Press release
Dissolved Gas Analyzers Market: Efforts for Electrification for Industrial Development in Emerging Economies Fuel Market Growth
Business expansion through acquisitions is also what key companies in this market are aiming at to expandi their product portfolio and gain competitive advantage. An excellent example is GE Electric, the company proactively engages in acquisition activities to complement its existing capabilities, which in turn translates into business gains.
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Efforts for Electrification for Industrial Development in Emerging Economies Fuel Market Growth
A TMR analyst points out, “Government’s safety and efficiency regulations for power transformers are one of the major factors driving the global DGA market.” At present, the increasing demand for safer and efficient power transmission, combined with environmental considerations in power generation, has led to the formulation of international and nation-specific regulations for the same. For instance, in May 2014, the European Commission implemented the Ecodesign regulation; the regulation involves transformers to become more efficient progressively to be utilizable for their typical service life of 30 years or more.
An increasing expenditure on utility and industrial infrastructure is also contributing to the growth of this market. Efforts to increase the electrification rate in underdeveloped regions have led to the increased installation of power transformers, which in turn has increased the utilization of dissolved gas analyzers.
The increasing demand for online DGA monitoring is also propelling the growth of this market. From a leap in traditional annual or bi-annual laboratory monitoring of DGA, online DGA monitoring enables continuous monitoring of transformer performance.
Lack of Regular Monitoring of Power Transformers Prevents Complete Benefits of DGAs in Emerging Markets
“The high cost of ownership of dissolved gas analyzer devices is restraining the growth of this market,” says a TMR analyst. While DGA devices offer several advantages in terms of monitoring and maintenance of power transformers, the cost of these devices is a major impediment to their utilization. However, the emergence of local players that can offer cheaper alternatives can reduce the prices of DGA for their utilization in monitoring power transformers.
Low awareness about benefits of DGA devices in emerging markets is also detrimental to the market’s growth. While emerging markets are presently investing heavily in the development of smart grid infrastructure, which involves installations of transformers as well. However, due to the big gap between the installation of transformers and their periodic monitoring in emerging markets, the use of DGA methodology for detecting faults in transformers is still far from complete adoption in these regions.
The global dissolved gas analyzer market is expected to reach a valuation of US$538.3 mn by 2020. Vacuum extraction led the extraction type segment with 78.8% of the market in 2013. On the basis of analysis type, laboratory services led representing 39.2% of the market in 2013.
The information presented in this review is based on the Transparency Market Research report, titled “Dissolved Gas Analyzer Market - Global Industry Analysis Size Share Growth Trends and Forecast 2014 - 2020.”
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