Asia Pacific Transformer Monitoring System Market Segments and Growth by 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.

Asia Pacific countries are witnessing an upsurge in the middle-class population and urbanization,and these factors are offering ample opportunities for key playerspresent in the transformer monitoring system market. Several APAC countries are known for its introduction of technological innovations as well as for the adoption of these technologies. AsiaPacific is expected to grow at a faster rate, which ismainly attributed to the increasing integration of monitoring solutions by utilities into their existing transformers and introduction of additional capacities in developing countries. China and India are the fastest-developing countries inthis region, and the market in these countries is developing at a fast pace owing to the increasing need for efficient power supply and their massive investments by in smart grids, which creates enormous demand for transformer monitoring systems.Rising investments in the renewable energy sector is the major factor drivingthe growth of the Asia Pacific transformer monitoring systems market. Countries around the globe are shifting their focus on generating power from renewable sources. For instance, the Chinese government is aiming to spend US$ 360 billion on renewable energy by 2020, resulting in increased demand for a transformer monitoring system in the country.

With the introduction of newfeatures and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive thetransformer monitoring system market in Asia-Pacific, and is expected to grow at a good CAGR during the forecast period.

AsiaPacific Transformer Monitoring System Market Revenue and Forecast to 2027 (US$ Mn)

AsiaPacific Transformer Monitoring System Market Segmentation

AsiaPacific Transformer Monitoring System Market,by Component

• Hardware
• IT Solutions

AsiaPacific Transformer Monitoring System Market,byService

• Bushing Monitoring
• Oil/Gas Monitoring
• Others

AsiaPacific Transformer Monitoring System Market,byApplication

• Distribution Transformers
• Power Transformers
• Others

AsiaPacific Transformer Monitoring System Market,by Country

•      China
•      Japan
•      India
•      Australia
•      South Korea
•      Rest of APAC

AsiaPacific Transformer Monitoring System Market-Companies Mentioned

• 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
• Dynamic Ratings

Asia Pacific Transformer Monitoring System Report Scope