Global MRO Switchgear Market Size By Provider (OEM and Aftermarket), Switchgear Types (LV (Low voltage) Switchgear, MV (Medium voltage) Switchgear), By Geographic Scope And Forecast

Switchgear Maintenance, Repair, and Operations (MRO) Market Size And Forecast

Switchgear Maintenance, Repair, and Operations (MRO) Market size was valued at USD 3,391.89 Million in 2021 and is projected to reach USD 4,450.57 Million by 2030, growing at a CAGR of 3.15% from 2022 to 2030.

Rising energy demand favored by positive consumer inclination to invest in renewable electricity infrastructure will complement the industry landscape. The Global Switchgear Maintenance, Repair, and Operations (MRO) Market report provide a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Switchgear Maintenance, Repair, and Operations (MRO) Market Definition

Switchgear provides high personal and operational safety, optimal availability, secure engineering, ease of operation, and high efficiency while maintaining low lifecycle costs.

MRO (maintenance, repair, and operations) service are products and materials purchased by businesses that are not directly used in their manufacturing process. These items are mostly used to keep businesses running. Spare parts, equipment, and consumables used by a MRO service provider are included in maintenance, repair, and operations (MRO). Spare parts, equipment such as components of switchgears such as circuit breakers, relays, etc., and plant upkeep supplies such as lubricants, and activities completed to restore or maintain the required equipment’s functionality are all included into the scope of the study.

Global Switchgear Maintenance, Repair, and Operations (MRO) Market Overview

We need a strong and reliable T&D network to keep up with our growing energy needs. Both the DOE and the North American Electric Reliability Corp. say that only a system that can handle sudden power surges and dips can guarantee we always have power. Unfortunately, the United States has more blackouts than any other developed country, and these outages are getting longer (lasting over an hour!) and more frequent. This is costing American businesses around USD 150 billion every year! What's causing all these blackouts? Mostly, it's our old infrastructure, a lack of investment, and the fact that we don't have a clear plan to update our power grid. Luckily, voltage ratings are now a standard for installing switchgear in places like utilities, big industries, and even our homes. The market for 9 kV to 15 kV MV switchgear is growing because smaller industries and big commercial buildings are being upgraded and retrofitted. Plus, as more people want renewable energy and are willing to invest in it, the whole energy landscape is looking brighter!

However, Environmental parameters such as temperature and humidity, as well as groundwater seepage, are some of the factors that can affect the efficiency of switchgear electrical networks, particularly those installed outdoors. The equipment must meet or exceed the rigorous specifications to ensure the reliable and proper operation of switchgear within the substation environment. As a result, the environmental condition is an important factor to consider before installing electrical devices such as switchgear.

Global Switchgear Maintenance, Repair, and Operations (MRO) MarketSegmentation Analysis

The Global Switchgear Maintenance, Repair, and Operations (MRO) Market is segmented on the basis of Provider, Switchgear Types, and Geography.

Switchgear Maintenance, Repair, and Operations (MRO) Market, By Provider

• OEM• Aftermarket

Think of the switchgear market as split into two main groupsthose who make the original equipment (OEMs) and those who handle the Aftermarket. In 2020, the Aftermarket took the biggest slice of the pie, and it's expected to grow the fastest, about 3.49% each year, going forward. The Aftermarket is where you'll find third-party MRO service companies – they keep switchgear running smoothly to meet customer needs. It also includes companies handling their own in-house maintenance, repair and operations (MRO) – a smart move to minimize downtime. Companies like SDI, Storeroom Solutions and Wolseley Industrial Group are examples of these third-party MRO providers. They do more than just help manufacturers and distributors get better deals and cut down on inventory by managing their storerooms and helping with spare parts. They also save them time and money by taking care of MRO services. In 2021, using external MRO distribution was the most popular approach, grabbing over 71% of the revenue share. It seems like most companies are trying to offload some of the MRO workload from their internal teams.

Switchgear Maintenance, Repair, and Operations (MRO) Market, By Switchgear Types

• LV (Low voltage) Switchgear• MV (Medium voltage) Switchgear• HV (High voltage) Switchgear

The switchgear market can be broken down by voltage typeLV (Low voltage) Switchgear, MV (Medium voltage) Switchgear, and HV (High voltage) Switchgear. Back in 2020, LV (Low voltage) Switchgear held the biggest piece of the pie, and we expect it to keep growing the fastest, at around 2.66% each year. You'll often see low-voltage switchgear working alongside power distribution transformers, typically on the lower voltage side. This dynamic duo is what makes up a substation! Generally, low-voltage switchgear is the go-to choice for powering low-voltage motor control centers (LV-MCC), low-voltage switchboards, and all sorts of branch and feeder circuits. It's essential for keeping the lights on and things running smoothly in critical applications like heavy industry, manufacturing, mining, petrochemical plants, paper mills, utilities, water treatment facilities, and even data centers and hospitals – basically, anywhere where a power outage is a big problem.

Switchgear Maintenance, Repair, and Operations (MRO) Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

When we look at the Global Switchgear Maintenance, Repair, and Operations (MRO) Market by region, we see it's split into North America, Europe, Asia Pacific, and the Rest of the world. Right now, Asia Pacific leads the pack, holding the biggest chunk of the market in 2020. And get this – it's expected to grow the fastest, with a CAGR of 3.44% over the next few years. Places like India are seeing a huge need for switchgear in that region. What's driving this? Well, the increasing need for electricity in rural areas and a boost in energy production are pushing demand for all sorts of electrical gear. Plus, governments in the area are pushing hard to bring power to even the most remote spots, which is also fueling growth. Speaking of India, their switchgear market is predicted to jump by over ~15% each year until 2023, thanks to all the building going on in homes, businesses, and factories. And, you know, the plans to get electricity to everyone and build better transmission and distribution networks are a major help too!

Key Players

The “Global Switchgear Maintenance, Repair, and Operations (MRO) Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Electrocomponents plc, WESCO International, Inc., W.W. Grainger, Inc., Lawson Products, Inc, Wolseley Limited, and ERIKS N.V. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In November 2020, Ferguson acquired Old Dominion Supply, Inc. and Atlantic Construction Fabrics, Inc.

• In November 2019, Ferguson acquired New York based HVAC distributor, S. W. Anderson

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