North America Transformer Monitoring System Market Size & Outlook
The transformer monitoring system market in North America is expected to reach a projected revenue of US$ 1,111.9 million by 2030. A compound annual growth rate of 9.8% is expected of North America transformer monitoring system market from 2024 to 2030.
Revenue, 2023 (US$M)
$578.0
Forecast, 2030 (US$M)
$1,111.9
CAGR, 2024 - 2030
9.8%
Report Coverage
North America
North America transformer monitoring system market highlights
- The North America transformer monitoring system market generated a revenue of USD 578.0 million in 2023.
- The market is expected to grow at a CAGR of 9.8% from 2024 to 2030.
- In terms of segment, hardware solutions was the largest revenue generating component in 2023.
- Hardware Solutions is the most lucrative component segment registering the fastest growth during the forecast period.
North America data book summary
| Market revenue in 2023 | USD 578.0 million |
| Market revenue in 2030 | USD 1,111.9 million |
| Growth rate | 9.8% (CAGR from 2024 to 2030) |
| Largest segment | Hardware solutions |
| Fastest growing segment | Hardware Solutions |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware Solutions |
| Key market players worldwide | GE HealthCare Technologies Inc Common Stock, ABB Ltd, Siemens Energy AG ADR, Schneider Electric SE, Eaton Corp PLC, MISTRAS Group Inc, Mitsubishi Electric Corp, Hitachi Energy, Maschinenfabrik HEID |
Other key industry trends
- In terms of revenue, North America region accounted for 23.3% of the global transformer monitoring system market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 1,111.9 million by 2030.
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Transformer Monitoring System Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Hitachi Energy | View profile | 10001+ | Zürich, Zurich, Switzerland, Europe | https://www.hitachienergy.com/ |
| Maschinenfabrik HEID | View profile | 1-10 | Stockerau, Niederosterreich, Austria, Europe | http://www.heid.info |
| MISTRAS Group Inc | View profile | 4800 | 195 Clarksville Road, Princeton Junction, NJ, United States, 08550 | https://www.mistrasgroup.com |
| Eaton Corp PLC | View profile | 94000 | 30 Pembroke Road, Eaton House, Dublin, Ireland, D04 Y0C2 | https://www.eaton.com |
| Siemens Energy AG ADR | View profile | 97000 | Otto-Hahn-Ring 6, Munich, BY, Germany, 81739 | https://www.siemens-energy.com |
| ABB Ltd | View profile | 108700 | Affolternstrasse 44, Zurich, Switzerland, 8050 | https://www.abb.com |
| Schneider Electric SE | View profile | 162339 | 35, rue Joseph Monier - CS 30323, Rueil Malmaison, France, F-92506 | https://www.se.com |
| Mitsubishi Electric Corp | View profile | 149134 | Tokyo Building, 2-7-3, Marunouchi, Chiyoda-ku, Tokyo, Japan, 100-8310 | https://www.mitsubishielectric.com |
| GE HealthCare Technologies Inc Common Stock | View profile | 51000 | 500 West Monroe Street, Chicago, IL, United States, 60661 | https://www.gehealthcare.com |
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