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.
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.
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.
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.
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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