The transformer monitoring system market is expected to reach $746.4 M by 2027, from $444.8 M in 2019, growing at a CAGR of 6.8 % from 2020 to 2027.

Electricity consumption in Asian countries has grown at a significant pace due to several factors such as rising population, ongoing urbanisation, substantial increase in industrial activities, and surging government investment to modernise electricity transmission.

Asia has registered a significant number of installation units for projects tendered by government authorities in 2016. Further, Asia Pacific excluding Japan (APEJ) is expected to show high potential for transformer monitoring systems during the forecast period due to increased government support and improved renewable energy sources in countries, such as China and India.

Overall size of the Asia Pacific transformer monitoring system market has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Asia Pacific transformer monitoring system market with respects to all the segments pertaining to the region.

Key leaders in the Asia Pacific transformer monitoring system market are 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, and others.

Source: Globe Newswire