- 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
Request a sample to get extensive insights into the Switchyard Maintenance Market
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.
- 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.
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.
To understand how our report can bring difference to your business strategy, Ask for a brochure
Key Players Operating in Market
Leading players operating in the global switchyard maintenance market include:
- AMPCONTROL LIMITED
- 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
Global Switchyard Maintenance Market: Research Scope
Global Switchyard Maintenance Market, by Maintenance Type
- Breakdown Maintenance
- Preventive Maintenance
Global Switchyard Maintenance Market, by Service
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
- 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.