Transformer Monitoring Market to Hit $4.98B by 2031, MarketsandMarkets Says
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Delray Beach, Fla. -- Aug. 31, 2026 -- The global transformer monitoring market will grow from $3.11 billion in 2026 to $4.98 billion by 2031, a 9.9% compound annual growth rate, according to MarketsandMarkets. The firm placed the 2025 market size at $2.84 billion. Utilities and industrial operators are driving the expansion by prioritizing transformer reliability and asset health as aging fleets and rising renewable integration strain existing grid infrastructure.