Global Transformer Monitoring System Market Forecast: Compound Annual Growth Rate of 36% in 2020

The report points out that in the next few years, whether in developed or developing countries, stable and affordable power supply is the key to economic growth. As a key high-cost equipment in power transmission and distribution system, transformer will play an important role. Therefore, its operation needs continuous real-time monitoring to ensure stable and reliable power transmission.

Asia Pacific: the largest demand and the fastest growth rate

According to the report, by 2020, the market scale of transformer monitoring system in the Asia Pacific region is expected to exceed US $3 billion, with an annual compound growth rate of more than 41%. The rapid economic development in the Asia Pacific region has accelerated the development of manufacturing industry, so as to further increase the demand for power and promote the steady and rapid growth of transformer monitoring in the market. At the same time, the population of the Asia Pacific region is growing rapidly, so the power consumption is also growing rapidly. For example, China has surpassed the United States to become the world's largest power consumer. It is expected that its total power demand will increase by 140% compared with 2010 by 2040.

The steady growth of power demand is bound to promote the growth of market demand for transformers to strengthen distribution. These large transformer networks need continuous monitoring to prevent failures in the transmission and distribution process, resulting in power outages. Therefore, the transformer monitoring market in the Asia Pacific region will have great potential in the next five years.

Moreover, the power demand of industrial, commercial and residential users is also growing, which stimulates power enterprises to speed up the transformation and expansion of power grid, and the installation of distribution transformers has become a top priority, because it can not only expand the distribution scope, but also replace and upgrade aging transformers, so as to further promote the growth of market demand for monitoring.

Americas: upgrading of aging facilities

By 2020, the market scale of transformer monitoring system in the Americas will reach US $1.4 billion, with an annual compound growth rate of more than 30%. Among them, the aging power infrastructure upgrading is the main reason to promote the rapid growth of this market, especially in North America. In most power enterprises, secondary distribution transformers are the main power equipment. The real-time monitoring of such transformers is an important guarantee for the stable operation of distribution network, which can not only meet the growing power demand, but also increase the overall income.

In addition to the United States and Canada, other parts of the Americas, such as Latin American countries, have stimulated rapid growth in power demand due to rapid economic growth. Latin American countries have low labor costs and operating costs. Many manufacturing enterprises begin to transfer their production centers to Latin American countries, which promotes the reconstruction and expansion of local power grids and the construction of more substations to ensure the effectiveness of power transmission. Therefore, it promotes the growth of transformer monitoring demand in the regional market.

EMEA: power infrastructure investment growth

In 2020, the market demand for transformer monitoring in Europe, the Middle East and Africa (EMEA) is expected to reach US $1.24 billion, with a compound annual growth rate of 32%. In Europe, the growth of investment in power infrastructure is the main reason for the rapid growth of this market, which is due to the fact that the aging power generation and distribution network has been unable to meet the growing power demand and the continuous growth of renewable energy. It is expected that by 2020, the support of European power enterprises for grid reconstruction, expansion, operation and maintenance is expected to exceed 1 trillion euros.

Moreover, many EMEA countries, such as Britain, Germany and the Middle East, have large and dense transmission and distribution network infrastructure, which requires a large number of distribution transformers to ensure the stable operation of the power grid, which will promote the increase in the demand for transformer monitoring system.

For enterprises, abb in Switzerland, Ge in the United States, Schneider in France and Siemens in Germany will become the world's leading suppliers of transformer monitoring systems.