Friday, 29 March 2019

Transformer Monitoring System Market: Robust Expansion by Top Key Manufactures| Worldwide Overview By Global Industry Demand and Regional Trends 2022


Market Highlights
The global transformer monitoring system market is growing due to its enhanced features such as improving safety and providing reduction in cost. Transformer monitoring systems provide real time monitoring of the transformer functioning, which further contributes to the growth of the market. Huge investments into digitization and smart grids are expected to further drive the demand for transformer monitoring systems. The ability of transformer monitoring systems to provide early intimation in case of malfunctioning of the transformers, also contributes to the growth of the market. The abilities of transformer monitoring systems to lower the risk in case of expensive power outages, to reduce on-site inspection, and to improve the life of the transformers help in improving preventive maintenance and faster reaction in times of failures.


Industry Overview
The growth of the global transformer monitoring system market is attributed to factors such as the digitalization of power utilities and the rapidly increasing demand of smart grid initiatives. The market is expected to grow further during the forecast period with the increase in use in offshore wind farms and the growth in big data analytics. The rise in power cuts is also creating a demand for transformer monitoring systems. The market is also expected to grow due to increased demand from the manufacturing sector for continuous power supply and better monitoring of transformers for ensuring timely and better production in the manufacturing plants. The growth of the market is restrained by the low awareness among users of transformers and the high installation costs.


Industry Segmentation
The report has been analyzed based on the types, services, applications and regions. Among applications, the distribution transformers segment is expected to grow rapidly. Both power and distribution transformers, form a fundamental part of the electric power transmission and distribution infrastructure. The number of distribution transformers is more than that of power transformers in any network. Therefore, increase in the construction of new power transmission and distribution infrastructures is expected to result in an increased demand for distribution transformers.

Regional Outlook
The Asia Pacific region is expected to dominate the global transformer monitoring solutions market during the forecast period, owing to rapid pace of power utilities and increasing incorporation of monitoring solutions into their existing transformers. Developing nations such as India and China are expected to foster the need for efficient electric power supply,   which is expected to result in market growth during the forecast period.

Key Players
The key players of Global Transformer monitoring system market are ABB automation company (Switzerland,), General Electric Company (U.S.), Schneider Electric SE (France), Siemens AG (Germany), Advanced Power AG (Switzerland), BPL Global  LLC (U.S.), Crompton Greaves Ltd. (India), Dynamic Ratings (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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