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.
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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.
Asia
Pacific accounts for the highest market share
Asia-pacific region is expected to
grow rapidly in the transformer
monitoring system market owing to heavy investments into smart grids by
developing nations such as India and China. Electrification of railways in the
region is also expected to drive the transformer monitoring system market in
the region. The growth of Europe region is expected to be driven by the rapid
growth in the use of transformer monitoring for industrial process. The
increase in demand of transformer monitoring systems by the ongoing large-scale
construction projects is further expected to drive the growth of the market in
the region.
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.
Scope
of the Report
This research report has provided
the insights, on various levels of analyses such industry analysis, market
share analysis leading market players and their profiles. This report also
helps in studying the target segments by providing views on emerging &
high-growth segments and market conclusion. Together the market data comprise
and discuss with the basic assessments on the competitive scenarios &
strategies, of the global engineering plastic market, including the high-growth
regions, countries and their political, economic and technological
environments. Furthermore, the project report also provides the views over the
historical market values as well as, pricing and cost analysis of the same.
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