Dissolved Gas Analyzer Market To Reach USD 492.9 Billion By 2032 | DataHorizzon Research
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.*
· Based on extraction type, the market is categorized into vacuum extraction or rack method, headspace extraction, stripper column method, and others. The vacuum extraction or rack method is estimated to dominate the market in 2023 with a major share. The vacuum extraction method is a non-destructive testing method that does not damage or disturb the equipment.
*The 100– 500 MVA is leading the power rating segment that is projected to retain a significant market share in the forecast period.*
· Based on power rating, the market is trifurcated into 100 – 500 MVA, 501 – 800 MVA, and 801 – 1200 MVA. The 100– 500 MVA segment is expected to capture the major market share due to minimum maintenance and purchase costs. The 501– 800 MVA segment is also a key market segment, as these devices can combine data from transformer condition-based monitoring devices to accurately identify critical transformer fault types.
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*Dissolved Gas Analyzer Market Report Highlights:*
· The dissolved gas analyzer market growth is anticipated at a *CAGR of 2.8% by 2032.*
· The main purpose of DGA is to detect faults in power transformers and other oil-filled electrical equipment. DGA helps detect faults by analyzing the gas produced by the breakdown of mineral oil in the electric transformer.
· Asia Pacific is leading the dissolved gas analyzer market growth with the majority of the share. The growth is due to the proliferation of dissolved gas analyzers in the oil and gas industry. Developing economies such as India, Thailand and Malaysia are rapidly increasing investment in electricity distribution infrastructure, leading to constructing of electricity transformers.
· Some prominent players in the dissolved gas analyzer market report include Doble Engineering Company, General Electric Company, Advanced Energy Industries, Inc., Qualitrol Company LLC, Siemens, SDMyers, Vaisala, Weidmann Electrical Technology AG, Camlin Ltd, Hitachi Energy Ltd., SRI Instruments, MM Tech, HV Hipot Electric, MTE Meter Test Equipment AG, and Ap2e.
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