Dissolved Gas Analyzer Market Size, Share & Trends Analysis Report By Extraction Type (Vacuum Extraction, Headspace Extraction, Striper Column Method), By Power Rating (100-500 MVA, 501-800 MVA, 801-1200 MVA), By Analysis Type and Segment Forecasts To 2024

Report Overview

The global dissolved gas analyzers (DGA) market is expected to reach USD 1.11 billion by 2024, expanding at a CAGR exceeding 12.0% over the forecast period. The growth is primarily attributed to the rising attentiveness concerning the likelihood of faults in the high-voltage transformers coupled with the high cost of substituting the depreciating transformers. Incorporating DGA aids companies in detecting faults in the installed power transformers at an initial stage. The early diagnosis empowers firms to organize maintenance programs to repair and avert faults and extend the endurance of power transformers. This is anticipated to fuel the product demand significantly over the next few years.

Asia Pacific Dissolved Gas Analyzer Market by extraction type, 2013 - 2024 (USD Million)

The snowballing adoption of online DGA is also one of the key factors contributing to industry growth. In the current scenario, aging transformers are loaded heavily, which is one of the primary reasons to diagnose the health of transformers at the initial stage. Other factors, such as increased service reliability requirements and deferred capital expenditures on novel equipment in order to explore the usage of innovative transformer condition assessment and management tools, are expected to poise the growth of the market in the next eight years.

Online DGA plays a vital role in increasing the reliability of grids as it displays ratios of the key gasses and real-time values, which are essential parameters for monitoring the transformer’s health during its operation. This results in reducing the transformer failure rate substantially, thereby decreasing the outages caused due to it. In addition, the efficiency and safety regulatory standards mandated by the government, including the U.S. government, for power transformers are expected to promote the DGA adoption over the forecast period.

Extraction Type Insights

The headspace extraction segment is anticipated to witness substantial growth, expanding at a CAGR exceeding 14% over the next eight years. The growth is supported by the benefits offered by this extraction technique, which include reduced risk of operator error from the excessive sample handling during injection and preparation as well as increased operational efficiency by automating the process. Furthermore, headspace extraction also offers benefits including rapid analysis and sensitivity along with minimal equipment investment.

The others segment mainly comprises multiple gas extractors and is estimated to exhibit a CAGR exceeding 14.0% over the forecast period. The revenue growth of this segment is mainly driven by its increased adoption due to the ability of multiple gas extractors to extract even small traces of fault gasses in the transformer oil at initial stages. Multiple gas extractors also offer high efficiency as the sample oil is exposed to vacuum several times until the process of extracting gas is accomplished.

Power Rating Insights

The 100-500 MVA segment accounted for over 70% of the overall revenue share in 2015. The market share is estimated to decrease over the coming years, owing to the low purchase and maintenance cost associated with these devices.

The 501-800 MVA segment is estimated to witness a CAGR of over 13.0% over the next eight years, due to the ability of these DGA devices to combine data from the additional transformer condition-based monitoring devices and offer legitimate identification of critical transformer fault types.

Analysis Type Insights

The laboratory services segment accounted for over 35% of the overall revenue share in 2015, which can be attributed to the snowballing R&D investments for developing innovative and efficient methods for aging diagnostics. Moreover, the rising awareness regarding transformer supervising and the elevating need for advanced process analytics to deal with complex gas formation procedures, particularly in the high-voltage power transformers, are also expected to contribute to the segment growth.

The comprehensive DGA monitoring segment accounted for more than 20% of the overall revenue share and is anticipated to grow at a CAGR of more than 12% over the next eight years.

Regional Insights

In 2015, the Asia Pacific Dissolved Gas Analyzer Market accounted for more than 30% of the overall revenue and is estimated to witness considerable growth over the forecast period. This can be ascribed to the rising adoption of online DGA analysis paired with the increasing application of dissolved gas analyzers in large power transformer bases in the region. Furthermore, the rise in government spending in industrial infrastructure projects as well as power transformers for expanding the power capacity in order to meet the shortage of electricity, especially in emerging economies including India, China, and Indonesia, are expected to favorably impact the product demand in the region.

The market in North America is estimated to show a considerable growth on account of the escalating need to detect faults among newly installed transformers paired with the growing demand for increasing the lifespan of old transformers.

Key Companies & Market Share Insights

The prominent industry participants include LumaSense Technologies, General Electric, Siemens, Weidmann, Morgan Schaffer Inc., Doble Engineering, and ABB Ltd. Manufacturers increasingly emphasize on entering into commodity contracts with the suppliers in order to balance the fluctuating raw material cost and avoid the risk of exposure on the forecast purchases of commodity raw materials in an attempt to maintain sustainability in the operating cost.

Prominent players in the industry invest heavily in R&D in order to build their intellectual property (patents) and develop products with high efficiency as well as low maintenance and operating costs in order to increase the revenue and market share.

Dissolved Gas Analyzer Market Report Scope