Transformer Monitoring System Market Share, Size and Forecast Report, 2022 to 2030
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July 2022
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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
Direct Winding Transformer Monitors
Intelligent Transformer Monitors
Software
Synthetic Ester
Natural Ester
Silicon Fluids
Others
By Installation Type
Retrofit Units
By Application
Partial Discharge (PD)
Bushing Monitoring
Cooling Control
Voltage Regulation
By End Use
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:
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.
Frequently Asked Question
What is the projected market size & Compound Annual Growth Rate (CAGR) of the transformer monitoring system 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%.
Which base year is used in the transformer monitoring system market report?
The base year for the report is 2021 in transformer monitoring system market.
What segments are covered in transformer monitoring system market report?
The transformer monitoring system market is segmented on the basis of product type, transformer fluid type, installation type, application, end use, and region.
What are the key participating players in the transformer monitoring system market?
some of the key participating players in the transformer monitoring system market globally are ABB, Siemens AG, General Electric, Maschinenfabrik Reinhausen GmbH, and Groupe Cahors S.A., among others.
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