Partial Discharge Monitoring Systems Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

Partial Discharge Monitoring Systems Market Size

The global Partial Discharge Monitoring Systems market was valued at US$ 467.4 million in 2022 and is anticipated to reach US$ 664.8 million by 2029, witnessing a CAGR of 5.1% during the forecast period 2023-2029.

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Partial Discharge Monitoring Systems Market Trends

The market for partial discharge monitoring systems (PDMS) is expanding significantly as a result of various sectors' increased focus on asset health management. Because vital electrical assets are vulnerable to partial discharge, early detection and resolution of any problems depend on monitoring systems. Power generation, oil and gas, and manufacturing are among the industries that are using PDMS more and more to guarantee the consistent and dependable operation of their high-voltage equipment. One major factor propelling the PDMS market is the need for dependable energy infrastructure on a worldwide scale. Utilities and energy firms are investing in improved monitoring technology to detect and minimize partial discharge occurrences due to the growing demand for a continuous power supply.

PDMS monitoring of partial discharge operations is compelled by companies due to safety compliance requirements and strict regulatory standards. The adoption of monitoring systems that can guarantee the integrity of electrical assets and compliance with industry-specific requirements is being driven by the need to comply with worldwide safety standards and regulations, especially in the power and utilities sector. Preventive maintenance is becoming more and more important, which is driving up demand for PDMS. Businesses are releasing more and more how much it may save to deal with problems early on and prevent them from getting worse. Predictive maintenance is made possible by PDMS, which is an essential part of contemporary maintenance plans since it minimizes downtime, extends the life of vital electrical assets, and detects any defects early.

The PDMS market is expanding due to ongoing technological improvements that improve the capabilities of monitoring systems. To offer real-time monitoring, data analysis, and predictive maintenance capabilities, advanced sensors, data analytics, and communication technologies are being incorporated into PDMS. The sectors searching for innovative ways to protect their vital electrical assets are drawn to these technical advances. One major driver driving the PDMS market is the increasing use of condition-based monitoring tactics across sectors. Through condition-based monitoring, made possible by PDMS, it is possible to continuously evaluate the state of electrical assets as opposed to depending solely on planned maintenance. By using this method, maintenance expenses are decreased, operational efficiency is increased, and asset performance is maintained at its highest levels.

Partial Discharge Monitoring Systems Market Share

Manufacturers of worldwide core partial discharge monitoring systems include Eaton, Mitsubishi Electric, and Qualitrol, among others. About 34% of the market is held by the top 3 businesses. With a market share of over 34%, North America leads the market, followed by Europe and Asia Pacific, with respective shares of roughly 31% and 26%.

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By Type
• Permanent Monitoring System
• Temporary Monitoring System

By Application
• GIS
• Transformers
• Power Cables

Key Players
Qualitrol, Mitsubishi Electric, Eaton, OMICRON, Siemens, Megger, HVPD Ltd., LS Cable & System, Prysmian Group, Doble Engineering Company, Meggitt Sensing Systems, EA Technology, APM Technologies, IPEC Limited, Dynamic Ratings, Altanova Group, Dimrus, PMDT, PowerPD Inc., Innovit Electric, Rugged Monitoring

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This release was published on openPR.