Market study report titled Global Transformer Monitoring System Market Growth 2019-2024 recently published by Fior Markets is a valuable one for the stakeholders to take advantage of it. The report serves key information about the industry, current situation and upcoming market condition, expert opinions, and the latest developments across the globe.
A transformer is an electrical equipment that helps in varying the voltage of the electric current. This stepping up and stepping down of the voltage is especially important when a safe amount of electric current is required to be supplied to the end users. In order to ensure continuous and safe transmission of electricity from the power generation plant to the end users, the transformers utilized for this purpose have to be monitored continuously in real time. This is achieved by installing a transformer monitoring system within a transformer housing. Requirement of a transformer monitoring system is especially important when faults and anomalies within the grid or circuit have to be detected before the complete breakdown of the transformer occurs. These transformer monitoring systems are especially prevalent in areas where the supply of electric power is erratic and power outages are common, thereby signifying a healthy demand for the system in the third world countries.
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As international economic situation is complicated, in the next few years there will be many uncertainties. Due to the government’ policy and the high sales of Transformer Monitoring System in the international market, the current demand for Transformer Monitoring System product is relatively stable in the mature market, such as North America and Europe, but the demand in Asia-Pacific is relatively higher due to the downstream demand.
Transformer Monitoring System is mainly manufactured and sold by ABB, GE, Siemens, Eaton, Alstom, Weidmann, Schneider Electric, Mitsubishi, Koncar, Schweitzer Engineering Laboratories, LGOM ; and these companies occupied about 83.96% market share in 2017.
Geographically, Europe is the largest consumption market in the world, which took about 37.49 percent of global total revenue.
Although sales of Transformer Monitoring System brought a lot of opportunities, the study group recommends the new entrants who just having money but without technical advantage and downstream support, do not to enter into the Transformer Monitoring System field hastily.
According to this study, over the next five years the Transformer Monitoring System market will register a 9.5% CAGR in terms of revenue, the global market size will reach US$ 2970 million by 2024, from US$ 1720 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Transformer Monitoring System business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Transformer Monitoring System market by product type, application, key manufacturers and key regions and countries.
Global Transformer Monitoring System market competition by top manufacturers/players includes: ABB, GE, Siemens, Eaton, Alstom, Schneider Electric, Mitsubishi, Koncar, Schweitzer Engineering Laboratories, LGOM.
Market segmentation with product type are: DGA devices, Bushing Monitoring, Temperature Via Fiber Optic, Monitoring integrators, Others
Market segmentation with end users/applications are: Power Generation Transformer, Transmission & Distributor Transformer, Others
Key Features of The Market Report:
- Extensive analysis of the Transformer Monitoring System market and market size estimates for decision makers so that they can form profitable and effective business plans.
- Landscaping of market considering aspects such as restraining factors, development, and tentative activities
- Profound studies on progressing market segments
- Key assessment acknowledges the market with price, products, supply, and demand are well presented in this report.
Furthermore, the study tracks the product life cycle as well as discusses recent product innovations and offers an overview. In the final section, the report adds key developments, company overview, SWOT analysis, investment feasibility analysis, and development trend analysis that has given the boost to Transformer Monitoring System business in order to offer new openings and welcomes new players including both startups and established firms. The global industry analysis, manufacturers’ analysis, industry development trend, sales demand and forecast to 2024 are also depicted in the report.
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