Asia Pacific Transformer Monitoring System Market Size, Share, Trends, Growth, Opportunities and Forecast to 2027
The transformer monitoring system market in AsiaPacificis expected to grow from US$ 444.8 million in 2019 to US$ 746.4 million by 2027; it is estimated to grow at a CAGR of 6.8% from 2020 to 2027.
The market for transformer monitoring systemis segmented into component, service, application, and country. Based on component, the market is segmented into hardware and IT solutions. In 2019, the IT solutionssegment held the largest share of AsiaPacifictransformer monitoring system market and is expected to continue the same during the forecast period. Based on service, the transformer monitoring system marketis segmented into bushing monitoring, oil&gas monitoring, and others. Bushing monitoringis expected to be the fastest growing segment during the forecast period.Based onapplication, the market is bifurcated into distribution transformers, power transformers, and others. The power transformerssegment contributed a substantial share in the transformer monitoring system market in 2019 across AsiaPacific.
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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 Ratingare among the leading companies in the Asia Pacific transformer monitoring system market.The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, Mitsubishi Electric Corporation declared that it has been selected to supply Electric Power Generation Enterprise (EPGE) in Myanmar with 46 gas-insulated switchgears (GIS), 7 transformers, and other equipment via subsidiary Mitsubishi Electric Asia (Thailand) Co., Ltd.
The Report Segments the AsiaPacificTransformer Monitoring System Marketas Follows:
Transformer Monitoring System Market– ByComponent
- IT Solutions
Transformer Monitoring System Market– By Service
- Bushing Monitoring
- Oil/Gas Monitoring
Transformer Monitoring System Market– By Application
- Distribution Transformers
- Power Transformers
Transformer Monitoring System Market– By Country
- South Korea
- Rest of APAC
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