A new market study publication titled “Transformer Monitoring System Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” uncovers global aspects influencing the growth of the market and offers analysis on numerous factors along with key participants involved in transformer monitoring systems.
According to the report, the global transformer monitoring system market is projected to grow at a CAGR of 10.4% during the period of assessment to reach a value of more than $3 billion by the end of 2027, reports Miltech.
By application, the bushing monitoring segment is dominating the market and is expected to provide huge opportunities to players in the coming years. It is projected to rise at a CAGR of 12.1%.
By end use, power transformers segment shows high market attractiveness during the period of forecast. The distribution transformers segment, on the contrary, is expected to grow at a higher pace in the years to follow to register a CAGR of 10.7%.
By region, Asia Pacific excluding Japan (APEJ) is expected to show high potential for the growth of transformer monitoring systems, and is estimated to be worth about $1.2 billion by the end of 2027.
Major companies profiled in the report include ABB Group, Siemens AG, General Electric, Mitsubishi Electric Power Products, Inc., Eaton Corporation, Hitachi Ltd., Qualitrol Company LLC, Koncar-Electrical Engineering Institute Inc., Maschinenfabrik Reinhausen GmbH (MR), CETT Co., Ltd., Groupe Cahors, Camlin Power, MTE Meter Test Equipment AG and Advanced Power Technologies LLC.