Smart Transformers Market to Expand at a CAGR of 10.54%, Global Key Players, Trends, Share, Industry Size, Segmentation, and Forecast to 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.

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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 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"

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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.

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. 

Scope of the Report

By Component, the Smart Transformers Market has been segmented into the following:

·         Converters

·         Switches

·         Transformers

·         Hardware for Transformer Monitoring

·         Others

By Type, the Smart Transformers Market has been segmented into the following:

·         Power Transformers

·         Distribution Transformers

·         Specialty Transformers

·         Instrument Transformers

By Application, the Smart Transformers Market has been segmented into the following:

·         Traction Locomotive

·         Smart Grid

·         Electric Vehicle Charging

·         Other Applications

By Region, the Smart Transformers Market has been segmented into the following:

·         Asia Pacific

·         North America

·         Europe

·         Middle East

·         South America

·         Africa

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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.     

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Marine Engines Market Estimated To Mark A Highest CAGR Of 3.11% From 2019 To 2024 : MarketsandMarkets Inc.

The report "Marine Engines Market by Power (<1, 1-5, 5-10, 10-20 & >20) 000 hp, Vessel (Commercial, Offshore), Fuel (Heavy, Intermediate, Marine Diesel and Gas Oil), Engine (Propulsion & Auxiliary), Type (2 & 4-Stroke) & Region - Global Forecast to 2024", the global Marine Engines Market is projected to reach USD 16.4 billion by 2024 from an estimated USD 14.0 billion in 2019, at a CAGR of 3.11%. This growth can be attributed to the growth in international marine freight transport, growth in maritime tourism, and penetration of smart engines for situational awareness and safety.

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The commercial segment is expected to hold the largest share of the Marine Engines Market, by vessel, during the forecast period.

The commercial segment is estimated to dominate the Marine Engines Market in 2019 and is projected to have the largest market share during the forecast period. This is mainly because there is an increase in international seaborne trade leading to the increase in the commercial vessel count, thereby increasing the usage of marine engines in commercial vessels.

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79 - Tables

42 - Figures

150 - Pages

The propulsion segment is expected to be the fastest growing segment of the Marine Engines Market, by engine, during the forecast period.

The propulsion segment accounted for the highest CAGR during the forecast period. The growth of this segment can be attributed to the fact, that, they are the main supporting systems of a ship and are an integral part of the ship’s propulsion mechanism. They support the main power supply of the vessel. Countries such as China, South Korea, and Japan are witnessing growth in seaborne trade which has subsequently led to an increase in demand for ships that are used to transport manufactured goods to various regions worldwide. This is expected to increase the demand for Marine Engines Market in the forecast years in the propulsion segment.

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Asia Pacific: The leading market for marine engiens.

In this report, the Marine Engines Market has been analyzed with respect to 5 regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa. The growth of Asia Pacific is primarily driven by countries such as China, South Korea, and Japan, which, are considered as the main manufacturing hubs for marine engines. Over the past few years, this region has witnessed rapid economic development as well as the growth of the manufacturing and energy sectors, thereby resulting in an increase in the maritime trade. The rise in seaborne trade has subsequently led to an increase in demand for ships that are used to transport manufactured goods to various regions worldwide. Thus, the rise in the number of ships has contributed to the growing demand for propulsion systems and engines in the Asia Pacific region.

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To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the Marine Engines Market. Some of the key players are Hyundai Heavy Industries (South Korea), Caterpillar (US), MAN SE (Germany), Mitsubishi Heavy Industries (Japan) Volvo Group (Sweden), Rolls-Royce (UK), Wärtsilä (Finland), Cummins (US), GE Transportation (US), and DEUTZ AG (Germany). The leading players are adopting various strategies to increase their shares in the Marine Engines Market.

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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, "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.

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Field-Erected Cooling Tower Market : In-depth Research on Market Size,Top Manufacturers, Market Trends,Emerging Growth Factors and Regional Forecast to 2022

The global field-erected cooling tower market is expected to grow at a CAGR of 3.78%, from 2017 to 2022, to reach a market size of USD 2.15 billion by 2022. Stringent environmental regulations are expected to drive the demand for field-erected cooling towers, globally.

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The field-erected cooling tower market is dominated by a few major players that are established brand names with a wide regional presence. The leading players in the field-erected cooling tower industry include SPX (US), Hamon (Belgium), Enexio (Germany), Evapco (US), and BAC (US).

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63 - Tables

29 - Figures

130 - Pages

The Asia Pacific field-erected cooling tower market is expected to hold the major market share during the forecast period. Key countries in the region include China, India, and Japan. Rising population, urbanization, and industrialization along with growing concerns related to infrastructure development in China and India are some of the factors that would drive the market in this region. The breakthrough in the region is the restart of nuclear energy-based power generation facilities in Japan. This would boost the field-erected cooling tower market in the country during the forecast period.

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In terms of type, the field-erected cooling tower market has been categorized as wet, dry, and hybrid field-erected cooling towers. The wet field-erected cooling tower segment held the major market share in 2016. It is also expected to grow at a steady pace during the forecast period (2017–2022). The dry field-erected cooling tower market is expected to experience a high growth rate, due to strict environmental regulations imposed by respective regulatory bodies, globally.  The development of heat transfer media and fill component of the cooling tower are big growth opportunities for the market. Leading market players are currently focusing on innovation & new development in the fill component segment of cooling towers. Major technologies related to this are fill-fill technology, which is mostly used with good water and splash fill technology, which is used with sea water. Hamon & CIE International has come up with a new technology, clean flow plus fills, which can be used for both good as well as sea water. Advancement of fill media leads to an enhanced efficiency of the cooling tower; research & development in this area is expected to drive the field-erected cooling tower market during the forecast period.

In terms of design, induced draft occupies the majority of the market. An induced draft is more efficient than a forced draft cooling tower. As these type of cooling towers has low absorbing capacity and require less space, they are also the fastest growing during the forecast period.

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In terms of end-user industries, the power generation industry occupies the majority of the field-erected cooling tower market. The power generation industry possesses huge cooling demand, driven by its hot process water temperature control needs. Hence, large-sized field-erected cooling towers are in demand by this industry. The power generation end-user segment is also expected to register the highest growth rate as majority of the developing economies today are aiming to increase their nuclear-based energy generation capacity in their total energy portfolio.

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

newsletter@marketsandmarkets.com