DUBLIN, Aug. 13, 2020 /PRNewswire/ — The “Transformer Monitoring System Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Component; Service; Application” report has been added to ResearchAndMarkets.com’s offering.
The transformer monitoring system market was valued at US$ 1, 842.54 million in 2019 and is projected to reach US$ 2, 806.19 million by 2027; it is expected to grow at a CAGR of 5.5% from 2020 to 2027.
A transformer monitoring system is an assembly of components built together to analyze and monitor several parameters such as voltage, current, and temperature, and possibly the phase angle of a ground transformer, which is vital to its functionality. The systems has inbuilt battery backup that helps prevent system failure if there is power cut. The demand for the transformer monitoring systems has increased with the increasing number of power grid networks and rapid installation of the power transformers. These systems are commonly used in chemical plants, mining industry, etc.
Additionally, the transformer monitoring systems can be used in transmission and distribution facilities. The global transformer monitoring system market experiences remarkable growth due to growing number of power grid networks and rapid installation of power transformers in the world. Mounting focus on renewable electric power generation, deployment of smart grids and smart transformers, replacement of existing old power transformers are a few other factors propelling the market growth.
The global transformer monitoring system market is segmented on the basis of component, service, and application. The system market, by component, is segmented into hardware and IT solutions. Based on service, the market is segmented into bushing monitoring, oil/gas monitoring, and others. By application, the transformer monitoring system market is segmented as distribution transformers, power transformers, and others.
The key companies profiled in the transformer monitoring system market are ABB Ltd; Eaton Corporation plc; Honeywell International Inc.; Schneider Electric SE; Siemens AG; Schweitzer Engineering Laboratories, Inc.; Kirloskar Electric Company; KJ Dynatech Inc.; WILSON TRANSFORMER COMPANY; Mitsubishi Electric Corporation; and Dynamic Rating; among others.
Impact of COVID-19 Pandemic on Transformer Monitoring System Market
In Europe, Italy is the hardest-hit country by the COVID-19 outbreak. It is suffering an economic hit due to a lack of revenue from various industries. Other member states in the European Union (EU) have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact growth of the transformer monitoring systems market in Europe. Further, the governments in various EU countries are restricting the increments in the cost of various communication services. For instance, the Spanish government banned price increases on electronic telecom networks, as subscribers were unable to switch to another provider, and discontinued all non-progressive fixed and mobile numbering operations.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global transformer monitoring system market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global transformer monitoring system market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Key Topics Covered:
1. Introduction
1.1 Scope of The Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Global Transformer Monitoring System Market – By Component
1.3.2 Global Transformer Monitoring System Market – By Service
1.3.3 Global Transformer Monitoring System Market – By Application
1.3.4 Global Transformer Monitoring System Market – By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Transformer Monitoring System Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia-Pacific
4.2.4 Middle East and Africa
4.2.5 South America
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Transformer Monitoring System Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Initiatives Toward Smart Grids
5.1.2 Rising Digitalization of Power Utilities
5.2 Market Restraints
5.2.1 Cost Barriers
5.3 Market Opportunities
5.3.1 Offshore Wind Farms
5.4 Future Trends
5.4.1 Emergence of Big Data Analytics
5.5 Impact Analysis of Drivers and Restraints
6. Transformer Monitoring System Market- Global Analysis
6.1 Transformer Monitoring System Global Overview
6.2 Transformer Monitoring System Market -Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning- Global Market Players Ranking
7. Transformer Monitoring System Market Analysis – By Component
7.1 Overview
7.2 Transformer Monitoring System Market, By Component (2019 and 2027)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
7.4 IT Solutions
7.4.1 Overview
7.4.2 IT Solutions: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
8. Transformer Monitoring System Market Analysis – By Service
8.1 Overview
8.2 Transformer Monitoring System Market, By Service (2019 and 2027)
8.3 Bushing Monitoring
8.3.1 Overview
8.3.2 Bushing Monitoring: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Oil/Gas Monitoring
8.4.1 Overview
8.4.2 Oil/Gas Monitoring: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
9. Transformer Monitoring System Market Analysis – By Application
9.1 Overview
9.2 Transformer Monitoring System Market, By Application (2019 and 2027)
9.3 Distribution Transformers
9.3.1 Overview
9.3.2 Distribution Transformers: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
9.4 Power Transformers
9.4.1 Overview
9.4.2 Power Transformers: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
10. Transformer Monitoring System Market – Geographic Analysis
10.1 Overview
10.2 North America: Transformer Monitoring System Market
10.3 Europe: Transformer Monitoring System Market
10.4 APAC: Transformer Monitoring System Market
10.5 MEA: Transformer Monitoring System Market
10.6 SAM: Transformer Monitoring System Market
11. Impact of COVID-19 Pandemic on Global Transformer Monitoring System Market
11.1 North America: Impact assessment of COVID-19 Pandemic
11.2 Europe: Impact Assessment of COVID-19 Pandemic
11.3 Asia Pacific: Impact assessment of COVID-19 Pandemic
11.4 Middle East and Africa: Impact assessment of COVID-19 Pandemic
11.5 South America: Impact assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
13. Company Profile
13.1 ABB Ltd.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Eaton Corporation plc
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Honeywell International Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Schneider Electric SE
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Siemens AG
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Schweitzer Engineering Laboratories, Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Kirloskar Electric Company
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 KJ Dynatech Inc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 WILSON TRANSFORMER COMPANY
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Mitsubishi Electric Corporation
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
13.11 Dynamic Ratings
13.11.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
14. Appendix
14.1 About the Publisher
14.2 Glossary of Terms
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