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.
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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.
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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.
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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.
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