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CM2003131 |
Pages: NA |
Jan 2020 |
Gas accumulation indicator is a device that provides the application for monitoring and controlling of accumulation of hazardous gases in the conservator style transformer. This indicator has an inbuilt alarm system that gets activated when the gas level hits the maximum limit. The gas accumulation indicator has a sampling port for the collection and laboratory analysis of gas samples. In addition, it has an angled dial face which allows easy viewing; it also has anti-corrosion materials that offer extended service life.
Accurate assessment of the transformer’s condition is one of the significant factors for the growth of the global gas accumulation indicator market. Significant features such as field-proven reliability, robust design, and no false alarms, are also driving the demand for gas accumulation indicator market. Moreover, the demand for power has grown significantly worldwide mainly because of the rising industrialization and growing global economy. For example, the energy consumption of developing economies is expected to grow at an average annual rate of 3 percent from the year 2004 to 2020. This power requirement can foster the demand for gas accumulation indicators. In addition, the growing awareness regarding the security of electric appliances in industrial applications is anticipated to boost the growth of the global gas accumulation indicator market in the future. Furthermore, the increasing investments by developed as well as developing countries in the power sector in various regions across the globe are anticipated to propel the gas accumulation indicator market growth. For instance, in emerging markets, like Asia, South America and Africa it is projected to have a lower level of competitiveness along with the high rate of growth of power energy.
Contrary to this, higher costs and the substantial number of substitutes for gas accumulation indicators, are anticipated to decline the demand for gas accumulation indicators which, eventually, will restrain the growth of global gas accumulation indicators.
The transformer is highly expenssive and one of the most widely used electrical machines used in multiple industries. Though the gas accumulation indicator is mainly utilized to monitor large transformers, it has certain drawbacks such as it produces a trip signal during earthquakes. On the other hand, adaptive and modern techniques in these indicators that are cost-effective, robust and efficient can create noticeable revenue for the gas accumulation indicator in the global market. The key benefits of these indicators are that these indicators are easy to control and easy to manufacture for multiple sizes of transformers. Moreover, traditional gas accumulation indicators are only implemented for the power transformer but this indicator also has an application for a lower rating transformer. These, recent novel designs in gas accumulation indicators are predicted to create huge opportunities in the global market.
Gas accumulation indicators market of Asia Pacific is expected to have a significant market share in the global market. The increasing requirement for flexible power systems and tremendously changing energy landscape in economies such as India and China are anticipated to drive the growth of the market in the Asian market. Also, the demand for power has increased drastically in these countries mainly because of rising urbanization and flourishing economy of the Asia-Pacific region. Furthermore, the market of smart transformers is anticipated to propel in Asian countries, mainly in South Korea, China and Japan. This boost in the transformers market is projected to drive the demand for gas accumulation indicators. Also, Singapore, India, and China are some of the significant emerging markets in the power and utility sector. The aforementioned factors are projected to surge the growth of the Asian market.
Gas accumulation indicators market of North America is projected to have significant growth, and it is anticipated to generate noticeable revenue, during the projected period. Market players of gas accumulation indicators such as QUALITROL are investing heavily in the R&D for the enhancement of the product. Enhanced focus toward upgrading the aging power infrastructure coupled with Consistent penetration of sustainable energy sources is projected to drive the demand for the electrical appliance, which, further is anticipated to fuel the growth of the gas accumulation indicator market.
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Some of the significant gas accumulation indicators market players include Nest Labs, QUALITROL, BRK Brands, Inc., United Technologies, Yondwin Enterprise Co Ltd, Leeo. Market Players prefer inorganic growth strategies to expand into local markets. Gas accumulation indicators market players are emphasizing more on merger & acquisition and advanced product development. These are the frequent strategies followed by established
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Aspect |
Particulars |
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Historical Market Estimations |
2018-2019 |
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Base Year for Market Estimation |
2018 |
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Forecast timeline for Market Projection |
2019-2026 |
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Geographical Scope |
North America, Europe, Asia-Pacific, LAMEA |
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Key Countries Covered |
U.S., Canada, Germany, France, Spain, Russia, Japan, China, India, South Korea, Australia, Brazil, and Saudi Arabia |
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Key Companies Profiled |
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Source: Research Dive Analysis
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