Albany, NY, June 22, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research Dissolved Gas Analyzer Market - Global Industry Analysis Size Share Growth Trends and Forecast 2014 - 2020, the global Dissolved Gas Analyzer market was valued at USD 277.0 million in 2013 and is expected to reach USD 538.3 million by 2020, growing at a CAGR of 11.7% from 2014 to 2020.
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Dissolved gas analyzers are used to identify levels of dissolved gases being generated in various units of oil-filled electrical equipment and power transformers. Mineral oil being used in power transformers composes of significant amounts of hydrocarbons and complex chemical components. The gases generated during power transformer operation are dissolved in the mineral oils being used in power transformers. Dissolved gas analysis used to diagnose these gases can reveal the nature and probability of faults in power transformers. The demand for dissolved gas analysis as part of the power transformer monitoring process has been triggered by multiple factors such as rising awareness towards fault probability of high voltage transformers and increasing cost replacing aging transformers. By using dissolved gas analyzers, companies can detect fault levels in power transformers in early stage. Based on early detection of "fault gases" in power transformers, utilities can deploy a maintenance program to prevent faults and extend the life cycle of power transformers.
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The increase in safety and efficiency regulations for power transformers adopted by governments across the globe is expected to drive the growth of dissolved gas analyzer market. In emerging countries such as China, India and Indonesia among others, governments are investing huge amounts in industrial infrastructure projects and extending power capacity of power transformers to meet the electricity shortage. In order to ensure safety and early detection of faults of high voltage transformers, demand for dissolved gas analyzers is expected to rise in emerging countries during the forecast period from 2014 to 2020. In addition, increasing demand for online power transformer monitoring is estimated to drive the growth of dissolved gas analyzer market during the forecast period.
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The global dissolved gas analyzer market, by analysis type, can be segmented into six segments namely early warning dissolved gas analysis (DGA) monitoring, smoke alarms, comprehensive DGA monitoring, database software, laboratory services and portable DGA devices. As of 2013, the laboratory services segment was the largest contributor in global dissolved gas analyzer market, accounting for a market share of 39.2%. Demand for laboratory services is triggered by increasing application of process analytics to monitor complex and multiple gas formation in high voltage power transformers. Furthermore, companies outsource the laboratory services to dissolved gas analyzer vendors to reduce overall cost of ownership of power transformers. Integration of state-of-the-art laboratory services such as multiple fault detection, gas chromatography and Photoacoustic spectroscopy among others has increased the scope of applications for dissolved gas analysis process. Considering the positive impact of these factors, the demand for dissolved gas analyzers is expected to increase during the forecast period from 2014 to 2020.
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The global dissolved gas analyzer market has been segmented into four regions: North America, Europe, Asia Pacific and Rest of the World. As of 2013, Asia Pacific dominated the global dissolved gas analyzer market, accounting for 35.0% share. Increasing awareness towards safety and monitoring of power transformers is expected to drive the growth of dissolved gas analyzer market in Asia Pacific. Furthermore, the growing penetration of low cost portable dissolved gas analyzers in countries such as China, India and South Korea among others is expected to drive the growth of dissolved gas analyzer market in Asia Pacific during the forecast period 2014 to 2020.
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Some of the leading players in the market are LumaSense Technologies (U.S.), Weidmann (U.S.), General Electric (U.S.), Morgan Schaffer Corporation (Canada), ABB Ltd. (Switzerland), Doble Engineering (U.S.), Gatron GmbH (Germany), OELCHECK GmbH (Germany), SD Myers, Inc. (U.S.), Qualitrol LLC (U.S.), EMH (Germany), and Sieyuan Electric Co., Ltd. (China). The report provides estimates in terms of revenue (USD Million) from 2014 to 2020 by studying the global dissolved gas analyzer market. Competitive analysis of various market segments based on the extraction types, power rating and analysis type and in-depth scrutiny of the dissolved gas analyzer market across different geographic segments falls under the scope of the report.
The Global DGA Market is segmented into:
Dissolved gas analyzer market, by extraction type
- Vacuum extraction or rack method
- Head space extraction
- Stripper column method
- Others (multiple gas extractor)
Dissolved gas analyzer market, by analysis type
- Smoke alarms
- Early warning DGA monitoring
- Comprehensive DGA monitoring
- Laboratory services
- Database software
- Portable DGA devices
Dissolved gas analyzer market, by power rating:
- 100 MVA - 500 MVA
- 501 MVA - 800 MVA
- 801 MVA - 1200 MVA
Dissolved gas analyzer market, by geography:
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- South Africa
- Rest of Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East
- Rest of South America
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research