Industrial Control Transformer Market to Witness A Phenomenal Growth by 2023

According to the latest research report "Industrial Control Transformer Market by Phase (Single and Three), Power Rating (25–500 VA, 500–1,000 VA, 1,000–1,500 VA, and > 1,500 VA), End-User (Power Generation, Oil & Gas, Chemical, Metal & Mining), and Region - Global Forecast to 2023", The industrial control transformer market is expected to grow from an estimated USD 809.2 Million in 2018 to USD 1,039.8 Million by 2023, at a CAGR of 5.14%. The positive growth rate of this market can be attributed to increased usage of industrial control transformers across major industries, booming power sector and augmented power generation capacities worldwide, and need to reduce equipment failure caused by frequent voltage spikes.                                                                           

Browse 62 market data Tables and 36 Figures spread through 127 Pages and in-depth TOC on "Industrial Control Transformer Market - Global Forecast to 2023"

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The three-phase segment is expected to hold the largest share of the industrial control transformer market during the forecast period

Three-phase industrial control transformers are mostly used in heavy industrial applications as it can easily carry high power for the operations. Also, the three-phase power transmission requires less copper and aluminum, as compared to single-phase, to transfer a certain amount of power. It is the most economical way of power transmission. Therefore, three-phase industrial control transformer segment is expected to have the largest market size during the forecast period.

The above 1,500 VA power rating industrial control transformers are expected to grow at a high rate during the forecast period

Industrial control transformers installed in above 1,500 VA find application in oil & gas and power generation industries in various power equipment such as drafts fans, compressors pumps, and drillers. In oil & gas industries, this equipment works on critical load requirement and need to be regulated accurately because, in case of voltage inconsistencies, there is a substantial chance of explosions and is thus expected to drive the industrial control transformer market till the forecast period.

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Asia Pacific is expected to dominate the industrial control transformer market during the forecast period

In this report, the industrial control transformer market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific is expected to hold the largest share of this market during the forecast period due to industrialization and infrastructural developments majorly in China and India.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the industrial control transformer market. These players include ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Schneider (France), GE (US), Hubbell (US), Emerson (US), and Rockwell (US).

Browse relates reports:

Smart Transformers Market by Component (Converters, Switches, Transformers, Hardware for Transformer Monitoring), Type (Power, Distribution, Specialty, and Instrument), Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region - Global Forecast to 2022

Instrument Transformers Market by Type (Current, Potential, and Combined Instrument Transformers), Enclosure Type (Indoor and Outdoor), Dielectric Medium (Solid, Liquid, and SF6 Gas), Voltage, Application, End-User, and Region - Global Forecast to 2022

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Scrubber System Market 2023 Expected to Rise at A Higher CAGR Value, Driving Factors, Sales and Revenue

According to the new market research report "Scrubber System Market by Type (Wet (Design), Dry (Sorbent Mixing)), End-User (Marine, Oil & Gas, Petrochemicals & Chemicals, Pharmaceuticals, Glass, Pulp & Paper, Food & Agricultural, Wastewater Treatment), and Region - Global Forecast to 2023" The global scrubber system market is projected to reach USD 1.86 Billion by 2023. The scrubber system market is expected to grow from an estimated USD 1.02 Billion in 2018 to USD 1.86 Billion by 2023, registering a CAGR of 12.82% during the forecast period. This growth is primarily due to the growing stringent environmental regulations to reduce atmospheric emissions.                                                                           

Browse 70 market data Tables and 35 Figures spread through 127 Pages and in-depth TOC on "Scrubber System Market - Global Forecast to 2023"
 

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Wet scrubber segment is expected to hold the largest share of the scrubber system market, by type, during the forecast period

The wet scrubber segment led the scrubber system market in 2017, and is projected to dominate the market during the forecast period. Wet scrubbers are effective air pollution control devices for removing particles as well as gases from industrial exhaust streams. Wet scrubbers are generally the most appropriate air pollution control device for collecting both particulates and gas in a single system. The wet scrubbers segment is further sub-segmented into packed bed scrubber, spray scrubber, and venturi scrubber. The soaring demand for such efficient scrubbers from the shipping industry to abide by new exhaust gas emission regulations is the factor driving the wet scrubber market.

Marine segment is expected to be the fastest growing in the scrubber system market, by end-user, during the forecast period

Marine industry is expected to be the fastest growing end-user segment during the forecasted period from 2018 to 2023. Scrubbers have been incorporated in various vessels around the globe such as roll-on/roll-off (RO-RO), ferries, cruise ships, container ships, and very large crude carriers (VLCCs) as these vessels are heavy emitters of SOx. Scrubber systems help ship owners to continue burning less expensive high-sulfur fuel while ensuring emissions are MARPOL compliant.

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Europe: The leading market for scrubber system

In this report, the scrubber system market has been analyzed with respect to five regions, namely, Europe, Asia Pacific, North America, South & Central America, and the Middle East & Africa. The European region is projected to hold the largest market share in the global scrubber system market in 2023. The IMO has set a global limit for sulfur in fuel oil used on board ships of 0.50% m/m (mass by mass) from 1 January 2020, which means that shipping companies are liable to take measures to mitigate sulfur oxide emissions generated by their ships. Meanwhile, the objective of Europe’s proposed 20-20-20 target is 20% increase in energy efficiency, 20% reduction of CO2 emissions, and 20% of the region’s energy from renewables by 2020. All these factors are expected to boost the scrubber system market in the European region.  

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the scrubber system market. These players include DuPont (US), Alfa Laval (Sweden), Yara Marine (Norway), Wärtsilä (Finland), and B&W (US). The leading players adopted various strategies to increase their market shares such as contracts & agreements, new product launches, and mergers & acquisitions.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Mr. Aashish Mehra
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Motor Monitoring Market To Witness Huge Gains Over 2018-2023 | ABB, Siemens, Honeywell, GE, Emerson, Eaton, SE

Global Motor Monitoring Market Overview

The motor monitoring market is expected to grow from USD 1.6 billion in 2018 to USD 2.3 billion by 2023, at a CAGR of 7.4% during the forecast period. Major factors driving the market growth are the growing prominence of predictive maintenance and increasing need to minimize revenue loss caused by motor faults.

Software offerings to witness higher CAGR in global motor monitoring market during forecast period

The motor monitoring market has been segmented on the basis of offering into hardware and software. The use of software offerings to collect data from hardware monitoring and generate a database to analyze the working of motors is likely to grow during the forecast period. These software are used for data analytics to deduce faults or errors in motors in a manufacturing plant; however, skilled workforce is required to successfully run preventive or predictive maintenance through motor condition monitoring solutions.

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Oil & gas to continue to hold largest share in global motor monitoring market during forecast period

The oil & gas industry held the largest share of the motor monitoring market in 2018, and it is expected to be the leading segment over the forecast period. Oil & gas companies have been emphasizing on increasing productivity and lowering operating costs in response to the pressure built by the fluctuating oil prices in the global market. Hence, these industries are likely to adopt monitoring solutions and related services to maintain the efficient working of their critical assets and reduce downtime.

APAC to hold largest share of motor monitoring market by 2023

APAC is expected to overtake North America to hold the largest share of the motor monitoring market by 2023. The region has a huge industrial sector with the presence of several manufacturing units of big companies. APAC has become a global focal point for large investments and business expansion opportunities. Many countries in this region also has supportive governments that implement several initiatives and policies to support the local manufacturing industry. China, Japan, South Korea, and India are some of the prolific countries in APAC with a considerable presence of manufacturing industries; therefore, there is a continuous demand for motor monitoring systems in APAC.

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Key market players -

Banner Engineering (US), ABB (Switzerland), National Instruments (US), SKF (Sweden), Siemens (Germany), Honeywell (US), General Electric (US), Emerson Electric (US), Rockwell Automation (US), Qualitrol (US), Schneider Electric (France), Mitsubishi Electric (Japan), Advantech (Taiwan), Eaton (Ireland), WEG (Brazil), Dynapar (US), KCF Technologies (US), Phoenix Contact (Germany), T.F. Hudgins (US), and Koncar (Croatia).

Report Objectives

• To define, describe, and forecast the motor monitoring market, in terms of value, segmented on the basis of offerings, monitoring process, deployment, industry, and geography
• To forecast the market size with regard to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
• To provide detailed information regarding drivers, restraints, opportunities, and challenges the growth of the motor monitoring market
• To provide an overview of the value chain analysis pertaining to the motor monitoring industry
• To strategically analyze each submarket with respect to individual growth trends and contribution to the overall motor monitoring market
• To analyze opportunities in the market for stakeholders by identifying high-growth segments of the motor monitoring market
• To profile key players in the motor monitoring market and comprehensively analyze their core competencies
• To analyze competitive developments such as partnerships, product launches and developments, contracts, and mergers and acquisitions carried out in the global motor monitoring market

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com