Transformer monitoring & diagnostic system (TMDS) market is anticipated to grow at a considerable CAGR of 7.8% during the forecast period. Power transformers are one of the expensive and vital components in the power system. A sudden failure could be a very costly process for both the transformer owner and society. Transformer monitoring requires the integration of sensors, data management, and analysis to turn sensor data into useful knowledge, and then an overlay of software applications to turn knowledge into actionable information. An appropriate transformer monitoring & diagnostic system help utilities avoid unplanned failures, lower maintenance costs, and extend useful transformer life. The major factor driving the demand for transformer monitoring & diagnostic system (TMDS) is attributed to various benefits offered by TMDS such as advanced detection of abnormal conditions, providing current operational data, trends, alarm history, and messaging remotely or from a central location, supports customer preferences in transformer sensing technologies, automatically detects bad sensor data to avoid false diagnosis. For instance, ABB offers Transformer Intelligence which is a new generation of sensor and diagnostics technology to monitor and manage the electrical transformers that are essential to power transmission and distribution networks. The monitoring and diagnostics platform gives operators of electrical grids the ability to carry out reliable asset monitoring and condition-based maintenance, enabling them to optimize the lifetime of their assets. The solution includes sensors and diagnostics that can be installed as a new or retrofit solution to give operators insight into the performance of individual transformers and entire fleets. Sensors monitor the health of critical transformer components such as bushings and on-load tap-changers.

Segmental Outlook 

The global transformer monitoring & diagnostic system (TMDS) market is segmented based on its product type and application. Based on its product type, the market is segmented into power transformers and distribution transformers. Based on the application, the market is segmented into residential, commercial, and industrial. Among the application, the residential sub-segment is anticipated to hold a prominent market share, The growth of the residential sub-segment is attributed to growing urbanization and expansion of power capacity in urban and local areas.

Among the product type segment, the power transformers sub-segment is anticipated to register significant growth for the forecast period. The growth of the power transformers sub-segment is attributed to the factors such as the transition from fuel-based electricity to renewable sources of energy and subsequent steps taken by governments and other private players to expand and upgrade the power transmission are anticipated to drive the power transformers for global TDMS system market. For instance, in January 2022, the Government of India revealed its plans to invest $1.6 billion to add new lines to transmit electricity from renewable plants as it seeks to draw half of its energy requirement from greener sources by 2030. Dedicated transmission lines of 10,750 circuit kilometers will be built across seven provinces under the second phase of the green energy corridor project.

Regional Outlooks

The global transformer monitoring & diagnostic system (TMDS) market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. Among these, the European regional market is expected to cater to prominent growth over the forecast period. However, the Asia-Pacific region is projected to experience considerable growth in the TMDS market. The growth in the Asia-pacific region is driven by the expansion of power transmission lines across the region.

Global Transformer Monitoring & Diagnostic System (TMDS) Market Growth, by Region2022-2028

The North American Region is Expected to Hold a Significant Share of the Global Transformer Monitoring & Diagnostic System (TMDS) Market

Among these regions, North America is anticipated to account for a significant share of the market during the forecast period. The growth of the transformer monitoring & diagnostic system (TMDS) market in the region is primarily driven by government initiatives to upgrade and expand the power transmission line. For instance, in May 2022, the US government launched a $2.5 billion fund to modernize and expand the capacity of the country’s power grid under the Transmission Facilitation Program (TFP). Its launch marks the largest infrastructure law investment made exclusively in transmission. It is also among the first down payments on the more than $20 billion of investments being made under the DOE’s new building a Better Grid Initiative.

Market Players Outlook

The major companies serving the global transformer monitoring & diagnostic system (TMDS) market include Siemens Gas and Power GmbH & Co. KG, ABB Group, Advanced Power Technologies, Camlin Group, EMCO ELECTRONICS, Eaton Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2020, Hitachi ABB Power Grids launched the TXpert Ecosystem for the digitalization of transformers. The ecosystem is designed to drive data-driven intelligence and decision-making in the operations and maintenance of transformers and power grids. It is a complete suite of products, software, services, and solutions that work together and have the capability to integrate with new and existing digital equipment from other manufacturers.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global transformer monitoring & diagnostic system (TMDS) market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.