Albany, NY -- (SBWIRE) -- 10/18/2016 -- The global dissolved gas analyzer (DGA) market displays a high degree of dominance by some of the established players. This is mainly due to competitive prices offered by the established players. Some of the leading players in this market are LumaSense Technologies, General Electric, ABB Ltd., and SD Myers Inc.
Product development is on top of the growth charts of key companies in this market. They are focusing on strengthening their business base and expanding product portfolio, says a TMR analyst. Leading players are striving to introduce products that will enhance the operational capabilities of electric utilities and minimize the number of faulty transformers. An excellent example is LumaSense Technologies Inc., the company has been consistently introducing a new range of DGA monitors and enhancing their portfolio of dissolved gas analysis technology.
Business expansion through strategic partnerships is a key growth strategy that top companies in this market are adopting for expanding their product offerings and serve a wider customer base.
PDF Sample For Latest Innovation And Upcoming Advancements @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4658
Business expansion through acquisitions is also what key companies in this market are aiming at to expandi their product portfolio and gain competitive advantage. An excellent example is GE Electric, the company proactively engages in acquisition activities to complement its existing capabilities, which in turn translates into business gains.
Efforts for Electrification for Industrial Development in Emerging Economies Fuel Market Growth
A TMR analyst points out, "Government's safety and efficiency regulations for power transformers are one of the major factors driving the global DGA market." At present, the increasing demand for safer and efficient power transmission, combined with environmental considerations in power generation, has led to the formulation of international and nation-specific regulations for the same. For instance, in May 2014, the European Commission implemented the Ecodesign regulation; the regulation involves transformers to become more efficient progressively to be utilizable for their typical service life of 30 years or more.
An increasing expenditure on utility and industrial infrastructure is also contributing to the growth of this market. Efforts to increase the electrification rate in underdeveloped regions have led to the increased installation of power transformers, which in turn has increased the utilization of dissolved gas analyzers.
The increasing demand for online DGA monitoring is also propelling the growth of this market. From a leap in traditional annual or bi-annual laboratory monitoring of DGA, online DGA monitoring enables continuous monitoring of transformer performance.
Lack of Regular Monitoring of Power Transformers Prevents Complete Benefits of DGAs in Emerging Markets
"The high cost of ownership of dissolved gas analyzer devices is restraining the growth of this market," says a TMR analyst. While DGA devices offer several advantages in terms of monitoring and maintenance of power transformers, the cost of these devices is a major impediment to their utilization. However, the emergence of local players that can offer cheaper alternatives can reduce the prices of DGA for their utilization in monitoring power transformers.
Low awareness about benefits of DGA devices in emerging markets is also detrimental to the market's growth. While emerging markets are presently investing heavily in the development of smart grid infrastructure, which involves installations of transformers as well. However, due to the big gap between the installation of transformers and their periodic monitoring in emerging markets, the use of DGA methodology for detecting faults in transformers is still far from complete adoption in these regions.
The global dissolved gas analyzer market is expected to reach a valuation of US$538.3 mn by 2020. Vacuum extraction led the extraction type segment with 78.8% of the market in 2013. On the basis of analysis type, laboratory services led representing 39.2% of the market in 2013.
The information presented in this review is based on the Transparency Market Research report, titled "Dissolved Gas Analyzer Market - Global Industry Analysis Size Share Growth Trends and Forecast 2014 - 2020."
Read Market Report @ http://www.transparencymarketresearch.com/dissolved-gas-analyzer-market.html
Some of the leading players in the market are LumaSense Technologies Inc. (US), Weidmann (US), General Electric (US), Morgan Schaffer Corporation (Canada), ABB Ltd. (Switzerland), Doble Engineering (US), Gatron Gmbh (Germany), OELCHECK Gmbh (Germany), SD Myers, Inc. (US), Qualitrol Company LLC (US) EMH Energy-Messtechnik GmbH (Germany), and Sieyuan Electric Co. (China) among others.