Transformer Monitoring System Market 2019 Leading Players: Advanced Power AG, BPL Global LLC, Crompton Greaves, Dynamic Ratings, Eaton Corporation Plc., Echelon Corporation
Analyzing the market structure, this report gauges the future growth potential of the market. It monitors the plans of the key players in the market and supports the competitive developments like joint ventures, new product developments, mergers & acquisitions, research and developments (R&D) in the market.
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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.
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).
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.
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.
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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