Top Players in Transformer Monitoring System Market are Schneider Electric, Siemens, GE, ABB, Honeywell, KONCAR Group, Eaton, Bitlismen, Qualitrol, hioTron, Mitsubishi Electric Automation, Inc., Lumasense, Dynamic Ratings, and Creative MicroSystems
Pune, India -- (SBWIRE) -- 03/25/2020 -- The global transformer monitoring system market will derive growth from recent product advancements. According to a report by Fortune Business Insights, titled "Transformer Monitoring System Market Size, Share and Global Trend by Type (Hardware, Software) By Service (Oil/Gas Monitoring, Bushing Monitoring, Temperature Monitoring, Partial Discharge Monitoring), By Application (Distribution Transformers, Power Transformers, Others) and Geography Forecast till 2026," the market will derive growth from the increasing demand for energy across the world.
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The report encompasses several factors that have contributed to the growth of the market in recent years. It also discusses a few of the factors that have restrained market growth. Besides this, the report highlights a few of the leading products, major companies, and major industry developments of recent times. The competitive landscape scenario has been discussed in detail. The report provides forecast values for the market for the period of 2019-2026. The report identifies areas that have witnessed the highest demand and applications for the product in recent years.
List of the leading companies that are operating in the market are:
Mitsubishi Electric Automation, Inc.
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The demand for electricity has risen dramatically over the past few decades. The increasing industrialization has created several opportunities for the growth of the companies operating in the market. An increasing number of industrial manufacturing units, increasing technological advancements and the increasing adoption of electrical and electronic devices have contributed to the growing energy needs. Transformers are used to regulate the flow of electricity. They are integral in places where high voltages are required. The increasing demand for transformers will create a subsequent demand for transformer monitoring systems across the world. A transformer monitoring system is used to control and monitor the condition and status of a transformer and provide real-time data, with regard to these factors.
Key Industry Developments:
December 2018: H2scan announced a launch of a new product, aimed at reducing the risks of an explosion in high voltage transformers. The company launched the Gen 5 System, a product that is compatible with several transformers.
"Increasing Product Adoption Across Major Sub-stations to Aid Growth"
The report summarizes factors that have accounted for the growth of the market in recent years and labels factors that have made a higher impact than others. In July 2019, the Nepal Electricity Authority (NEA) announced its plans to install smart transformer monitoring systems for study and monitor of its substations and major transformers across the city. This will help the authorities access data related to the transformers and substations and providing readings for off pick loading and pick loading voltages. With the integration of smart transformer systems, the NEA aims to optimize transformer monitoring systems and allow enhanced operations. The report encompasses activities, similar to NEA's latest plans and gauges their impact on the global market.
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"Asia Pacific Held the Highest Share; Increasing Demand for Energy to Create Several Opportunities for Growth"
The report segments the market on the basis of regional demographics into Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, Asia Pacific held the highest transformer monitoring systems market share in 2018. The increasing demand for energy across several industries will open up a huge potential for market growth. The growing population, coupled with increasing urbanization, will aid the growth of the market in this region. Besides Asia Pacific, the market in North America will witness a considerable CAGR, owing to the growing adoption of renewable energy.
Major Table of Contents for Transformer Monitoring System Market:
Key Transformer Monitoring System Market Insights
Global Market Analysis, Insights and Forecast, 2015-2026
North America Market Analysis, Insights and Forecast, 2015-2026
Europe Market Analysis, Insights and Forecast, 2015-2026
Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
Latin America Market Analysis, Insights and Forecast, 2015-2026
Global Transformer Monitoring System Market Revenue Share Analysis, By Key Players, 2020
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