Transformer Monitoring & Diagnostic System (TMDS) Market 2023 Driving Factors Forecast Research 2029

Transformer monitoring & diagnostic system (TMDS) market is anticipated to grow at a considerable CAGR of 7.8% during the forecast period. Power transformers are one of the expensive and vital components in the power system. A sudden failure could be a very costly process for both the transformer owner and society. Transformer monitoring requires the integration of sensors, data management, and analysis to turn sensor data into useful knowledge, and then an overlay of software applications to turn knowledge into actionable information. An appropriate transformer monitoring & diagnostic system help utilities avoid unplanned failures, lower maintenance costs, and extend useful transformer life. The major factor driving the demand for transformer monitoring & diagnostic system (TMDS) is attributed to various benefits offered by TMDS such as advanced detection of abnormal conditions, providing current operational data, trends, alarm history, and messaging remotely or from a central location, supports customer preferences in transformer sensing technologies, automatically detects bad sensor data to avoid false diagnosis. For instance, ABB offers Transformer Intelligence which is a new generation of sensor and diagnostics technology to monitor and manage the electrical transformers that are essential to power transmission and distribution networks. The monitoring and diagnostics platform gives operators of electrical grids the ability to carry out reliable asset monitoring and condition-based maintenance, enabling them to optimize the lifetime of their assets. The solution includes sensors and diagnostics that can be installed as a new or retrofit solution to give operators insight into the performance of individual transformers and entire fleets. Sensors monitor the health of critical transformer components such as bushings and on-load tap-changers.

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The global transformer monitoring & diagnostic system (TMDS) market is segmented based on its product type and application. Based on its product type, the market is segmented into power transformers and distribution transformers. Based on the application, the market is segmented into residential, commercial, and industrial. Among the application, the residential sub-segment is anticipated to hold a prominent market share, The growth of the residential sub-segment is attributed to growing urbanization and expansion of power capacity in urban and local areas.

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• Market Coverage
• Market number available for - 2023-2029
• Base year- 2022
• Forecast period- 2023-2029
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Market Segmentation
Global Transformer Monitoring & Diagnostic System (TMDS) Market by Product Type
o Power Transformers
o Distribution Transformers

Global Transformer Monitoring & Diagnostic System (TMDS) Market by Application
o Residential
o Commercial
o Industrial

Regional Analysis
o North America
o United States
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
o Rest of the World

Company Profiles
o ABB Group
o Advanced Power Technologies
o Camlin Group
o Eaton Corp.
o EMCO ELECTRONICS
o Honeywell International Inc.
o HZ Electric Supply
o KJ Dynatech Inc.
o Qualitrol Company LLC
o S&C Electric Co.
o Siemens Gas and Power GmbH & Co. KG
o The General Electric Company
o Weidmann Electrical Technology AG
o Wilson Transformer Company Pty Ltd.

The Report Covers
• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global transformer monitoring & diagnostic system (TMDS) market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

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