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 report segments the transformer monitoring system market based on type into hardware solutions and IT solutions. 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.
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 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.
Digitalization of utilities, renewable investments, and smart grid initiatives are expected to drive the growth of the transformer monitoring system market. Local companies providing low-quality transformer monitoring system in countries such as China and other south Asian countries provide stiff competition to global market players. Manufacturing of low-quality transformer monitoring systems by local manufacturers affects the revenue of established players.
- ABB Ltd.
- Eaton Corporation PLC
- General Electric
- HZ Electric Inc
- Honeywell International Inc.
- KJ Dynatech Inc
- Kirloskar Electric Company Limited
- Mitsubishi Corporation
- Ningbo Ligong Online Monitoring Technology Co., Ltd
- S&C Electric Company
- Schneider Electric
- Schweitzer Engineering Laboratories, Inc
- Shanghai Kai People Electric Co., Ltd.
- Siemens AG
- Wilson Transformer Company
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Transformer Monitoring System Market, By Type
7 Transformer Monitoring System Market, By Application
8 Transformer Monitoring System Market, By Service
9 Transformer Monitoring System Market, By Region
10 Competitive Landscape
11 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/bhftqr/wiretoboard
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets