Smart Transformers Market Revenue to reach $2.43 Billion with Highest CAGR of 10.54% by 2022

The smart transformers market is expected to grow at a CAGR of 10.54%, from 2017 to 2022, to reach a market size of USD 2.43 billion by 2022. The major drivers of the smart transformers market include aging infrastructure, increasing emphasis on alternative energy production across the globe, improving and evolving technologies, digitalization of power utilities, and huge investments in smart grids and energy systems.

Browse 66 Market Data Tables and 35 Figures spread through 141 Pages and in-depth TOC on "Smart Transformers Market by Component (Converters, Switches, Transformers, Hardware for Transformer Monitoring), Type (Power, Distribution, Specialty, and Instrument), Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region - Global Forecast to 2022"

The smart transformers market is dominated by a few major players that have a wide regional presence and are established brand names. The leading integrated solution providers in the smart transformers market include ABB, GE, Siemens, Schneider Electric, and Eaton.

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The market in Asia Pacific is estimated to be the fastest growing market for smart transformers from 2017 to 2022. Factors, such as, rapid industrialization, infrastructural developments, aging power plants, increase in adoption of electric vehicles, and growing demand for electricity are driving the smart transformers market in the region. Furthermore, government initiatives to increase power generation capacity using renewable energy sources is expected to drive the demand for the smart transformers market.

The market in the US is expected to be the fastest growing market in North America for smart transformers, during the forecast period. Due to the aging infrastructure, climate risks, growing demand for electricity, and increasing adoption of electric vehicles in the country, the US government is taking significant steps to modernize the transformers sector, thereby, driving the smart transformers market.

The report segments the smart transformers market, by application, into traction locomotive, smart grid, electric vehicle charging, and others (others includes applications in shipping and aviation and packaged substations, data centers, and alternative power generation).  The smart grid segment is expected to grow at the highest CAGR during the forecast period.

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The smart transformers market, by component, is segmented into converters, switches, transformers, hardware for transformer monitoring, and others (others include high voltage inductors, high voltage capacitors, and high voltage resistors). The converters segment is expected to grow at the highest CAGR during the forecast period. 

The smart transformers market, by type, is segmented into power transformers, distribution transformers, specialty transformers, and instrument transformers. The distribution transformers segment is expected to grow at the highest CAGR during the forecast period. 

Companies, such as ABB, GE, Siemens, and Schneider could benefit from investing in emerging economies as there is an increase in expenditure on industrial activities in these markets. Along with this, the power infrastructure in developing countries are either old or have not been modernized, which is likely to provide opportunities for the smart transformer companies.  

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Global Smart Transformers Market - Latest Industry Trends, Growth Drivers, Volume Analysis and Demand Forecast 2022

The report "Smart Transformers Market by Component (Converters, Switches, Transformers, Hardware for Transformer Monitoring), Type (Power, Distribution, Specialty, and Instrument), Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region - Global Forecast to 2022", is expected to grow from an estimated USD 1.47 Billion in 2017 to USD 2.43 Billion by 2022, registering a CAGR of 10.54%, from 2017 to 2022. The global market is set to witness a significant growth due to increasing emphasis on alternative energy production across the globe, digitalization of power utilities, and huge investments in smart grids and energy systems.

                        

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The smart grid segment is expected to hold the largest share of the smart transformers market, by application, during the forecast period

The smart grid segment led the smart transformers market in 2016, and is projected to dominate the market during the forecast period. One of the biggest uses of a smart transformer in smart grids is its role in integrating power from distributed generation into the main grid. Smart grids have two-way communication for real-time monitoring and controlling of network characteristics. For this, the basic step is the implementation of smart meters for end-user interactions, followed by employing smart transformers in the network to further strengthen communications and avoid power outages. Although smart grids prevent faults and power outages, they are also equipped with self-realization characteristic that allows the network to restore to normal, once the fault is cleared. This is driving the market for smart transformers in the smart grid segment, which is expected to create new revenue pockets for the smart transformers market during the forecast period.

Browse and in-depth TOC on “Smart Transformers Market”

66 – Tables

35 – Figures

141 – Pages

Target Audience:

·         Banks, venture capitalists, financial institutions, and other investors

·         Companies related to electric power generation, transmission, and distribution

·         Energy associations

·         Environment associations

·         Government and industry associations

·         Government and research organizations

·         Smart grid project developers

·         Smart transformer component manufacturers, dealers, and suppliers

·         State and national regulatory authorities

·         Substation equipment manufacturing companies

Distribution transformers to be the fastest growing segment in the smart transformers market

With regard to the type segment, distribution transformers are expected to constitute the fastest growing market from 2017 to 2022. Smart distribution networks require smart transformers to communicate with consumers and also for continuous load monitoring. Distribution transformers are less efficient than power transformers as they are subject to load fluctuations and the chances of failure are higher. Power distribution sometimes results in increased load above the peak limit of the equipment. Hence, the implementation of a distribution network is essential for proper load management, resulting in better power quality and less power outages.

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Asia Pacific: The leading market for smart transformers

In this report, the smart transformers market has been analyzed with respect to six regions, namely, North America, Europe, Asia Pacific, South America, the Middle East, and Africa. Asia Pacific is expected to account for the largest market share in the global smart transformers market by 2022. Countries, such as China, Japan, and India are investing in grid expansion projects to increase the distribution grid reliability. China accounted for the largest share of the smart transformers market in Asia Pacific in 2016 and has the highest installed generation and distribution capacity, resulting in an increased demand for transformers. The country, which is an export-oriented economy, has witnessed an exponential growth in the demand for electricity in the past couple of decades, fueled by industrialization and infrastructural developments. Meanwhile, the Indian government is also taking initiatives to increase the power generation capacity using renewable energy sources. For instance, the country is the third-largest electricity producer in the world and is likely to generate approximately 30 GW of power from renewable energy sources in 2017. This would require grid connected as well as local distribution networks. These factors are expected to drive the growth of the smart transformers market in Asia Pacific.

Research Methodology

This research study involved the use of extensive secondary sources, directories, journals on energy storage, and other related rental markets; newsletters and databases, such as Hoover’s, Bloomberg, Businessweek, and Factiva, to identify and collect information useful for a technical, market-oriented, and commercial study of the global market. The primary sources include several industry experts from core and related industries, vendors, preferred suppliers, technology developers, alliances, and organizations related to all the segments of this industry’s value chain. The research methodology has been explained below.

Study of annual revenues and market developments of the major players providing smart transformers

·         Assessment of future trends and growth of end-users

·         Assessment of the market with respect to the technology used for different applications

After arriving at the overall market size, the total market was split into several segments and sub-segments. The figure given below illustrates the breakdown of primary interviews conducted during the research study based on company type, designation, and region.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Smart Transformers Market is projected to reach USD 2.43 billion, by 2022 at a CAGR of 10.54%, from 2017 to 2022.

According to the new market research report "Smart Transformers Market by Component (Converters, Switches, Transformers, Hardware for Transformer Monitoring), Type (Power, Distribution, Specialty, and Instrument), Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the smart transformers market is expected to grow at a CAGR of 10.54%, from 2017 to 2022, to reach a market size of USD 2.43 billion by 2022. The major drivers of the smart transformers market include aging infrastructure, increasing emphasis on alternative energy production across the globe, improving and evolving technologies, digitalization of power utilities, and huge investments in smart grids and energy systems.

Don’t miss out on business opportunities in Smart Transformers Market. Download PDF Brochure and gain crucial industry insights that will help your business grow:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=15362928

The smart transformers market is dominated by a few major players that have a wide regional presence and are established brand names. The leading integrated solution providers in the smart transformers market include ABB, GE, Siemens, Schneider Electric, and Eaton.

Browse and in-depth TOC on "Smart Transformers Market"

66 - Tables

35 - Figures

141 - Pages

View more detailed TOC @

https://www.marketsandmarkets.com/Market-Reports/smart-transformers-market-15362928.html

The market in Asia Pacific is estimated to be the fastest growing market for smart transformers from 2017 to 2022. Factors, such as, rapid industrialization, infrastructural developments, aging power plants, increase in adoption of electric vehicles, and growing demand for electricity are driving the smart transformers market in the region. Furthermore, government initiatives to increase power generation capacity using renewable energy sources is expected to drive the demand for the smart transformers market.

The market in the US is expected to be the fastest growing market in North America for smart transformers, during the forecast period. Due to the aging infrastructure, climate risks, growing demand for electricity, and increasing adoption of electric vehicles in the country, the US government is taking significant steps to modernize the transformers sector, thereby, driving the smart transformers market. 

The report segments the smart transformers market, by application, into traction locomotive, smart grid, electric vehicle charging, and others (others includes applications in shipping and aviation and packaged substations, data centers, and alternative power generation).  The smart grid segment is expected to grow at the highest CAGR during the forecast period.

The smart transformers market, by component, is segmented into converters, switches, transformers, hardware for transformer monitoring, and others (others include high voltage inductors, high voltage capacitors, and high voltage resistors). The converters segment is expected to grow at the highest CAGR during the forecast period. 

The smart transformers market, by type, is segmented into power transformers, distribution transformers, specialty transformers, and instrument transformers. The distribution transformers segment is expected to grow at the highest CAGR during the forecast period. 

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Companies, such as ABB, GE, Siemens, and Schneider could benefit from investing in emerging economies as there is an increase in expenditure on industrial activities in these markets. Along with this, the power infrastructure in developing countries are either old or have not been modernized, which is likely to provide opportunities for the smart transformer companies.     

Browse Adjacent Markets @ Energy and Power Market Research Reports & Consulting

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.
630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

Email: sales@marketsandmarkets.com