PUBLISHER: Grand View Research | PRODUCT CODE: 1404864
PUBLISHER: Grand View Research | PRODUCT CODE: 1404864
The global dissolved gas analyzer market size is expected to reach USD 444.9 million by 2030, expanding at a CAGR of 1.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The augmented demand to monitor the transformer health in order to increase operational efficiency is expected to significantly fuel the adoption of the product over the forecast period. Dissolved gas analyzers are primarily utilized to identify faults in the power transformers positioned at an early stage. This enables energy companies (utilities) to establish maintenance programs meant for repairing, avoiding faults, and extending the durability of power transformers.
The growing awareness pertaining to the fault probability of high-voltage transformers, paired with the high cost of replacing depreciating transformers, has significantly escalated the product demand. Stringent safety and efficiency regulations imposed by the government of developed countries, such as the U.S., have instigated power transformer users to adopt dissolved gas analyzers. Additionally, the rising adoption of online Dissolved Gas Analysis (DGA), owing to benefits including the remote and continuous monitoring of transformer health, is expected to catapult the market growth over the forecast period.
The Digital Gas Analyzer (DGA) market is characterized by several technological trends. The surging demand for safe power transformers impels industrialists to innovate and find better technological solutions to fulfill the unmet needs of customers. For instance, in February 2013, Qualitrol introduced the new QNet4100 intelligent system for alarm management and discrete event monitoring. With the widespread adoption of the Industrial Internet of Thing (IIoT), a high level of automation may be witnessed in the entire fault detection process in the energy sector. Furthermore, the snowballing deployment of the smart grid in the U.S., U.K., Germany, China, and India would drive the adoption of gas analyzers to detect fault over the forecast period.