maintenance consists of two types: preventive and breakdown. Breakdown maintenance, also known as corrective maintenance, is carried out due the failure of equipment. Such type of maintenance results in outage of circuit and supply. Preventive maintenance is undertaken to ensure smooth and efficient working of a system or equipment.
  • Maintenance of switchyards consists of other services such as inspection, servicing, and overhauling of system

Key Drivers of Global Switchyard Maintenance Market

  • Demand for switchyard maintenance has been increasing owing to rise in automation and industrialization across the globe. Demand for electricity is high due to growth in population. This is driving the global switchyard maintenance market.
  • Increase in distribution networks and modernization of existing power infrastructure are anticipated to boost the demand for switchyard maintenance during the forecast period

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COVID-19 Impact Analysis

  • The spread of coronavirus has hampered the scheduled preventive maintenance of switchyards globally. The pandemic has restricted the supply of equipment and skilled labor in the market. Most of the maintenance providers are striving to adopt new strategies and business models to sustain themselves in the market.

Key Development

  • In December 2019, Schneider Electric introduced EcoStruxure Asset Advisor for new electrical substation. The EcoStruxure Asset Advisor is a condition-based monitoring and predictive analytics service that allows companies to monitor the health of new substation assets through a customer dashboard. More than 100 variables are measured and computed to provide accurate and reliable condition-monitoring.

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Asia Pacific to Hold Major Share of Global Switchyard Maintenance Market

  • Based on region, the global switchyard maintenance market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific dominated the global switchyard maintenance market in 2019, owing to rise in urbanization and globalization in the region. The trend is projected to continue during the forecast period owing to increase in demand for electricity in residential, industrial, and commercial sectors of the region. Investments in the industrial sector are also rising, especially in countries such as China, India, and Japan, in Asia Pacific. This is augmenting the market in the region.
  • North America is estimated to hold large share of the global switchyard maintenance market in the next few years. Increase in urbanization and electrification rate has boosted the demand for switchyard maintenance in the region.
  • The market in Europe is likely to expand at a healthy pace during the forecast period. Significant investment in the renewable sector and transmission & distribution infrastructure is estimated to propel the switchyard maintenance market in the region.
  • The market in Middle East & Africa and Latin America is anticipated to expand at a moderate pace during the forecast period. The industrial sector in these regions has been developing at a rapid pace. This is projected to augment the demand for switchyard maintenance in the near future.

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Key Players Operating in Market

Leading players operating in the global switchyard maintenance market include:

  • SMC int.
  • Spectrum Engineering Corp.
  • Tyron Power Services
  • BNC Power
  • Schneider Electric
  • Power Substation Services.
  • Hitachi ABB Power Grids
  • Lee Electrical
  • Power Line Services, Inc
  • Mesa Line Services
  • Siemens

Global Switchyard Maintenance Market: Research Scope

Global Switchyard Maintenance Market, by Maintenance Type

  • Breakdown Maintenance
  • Preventive Maintenance
  • Others

Global Switchyard Maintenance Market, by Service

  • Inspection
  • Servicing
  • Overhaul

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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