A transformer is an equipment that is used in varying the voltage of an electric current. This variation of steeping up and down of the voltage is an important part of the process, especially when a safe quantity of electric current is needed to be supplied to the users. The transformer used to ensure the continuous and safe transmission of electricity from power generation plants to the users is monitored continuously in real time. This is attained by installing the transformer monitoring systems inside the transformer house. A transformer monitoring system is needed when the faults within the grid and circuit are to be detected before the complete breakdown of transformers occurs. The transformer monitoring systems are largely important in the areas where the supply of electric power is inconsistent and power outages are common.
The global transformer monitoring systems market is driven by the growth of power grid network across the globe. The global transformer monitoring systems market is also driven by the growing energy demands which in turn has led to increase in generation of electrical energy using both renewable as well as non-renewable sources. The increasing number of installations of power transformers is expected to augment the growth of global transformer monitoring systems market over the forecast period. The changing lifestyle of people and increasing populations is also expected to fuel the growth of global transformer monitoring systems market in the near future. The power transmission and distribution companies have extended their network grid so as to accomplish the needs of the consumers and reach every probable customer leading to further surge in installations of distributor transformers. The cost intensive investments is involved in transformer monitoring systems and hence require knowledgeable and qualified people so as to understand the operations of these systems. This is expected to hamper the growth of the market over the forecast period. One of the major restraints to the growth of global transformer monitoring systems market is the maintenance required to ensure smooth functioning.
The global transformer monitoring systems market is classified on the basis of service, type, application, and regions. On the basis of type, the global transformer monitoring systems market is segmented into IT solution, and hardware solution. Based on service, the market is segmented into bushing monitoring, oil or gas monitoring, and others. On the basis of application, the global transformer monitoring systems market is segmented into power transformer, distribution transformers, and others.
The market for transformer monitoring systems is bifurcated based on five regions namely North America, Europe, Asia-Pacific, Latin America and Middle East. Asia Pacific is the major player in the transformer monitoring systems market. Latin America is expected to grow at significant rate over the forecast period.
Some of the key players in global transformer monitoring systems market Siemens AG, Vitzro C&C, General Electric Company, HZ Electric Inc, Wilson Transformer Company, Wicor Holding AG, ABB Group, Maschinenfabrik Reinhausen gmbh, Schweitzer Engineering Laboratories, Inc, CETT Co., Ltd, MTE Meter Test Equipment AG, Camlin Power Ltd., and ZTZ Services International.
The global transformer monitoring systems market is segmented
• Bushing monitoring
• Oil or gas monitoring
• IT solution
• Hardware solution
• Power transformer
• Distribution transformers
• North America
• Latin America
• Middle East