Transformers are electrical equipment that
help in fluctuating the voltage of the electric current. This is important when
a specific amount of electric current is required to be supplied to the end
users. The growth of the global transformer monitoring system market is driven
by the increasing number of power grid networks in any region. The growth of
the market is also driven by rapid installation of power transformers led by
the increased demand of energy generation from both renewable and non-renewable
sources of energy. The installation of a huge number of distributor
transformers for fulfilling the ever-increasing need for power transmission and
distribution in a cost-effective manner, is also driving the growth of the
global transformer monitoring system market. This growth can, however, be
restrained by factors such as the high investment cost for installation of transformer
monitoring systems and the high maintenance cost so as to ensure smooth
functioning and real time monitoring of such systems.
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The report for Transformer monitoring
system market of Market Research Future comprises of extensive primary research
along with the detailed analysis of qualitative as well as quantitative aspects
by various industry experts, key opinion leaders to gain the deeper insight of
the market and industry performance. The report gives the clear picture of
current market scenario which includes historical and projected market size in
terms of value, technological advancement, macro economical and governing
factors in the market.
Regional
Analysis
Asia pacific is expected to be the largest
market for transformer monitoring system due to the planned investments for the
increased power capacity utilization required in the region. The developing
nations such as India and China have invested heavily in smart grids, which is
boosting the demand for transformer monitoring solutions. Rapid urbanization
has resulted in rise in demand for power and individuals, which ultimately
results in increasing demand in the transformer monitoring market.
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Key
Players:
The key players of Transformer monitoring
system market are ABB automation company Ltd. (Switzerland,), General Electric
Company (U.S.), Schneider Electric S.E. (France), Siemens AG (Germany),
Advanced Power AG (Switzerland), BPL Global LLC (U.S.), Crompton Greaves Ltd.
(India), Dynamic Ratings Pvt. Ltd. (U.S.), Eaton Corporation Plc. (Republic of
Ireland), Echelon Corporation (U.S.), Elster Group SE (Germany), Hyosung
Corporation (South Korea) and others.
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