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Transformer Monitoring System Market Fueled By Growing Demand For Smart Grid Initiatives

02-21-2017 12:47 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: TMR Research Reports

Transformer control, monitoring and communication systems help in enhancing system and process reliability with proper implementation and design. The transformer monitoring system helps in improving safety and provides reduction in cost with private power producers and industries. Some of the key advantages of transformer monitoring systems are that it provides all time monitoring of the functioning of the transformer. The usage of the transformer monitoring system is dependent on certain conditions which involve loading conditions, power ratings. Focus of investment into digitization and smart grids are expected to further drive the demand for transformer monitoring systems. Further the transformer monitoring systems provides early intimation in case of a malfunctioning of the transformer. It provides lower risk in expensive power outages, reduced on-site inspection, improving the life of the transformer as the transformer monitoring systems helps in faster reaction time and improves preventive maintenance and better faster reaction in times of failures.

Some of the factors which are driving the transformer monitoring systems include growing demand for smart grid initiatives and digitalization of the power utilities. Some of the factors which are restraining the demand for transformer monitoring systems are high cost and low acceptance and awareness of transformer monitoring system. Growing application of offshore wind farms and growth in big data analytics are some of the key opportunity in driving the transformer monitoring system in the near future. Moreover, rise in power cuts in countries across the world has led the rise in demand for transformer monitoring systems market. Manufacturing sector require continuous power supply thus there will be requirement for transformer monitoring systems for better monitoring of the transformers to ensure better management.

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The transformer monitoring system market by application could be segmented into power transformers, distribution transformers and others. The power transformer segment in the transformer monitoring system market segmented by application led the market in 2015. Strict government regulation for controlling the transmission networks and monitoring is driving the demand for transformer monitoring systems. The transformer monitoring system market by type could be segmented into hardware solution and IT Solutions. Oil and gas monitoring, which is also termed as Dissolved Gas Analysis (DGA), is the most widely used monitoring services for transformers. Thus growing application of transformer monitoring system in the oil and gas industry is driving the demand for transformer monitoring systems. The application of transformer monitoring systems is higher for distribution transformers. Distribution and power transformers are the most important part of electrical power distribution and transmission infrastructure.

Geographically the global transformer monitoring systems market could be broadly segmented into North America, Asia Pacific, Europe, Middle East and Africa and South America. Asia Pacific held the largest market share in the transfer monitoring system market in 2015. Presence of countries like China and India which focuses a significant share of their investment in smart grids is driving the demand for transformer monitoring systems in Asia Pacific. North America and Europe followed Asia Pacific in the transformer monitoring system market. Growth in usage of transformer monitoring in industrial process is driving the transformer monitoring system market in Europe. Many large scale construction projects are underway in the Middle East which requires large transformers. These transformers require constant monitoring, thus driving the demand for transformer monitoring systems in the region.

The key players operating in the global transformer monitoring market includes Eaton Corporation Plc. (Ireland), ABB Ltd. (Switzerland), General Electric (U.S.), Siemens AG (Germany) and Schneider Electric (France). Others key players operating in the transformer monitoring system include BPL Global (U.S.), Advanced Power (Switzerland), Dynamic Rating (U.K), Crompton Greaves (India), Elster Group (Germany), Hyundai Heavy Industries (South Korea), XD Group (China), Mitsubishi Electric Japan and Tebian Electric Apparatus (China).

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

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