Lewes, DE -- (SBWire) -- 06/23/2016 --Report forecast the global transformer monitoring solutions market to grow at a CAGR of 36% during the period 2016-2020.
Transformer monitoring solutions play a significant role in monitoring and diagnosing transformer's health. Monitoring solutions help power utilities and end-users in the timely detection and identification of problems in transformers. This helps in reducing repairing costs.
Transformer monitoring solutions integrate sensors, data management, and analysis with software applications. A monitoring solution collects data from the sensors and converts them into useable data. These monitoring solutions are mainly used by the power utility sector.
The report covers the present scenario and the growth prospects of the global transformer monitoring solutions market for 2016-2020.
The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA
According to the report, a key growth driver is the increased demand for electricity in emerging markets. APAC is an emerging region undergoing significant changes. Countries such as China, Thailand, the Philippines, Vietnam, India, Japan, and Australia are witnessing extensive growth of their economies along with industrial development and commercialization. Therefore, demand for power in these countries is also increasing. According to the Asian Development Bank's new report, around 48 nations in the region will cumulatively raise electricity demand by almost 67% between 2010 and 2035.
Further, the report states that one challenge that could hamper market growth is the high price of transformer monitoring systems.
Global Transformer Monitoring Solutions Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the global transformer monitoring solutions market: ABB, GE, Schneider Electric, and Siemens.
Other Prominent Vendors in the market are: Advanced Power, BPL Global, Crompton Greaves, Dynamic Ratings, Eaton, Echelon, Elster Group, Hyosung Power & Industrial Systems, Hyundai Heavy Industries, Mitsubishi Electric, Tebian Electric Apparatus, and XD Group.
Market driver
- Increased demand for electricity from emerging countries
- For a full, detailed list, view our report
Market challenge
- Lack of awareness about transformer monitoring solutions
- For a full, detailed list, view our report
Market trend
- Introduction of automated high voltage transformer monitoring solution
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 54 pages and 26 Exhibit "Global Transformer Monitoring Solutions Market" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by application, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
For more information Visit at: http://www.marketresearchreports.com/technavio/global-transformer-monitoring-solutions-market
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