Global Transformer Monitoring System Market to Grow at Over 10% CAGR through 2027
A new insightful report based on transformer monitoring system titled “Transformer Monitoring System Market: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2027)” has been submitted to the repository of Market Research Reports Search Engine (MRRSE) recently. The report projects the Global Transformer Monitoring System Market to grow at over 10% CAGR during the assessment period.
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According to the report, focus on energy efficiency and favorable government policies are the key factors that are promoting the adoption of transformer monitoring systems globally. Demand for energy is growing at a brisk pace, as urbanization and growing industrialization put pressures on the existing sources of energy. In Asia Pacific, many economies are growing at high single-digit growth rates, and investments in power and infra projects has necessitated the adoption of streamlined and efficient solutions. Transformer monitoring systems have emerged as a credible option for ensuring energy-efficiency, and it is highly likely that their adoption will continue to witness a steady increase during the assessment period.
The global transformer monitoring system market is divided into various segments and sub-segments to cover all aspects of the market. These segments are product, installation type, application, end use and region. Further, the product segment has been sub-segmented into hardware (direct winding transformer monitors and intelligent transformer monitors) and software. On the basis of installation type segment, the global market is categorized into newly installed units and retrofit units. By application segment, the global is bifurcated into dissolved gas analysis, bushing monitoring, partial discharge, voltage regulation and cooling control. The end use segment is sub-segmented into power transformers, distribution transformers and other. Region wise, the global market is divided into North America, Western Europe, Latin America, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa.
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According to the report, digital winding transformer monitors are witnessing quick adoption among end-users. The digital winding transformer monitor segment is projected to grow at 10.4% CAGR through 2027. By application, bushing monitoring segment is likely to remain the most dominant, and is projected to rise at over 12% CAGR.
Some of these major companies are ABB Group, Siemens AG, Camlin Power, Maschinenfabrik Reinhausen GmbH, Groupe Cahors, MTE Meter Test Equipment AG, Mitsubishi Electric Power Products, Inc., Qualitrol Company LLC, Koncar-Electrical Engineering Institute Inc., Eaton Corporation, General Electric, CETT Co., Ltd., Advanced Power Technologies LLC and Hitachi Ltd.
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