Transformers are defined as the electrical equipments 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.
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Industry Highlights
Transformers are an electrical component used to
increase or decrease the voltage of the electric current in the mainline grid.
The role of transformers in large-scale electricity distribution systems is
enormously important. A significant amount of electrical energy is lost during
long-distance transmission of an electric current. However, this wastage can be
minimized by maximizing the voltage during long-distance transmission. Thus,
transformers are used to “step up” the voltage in a mainline grid system before
the electricity is sent across the board to the various branches of the grid
system. This ensures minimal power loss during transmission. However, the high
voltage maintained during long-distance transmission cannot operate household
appliances, as the latter run on a lower level of voltage. Thus, transformers
are also used in the reverse operation of reducing the voltage in the current,
known as “stepping down”, before the electricity is sent to individual end
users.
Transformer Monitoring System
Market Segmental Analysis:
The global transformer
monitoring system market has been segmented on
the basis of type, service, application, and region.
By Types
- Hardware Solutions
- Software Solutions
By Service
- Oil/Gas Monitoring
- Bushing Monitoring
- Others
By Application
- Distribution
Transformers
- Power Transformers
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Middle East &
Africa
- South America
Transformer
Monitoring System Regional Industry Analysis
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.
Prominent Players
The key players in the
global transformer monitoring system market include ABB automation company Ltd.
(Switzerland), Advanced Power AG (Switzerland), BPL Global LLC (USA), Crompton
Greaves Ltd. (India), Dynamic Ratings Pvt. Ltd. (USA), Eaton Corporation Plc.
(Republic of Ireland), Echelon Corporation (USA), Elster Group SE (Germany),
General Electric Company (USA), Hyosung Corporation (South Korea), Schneider
Electric S.E. (France), and Siemens AG (Germany).
Browse Transformer Monitoring System Industry
Research Report at: https://www.marketresearchfuture.com/reports/transformer-monitoring-system-market-2311
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