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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