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)
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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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Service, Application, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
1. Introduction
1.1 Scope of The Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Asia-Pacific Transformer Monitoring System Market – By Component
1.3.2 Asia-Pacific Transformer Monitoring System Market – By Service
1.3.3 Asia-Pacific Transformer Monitoring System Market – By Application
1.3.4 Asia-Pacific Transformer Monitoring System Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Transformer Monitoring System Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Asia-Pacific
4.3 Ecosystem Analysis
5. Transformer Monitoring System Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Implementation Smart Transformers
5.1.2 Rising Digitalization of Power Utilities
5.2 Market Restraints
5.2.1 High Initial Cost
5.3 Market Opportunities
5.3.1 Onshore and Offshore Wind Farms
5.4 Future Trends
5.4.1 Growth of Big Data Analytics
5.5 Impact Analysis of Drivers and Restraints
6. Transformer Monitoring System Market– Asia-Pacific Analysis
6.1 APAC: Transformer Monitoring System Market
6.1.1 APAC: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
7. Transformer Monitoring System Market Analysis – By Component
7.1 Overview
7.2 APAC: Transformer Monitoring System Market, by Component
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
7.4 IT Solutions
7.4.1 Overview
7.4.2 IT Solutions: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
8. Transformer Monitoring System Market Analysis – By Service
8.1 Overview
8.2 APAC: Transformer Monitoring System Market, by Service
8.3 Bushing Monitoring
8.3.1 Overview
8.3.2 Bushing Monitoring: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Oil/Gas Monitoring
8.4.1 Overview
8.4.2 Oil/Gas Monitoring: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
9. Transformer Monitoring System Market Analysis – By Application
9.1 Overview
9.2 APAC: Transformer Monitoring System Market, by Application
9.3 Distribution Transformers
9.3.1 Overview
9.3.2 Distribution Transformers: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
9.4 Power Transformers
9.4.1 Overview
9.4.2 Power Transformers: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
10. Transformer Monitoring System Market – Country Analysis
10.1 APAC: Transformer Monitoring System Market
10.1.1 APAC: Transformer Monitoring System Market, by Key Country
10.1.1.1 China: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 China: Transformer Monitoring System Market, by Component
10.1.1.1.2 China: Transformer Monitoring System Market, by Service
10.1.1.1.3 China: Transformer Monitoring System Market, by Application
10.1.1.2 Japan: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 Japan: Transformer Monitoring System Market, by Component
10.1.1.2.2 Japan: Transformer Monitoring System Market, by Service
10.1.1.2.3 Japan: Transformer Monitoring System Market, by Application
10.1.1.3 India: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 India: Transformer Monitoring System Market, by Component
10.1.1.3.2 India: Transformer Monitoring System Market, by Service
10.1.1.3.3 India: Transformer Monitoring System Market, by Application
10.1.1.4 Australia: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.4.1 Australia: Transformer Monitoring System Market, by Component
10.1.1.4.2 Australia: Transformer Monitoring System Market, by Service
10.1.1.4.3 Australia: Transformer Monitoring System Market, by Application
10.1.1.5 South Korea: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.5.1 South Korea: Transformer Monitoring System Market, by Component
10.1.1.5.2 South Korea: Transformer Monitoring System Market, by Service
10.1.1.5.3 South Korea: Transformer Monitoring System Market, by Application
10.1.1.6 Rest of APAC: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.6.1 Rest of APAC: Transformer Monitoring System Market, by Component
10.1.1.6.2 Rest of APAC: Transformer Monitoring System Market, by Service
10.1.1.6.3 Rest of APAC: Transformer Monitoring System Market, by Application
11. Impact of COVID-19 Pandemic on Transformer Monitoring System Market
11.1 Asia Pacific: Impact assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
13. Company Profile
13.1 ABB Ltd.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Eaton Corporation plc
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Honeywell International Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Schneider Electric SE
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Siemens AG
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Schweitzer Engineering Laboratories, Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Kirloskar Electric Company
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 KJ Dynatech Inc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 WILSON TRANSFORMER COMPANY
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Mitsubishi Electric Corporation
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
13.11 Dynamic Ratings
13.11.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. APAC Transformer Monitoring System Market, by Country – Revenue and Forecast to 2027 (USD Million)
Table 2. China: Transformer Monitoring System Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 3. China: Transformer Monitoring System Market, by Service – Revenue and Forecast to 2027 (US$ Million)
Table 4. China: Transformer Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 5. Japan: Transformer Monitoring System Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 6. Japan: Transformer Monitoring System Market, by Service – Revenue and Forecast to 2027 (US$ Million)
Table 7. Japan: Transformer Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 8. India: Transformer Monitoring System Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 9. India: Transformer Monitoring System Market, by Service – Revenue and Forecast to 2027 (US$ Million)
Table 10. India: Transformer Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 11. Australia: Transformer Monitoring System Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 12. Australia: Transformer Monitoring System Market, by Service – Revenue and Forecast to 2027 (US$ Million)
Table 13. Australia: Transformer Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 14. South Korea: Transformer Monitoring System Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 15. South Korea: Transformer Monitoring System Market, by Service – Revenue and Forecast to 2027 (US$ Million)
Table 16. South Korea: Transformer Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 17. Rest of APAC: Transformer Monitoring System Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 18. Rest of APAC: Transformer Monitoring System Market, by Service – Revenue and Forecast to 2027 (US$ Million)
Table 19. Rest of APAC: Transformer Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 20. Glossary of Term: Transformer Monitoring System Market
LIST OF FIGURES
Figure 1. Transformer Monitoring System Market Segmentation
Figure 2. Transformer Monitoring System Market Segmentation – BY Country
Figure 3. Asia-Pacific Transformer Monitoring System Market Overview
Figure 4. IT Solutions to Dominate the Market by Component
Figure 5. Bushing Monitoring Service to Witness Highest Growth During Forecast Period
Figure 6. Power Transformer to Hold Largest Share During Forecast Period
Figure 7. Asia-Pacific- PEST Analysis
Figure 8. Transformer Monitoring System Market Ecosystem Analysis
Figure 9. Transformer Monitoring System Market Impact Analysis of Drivers and Restraints
Figure 10. APAC: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. APAC: Transformer Monitoring System Market Revenue Share, by Component (2019 and 2027)
Figure 12. Hardware: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. IT Solutions: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. APAC: Transformer Monitoring System Market Revenue Share, by Service (2019 and 2027)
Figure 15. Bushing Monitoring: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. Oil/Gas Monitoring: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 17. Others: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 18. APAC: Transformer Monitoring System Market Revenue Share, by Application (2018 and 2027)
Figure 19. Distribution Transformers: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 20. Power Transformers: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 21. Others: Transformer Monitoring System Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 22. APAC: Transformer Monitoring System Market Revenue Share, by Key Country (2019 and 2027)
Figure 23. China: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Japan: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. India: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Australia: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. South Korea: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Rest of APAC: Transformer Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Impact of COVID-19 Pandemic on Market in Asia Pacific Countries
The List of Companies - Asia Pacific Transformer Monitoring System Market
- 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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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