Smart Transformers Market Research by Business Analysis, Growth Strategy and Industry Development to 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.

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.

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.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the smart transformers market. These players include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Eaton (Ireland), and General Electric (US). The leading players are trying to make inroads in the markets in developed economies and are adopting various strategies to increase their market shares.

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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.

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Smart Transformers Market: Worldwide Market Forecast, 2017-2022 with ABB, Siemens, Schneider Electric, Eaton, and General Electric Leading the Competition

The global smart transformers market is projected to grow at a CAGR of 10.54%, from 2017 to 2022. The market in Asia Pacific is estimated to be the largest market for smart transformers, followed by the North American market in 2017. This trend is expected to continue till 2022. The growth of the smart transformers market is driven by 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.

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 major strategies adopted by the players include contracts & agreements, new product launches, expansions and investments, mergers & acquisitions, and joint ventures and collaborations. Contracts & agreements was the most commonly adopted strategy from January 2014 to July 2017. Industry players also adopted new product developments, which was the second most widely followed strategy, during the same period. A few key integrated solution providers have been highlighted in the section below.

ABB is a power and automation technology company that offers a wide range of products, services, and systems. The company has a strong regional footprint with its presence in more than 100 countries. With an installed base of more than 70,000 control systems connecting 70 million devices, ABB is one of the fastest growing companies in the digitally connected and enabled industrial equipment. It adopts inorganic growth strategies as its key business strategy to expand its business in untapped markets. The

ABB power grid business segment provides smart transformers that caters to various end-use industries, such as utilities, industry, and transport and infrastructure globally.  In March 2017, ABB launched its first digital transformer, TXper. The transformer will provide the integrated sensing and monitoring technology in intelligence to maximize reliability, optimize operating and maintenance costs, and manage the asset more efficiently. This latest innovation uses cloud computing and connected devices to generate actionable data for a broad range of customers.

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GE is one of the leading technology and financial services company that manufactures products for generation, transmission and distribution, control, and utilization of electricity. It is a transforming industry with software-defined machines and solutions. Since its inception, the company has adopted inorganic growth strategies to broaden its business and improve the scope of activities.  It has its presence in approximately 180 countries, with 206 manufacturing plants located in 40 states in the US and Puerto Rico, and 295 manufacturing plants located in 39 other countries. The company provides smart transformers through its power business segment serving several end-use industries, such as, power generation, industrial, government, and other customers worldwide. In October 2014, GE received a contract from Georgia Power (US) to deliver a complete transformer monitoring solution for its electrical grid infrastructure.

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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.

                        

Don’t miss out on business opportunities in Smart Transformers Market. Speak to our analyst and gain crucial industry insights that will help your business grow: @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=15362928 

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.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=15362928

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