Cherishing Report of Europe Transformer Monitoring System Market during 2020-2027

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The Europe Transformer Monitoring System Market is expected to reach US$881.1 million by 2027 from US$585.7 million in 2019, ata CAGR of 5.3% from 2020 to 2027.

The Europe Transformer Monitoring System market is growing along with the Electronics and Semiconductor industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.

Power transformers play an important role in power transmission. These transformers work at peak load and are designed to have maximum efficiency at full capacity. Decades of research in the transmission networks has led to an increase in the transmission voltages. Power transformers enable the power transmission low-voltage to high-voltages. The installation of power transformers provides new opportunities for the power transformer market. Thus, the rise in the installation of power transformers is likely to drive the transformer monitoring system market during the forecast period.

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The Europe transformer monitoring system market experiences a remarkable growth due to growing number of power grid networks and rapid installation of power transformer. Rising focus on renewable electric power generation, deployment of smart grids, smart transformers, and replacement of old power transformers are the other factors propelling the growth of the transformer monitoring system. Further, rising demand for uninterrupted electric supply and growing focus on using non-conventional energy sources would act as an opportunity for the players in the transformer monitoring system market as transformer monitoring systems have the competence of monitoring the transformer’s voltage, current, and temperature to ensure regular uninterrupted electric supply.

These factors are expected to offer broad growth opportunities in the Electronics and Semiconductor industry and this is expected to cause the demand for Transformer Monitoring System assays in the market.

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EUROPE TRANSFORMER MONITORING SYSTEM MARKET SEGMENTATION

By Component

  • Hardware
  • IT Solutions

By Service

  • Bushing Monitoring
  • Oil/Gas Monitoring
  • Others

By Application

  • Distribution Transformers
  • Power Transformers
  • Others

By Country

  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Rest of Europe

Company Profiles

  • 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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