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.
Request Sample
Pages of the Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=15362928
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.
Download PDF
brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=15362928
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.
Related Reports:
Instrument
Transformers Market by Type (Current, Potential, and Combined Instrument
Transformers), Enclosure Type (Indoor and Outdoor), Dielectric Medium (Solid,
Liquid, and SF6 Gas), Voltage, Application, End-User, and Region - Global
Forecast to 2022
Transformer
Monitoring System Market by Type (Hardware Solutions and IT Solutions),
Application (Distribution Transformers, and Power Transformers), Service
(Oil/Gas Monitoring, and Bushing Monitoring), and Region - Global Forecast to
2021
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
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
