Transformer Monitoring System Market Size, Growth Strategies, Competitive Landscape, Factor Analysis, 2030
Global Transformer Monitoring System Market Overview: Transformer Monitoring System Market is expected to grow at a CAGR of 11.81% till 2030. Transformer monitoring system solutions are integrated by power and utility companies to manage the health of transformers remotely. They will be implemented in smart cities and countries looking to implement smart solutions for controlling energy consumption. MRFR’s report on the transformer monitoring system market outlines drivers and opportunities for the forecast period (2022-2030). The sudden outbreak of the COVID-19 pandemic and its cascading effects on the industry are explored below. COVID-19 Impact The COVID-19 outbreak had weakened the market owing to hurdles in supply chains and production delays of transformers. Dependence on Chinese suppliers for components and lockdown restrictions can wear down manufacturers. The halt on new substation projects and lack of tax benefits can prove detrimental to the market. This will cau...