Transformer Monitoring System Market

Transformer Monitoring System Market

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Transformer Monitoring System Market Overview

The report is titled as ‘Transformer Monitoring System Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual frameworks, analytical approaches of the Transformer Monitoring System market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market.

The transformer monitoring system market is estimated to reach at a value of US$ 2.9 Bn by the end of 2022 and expected to reach at a value of US$ 7.0 Bn by 2030 with a significant CAGR of 11.8%.

Transformer Monitoring System Market Introduction

Transformers are essentially key resources in the power grid and industrial processes. Transformers basically serve their utility in continually regulating the flow of electricity distribution as well as transmission. Thus, the transformer monitoring system holds a crucial role as it keeps a check on the health of transformers. With the help of a transformer monitoring system, several uninterrupted operations can be administered taking place in the transformer by means of IoT based application.

In addition to that, the transformer monitoring system helps in detecting and replacing the defective equipment prior to the failure or entire breakdown and maintains the continuity of power supply without collapse.

There are different sensors equipped in this system to regulate and watch the internal continuing functions in the system. Attributing to all such beneficial factors, the transformer monitoring system offers more reliability, data storage as well as operational safety which has majorly surged up the number of installations of transformer monitoring systems all across the world. Thus, the global transformer monitoring system market is projected to witness significant growth over the following years.

Based on regional segmentation, Asia-Pacific region is accounted to hold the largest market share in the year 2021, and expected to maintain its dominance throughout the forecast period (2022 – 2030). Mainly due to the increase in capacity and expansion plans of the utilities mainly in the developing countries. Besides this, high investment in smart grids mainly in the countries like India and China is expected to drive the growth of the market in the region

Transformer Monitoring System Market Segmentation

The transformer monitoring system market is segmented on the basis of product type, transformer fluid type, installation type, application, end use, and region.

By Product Type

Hardware

Direct Winding Transformer Monitors

Intelligent Transformer Monitors

Software

By Transformer Fluid Type

Mineral Oils

Synthetic Ester

Natural Ester

Silicon Fluids

Others

By Installation Type

Newly Installed Units

Retrofit Units

By Application

Dissolved Gas Analysis (DGA)

Partial Discharge (PD)

Bushing Monitoring

Cooling Control

Voltage Regulation

By End Use

Power Transformers

Distribution Transformers

Other Transformers

By Region

North America

Latin America

Europe

Asia Pacific

Middle East

Africa

Transformer Monitoring System Market Key Players

Some of the key participating players in transformer monitoring system market are:

ABB Ltd.

Eaton Corporation PLC.

General Electric

Schneider Electric

Siemens AG

Hitachi Energy

Honeywell International, Inc.

Kirloskar Electric Company Limited

Mitsubishi Corporation

HZ Electric, Inc.

KJ Dynatech, Inc.

Ningbo Ligong Online Monitoring Technology Co., Ltd.

S&C Electric Company

Schweitzer Engineering Laboratories, Inc.

Shanghai Kai People Electric Co., Ltd

Wilson Transformer Company

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product developments and launches

Global Energy Industry Outlook

Top Companies Historical Growth Rate

Pricing Impact

Impact of Regulations

Advantages of Transformer Monitoring System

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s product sales, previous growth rates and market expansion plans are considered to generate market share in the market.


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Frequently Asked Questions

The transformer monitoring system market is estimated to reach at a value of US$ 2.9 Bn by the end of 2022 and expected to reach at a value of US$ 7.0 Bn by 2030 with a significant CAGR of 11.8%.

The base year for the report is 2021 in transformer monitoring system market.

The transformer monitoring system market is segmented on the basis of product type, transformer fluid type, installation type, application, end use, and region.

ABB Ltd., Eaton Corporation PLC., General Electric, Schneider Electric, Siemens AG, Hitachi Energy, Honeywell International, Inc., Kirloskar Electric Company Limited, Mitsubishi Corporation, HZ Electric, Inc., KJ Dynatech, Inc., Ningbo Ligong Online Monitoring Technology Co., Ltd., S&C Electric Company, Schweitzer Engineering Laboratories, Inc., Shanghai Kai People Electric Co., Ltd and Wilson Transformer Company



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