The dissolved gas analyzer market size was valued at USD 384.9 Billion in 2023 and is expected to reach a market size of USD 492.9 Billion by 2032 at a CAGR of 2.8%.
Fort Collins, Colorado, May 05, 2024 (GLOBE NEWSWIRE) --
The need for dependable power transformers drives the demand for the dissolved gas analyzer market.
Technological advancements are playing a pivotal role in shaping the growth of the dissolved gas analyzer market. The demand for reliable power transformers is driving industrialists to innovate and develop superior technological solutions to meet customer needs. The evolution of portable molten gas analyzers has significantly improved their capabilities. The advent and adoption of the Industrial Internet of Things (IIoT) is ushering in a new era of automation in troubleshooting processes for the energy sector. The increasing use of smart grids in countries like the US, UK, Germany, China, and India is necessitating the installation of analyzers for consistent error detection.
The rising usage of power transformers across diverse industries is anticipated to boost the demand for digital gas analyzers. Additionally, heightened investment in the development of industrial infrastructure serves as another significant trend propelling market growth in the forecast period. Furthermore, the escalating adoption of online dissolved gas analysis for continuously monitoring transformer health contributes to market expansion. Remote monitoring entails the study of received data. Notably, the dissolved gas analyzer market is subject to stringent regulations due to the growing significance of its applications.
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Segmentation Overview:
The dissolved gas analyzer market has been segmented into extraction type, power rating, analysis type, and region.
The vacuum extraction type is leading in the coming years.
The 100– 500 MVA is leading the power rating segment that is projected to retain a significant market share in the forecast period.
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