March 28, 2020

Transformer Monitoring Systems Market Is Expected To Projected US$ 3731.6 Mn By 2026

According to a new market research report published by Credence Research “Transformer Monitoring Systems Market – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the market for global transformer monitoring systems is estimated to reach US$ 3731.6 million in 2026.

Market Insights

Demand for uninterrupted supply of electricity across a wide range of industry verticals has increased with increasing energy demand. To meet ever-increasing energy demand, governments around the world are exploring new avenues, such as non-conventional energy sources and smart infrastructure. Transformer monitoring systems are increasingly being deployed at power stations / plants to ensure uninterrupted transmission and distribution of electricity. Continuous urban expansion and almost endless demand for electricity supply have encouraged governments around the world to incorporate transformer monitoring systems into their existing electricity generation and distribution infrastructure.

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Transformer monitoring systems help to evaluate the performance of transformers and prevent potential hazards that may arise from malfunctioning. In 2016, in the U.S. amusement park, a power outage due to a transformer failure left several riders on their rides for long hours. Similarly, a fault in the transformer resulted in power cuts for nearly 200 families in Rotorua Central, New Zealand, in 2017. Such power outage incidents due to the failure of the transformers can be prevented by integrating the monitoring systems into the electrical infrastructure. In addition, these systems prevent valuable waste of time and costs associated with the breakdown of transformers by monitoring their operational performance in real time. The integration of advanced electronic control systems and big data analytics has enhanced the performance of modern transformer monitoring systems. Due to the merits and reliability of the transformer monitoring systems, their demand is expected to rise during the forecast period from 2018 to 2026.

Competitive Insights:

Transformer monitoring systems market is fragmented and characterized by the presence of several international players. The manufacturers are focusing on acquiring contracts for smart power and distribution grid renovation projects. Companies are integrating advanced electronics and control systems in transformer monitoring systems, thereby enhancing its reliability. Transformer monitoring system manufacturers have been trying to compensate high setup cost of their products by enhancing the performance and expanding service offerings. Major players in transformer monitoring systems market include ABB Group, Advanced Power Technologies LLC, Camlin Power Ltd., Eaton Corporation Plc, EMCO ELECTRONICS LLP, GE Power, EDMI Ltd., Honeywell International, Inc., HZ Electric Inc., KJ Dynatech, Inc., Koncar- Electrical Engineering Institute, Inc., Schweitzer Engineering Laboratories, Inc., S&C Electric Company, Inc., Siemens AG and Wilson Transformer Company Pty Ltd.

Key Trends:

  • Continuously rising demand for uninterrupted electric supply worldwide
  • Growing focus on using non-conventional energy sources to fulfill ever-increasing energy needs
  • Expansion of existing transmission and distribution infrastructure
  • Technological innovations in pre-existing products to improve system performance
  • Growing demand from commercial end-use vertical boosting the overall transformer monitoring systems market
  • Integration of enhanced control system and big data analytics to make transformer monitoring systems more reliable

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[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Report Scope by Segments

By Application Segment

  • Power Transformers
  • Distribution Transformers

By End-use Verticals Segment

  • Residential
  • Industrial
  • Commercial

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

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