Partial Discharge Monitoring Systems Market Size, Share, Growth, and Industry Analysis, By Type (Permanent Monitoring System and Temporary Monitoring System), By Application (GIS, Transformers, Power Cables, and Others), and Regional Forecast to 2028

Updated On: 08 April 2024

REPORT OVERVIEW

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The global partial discharge monitoring systems market size was 493.3 million in 2022. As per our research, the market is expected to reach USD 664.8 million by 2028, exhibiting a CAGR of 5.1% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with partial discharge monitoring systems experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Partial Discharge (PD) monitoring systems are essential tools used in various industries to detect and monitor small electrical discharges within insulation of electrical equipment. These discharges, known as partial discharges, can lead to insulation degradation and eventual equipment failure if not detected early. These monitoring systems utilize sensors to capture electromagnetic signals produced by partial discharges, and advanced signal processing techniques distinguish these signals from normal electrical noise.

The collected data is analyzed in real-time or during downtime, triggering alarms and notifications when abnormal discharge activity surpasses predetermined thresholds. By providing insights into the severity and location of partial discharges, these systems enable informed maintenance decisions, optimize asset management, and enhance equipment reliability.

COVID-19 IMPACT : Remote Work and Monitoring to Boost Demand Significantly

COVID-19 had a life changing impact globally. The partial discharge monitoring systems market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for partial discharge monitoring systems experienced an increased demand.

Travel restrictions and safety concerns made it difficult for maintenance and technical personnel to perform routine inspections and repairs on-site. PD monitoring systems might not have received the necessary attention, potentially leading to missed opportunities for detecting early signs of equipment degradation.

Many industries adopted remote work practices to ensure the safety of their employees. This shift impacted the ability of maintenance and technical teams to access and maintain PD monitoring systems on-site. Remote monitoring solutions and increased reliance on digital communication became essential to manage and troubleshoot these systems from a distance. The market is anticipated to boost the partial discharge monitoring systems market share following the pandemic.

LATEST TRENDS

"Predictive Maintenance Platforms to Broaden Market Growth"

Integration with broader predictive maintenance platforms might offer a holistic view of equipment health, combining partial discharge data with other sensor data and maintenance records to provide a comprehensive predictive maintenance strategy. Integration of partial discharge monitoring systems with the Internet of Things (IoT) could have become more prevalent. This could enable real-time data streaming, remote monitoring, and the use of edge computing to process data at the source.

The development of wireless and battery-efficient sensors could reduce installation complexity and enable more flexible placement of sensors in challenging environments. Continued advancements in data analytics and machine learning could have led to more sophisticated algorithms for processing partial discharge data. This might include better pattern recognition, early fault detection, and improved accuracy in identifying the severity of partial discharges. These latest developments are anticipated to boost the partial discharge monitoring systems market growth.

SEGMENTATION

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• By Type

Based on type, the market is divided into permanent monitoring system and temporary monitoring system.

Permanent Monitoring System holds a major share of the global market.

• By Application

Based on application, the market is bifurcated into GIS, Transformers, Power Cables, and Others.

GIS as application holds a major share of the global market.

DRIVING FACTORS

"Equipment Reliability and Asset Management to Boost Market Share"

The primary goal of PD monitoring is to enhance the reliability of critical electrical equipment, such as transformers, cables, and switchgear. By detecting and addressing partial discharges early, organizations can prevent equipment failures, unplanned downtime, and costly repairs, ultimately improving asset management and extending the operational life of equipment. PD monitoring systems enable a shift from reactive to proactive maintenance strategies. By identifying signs of insulation degradation before it escalates into major faults, organizations can plan maintenance activities more effectively, reducing the frequency and severity of outages.

"Operational Safety to Boost Market Size"

Partial discharges can compromise the integrity of electrical insulation, leading to safety hazards, fires, and potential harm to personnel. PD monitoring systems contribute to a safer working environment by minimizing the risk of catastrophic equipment failures and their associated dangers. PD monitoring systems provide valuable insights into the condition of electrical equipment. By analyzing the characteristics of partial discharges, organizations can diagnose the root causes of insulation issues and take targeted corrective actions. These factors are anticipated to drive the partial discharge monitoring systems market share.

RESTRAINING FACTORS

"Compatibility and Integration to Hamper Market Share"

Integrating PD monitoring systems with existing equipment, control systems, and data management platforms can be challenging. Compatibility issues may arise when trying to retrofit monitoring systems into older infrastructure. Monitoring systems can generate a large volume of data, which, if not managed effectively, can overwhelm maintenance teams and lead to difficulties in identifying genuine concerns amidst the noise. The factors are anticipated to hinder the growth of the partial discharge monitoring systems market share.

REGIONAL INSIGHTS

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"North America Dominates the Partial Discharge Monitoring Systems Market "

North America is the major shareholder for the partial discharge monitoring systems market share. The region has a well-developed energy sector, including power generation, transmission, and distribution. The need for reliable electrical infrastructure, compliance with regulations, and a focus on safety have driven the adoption of advanced monitoring systems like PD monitoring. The emphasis on renewable energy sources, aging grid infrastructure, and environmental concerns has led to increased interest in monitoring and maintaining electrical equipment through PD monitoring.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Qualitrol [U.S.]
• Mitsubishi Electric [Japan]
• Eaton [Ireland]
• OMICRON [Austria]
• Siemens [Germany]
• Megger [U.K.]
• HVPD Ltd. [U.K.]
• LS Cable & System [South Korea]
• Prysmian Group [Italy]
• Doble Engineering Company [U.S.]
• Meggitt Sensing Systems [U.S.]
• EA Technology [U.K.]
• APM Technologies [China]
• IPEC Limited [Australia]
• Dynamic Ratings [U.S.]
• Altanova Group [Italy]
• Dimrus [Russia]
• PMDT [Slovenia]
• PowerPD Inc. [U.S.]
• Innovit Electric [China]
• Rugged Monitoring [Canada]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.