Global Transformer Monitoring System Market Value will Reach $2377.3 Million in 2023

Global Transformer Monitoring System Market Overview

According to Global Market Monitor, the 2023 global Transformer Monitoring System industry market size is $2377.3 million and it is expected to grow to $3253.18 million by 2028.

Transformer Monitoring System Market Introduction

A transformer, mainly composed of primary coils, secondary coils, and iron cores (magnetic cores), is a device that uses the principle of electromagnetic induction to change the AC voltage. As the basic equipment of transmission and distribution, transformers are widely used in transportation, urban communities, and other fields.

There are about 17 million transformers in operation in China, with a total capacity of about 11 billion kVA. The transformer monitoring system can provide remote observation through communication and obtain all kinds of information in time for comprehensive analysis to find the latent fault early and provide timely warning or prescribed operation when necessary.

Competitive Landscape of Global Transformer Monitoring System

At present, there are a large number of enterprises engaged in the transformer monitoring system-related industry in the world. The transformer monitoring system industry is a capital-intensive and knowledge-intensive industry, which is in a state of full competition. The top three companies are GE, Siemens, and Schneider Electric, with 2020 revenue market shares of 17.56%, 12.00%, and 10.47% respectively.

Although some companies temporarily show some advantages and strong competitiveness in the field, it is not ruled out that other listed companies and global leading enterprises in the same industry may enter the industry. In general, listed companies or world-renowned enterprises have strong capital, scale and technical advantages, which will form a certain degree of competitive pressure based on production scale, popularity, production cost, product price, upstream and downstream bargaining power and customers. At the same time, some small enterprises adopt the competitive strategy of low price and quality, which will also disrupt the market order to a certain extent and pose a certain threat to the enterprises in the industry.

GE Outlook
Company Name	GE
Website	www.ge.com
Established Time	1892
Headquarter	Boston
Sales Region	worldwide
Business Overview	General Electric is a multinational conglomerate originating from the United States. Its business industries include electronics, energy, transportation, aerospace, medical and financial services. Grid Solutions is GE\'s renewable energy business, with more than 13,000 employees serving customers worldwide. GE provides equipment, systems, and services for electric utilities and industries around the world to deliver electricity reliably and efficiently from the generating point to the end consumer.