Transformer Monitoring System Industry Statistics

In this post, we will explore the latest statistics and projections shaping the global transformer monitoring system industry. From market valuations and regional growth trends to key players and emerging segments, we delve into the data driving the market towards future advancements.

Statistic 1

"The global transformer monitoring system market size was valued at USD 2.16 billion in 2019."

Statistic 2

"The transformer monitoring system industry is projected to reach USD 3.43 billion by 2027."

Statistic 3

"In 2019, the power transformers segment held the largest market share at more than 45%."

Statistic 4

"North America is expected to exhibit the highest CAGR of around 8.2% from 2021 to 2027."

Statistic 5

"The industry in Asia Pacific witnessed substantial growth and is expected to register the fastest CAGR of more than 11% from 2020 to 2027."

Statistic 6

"The oil and gas cooled transformer monitoring system segment is projected to reach USD 1.89 billion by 2027."

Statistic 7

"The services segment is expected to reach USD 953 million by 2027 in the transformer monitoring system market."

Statistic 8

"Market growth for transformer monitoring systems in Europe is expected to be around 7.4% during the forecast period."

Statistic 9

"India’s transformer monitoring system market is expected to grow at a CAGR of 12.6% from 2020 to 2025."

Statistic 10

"By 2025, China's transformer monitoring system market is expected to reach USD 570 million."

Statistic 11

"Load transformers emerged as the largest application segment in 2019 and are expected to reach USD 1.6 billion by 2027."

Statistic 12

"The industrial sector holds the majority share of the transformer monitoring system market, with a market share of 40.5% in 2019."

Statistic 13

"Transformer monitoring systems based on partial discharge monitoring are expected to exhibit growth with a CAGR of 13.1% from 2020 to 2027."

Statistic 14

"The average annual growth rate of the transformer monitoring system market in Latin America is expected to be 6.6% from 2021 to 2027."

Statistic 15

"The rooftop solar sector is anticipated to expand at the fastest CAGR of 6.9% during the forecast period."

Statistic 16

"ABB and GE hold the majority market share in the transformer monitoring system industry."

Statistic 17

"The oil and gas segment, in terms of end-use, accounted for around 30.1% of the overall market share in 2019."

Statistic 18

"In 2020, the average cost of a transformer monitoring system was between USD 1,200 and USD 1,800 per unit."

Statistic 19

"The Middle East and Africa region held a market share of over 5% in 2019 in the transformer monitoring system market."

Statistic 20

"The offshore wind farms segment is expected to reach USD 586 million by 2027."

In conclusion, the statistics paint a picture of a robust and dynamic transformer monitoring system industry poised for significant growth and evolution in the coming years. With increasing investment and advancements in technology, particularly in regions like Asia Pacific and North America, the market is projected to expand substantially, driven by diverse segments such as power transformers, oil and gas cooled systems, and load transformers. The rise of key players like ABB and GE, coupled with the adoption of innovative monitoring solutions such as partial discharge monitoring, highlights the industry’s commitment to enhancing operational efficiency and reliability. As emerging sectors like rooftop solar and offshore wind farms gain traction, the transformative potential of transformer monitoring systems in ensuring grid stability and performance becomes increasingly evident, paving the way for a dynamic future landscape.