According to the UnivDatos, “Transforming Monitoring Market” report, the global market is at a CAGR of 7.6% during the forecast period from 2024 – 2032 to reach USD 3.89 million by 2032.
Transformer manufacturers are in favor of energy efficiency requirements as they can generate more revenue by producing superior equipment. In the regulatory processes for setting Minimum Energy Performance Standards (MEPS) in Canada, the EU, and the US, transformer manufacturers have been supportive by providing data, technical assistance, and information to policymakers. Key Players in the market are constantly taking initiatives to enhance their offerings and drive growth.
Recent Launches:
· In February 2024, Schneider Electric launched “EcoStruxure™” Transformer Expert in the UK & Ireland to extend the lifespan of oil transformers and reduce downtime.
· In April 2024, GE launched its latest transformer Monitoring and Diagnostics product offering, the Kelman™ Transport X². It encapsulates intuitive advancements to bring improved performance, innovative new features, enhanced user experience, and greater robustness to customers in generation, transmission and distribution, and industries.
· In April 2023, ABB launched a new cloud-based asset monitoring platform for cognitive electrical networks used in renewable energy infrastructure, data centers, and EV charging applications.
· In April 2023, Siemens launched SIBushing as smart and intelligent cable connection bushing, together with SICAM FCM plus short circuit and earth fault indicator.
Access sample report (including graphs, charts, and figures): https://univdatos.com/reports/transformer-monitoring-market?popup=report-enquiry
Conclusion
Key players in the transformer monitoring market, such as ABB, Siemens, General Electric, Schneider Electric, and Mitsubishi Electric, are constantly innovating to meet the increasing demand for advanced monitoring solutions. With the rapid digitization of industries worldwide, the need for efficient and reliable transformer monitoring systems has never been higher. The recent launch of new monitoring technologies by these key players is set to revolutionize the market, offering enhanced capabilities in data collection, analytics, and predictive maintenance. These technologies leverage the latest advancements in artificial intelligence, IoT, and cloud computing to provide real-time insights into transformer performance and health.
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