Dissolved Gas Analyzer Market - Global Industry Analysis Size Share Growth Trends and Forecast 2014 - 2020
Albany, NY -- (SBWIRE) -- 12/09/2015 -- The global dissolved gas analyzer market has been witnessing several technological advancements since the past couple of years. Improvisation of these analyzers has created a phenomenal opportunity for the market players to capitalize on. Rising demand for DGA monitoring, government regulations regarding efficiency and safety of power transformers, and rise in investments of industrial infrastructure are some of the factors that are expected to propel the dissolved gas analyzer market in the coming years.
However, lack of awareness regarding advantages of DGA devices and high ownership cost of DGA devices are the restraining factors that are likely to curb the growth of this market to an extent. In 2013, the global dissolved gas analyzer market stood at US$277.0 million and is estimated to touch US$538.3 million by the end of 2020, growing progressively at an 11.7% CAGR between 2014 and 2020.
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The global dissolved gas analyzer market has been segmented on the basis of types of extraction such as stripper column method, head space extraction, rack method or vacuum extraction, and others (such as multiple gas extractor). In 2013, vacuum extraction method or rack method led the global dissolved gas analyzer market owing to its low cost of ownership, simple techniques, and lack of awareness among consumers regarding different extraction types.
Laboratory Services Segment Led the Global Market Due to Rising Awareness of Monitoring Transformers
On the basis of types of analyzers, the global dissolved gas analyzer market has been categorized into early warning DGA monitoring, smoke alarms, portable DGA devices, comprehensive DGA monitoring, laboratory services, and database software. Among these, laboratory services segment accounted for the largest share of the global dissolved gas analyzer market in 2013. This segment is expected to rise significantly in the near future owing to the increasing awareness regarding comprehensive transformer supervising and the increasing need of advanced process analytics in order to deal with the complex gas formation procedures in high-voltage power transformers.
According to the power rating, the global dissolved gas analyzer market has been categorized into 801 MVA – 1200 MVA, 501 MVA – 800 MVA, and 100 MVA – 500 MVA. In 2013, 100 MVA – 500 MVA power transformers segment accounted for the biggest share of the global dissolved gas analyzer market. The dominance of this segment can be attributed to its low maintenance cost and lesser need of infrastructure investment compared to the high voltage power transformers.
Asia Pacific Dominated the Global Dissolved Gas Analyzer Market in 2013
The global dissolved gas analyzer market has been geographically divided into Asia Pacific, North America, Europe, and Rest of the World.Of these regions, Asia Pacific accounted for 35% of the global dissolved gas analyzer market in 2013. The dominance of this region can be attributed to the increasing application of the dissolve gas analyzers and rising awareness towards safety. These factors are anticipated to fuel the growth of the Asia Pacific dissolved gas analyzer market. Moreover, the increasing penetration of portable analyzers in several nations such as India, South Korea, and China are projected to boost the growth of dissolved gas analyzer market in Asia Pacific between 2014 and 2020. North America held the second position in terms of market share owing to the demand for detection of fault gases in recently installed transformers and extended the life-span of aging power transformers. North America is further followed by Europe.
Some of the prominent players of the global dissolved gas analyzer market are Doble Engineering, LumaSense Technologies, General Electric, Gatron GmbH, Sieyuan Electric Co., Ltd.,ABB Ltd., Morgan Schaffer Corporation, SD Myers, Inc., Weidmann, EMH, OELCHECK GmbH, and Qualitrol LLC.
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