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

Growing energy demand has necessitated the establishment of a stable and dependable T&D network. According to the DOE and the North American Electric Reliability Corp., only a system capable of handling sudden power spikes and drops can ensure uninterrupted power. The United States experiences more blackouts than any other developed country, with power outages lasting more than an hour and increasing steadily in recent years, costing American businesses approximately USD 150 billion per year. The main causes of the rising number of blackouts are aging infrastructure, a lack of investment, and a lack of a clear policy to modernize the grid. Voltage ratings have established themselves as an industry standard for the installation of switchgear units in utilities, large-scale industries, and residential peripherals. The market for 9 kV to 15 kV MV switchgear has grown in recent years as a result of the refurbishment and retrofitting of small-scale industries and large-scale commercial establishments. Furthermore, rising energy demand favored by positive consumer inclination to invest in renewable electricity infrastructure will complement the industry landscape.

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

Based on Provider, the market is bifurcated into OEM and Aftermarket. Aftermarket accounted for the largest market share in 2020 and is projected to grow at the highest CAGR of 3.49% during the forecast period. Aftermarket includes third party MRO service provider companies that works, operates, and maintain switchgear in order to fulfill customer requirements. It also includes in-house maintenance, repair and operations (MRO) which is best practice adopted by the company itself in order to reduce downtime. The services of third-party MRO providers instead, including SDI, Storeroom Solutions and Wolseley Industrial Group. These third parties are not only helping manufacturers and distributors solve issues like buying leverage and inventory reduction by managing their storerooms and assisting them with their spare parts needs. They are also saving time and money by performing MRO services for them. The external MRO distribution operations segment led the market in 2021 and accounted for a revenue share of more than 71%. A majority of the companies are focusing on reducing the efforts of their internal departments about MRO operations.

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

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

Based on Switchgear Types, the market is bifurcated into LV (Low voltage) Switchgear, MV (Medium voltage) Switchgear, and HV (High voltage) Switchgear. LV (Low voltage) Switchgear accounted for the largest market share in 2020 and is projected to grow at the highest CAGR of 2.66% during the forecast period. Low-voltage switchgear is often found on the secondary (low-voltage) side of a power distribution transformer. This transformer and switchgear combination is known as a substation. Low-voltage switchgear is typically used to feed low-voltage motor control centers (LV-MCC), low-voltage switchboards, and other branch and feeder circuits. It is used to supply electricity for critical power and critical process applications such as those found in heavy industry, manufacturing, mining and metals, petrochemical, pulp and paper, utility, water treatment as well as data center and healthcare.

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

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

On the basis of regional analysis, the Global Switchgear Maintenance, Repair, and Operations (MRO) Market is classified into North America, Europe, Asia Pacific, and Rest of the world. Asia Pacific accounted for the largest market share in 2020 and is projected to grow at the highest CAGR of 3.44% during the forecast period. Countries like India are experiencing high demand for switchgear in the Asia Pacific area. The fast-growing electrification need for rural locations, combined with rising energy generation, has boosted the demand for diverse electrical equipment. The switchgear industry is expected to develop due to regional governments’ aggressive aims to bring electricity to remote areas. Due to increased development across residential, commercial, and industrial end-use sectors, India’s switchgear market is expected to rise at a CAGR of over ~15% through 2023. Furthermore, the country’s electrification plans, as well as the construction of transmission and distribution networks, are boosting India’s switchgear industry.

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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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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