Substation Maintenance Market: Overview

Substation maintenance is an important part of a plant’s maintenance program. It helps avoid failure of components such as relays, busses, meters, and racking mechanisms. Thus, it also helps avoid unplanned outages. Companies can incur large losses in terms of money and time due to substation failures. This can be avoided through proper and timely maintenance. 

Substation maintenance consists of several aspects. It involves periodic testing, checking, inspection, and troubleshooting. This enables to ensure that all components are working correctly and interacting properly with each other. Toward this end, various components that are checked and diagnosed include protection relays, transformers, wiring, breakers, and switchgears. Maintenance of each component requires different testing tools and strategies. 

Many companies operate in the substation maintenance market. Some of these are large, while others are smaller in size. Larger companies such as ABB Ltd. and Schneider Electric not only provide installation services, but also offer maintenance, repair, and upgrade services. Smaller companies in the market specialize in providing just maintenance and repair services for substations. Companies need to be certified to provide maintenance services to substations. Some companies are certified to provide services to low voltage substations, while some can provide these services to extra-high voltage substations.

Substation Maintenance Market: Key Segments

The global substation maintenance market can be segmented based on type, function, and region. Based on type, the market can be classified into low voltage, high voltage, and extra-high voltage. Substations designed for low voltage electricity supply or conversion are generally located close to end-users such as households, commercial complexes, and industries. High voltage and extra-high voltage substations are generally those which help transmit electricity across long distances. The number of extra-high voltage transmission lines is less; hence, the number of extra-high voltage substations is low. Comparatively, low voltage and high voltage substations are common. These are expected to account for larger share of the substation maintenance market in the near future. 

In terms of function, the substation maintenance market can be segmented into step-up, step-down, customer, and distribution substations. Step-up substations receive electricity supply from the power generation source and increase voltage in order to transmit it across long distances. Step-down substations are located at switching points in a transmission grid. They switch the electricity voltage to lower levels before transmitting it ahead to distribution substations, which are the last-in-line of substations before the electricity reaches end-users. Distribution substations further lower the electricity supply voltage to levels at which it can be supplied to end-users.

Substation Maintenance Market: Regional Outlook

Based on region, the substation maintenance market can be split into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The substation maintenance market can be considered to be directly related to the transmission grids available in a region. North America and Europe are regions wherein majority of the population is connected to transmission grids. Hence, the substation maintenance market is these regions is more mature vis-à-vis that in Asia Pacific, Latin America, and Middle East & Africa. A comparatively larger share of the population lives off-grid in Asia Pacific, Latin America, and Middle East & Africa. Governments in these regions are investing significantly in power generation and transmission grids to bring the population on-grid. Hence, Asia Pacific, Latin America, and Middle East & Africa also present lucrative opportunities to the substation maintenance market.

Substation Maintenance Market: Key Players

Key companies operating in the global substation maintenance market include ABB Ltd., Schneider Electric, Enersol, TransGrid, SMC, and Sterling & Wilson.

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.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Substation Maintenance Market

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