Global Transformer Monitoring System Market Overview
Transformers
are defined as the electrical equipment’s that are helpful in fluctuating the
voltage of the electric current. Market Research Future (MRFR) has published a
research report about the global transformer monitoring system market that
predicts growth for this market at during the forecast period that would end in
2022.
The most crucial factors driving the global
transformer monitoring system market growth include the rapid installation of power
transformers and increased demand for energy generation from both renewable and
non-renewable sources of energy. Other factors contributing to the market
growth include growing demand for power and cost-effective power distribution
via transformers. However, factors that can impede the market growth include
high investment cost for installation and high maintenance cost in order to
ensure smooth functioning as well as real-time monitoring of transformer
monitoring systems.
Industry Segmentation
The
global transformer monitoring system market has been segmented on the basis of
application, service, type, and lastly, region.
The
application-based segmentation segments this market into distribution
transformers, power transformers and others. Also known as service
transformer, a distribution transformer provides the final voltage
transformation in the electric power distribution system. It reduces the
voltage used in the distribution lines to the level used by the customer.
Based
on service, the market has been segmented into bushing monitoring, oil/gas
monitoring, and others.
By
type, the market has been segmented into hardware solutions and software
solutions.
Prominent 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.
Get Full
Report at: https://www.marketresearchfuture.com/reports/transformer-monitoring-system-market-2311
Regional Outlook
The regional segmentation of
the global transformer monitoring system market segments the market into the regional
markets known as North America, Asia Pacific, Europe, and the Middle East &
Africa (MEA).
During the forecast period,
the Asia Pacific region has been anticipated to be the largest regional market
due to the planned investments for the increased power capacity utilization
required in this region. Countries like India and China are investing a lot in
smart grids, boosting the demand for transformer monitoring solutions. Other
factors contributing to the market growth in this region include rapid
urbanization, growing industrialization, and rise in demand for power. Another pivotal
country-specific market in this region is heavily industrialized Japan,
followed by the remaining countries of the Asia Pacific region.
In Europe and North America,
the market is growing due to established industries, urban setting, technological
advancement, and the presence of many key market players in these regions. In Europe,
the most important country-specific markets are France, Germany, Spain, and the
UK, followed by the remaining countries of Europe. In North America, such
markets are the USA and Canada. In the MEA region, the market is limited due to
poor countries, lack of awareness, lack of technological advancement, and lack
of education.
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