Transparency Market Research delivers key insights on the global dissolved gas analyzer market. In terms of revenue, the global dissolved gas analyzer market is estimated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in its report on the global dissolved gas analyzer market.
Dissolved gas analyzers monitor and detect developing faults within the main tanks of transformers and associated oil field equipment. Transformers have been employed since the earliest days of electricity generation and transmission. High thermal and electrical stress causes the mineral oil that is used in a power transformer to decompose. Hydrogen (H2), ethylene (C2H4), carbon monoxide (CO), methane (CH4), and acetylene (C2H2), among other gases, are formed as a result of this process. Such gases are formed depending on the faults of the transformer. The introduction of low-cost test methods for dissolved gases and the increasing number of aging power transformers are propelling the growth of the dissolved gas analyzers market.
Global Dissolved Gas Analyzer Market: Market Dynamics
Increased demand for tracking transformer safety in order to improve operational efficiency is expected to fuel the adoption of gas analyzers significantly during the forecast period. The primary use of dissolved gas analyzers is to detect faults in early-stage power transformers. They help energy companies (users) to set up maintenance programs that are designed to fix and prevent faults, and enhance the lifespan of power transformers.
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The dissolved gas analyzer (DGA) market is fueled by numerous technological advancements. Rising demand for safe power transformers prompts manufacturers to innovate and develop better technological solutions in order to fulfill the needs of customers. Increasing installation of power transformers, worldwide, is expected to drive the market in the near future. Rising number of environmental pollution-related programs aim to have a significant impact on the global economy.
Different steps are being taken by various governments around the world to reduce carbon footprint, with the hope that the overall market would expand in the next few years. The demand for dissolved gas analyzers is estimated to increase in the near future, as end-user industries are focused on the enhancement of their equipment performance and reducing the risks involved in their use. Significantly high risk posed by power transformer facilities, due to lack of monetary resources and ageing and weakening labor force, may restrict the global market.
Global Dissolved Gas Analyzer Market: Prominent Regions
Asia Pacific is a dominant market for dissolved gas analyzers, globally. Expansion of the market in the region can be attributed to considerably high investments in research & development activities by manufacturers operating in the region. Moreover, the rising adoption of dissolved gas analyzers in developing economies in Asia Pacific, owing to technological advancements and cost-efficiency, is also attributed to drive the market in the region. Developing economies in the region are witnessing expansion of infrastructure; therefore, the installation of power transformers is increasing along with emerging research on online DGAs.
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This, in turn, is boosting the overall demand for DGAs. The DGA market in North America is estimated to expand significantly during the forecast period, owing to the presence of aging power transformers in the region, which require safe monitoring. Therefore, the need to ensure the accurate detection of fault gases in new transformers is projected to fuel the demand for DGAs in the region. The dissolved gas analyzer markets in the Middle East & Africa and South America are expected to expand at a moderate pace in the near future, due to the considerable expansion of the oil & gas industry in these regions.
Global Dissolved Gas Analyzer Market: Key Players
Key players operating in the global DGA market include LumaSense Technologies Inc., Weidmann, General Electric, Morgan Schaffer Corporation, ABB Ltd., Doble Engineering, Gatron Gmbh, OELCHECK Gmbh, SD Myers, Inc., Qualitrol Company LLC., EMH Energy-Messtechnik GmbH, and Sieyuan Electric Co.