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Dissolved Gas Analyzer Market Is Poised For Steady Growth In The Future | TMR Research Insight
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The global dissolved gas analyzer market is broadly affected by several factors, including upgrade of old age transmission & distribution networks and rising need for advanced utility infrastructure.
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Dissolved Gas Analyzer Market: Dynamics
Dissolved Gas Analysis (DGA) of insulating fluids is recognized as a highly important test for condition assessment of fluid-insulated transformers. Dissolved gas analyzers are majorly utilized in the examination of electrical transformer oil contaminants, as insulating materials within electrical equipment liberate gases as they slowly break down over time. Dissolved gas analyzer plays an important role in the preventive maintenance program.
The rising need to upgrade old age transmission and distribution networks across the globe is driving the dissolved gas analyzer market. Power transformers are highly significant assets of electric power substations. The operation of the electric power industry largely depends on the efficient functioning of power transformers as well as their maintenance. They also represent one of the largest investments in a utility system. Furthermore, power transformers have a life expectancy of over 40 years; however, higher loading on aging transformers and their poor maintenance can lead to unexpected and expensive disruptions and faults leading to their breakdown.
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Dissolved gas analyzers are required in power transformers to offer advanced and efficient current transmission, minimal losses, and distribution networks for better performance. Old and obsolete transmission and distribution networks have become a concern for the superior functioning of dissolved gas analyzers across various commercial, industrial, and residential sectors. Additionally, concerns regarding greenhouse gas emission of CO2 have increased the adoption of SF6 insulation in developed countries. These concerns regarding old transmission and distribution networks have also propelled the demand for the upgrade of existing systems or installation of new dissolved gas analyzers assembly. The upgrade of aging transmission and distribution infrastructure is further anticipated to boost the dissolved gas analyzer market.
Dissolved Gas Analyzer Market: Prominent Regions
The dissolved gas analyzer market in Asia Pacific is projected to expand significantly during the forecast period, owing to the presence of key market players and growing technological advancements. Moreover, countries, such as China, India, Japan, and South Korea, in Asia Pacific are offering ample and lucrative opportunities for manufacturers on a long-term basis due to the expansion of the industrial sector in the region.
The installation of smart grids owing to government initiatives coupled with huge investments to upgrade power transmission and distribution system is a primary factor attributed to the region's dominance.
Moreover, according to the International Energy Outlook 2, rapid rise in the demand for electricity from various end-use sectors is an important factor that is expected to boost the expansion of power generation plants across the world. Therefore, power plants are expected to account for a significant share of the regional dissolved gas analyzer market during the forecast period.
Multiple countries in Asia Pacific, such as China, India, and Japan are witnessing infrastructural development, and the number of power transformers in these countries is rising along with the emergence of online DGA analysis. The market in China is projected to expand at a notable CAGR during the forecast period, owing to increase in investments in order to improve industrial infrastructure in the country.
The market in Asia Pacific is estimated to reach the value of US$ 208.5 Mn by 2031. The dissolved gas analyzer market in Asia Pacific is likely to expand at a notable CAGR of 3.6% during the forecast period.
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Dissolved Gas Analyzer Market: Key Players
Key players operating in the global dissolved gas analyzer market are ABB Ltd., DeLoach Industries, Inc., Doble Engineering, Emerson Electric Co., EMH Energy-Messtechnik GmbH, General Electric Co., LumaSense Technologies, Inc., Qualitrol Company LLC, Schlumberger Limited, Siemens AG, Sieyuan Electric Co., Ltd., Thermo Fisher Scientific, Vaisala Oyj, Veolia Water Technololgies, Inc., and Weidmann Electrical Technology.
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