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The transformer monitoring system market exhibited year-on-year growth of 10.9% in 2021, backed by increasing adoption of green transformers leading to the up-gradation of associated monitoring systems and growing emphasis on improving the reliability of the power grid. FMI states that transformer monitoring system market revenue grew by 8.5% between 2016 and 2020.

Recent years have seen an increase in electricity consumption due to rapid urbanisation and increased industrial activity. As the world moves toward smart grids for more efficient power distribution, the demand for transformer monitoring systems is expected to rise over the forecast period. According to FMI, revenue from transformer monitoring systems will increase at a CAGR of 10.1 per cent between 2021 and 2031.

The transformer monitoring system is a process-oriented system that measures quantities such as voltage and current, estimates measurement data using an algorithm, generates trends, and monitors models. During the assessment period, the introduction of internet of things (IoT)-based smart transformer technologies will boost the market growth.

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Green transformers are gaining popularity due to their low carbon footprint and high efficiency and reliability. To monitor these new transformers retrofit installations are required. Increasing renewable energy penetration and rising sales of green transformers will accelerate the demand for retrofit transformer monitoring systems in upcoming years.

According to International Energy Agency, global electricity consumption reached 22,848 TWh in 2019. China, India, Russia, and Brazil account for more than 39% of global consumption. The rise in electricity consumption in developing countries will boost market sales over the forecast period.

Top manufacturers are striving to reduce the installation cost of the monitoring system and make them more reliable and accurate. However, unpredictability in terms of regulatory policies and strained supply chain systems are the key challenges influencing the global market for transformer monitoring systems.

Key Takeaways from FMI’s Transformer monitoring system Market Study

• North American transformer monitoring system market will exhibit stupendous growth at 10.6% CAGR through 2031, due to rapid industrialization, and the growing necessity to upgrade monitoring systems concerning transformers in U.S. and Canada.
• The Europe transformer monitoring system market led by Germany is forecast to grow at 7.6% CAGR during the forecast period. The rise in growth can be attributed to the rising adoption of green transformers and the presence of leading manufacturers in the region.
• The incorporation of modern monitoring systems to tackle power outages and related issues in an urban areas will drive the demand for transformer monitoring systems in India.
• Japan and South Korea account for 3% of the global transformer monitoring system market share in 2021. The increasing need to monitor large and complex power networks and the high demand for retrofit installation are key growth drivers in these countries.
• By product type, the software segment is projected to surpass the market valuation of US$ 277 at a CAGR of 10.3% in 2021. Advancements in big data analytics and the introduction of the internet of things (IoT) in monitoring systems will drive the market growth of this segment.

“It will be interesting to see how modernization in electricity transmission system will influence the demand for transformer monitoring system during the forecast period. The rising necessity to upgrade monitoring systems to comply with green transformers will boost the market growth in upcoming years,” says the FMI analyst.

Prominent players operating in the transformer monitoring system market are:-

• ABB Group
• Siemens AG
• General Electric
• Mitsubishi Electric Power Products Inc.
• Eaton Corporation
• Hitachi Ltd.
• Qualitrol Company LLC
• Koncar-Electrical Engineering Institute Inc.
• Maschinenfabrik Reinhausen GmbH (MR)
• CETT Co., Ltd.
• Groupe Cahors
• Camlin Power
• MTE Meter Test Equipment AG
• Advanced Power Technologies LLC

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More Insights on the Transformer monitoring system Market

In its latest report, FMI offers an unbiased analysis of the global transformer monitoring system market, providing historical data from 2017 to 2027 and forecast statistics for the period of 2021-2031. To understand the global market potential, its growth, and scope, the market is segmented based on by product type (hardware and software monitoring system), by application type (dissolved gas analysis, partial discharge, bushing monitoring, cooling control, and voltage regulation system), by installation type (newly installed units and retrofit units), by end-use (power transformers, distribution transformers, and other transformers), and by region (North America, Latin America, Western Europe, Eastern Europe, the Asia Pacific excluding Japan, Japan, and the Middle East & Africa)

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According to Future Market Insights (FMI), the U.S. Commercial Walk-In Refrigeration Market will be worth US$ 1,980.1 Mn by 2032 after expanding at a CAGR of 4.31% between 2022 and 2032.

Due to the benefits of everyday habits, such as those of the food and medical industries, a refrigeration system is necessary. Cold storage rooms with coolers and freezers and a floor area of less than 3000 square feet are called walk-in refrigerators, and they are used to cool or freeze food, beverages, pharmaceuticals, and other perishable goods. They are utilised in a range of industries that deal with the cold chain, including those that work with food and drink, industrial kitchens, retail food establishments, medicine, chemicals, and other sectors.

Some of the elements affecting American growth A growing population, tight government laws and regulations regulating refrigerated systems, a growth in commercial restaurants and retail food services, and expanding purchasing power are all factors in the commercial walk-in refrigeration market.

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Currently, the Commercial Walk-In Refrigeration Market in the United States is dominated by the Southern States. By 2032, the Southern United States will control 41.5% of the market, according to an analysis by FMI.

It is anticipated that commercial restaurants, retail food service, and a variety of other end applications will all increase their use of refrigeration systems for food service. E-commerce websites increasingly use warehouses and distribution hubs, making it possible for clients to simply modify their orders and pick them up. This increased consumer demand for quick-serve, ready-to-eat food is what is anticipated to fuel the expansion of the commercial food industry throughout the course of the projected period.

The growing consumer concern about product quality, particularly the effectiveness & life of raw materials used in production as well as it should be in accordance with government norms and regulations, is addressed through research and development on commercial walk-in refrigeration. The southern part of the country makes up a larger portion of the country. Market for commercial walk-in refrigeration.

Factors are bolstering the Commercial Walk-In Refrigeration Market

“Growing Number of Retail Stores and Demand for Ready-to-Eat Products”

The food business has a major problem as a result of a change in lifestyle, particularly with regard to the kinds of foods consumed and the amount of time spent on these activities. Foodservice providers are increasing their capital spending in walk-in coolers and freezers to accommodate the growing demand from customers for frozen meals and chilled goods. Another factor influencing demand for walk-in coolers and freezers is the expansion of limited service restaurant franchises and approved locations.

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On the other hand, the US market for this industry is quite fragmented, which can accommodate the rise in walk-in business brought on by the nation’s recent significant increase in the number of retail locations. The end-use sector’s primary goal is to capitalise on Americans’ rising spending power, particularly in the South and West. However, the retail business has expanded greatly in certain regions as a result of the governments’ policies that encourage investment.

“Rebates for Energy-Efficient Products and Practices from Various Organizations”

Commercial walk-in refrigerator producers are concentrating their efforts on research and development (R&D) activities to create inventive and unique technologies for these systems that may satisfy both consumer demand and societal standards and regulations. A variety of worldwide governmental and non-governmental organisations may give manufacturers of walk-in refrigeration systems and equipment incentives for using energy-saving and ecologically friendly production methods.

The Energy Star voluntary programme is jointly managed by the Environmental Protection Agency (EPA) and Department of Energy (DOE) in the US. By establishing high energy efficiency standards for walk-in coolers and refrigeration equipment, it encourages environmental conservation while also giving businesses and individuals incentives.

By increasing the private sector’s supply of renewable energy and lowering energy use through improved energy efficiency, this project helps the United States achieve greater energy independence. Efforts to improve energy efficiency are predicted to increase demand for walk-in coolers and freezers.

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.

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Over the forecast period, it is anticipated that the India power tool market will grow at a healthy CAGR of 8.9 percent in terms of value and 9.5 percent in terms of volume (2016–2026). Power tool market revenue growth can be attributed to a number of factors, about which FMI provides in-depth insights in the report.

By the end of 2022, the market for oil & gas valves is anticipated to reach more than US$ 12.5 Bn. During the forecast period of 2022-2029, the global market for oil & gas valves is expected to grow at a 3.5% CAGR.

Future Market Insights’ (FMI) market study titled, ‘Oil & Gas Valves Market: Global Industry Analysis 2014–2021 and Opportunity Assessment 2022–2029’, analyses the global oil & gas valves market, and provides an in-depth analysis on the forecast period of 2019-2029.

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Downstream Applications Contributing a Major Share to Oil & Gas Valves Market

By product type, the global oil & gas valves market has been segregated into gates, globes, balls, butterflies, checks, PRVs, and others. The gate type of oil & gas valves are estimated to continue recording a high market value share throughout the projected period, while recording a high CAGR simultaneously.

With respect to the different sizes of oil & gas valves, the oil & gas valves market has been segmented into 0.25 to 8 inches, 8 to 20 inches, and above 20 inches.

By the end of the year 2029, the 0.25 to 8 inch-sized oil & gas valves segment is estimated to hold more than half of the global oil & gas valves market share.

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With regards to application, the global oil & gas valves market has been segregated into upstream, midstream, and downstream applications. The downstream applications of oil & gas valves are estimated to contribute the most to the market size of the global oil & gas valves market.

Rising Energy Need and Multiple Oil and Gas Projects in Pipeline Accelerate Market Growth in Developing Countries

Among all the regional markets, the oil & gas valves market in North America is estimated to account for over one-fourth of the global oil & gas valves market share throughout the forecast period, due to continuous advancements in the North American oil & gas and shale industry.

With a booming oil & gas industry in the Western Africa and Northern African countries, the oil & gas valves market in the Middle East & Africa is estimated to record the second-largest market share throughout the forecast period.

The oil & gas valves market in China, India, and Brazil are estimated to be emerging markets due to the growing energy needs, new oil & gas projects, improved economic conditions, and continuous industrialization and urbanization in these countries.

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The oil & gas industry is extremely competitive, due to the high presence of established market players. This, in turn, makes the oil & gas valves market fairly fragmented.

Leading market players in the oil & gas valves market are very well-established across all the regional markets.

Some of the key vendors in the global oil & gas valves market are Emerson Electric Co., CIRCOR International Inc., Schlumberger Limited, PARKER HANNIFIN CORP, Weir Group Plc., Metso Corporation, and BHGE (BAKER HUGHES, a GE Company), among others.

Key vendors in the oil & gas valves market must focus on investing in research and development-related projects, particularly in emerging markets such as China, Brazil, and India.

Commercial Refrigeration Compressors Market: Vendor Insights

The report highlights some of the main companies that are operating in the global commercial refrigeration compressors market, such as Emerson Electric Co., HUAYI COMPRESSOR CO., LTD., Mitsubishi Electric Corporation, LG Electronics, Inc., The Danfoss Group, Panasonic Corporation, BITZER SE, GEA Group AG, Frascold S.p.A., Fusheng Co., Ltd., Nidec Corporation, Midea Group, Officine Mario Dorin S.p.A., Johnson Controls – Hitachi Air Conditioning, and Tecumseh Products Company LLC.

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 7-years.

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The global temporary storage buildings market is expected to be worth around US$ 1536.9 million in 2022, with sales expected to grow at a 6.3% CAGR from 2022 to 2032, reaching US$ 2831.3 million by 2032. Global industrialization is increasing the demand for storage space to house tools, equipment, and raw materials in one location. This will increase future demand for temporary storage buildings.

Temporary storage buildings are quick and simple arrangements that are commonly used for storage-related applications. These storage areas are simple to construct because they do not require a concrete foundation or brick walls. Overall, these storage buildings are both cost-effective and modern.

At the same time, they are the adaptable, long-lasting substitute. Furthermore, it is easily dismantled and repositioned between work sites to meet future needs.

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Europe holds a major share in the global temporary storage buildings market. It is followed by North America and Asia Pacific. Europe is projected to be major consumers owing to the extensive applications of temporary storage buildings in the manufacturing Industry.

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

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Market Participants

Some of the examples of the market participants operating across the value chain of the global Temporary Storage Buildings market are:

• RÖDER HTS HÖCKER GmbH
• Shelter Tent Manufacturing Co., Ltd
• Spaciotempo
• Portable Venues (Group) Ltd
• Big Top Manufacturing
• MAHAFFEY FABRIC STRUCTURES
• Losberger US LLC, USA
• Kopron Spa
• MegaDome Buildings
• Milestones Building & Design

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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By Segmentation:

On the basis of the type, the temporary storage buildings market can be segmented as follows:

• Storage Buildings
• Retail & Showroom Buildings
• Educational Buildings
• Recreational Buildings
• Public Sector Buildings
• Emergency Buildings

On the basis of the structure of building, the temporary storage buildings market can be segmented as follows:

• Industrial Canopies
• Storage Protect Range
• Insulated Buildings

On the basis of the end use industry, the temporary storage buildings Market can be segmented as follows:

• Chemicals & Petrochemicals
• Automotive
• Mining & Metals
• Cement
• Construction
• Shipbuilding and construction
• Logistics
• Agriculture
• Others

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