Industry Outlook

The global transforming monitoring systems market was valued US$ 1490.3 Mn in 2017 and expected to grow at a Compound Annual Growth Rate (CAGR) of 10.8% during the forecast period from 2018 to 2026.  The projected growth can be largely credited  to several upcoming smart grid infrastructure projects and risisng popularity of non-conventinal energy resources across the globe. The ever-increasing demand for uninterrupted energy supply has encouraged several nations worldwide to explore new avenues for electricity generation and management. The existing electricity infrastructure is witnessing a paradigm shift from conventional to smart electrification systems in view of growing need for conserving energy and curbing environmental damage. Transformer monitoring systems continuously monitor parameters such as thermal modeling, dissolved gas analysis, partial discharge analysis, cooling, current and voltage flow and brushing monitoring. These parameters aids in evaluating the operating condition of transformers and avert potential breakdowns.

Being a vital part of an electric generation and distribution unit, failure of transformers can lead to extended power outages, environmental hazards and expensive overhauling. Transformer monitoring systems are incorporated in power generation and distribution units to address aforementioned issues and related expenses. Thus, demand for transformer monitoring systems is expected to grow consistently with expansion of electrical infrastructure. Transformer monitoring system manufacturers are focusing on enhancing the reliability of their products by incorporating modern day electronics and control systems within monitoring systems. Integration of cloud computing and big data analytics has facilitated precise evaluation of transformer health condition through system automation and real-time remote monitoring. Owing to the aforementioned features and merits offered, demand for transformer monitoring systems is expected to grow consistently among utilities in the following years.

"Rising energy demand and consequent increase in power generation plants to aid demand for power transformer monitoring systems"

In 2017, power transformer monitoring systems led the overall transformer monitoring systems market in terms of market value. The electricity generation infrastructure is witnessing continuous expansion and up-gradation worldwide. Governments across several nations have undertaken projects for modernizing/upgrading their aging power grid infrastructure. In order to avoid power outages and expenses associated with transformer failures, transformer monitoring systems have been increasingly integrated into the power systems. The trend is expected to continue and the segment is anticipated to continue leading the market in the following years. Rapidly growing urbanization, industrialization, and consequent rise in energy demand has encouraged governments across the globe to undertake several electrification projects. This has had positive impact on demand for both power transformers and distribution transformers. Subsequently, demand for monitoring systems for respective variants (power transformers and distribution transformers) will witness a surge in the coming years.

"Expansion of electricity infrastructure to aid growth in Asia Pacific"

Asia Pacific dominated the overall transformer monitoring market in 2017. The market in Asia Pacific is majorly backed by demand from several developing countries including China and India. Several other countries in the region are also focusing on strengthening their electricity infrastructure to limit losses arising from issues such as power outages and system breakdown. Rapid expansion of electricity infrastructure has rendered this region as the most attractive market for transforming monitoring systems. Being an integral part of smart grids, transformer monitoring systems are expected to grow consistently throughout the forecast period from 2018 to 2026.

In terms of value contribution, North America trails Asia Pacific in the global transformers monitoring systems market. North America is relatively a mature market and expected to experience a slow and steady growth throughout the forecast period from 2018 to 2026. Increased integration of smart systems with existing electricity infrastructure in order to ensure uninterrupted electricity supply has fueled growth of the transformer monitoring systems market in North America. In addition, various non-conventional energy projects and recent overhauling of electricity infrastructure after natural calamities have collectively fueled market momentum.

Several leading transformer monitoring systems manufacturing companies are profiled thoroughly in this report along with their key developments, strategies and market positioning in order to aid the strategic decision makers. Some of the major transformer monitoring system manufacturers profiled in the research study include ABB Group, Advanced Power Technologies LLC, Camlin Power Ltd., EMCO ELECTRONICS LLP, Eaton Corporation Plc, EDMI Ltd., GE Power, HZ Electric Inc., Honeywell International, Inc., KJ Dynatech, Inc., Koncar- Electrical Engineering Institute, Inc., Schweitzer Engineering Laboratories, Inc., Siemens AG, S&C Electric Company, Inc. and Wilson Transformer Company Pty Ltd.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Transformer Monitoring Systems market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Transformer Monitoring Systems market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Transformer Monitoring Systems market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Transformer Monitoring Systems market?
• Which is the largest regional market for Transformer Monitoring Systems market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Transformer Monitoring Systems market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Transformer Monitoring Systems market worldwide?