Global Transformer Monitoring Market Size Study & Forecast, by Service (Oil and Gas Monitoring, Bushing Monitoring, Others), by Type (Hardware, Software), by Application (Power Transformers, Distribution Transformers, Others) and Regional Forecasts 2025–2

The Global Transformer Monitoring Market is valued at approximately USD 3.25 billion in 2024 and is poised to register a compelling compound annual growth rate (CAGR) of 8.50% over the forecast period 2025 to 2035. As the power industry continues to modernize its grids, minimize energy loss, and prevent transformer failures, the need for real-time asset monitoring has taken center stage. Transformer monitoring systems have emerged as indispensable tools, offering predictive diagnostics, operational intelligence, and timely alerts to prevent costly downtimes. By leveraging Internet of Things (IoT) sensors, AI-driven analytics, and smart grid infrastructure, these systems are revolutionizing how utilities and industries manage transformer performance and health across transmission and distribution networks.

The consistent increase in energy consumption, coupled with growing dependence on renewable sources, has pushed the electrical grid to its limits. This shift has underscored the urgency for proactive maintenance tools and reliable monitoring systems to ensure transformers remain stable under variable loads. Key players in the market are focusing on innovations such as cloud-based analytics, edge monitoring platforms, and integrated software-hardware suites. Additionally, the aging infrastructure in developed economies and the expanding grid networks in emerging nations are propelling a dual wave of demand — for both retrofit solutions and new installations. Transformer monitoring technologies not only extend equipment life but also contribute to sustainable energy practices by reducing carbon footprint through efficient asset management.

Regionally, North America currently dominates the transformer monitoring market owing to widespread smart grid deployments, a high concentration of aging grid infrastructure, and rigorous regulatory frameworks around energy efficiency and grid reliability. The U.S. leads the regional growth trajectory with large-scale transformer retrofitting initiatives and utility digitalization projects. Meanwhile, Europe is experiencing robust growth driven by decarbonization goals and smart city programs, especially in Germany, the UK, and the Nordic countries. The Asia Pacific region, however, is projected to grow at the fastest pace during the forecast period, driven by rapid urbanization, aggressive electrification efforts, and soaring electricity demand across nations like China, India, and Southeast Asia. Government-backed rural electrification initiatives and large-scale renewable integrations are further amplifying the region’s transformer monitoring needs.

Major market player included in this report are:
• ABB Ltd.
• General Electric Company
• Schneider Electric
• Siemens AG
• Eaton Corporation
• Mitsubishi Electric Corporation
• Schweitzer Engineering Laboratories
• Honeywell International Inc.
• Qualitrol Company LLC
• Toshiba Corporation
• CG Power and Industrial Solutions Ltd.
• KONČAR Group
• Franklin Electric Co., Inc.
• Emerson Electric Co.
• Arteche Group

Global Transformer Monitoring Market Report Scope:
• Historical Data – 2023, 2024
• Base Year for Estimation – 2024
• Forecast period – 2025–2035
• Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segments of the market are explained below:

By Service:
• Oil and Gas Monitoring
• Bushing Monitoring
• Others

By Type:
• Hardware
• Software

By Application:
• Power Transformers
• Distribution Transformers
• Others

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America
• Brazil
• Mexico

Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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