Automation - New USP of Dissolved Gas Analyzers
The dissolved gas analyzer market is poised to cross the half-billion dollar mark by 2027, and a significant chunk of this revenue will arrive from the power industry. Considering the gravity of concerns associated with the use of faulty power transformers, operators of utility businesses are observed establishing frequent repair and maintenance programs for fault detection at an early stage by leveraging dissolved gas analyzers.
The high replacement cost of depreciating transformers, coupled with the low installation and maintenance cost required by dissolved gas analyzers, is the primary success factor promoting the growth of the dissolved gas analyzer market.
In the technology-driven landscape, players in the dissolved gas analyzer market rely on innovation for consolidation, and it is anticipated that, ongoing undercurrents of the Fourth Industrial Revolution will further complement the functionalities of these analyzers with the help of automation.
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Modern End Users Demand Intelligent Dissolved Gas Analyzers
In the power industry, where drudgery is a common feature, utility operators are rethinking their business models in the lines of intelligent ones that eliminate human intervention and offers remote access to the site. Given the influence of this demand, players in the dissolved gas analyzer market are integrating artificial intelligence with their products to develop neural networks that could facilitate AI-based DGA monitoring.
Several efforts have been taken by renowned institutes to analyze the combination of this technology. In 2019, Electric Power Research Institute (EPRI) categorized over 640,000 DGA records from 46,600 transformers from 27 utilities operating globally, to evaluate the scope of AI in the future development of DGAs.
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Consumption of Online Dissolved Gas Analyzers to Remain High
Competition in the DGA market is based on parameters such as longer lifespan, budget-friendliness, reliability, sensitivity, and maintenance requirements, which has led to the development of non-dispersive infrared (NDIR) gas analyzers. The competency of NDIR-based gas analyzers to seamlessly operate with chemicals is underpinning these analyzers in exceeding their current adoption rate.
However, despite numerous proficient technologies integrated into dissolved gas analyzers to make them function- and feature-rich, online dissolved gas analyzers are estimated to account for ~87 percent of the total sales in 2019. These analyzers are deemed suitable given their continuous gas monitoring functionality, which reduces physical site visits involving the collection of manual samplings. Given the convenience factor, it is imperative that, players in the dissolved gas analyzer market should invest heavily in the manufacturing of online DGAs.
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Government Initiatives for Rural Electrification to Uphold Demand for DGAs in Asia Pacific
In 2019, the government of India became successful in distributing electricity to 25 Mn new households in rural areas. In 2017, China achieved 100% electrification for its 1.4 Bn population. The Myanmar National Electrification Plan intends to electrify 100% of the nation’s households by 2030. Such stats recorded in the TMR study imply that, Asia Pacific makes a high potential DGA market on account of government manifestos of countries such as China, India, and Japan to achieve rural electrification, which has increased the concentration of power plants in these countries.
A magnified focus on the safe and efficient operations of dissolved gas analyzers is hard-pressing market players to take a qualitative approach. The trend is also likely to fast-penetrate in India and China, which will necessitate the shift towards advanced technology in Asia Pacific, and further improve the region’s share in the dissolved gas analyzer market.
Authors of the TMR study opine that, the dissolved gas analyzer market is projected to advance at an average CAGR of ~4 percent during the period of 2019-2027. To win in this competitive landscape, players in the DGA market resort to technology in order to stay ahead of the growth curve. For instance, a leading player - GE Electric Co., announced the introduction of Kelman DGA 900, which is an advanced version of online multi-gas and moisture analyzers.
Partnerships and collaborations with power generation companies are also observed as a strategic move for market players. For example, Vaisala Oy offered its DGA solutions to Zhejiang Zheneng Shaoxing Binhai Thermoelectric, to improve the service life of its transformers and reduce the occurrence of transformer failures during operations.
Dissolved Gas Analyzer Market: Overview
- According to Transparency Market Research’s latest research report on the global dissolved gas analyzer market for the historical period of 2017–2018 and forecast period of 2019–2027, increase in investments toward the development of utility infrastructure as well as growing awareness about the benefits of dissolved gas analyzers is expected to boost the global dissolved gas analyzer market during the forecast period.
- In terms of revenue, the global dissolved gas analyzer market is estimated to reach a value of ~US$ 535 Mn by 2027, expanding at a CAGR of ~4% during the forecast period.
- In terms of volume, the global dissolved gas analyzer market is projected to reach ~29,000 units by 2027, expanding at a CAGR of ~5% during the forecast period.
Increasing Awareness about Benefits of Dissolved Gas Analyzers (DGAs): A Key Driver
- A power transformers is a highly significant asset of an electric power substation. The reliability of the electric power industry largely depends on the efficient functioning of power transformers, as well as their maintenance. They are also one of the most expensive assets in a utility system.
- Consequently, it is highly recommended that, new transformers must be examined carefully, since they have not been loaded fully and operated in a plant environment. Several DGA samples, if taken and analyzed in the initial year of operation during the warranty period of transformers, can lead to the discovery of construction and design flaws.
- Furthermore, power transformers have a life expectancy of over 40 years; however, the higher loading of aging transformers and their poor maintenance can lead to unexpected and expensive disruptions and faults, leading to breakdowns.
- Therefore, effective condition monitoring is the only means of proactively moderating the threat of transformer downtime. Increasing awareness regarding the same is driving the dissolved gas analyzer market across the world.
Increasing Demand for Online Dissolved Gas Analyzers: Latest DGA Market Trend
- The traditional method of laboratory DGAs is performed either annually or bi-annually.
- On the other hand, online dissolved gas analyzers can monitor the health of a transformer more frequently. Therefore, the risk of an unexpected failure and expensive consequences of the associated outage are significantly reduced.
- Furthermore, valuable inputs regarding the repair, replacement, and maintenance of transformers can also be derived from these results.
- Moreover, in laboratory analysis, if a transformer is located in a remote area, the cost savings of sending a person to obtain DGA samples less often could easily justify the installation of an online sensor.
- The factors mentioned above have led online DGA monitoring to emerge as a powerful early detection system that does not require excessive site visits and manual sampling.
Dissolved Gas Analyzer Market: High Cost a Major Challenge
- The prices of dissolved gas analyzers range from US$ 10,000 to US$ 50,000. This price is considerably low as compared to that of new large power transformers; however, the total cost of ownership, which includes installation, life-time service operation, and maintenance, is still considered a significant investment. In 2012, LumaSense Technologies conducted a survey among power industry professionals, in which 70% respondents mentioned that, price is a highly critical factor when choosing online DGA instrumentation.
- However, the impact of this factor is expected to be medium in the short term, and reduce to low in the long term, owing to increasing awareness regarding the importance of DGAs and falling prices of online devices.
Global Dissolved Gas Analyzer Market: Competition Landscape
- Detailed profiles of providers of dissolved gas analyzers have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies.
- Key players operating in the global DGA market are -
- ABB Ltd
- Doble Engineering Ltd
- EMH Energy-Messtechnik GmbH
- General Electric Co.
- LumaSense Technologies Inc.
- Qualitrol Company LLC
- Weidmann Electrical Technology
- Siemens AG
- Sieyuan Electric Co. Ltd
- Vaisala Oyj
Global Dissolved Gas Analyzer Market: Key Developments
Key providers of dissolved gas analyzers, such as General Electric Co., are focusing on product innovation and development to expand their customer base. Furthermore, companies such as ABB Ltd and Vaisala Oy are developing their patented technologies for dissolved gas analysis. Other key developments in the global dissolved gas analyzer market are as follows:
- In March 2018, Esco Technologies Inc. acquired Manta Test Systems Inc., and added its offerings to the product line of its subsidiary, Doble Engineering Ltd, to strengthen its ability to grow internationally.
- In June 2017, GE Electric Co. introduced Kelman DGA 900, a next-generation on-line multi-gas and moisture analyzer for transformers.
In the report on the global dissolved gas analyzer market, we have discussed individual strategies, followed by company profiles of providers of DGAs. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global dissolved gas analyzer market.
Dissolved Gas Analyzer Market: Scope of the Report
A new study on the global dissolved gas analyzer market was published by Transparency Market Research (TMR). It presents detailed information of key market dynamics, including the market drivers, market trends, and challenges, as well as the structure of the global dissolved gas analyzer market. TMR’s study offers valuable information on the global dissolved gas analyzer market in order to illustrate how the market is expected to expand during the forecast period, i.e. 2019 to 2027.
Key indicators of market growth, which include value chain analysis, supply chain analysis, and compound annual growth rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret the quantitative growth aspects of the global dissolved gas analyzer market for the duration of the forecast period.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global dissolved gas analyzer market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global dissolved gas analyzer market.
An extensive analysis of business strategies adopted by leading market players is also featured in TMR’s study on the global dissolved gas analyzer market. This can help readers understand the key factors responsible for the growth of the global dissolved gas analyzer market. In this study, readers can also find specific data on avenues for the qualitative and quantitative growth of the global dissolved gas analyzer market. This data would guide market players in making apt business decisions in the near future.
Key Questions Answered in TMR’s Dissolved Gas Analyzer Market Study
- What would be the Y-o-Y growth trend of the dissolved gas analyzer market between the years 2019 and 2027?
- What is the influence of the changing trends in technologies on the global dissolved gas analyzer market?
- Would Asia Pacific continue to remain the most profitable regional market for providers of dissolved gas analyzers?
- Which factors would hinder the global dissolved gas analyzer market during the forecast period?
- Which are the leading companies operating in the global dissolved gas analyzer market?
Dissolved Gas Analyzer Market: Research Methodology
A unique research methodology is utilized by TMR to conduct comprehensive research on the global dissolved gas analyzer market and arrive at conclusions on the future growth prospects of the market space. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the conclusions drawn.
Secondary research sources referred to by analysts during the production of the report on the global dissolved gas analyzer market include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, all of whom have contributed to the production of TMR’s study on the global dissolved gas analyzer market, as a primary research source.
Segmentation of the Global Dissolved Gas Analyzer Market
TMR’s study of the global dissolved gas analyzer market includes information divided into 4 sections - by product, by gas type, by technology, and by region. Changing market trends and other crucial market dynamics that are associated with these four sections of the global dissolved gas analyzer market have been discussed in detail.
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