Global Smart Transformers Market is segmented By Type(Power, Distribution, Instrument, Specialty Transformers), By Application(Smart Grid, Traction Locomotive, Electric Vehicle Charging, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.
The Global Smart Transformer Market is expected to grow at a high CAGR of 9.15% during the forecasting period (2022-2029).
- It continually regulates the voltage and maintains contact with the grid, allows remote administration, and provides information and feedback about the power supply. Smart transformers protect electrical equipment from power fluctuations; reduce energy consumption and greenhouse emissions, and improve the efficiency of electrical appliances. It is eco-friendly and enables users to save money by utilizing energy efficiently.
Drivers & Restraints
- The high demand for smart grid technology, the increasing focus on-load voltage regulation, and aging power infrastructure in North American & European regions, are some of the factors which are expected to propel the demand for Smart Transformers.
- Also, in developing regions like Asia-Pacific, the demand for smart transformers is high due to a high rate of industrialization and urbanization.
- The Global Smart Transformers Market report segments the market by type and application. Transformers type includes Power, Distribution, Instrument, and Specialty. Power Transformers are expected to dominate the market because of the increase in demand for electric supply.
- Power smart transformers are used in the transmission networks and integration of the distributed renewable power generators. Monitoring and controlling the power flow in real-time is achieved through intelligent transformers, benefiting the development of smart transmission & distribution networks.
- Based on Application, the market can be classified as Smart Grids, Traction Locomotive, Electric Vehicle Charging, and Others. Smart Grids is the largest segment in applications.
- The report segments the market based on geography as North America, South America, Asia-Pacific, Europe, and the Rest of the World. The smart transformers market is estimated to grow briskly in APAC region because of the rapid urbanization in the countries like China and India, which is resulting in the growing demand for electric power which in turn will drive the need for smart transformers in the nearby future.
- Currently, North America has a high demand for smart grids. North America, being a mature market already, the need for intelligent transformers are driven by the aging power transmission & distribution infrastructure.
- The report profiles the following companies:
- ABB, WEG, Hammond Power Solutions Inc., CG Global, Eaton, General Electric, Mitsubishi Electric Power Products Inc. (MEPPI), Schneider Electric, Siemens AG, SPX Transformer Solu-tions Inc.
Key market segments covered
• Smart Grid
• Traction Locomotive
• Electric Vehicle Charging
• Asia Pacific
• North America
• South America
• Rest of the World
Why purchase the report?
• Visualize the composition of the Smart Transformers market across each indication, regarding the type, product type, and applications, highlighting the critical commercial assets and players.
• Identify business opportunities in the Smart Transformers market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the Smart Transformers market-level 4/5 segmentation
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
• Product mapping in excel for the critical Smart Transformers market products of all major market players
Who can benefit from this report?
• Raw Material Suppliers/ Buyers
• Product Suppliers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
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