Transformer Monitoring System Market worth 2.68 Billion USD by 2021, at a CAGR of 12.77%

The global "Transformer Monitoring System Market" is projected to grow at a CAGR of 12.77% from 2016 to 2021, to reach a market size of USD 2.68 Billion by 2021. This growth is attributed to the digitalization of utilities, renewable investments, and smart grid initiatives.The hardware solutions segment is expected to dominate the transformer monitoring system market during the forecast period. On the hand, the IT solutions segment is expected to witness the fastest growth during the same period.

The transformer monitoring system market has been analyzed with respect to six regions, namely, North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. Asia-Pacific is expected to dominate the global transformer monitoring system market during the forecast period, owing to capacity addition and enhancement plans of the utilities in the developing countries. Moreover, countries such as India and China have invested highly in smart grids, in turn boosting the demand for transformer monitoring solutions.

The power transformer segment is expected to hold the largest share of the transformer monitoring system market, by application, during the forecast period

The power transformers segment is the largest in the applications of the transformer monitoring system market. This share is attributed to grow because of government regulations targeting the monitoring and control of the transmission networks. Remote monitoring is also a key focus area in most countries, which is driving the market.

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Oil/Gas monitoring is the largest segment for services in the global transformer monitoring system market

Oil/Gas monitoring, also known as Dissolved Gas Analysis (DGA), is the most common monitoring services for transformers, and has the largest share in the transformer monitoring system market. Other key services in the market include bushing monitoring and partial discharge monitoring, which are expected to have high-growth opportunities during the forecast period. Partial discharge analysis offers predictive maintenance instead of reactive maintenance before the actual fault occurs, leading to lesser downtime.

Asia-Pacific: The leading market for transformer monitoring system

In this report, the transformer monitoring system market has been analyzed with respect to six regions, namely, North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. Asia-Pacific is expected to be the largest market for transformer monitoring solutions; the region has the most number of developing economies with high capacity addition planned during the forecast period. Utilities are expected to adopt monitoring solutions as part of their plans for installing new transformers. Moreover, countries such as India and China have invested heavily in smart grids, in turn boosting the demand for transformer monitoring solutions.

Target audience includes:

• Transformer Manufacturing Companies
• Builders and Contractors
• Government and Industry Associations
• Investment and Consulting Firms
• Power Distribution Utilities
• Process and Manufacturing Plants
• State and National Regulatory Authorities
• State- or Government-Owned Corporations

Scope of the Report:

• By Type
  • Hardware Solutions
  • IT Solutions
• By Application
  • Distribution Transformers
  • Power Transformers
  • Others (Generator Transformer and Specialty Transformer)
• By Service
  • Oil/Gas Monitoring
  • Bushing Monitoring
  • Others (Temperature Monitoring and Partial Discharge Monitoring)
• By Region
• North America
• Europe
• Asia-Pacific
• South America
• Middle East  
• Africa

Some of the Leading Players in the transformer monitoring system market include ABB Ltd. (Switzerland), Eaton Corporation Plc. (Ireland), General Electric (U.S.), Schneider Electric (France), and Siemens AG (Germany).