Business Description
Smart Transformers (ST) Market is expected to reach USD 4.05 Billion by 2026 from USD 1.45 Billion in 2016 at a CAGR of 10.82% (Detailed analysis of the market CAGR is provided in the report). Smart transformer (ST) provides the exact amount of power that is required and responds instantly to fluctuations within the power grid to protect electrical equipment with its ideal voltage.
Smart Transformers Market
The smart transformers market based on a component has been segmented into converters, switches, transformers, hardware for transformer monitoring and others. The converters segment is expected to be one of the major contributors to the smart transformers market. Based on the type the market has been segmented into power transformers, distribution transformers, specialty transformers, and instrument transformers. Distribution transformers segment is expected to hold one of the largest market shares for the market. It is crucial for proper load management and providing better power quality and fewer power outages.
Geographically, Asia Pacific (APAC) is expected to be one of the largest markets for the smart transformers. Increased power consumption, increasing power generation capacity by using renewable energy sources and upgradation of power plants are some of the factors driving the market growth.
Key Highlights:
• Smart Transformers market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Smart Transformers market.
• Smart Transformers market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Smart Transformers market strategic analysis with respect to individual growth trends, future prospects along with a contribution of various sub-market stakeholders have been considered under the scope of the study.
• Smart Transformers market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Smart Transformers market are also profiled.
Research Methodology
Bloomberg, Factiva, and Hoovers are some of the sites that are being referred to gain insights about Smart Transformers market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the Smart Transformers market globally.
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Some of the prominent players operating in the smart transformers market include:
• ABB (Switzerland)
• Schneider Electric (France)
• Siemens (Germany)
• Eaton (Ireland)
• General Electric (US)
• BHEL (India)
Key Target Audience:
• Companies related to electric power generation, transmission and distribution
• Smart transformer component manufacturers, dealers and suppliers
• State and national regulatory authorities
• Energy associations & Environment associations
• Government and research organizations
• Government and industry associations
• Smart grid project developers
Years considered to estimate the market size of the Smart Transformers market have been mentioned below:
• Base year-2016
• Estimated year-2017
• Forecast year- 2017 to 2026
Scope of the Report:
The Research report segments the smart transformers market based on component, type, application and geography
Smart Transformers Market, By Component:
• Converters
• Switches
• Transformers
• Hardware for Transformer Monitoring
• Others
Smart Transformers Market, By Type:
• Power Transformers
• Distribution Transformers
• Specialty Transformers
• Instrument Transformers
Smart Transformers Market, By Application:
• Traction Locomotive
• Smart Grid
• Electric Vehicle Charging
• Other Applications
Smart Transformers Market, By Geography:
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
Geographic Analysis
• Breakdown of North America Smart Transformers Market
• Breakdown of Europe Smart Transformers Market
• Breakdown of Asia Pacific Smart Transformers Market
• Breakdown of Middle East & Africa Smart Transformers Market
• Breakdown of Latin America Smart Transformers Market
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