Europe Transformer Monitoring System Market Segments and Growth by 2027
Historic Data: 2017-2018 | Base Year: 2019 | Forecast Period: 2020-2027Europe Transformer Monitoring System Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component (Hardware, IT Solutions), Service (Bushing Monitoring, Oil/Gas Monitoring, Others), Application (Distribution Transformers, Power Transformers, Others), and Country
- Report Date : Jul 2020
- Report Code : TIPRE00012205
- Category : Electronics and Semiconductor
- Status : Published
- Available Report Formats :
- No. of Pages : 86
The transformer monitoring system market in Europeis expected to grow from US$ 585.7 million in 2019 to US$ 881.1 million by 2027; it is estimated to grow at a CAGR of 5.3% from 2020 to 2027.
A transformer monitoring system comprises sensors to software that assist customers in improving transmission, distribution, and substation system reliability, leading to an increase in maintenance savings and reduction in outages. The system consists of innovative sensors, monitors, and controls for data collection, analysis, and diagnostics. With the use of asset management tools, customers have realized the benefits of online transformer monitoring, which in turn is triggering the growth of the transformer monitoring system market. Governments of various countries are framing energy policies that encourage the use of alternative and clean solutions, thereby contributing to the growth of the Europe transformer monitoring systems market.The Europe has witnessed a fall in coal production since the last decade. The region has moved toward the adoption of energy sources having lower carbon footprint due to the effect of CO2emissions on the environment in terms of climate change. Europe has imported ~53–55% of energy for consumption in the past few years. In 2016, renewable sources accounted for 86% of the new energy capacity added in the EU countries. Improvements in energy-efficiency by promoting the use of hydroelectricity and wind power are likely to drive market growth during the forecast period.
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, and is expected to grow at a good CAGR during the forecast period.
Europe Transformer Monitoring System Market Revenue and Forecast to 2027 (US$ Mn)
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Europe Transformer Monitoring System Market Segmentation
EuropeTransformer Monitoring System Market,by Component
- Hardware
- IT Solutions
Europe Transformer Monitoring System Market,byService
- Bushing Monitoring
- Oil/Gas Monitoring
- Others
Europe Transformer Monitoring System Market,byApplication
- Distribution Transformers
- Power Transformers
- Others
Europe Transformer Monitoring System Market,by Country
- UK
- Germany
- France
- Italy
- Russia
- Rest of Europe
Europe Transformer Monitoring System Market-Companies Mentioned
- ABB Ltd.
- Eaton Corporation plc
- Honeywell International Inc.
- Schneider Electric SE
- Siemens AG
- Schweitzer Engineering Laboratories, Inc.
- Mitsubishi Electric Corporation
- Dynamic Ratings
Europe Transformer Monitoring System Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 585.7 Million |
| Market Size by 2027 | US$ 881.1 Million |
| Global CAGR (2020 - 2027) | 5.3% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
Market Research & Consulting
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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The List of Companies - Europe Transformer Monitoring System Market
- ABB Ltd.
- Eaton Corporation plc
- Honeywell International Inc.
- Schneider Electric SE
- Siemens AG
- Schweitzer Engineering Laboratories, Inc.
- Mitsubishi Electric Corporation
- Dynamic Ratings
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