Transformer Monitoring Market Global Report 2026

The transformer monitoring market size has grown rapidly in recent years. It will grow from $3.14 billion in 2025 to $3.5 billion in 2026 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to aging power grid infrastructure, rising electricity demand, increasing transformer failures, growing investment in power transmission and distribution networks, increasing focus on preventive maintenance.

The transformer monitoring market size is expected to see rapid growth in the next few years. It will grow to $5.29 billion in 2030 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to expansion of smart grid infrastructure, growing deployment of renewable energy projects, increasing adoption of predictive maintenance, rising demand for grid reliability and resilience, and increasing investments in digital transformer monitoring solutions. Major trends in the forecast period include increasing adoption of online transformer monitoring, growing integration of predictive maintenance capabilities, advancement of real-time transformer condition assessment, rising demand for remote transformer diagnostics, and increasing focus on transformer asset life extension.

The rising electricity demand is expected to propel the growth of the transformer monitoring market in the coming years. Electricity refers to the flow of electric power generated, transmitted, and distributed to homes, industries, and businesses for use as energy. Electricity demand is increasing due to the growing use of electrical appliances, as more households and industries depend on devices such as air conditioners, refrigerators, computers, and other electronic equipment that require electricity. Rising electricity demand supports transformer monitoring by increasing the need for sensors, monitoring devices, and communication systems that continuously track transformer performance, identify faults, improve reliability, and ensure efficient operation of electrical networks. For instance, in July 2024, according to the International Energy Agency (IEA), a France-based intergovernmental organization, global electricity demand increased by about 4% in 2024, compared with 2.5% in 2023. Therefore, the rising electricity demand worldwide is driving the growth of the transformer monitoring market.

Major companies operating in the transformer monitoring market are focusing on developing advanced solutions such as distributed intelligence-enabled transformer monitoring systems to enhance grid efficiency, extend transformer lifespan, support predictive maintenance, and facilitate the integration of distributed energy resources. Distributed intelligence-enabled transformer monitoring systems are advanced grid management solutions that use real-time data analytics from connected devices and sensors to monitor transformer performance, including load levels and voltage conditions, allowing utilities to identify potential issues earlier than traditional manual inspection methods. For instance, in February 2024, Itron Inc., a US-based energy and water management technology company, launched Active Transformer Load and Voltage Monitoring (ATLM/ATVM) applications as part of its Grid Edge Intelligence portfolio to improve transformer visibility and grid operations. The solution analyzes data from service points to calculate transformer loading and voltage statistics in real time and provides insights to utilities through distributed intelligence-enabled endpoints. It includes location-awareness capabilities to identify connections between meters and transformers, configurable alarms to detect abnormal loading or voltage conditions, and API-accessible historical data for operational analysis.

In October 2023, Prolec GE, S.A.P.I. de C.V., a Mexico-based transformer solutions manufacturer, partnered with Ubicquia Inc. to develop the industry’s first fully integrated smart transformer. Through this partnership, Prolec GE, S.A.P.I. de C.V. and Ubicquia Inc. aim to strengthen smart grid infrastructure by integrating Ubicquia’s UbiGrid Distribution Transformer Monitoring (DTM+) platform into Prolec’s single-phase pad-mounted transformers, enabling real-time transformer health monitoring, advanced grid analytics, predictive maintenance, outage detection, and improved grid reliability. The collaboration enables utilities to deploy intelligent transformers directly from the factory, reducing retrofit requirements and supporting more resilient and efficient energy distribution networks. Ubicquia Inc. is a US-based technology company specializing in AI-driven transformer monitoring and power quality analytics platforms.

Major companies operating in the transformer monitoring market are GE Vernova Inc., Hitachi Energy Ltd., Siemens Energy AG, Schneider Electric SE, ABB Ltd., Eaton Corporation plc, Honeywell International Inc., Mitsubishi Electric Corporation, Emerson Electric Co., Schweitzer Engineering Laboratories Inc., Vaisala Oyj, Doble Engineering Company, Qualitrol Company LLC, Končar d.d., OMICRON electronics GmbH, Camlin Group Limited, Gasera Ltd, Dynamic Ratings Pty Ltd., Rugged Monitoring Inc, KJ Dynatech Inc, Advanced Power Technologies, MTE Meter Test Equipment AG, Kelvin International Corporation.

North America was the dominant region in the transformer monitoring market in 2025. Asia-Pacific is expected to be the rapidly growing region in the forecast period. The regions covered in the transformer monitoring market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the transformer monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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