Global transformer monitoring system market is expected to reach USD 2.53 billion in 2022, growing at a CAGR of 11.7% between 2017 and 2022.
The report covers forecast and analysis for the transformer monitoring system market on a global and regional level. The study provides historic data from 2014 to 2016 along with a forecast from 2017 to 2022 based on revenue (USD billion). The study includes drivers and restraints for the transformer monitoring system market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the transformer monitoring system market on a global level.
In order to give the users of this report a comprehensive view on the transformer monitoring system, we have included a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the transformer monitoring system market has also been included. The study encompasses a market attractiveness analysis, wherein product segments are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view on the Transformer Monitoring System market by segmenting the market based on equipment and end users. All the segments have been analyzed based on present and future trends and the market is estimated from 2016 to 2022. Key application segments covered under this study include transmission & distribution transformer, power generation transformer, and others. On the basis of type, the market has been segmented into services and hardware solution. The regional segmentation includes the current and forecasted demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region has been further segmented into 18 countries such as the U.S., Canada, Mexico, the U.K., France, Germany, Russia, Poland, Ukraine, China, India, Japan, South Korea, ASEAN, Brazil, Argentina, GCC, South Africa, and others. This segmentation includes demand for transformer monitoring system based on individual applications and types in all the regions.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Some of the major players involved in the global transformer monitoring system market include ABB Ltd., Eaton Corporation PLC, General Electric., Honeywell International Inc., HZ Electric Inc., KJ Dynatech Inc., S&C Electric Company, Schneider Electric, Schweitzer Engineering Laboratories, Inc., Shanghai Kai People Electric Co., Ltd., Mitsubishi Corporation, Ningbo Ligong Online Monitoring Technology Co., Ltd., Siemens AG and Wilson Transformer Company
This report segments the global Transformer Monitoring System market as follows:
Transformer Monitoring System Market: Type Analysis
Transformer Monitoring System Market: Applications Analysis
Transformer Monitoring System Market: Regional Analysis
This report is based on in-depth qualitative and quantitative analyses of the global Transformer Monitoring System market. Zion Research has collected and analyzed key data belong to the global Transformer Monitoring System market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Transformer Monitoring System across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Transformer Monitoring System industry. Primary research makes up the major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Transformer Monitoring System market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
The transformer monitoring system is defined as an assembly of components built together in order to sense and monitor different parameters of a pole mounted transformer or ground transformer that is essential to its functionality. Generally, the transformer monitoring system has the capability of monitoring the transformer’s current, voltage, phase angle, and temperature among others. The overall goal of the transformer monitoring system is to efficiently and accurately read and record valuable information about pole mounted transformer or those which lie on the ground. Transformer monitoring system is a real time device that monitors a transformer. To lower electrical downtime of a power generation unit this device surface approach for a smarter grid system technology.
The transformer monitoring system is segmented on the basis of type and applications. On the basis of type, the global transformer monitoring system market is segmented into services and hardware. Hardware market segment held the largest market share due to huge demand across the globe during the forecast period. Services segment is expected to observe the fastest growth during the forecast period. On the basis of application, the transformer monitoring system market is segmented into transmission & distribution transformer, power generation transformer, and others. Others include specialty transformer and generator transformer. Power generator transformer segment is estimated to account for the largest transformer monitoring system market shares among all the applications. The power transformer is qualified to government policy targeting the monitoring and control of transmission network.
Increasing demand for renewable investment and smart grid initiatives are expected to remain major driving factors for the growth in transformer monitoring system market. Cost barriers could be restraining factors for the transformer monitoring system market. The global transformer monitoring system market offers new growth opportunities, due to development of big data analytics and offshore wind farms. The technology of transformer monitoring system has been advanced to a location where it can have a major effect on modern life. The growth of power grid network depends on the growth of transformer monitoring system market in any location.
Based on regional segmentation, Asia Pacific was the most attractive and largest market for transformer monitoring system in 2016. In the Asia Pacific region countries such as India and China have registered huge demand for energy requirement making it an attractive aspect for the growth of the transformer monitoring system market. As a part of their plans for installing a new transformer, utilities are expected to implement monitoring solutions. In the developed regions such as North America, Western Europe, and Japan the market of transformer monitoring system may expect a slow growth due to the maturity attained in the power demands and power grid network.
Some of the major players involved in the global transformer monitoring system market include ABB Ltd., Eaton Corporation PLC, General Electric, Honeywell International Inc., HZ Electric Inc., KJ Dynatech Inc., S&C Electric Company, Schneider Electric, Schweitzer Engineering Laboratories, Inc., Shanghai Kai People Electric Co., Ltd., Mitsubishi Corporation, Ningbo Ligong Online Monitoring Technology Co., Ltd., Siemens AG and Wilson Transformer Company
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