We are monitoring the impact of COVID-19 on Smart Transformer Market Get in touch with us for detailed analysis Know More
Pulished Date April, 2021
ID: 10529
Share on
Share on

Smart Transformer Market Segmentation By Component (Converters, Switches, Transformers, Hardware For Transformer Monitoring), By Type (Power, Distribution, Specialty, and Instrument), By Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region - Industry Forecast of 2021 to 2026

Pulished: April, 2021
ID: 10529
Pages: 175

Smart Transformer Market Size, Share, Growth Analysis (2021-2026)

The global smart transformer market is predicted to grow from $ 1.35 billion in 2021 to $ 2.8 billion by 2026, at an annual expansion rate (CAGR) of 10.93% over the foreseen period.

 Aging transmission and distribution infrastructure, growing awareness of energy sources, and technological advancements are driving the expansion of the worldwide smart transformer market. However, access to economic capital and cybersecurity and data privacy are aspects that are hindering the expansion of the market. On the other hand, improvements in the electricity sector and the monitoring of microgenerators create opportunities in the industry. Smart transformers integrate the general functionality of a transformer with communication technology, monitoring software, and others. The smart transformer works autonomously to regulate voltage, maintain contact with the smart grid to allow remote access and facilitate feedback into a power supply system. The remote access provided by smart transformers saves users time and resources. An instinctive intelligent transformer monitoring function improves reliability by keeping a watch on critical components such as the core, winding, tap changer and others. Smart transformers protect electrical equipment against power variations, reduce energy consumption and greenhouse gas emissions, and improve the efficiency of electrical devices. They are environmentally friendly and allow users to save money by using energy efficiently.

Smart Transformer Market Trends:

The smart transformer market is still nascent, but it has enormous expansion potential. Currently, the market is mainly driven by the rise of aging power distribution networks around the world. As part of development initiatives, governments in developing countries are making huge investments to expand the scope of electrification in different towns and cities. Smart transformers are employed in such projects, and therefore their implementation leads to market expansion. The smart transformer works independently to regulate voltage, maintain contact with the smart grid to allow remote access, and provide feedback on a power supply system. The remote access provided by smart transformers saves users time and resources. A built-in intelligent transformer monitoring function improves reliability by monitoring critical components.

Recent Developments in the Smart Transformer Market Industry:

The Nepal Electricity Authority has made a decision to introduce a smart system to monitor its substations and transformers across the nation online. The Authority's energy skills department is installing the system in substations and large transformers throughout the country.(PowerTransformernews)

Smart Transformer Market Drivers

The worldwide smart transformer market is predicted to experience extraordinary expansion during the outlook period. The tremendous expansion of the electricity sector coupled with escalating population and rising call for energy has boosted the smart transformer market in various areas. The expansion is mainly attributed to the improvement of aging utility infrastructure, escalated investment in the industrial sector and related government regulations have improved the smart transformer market in several countries, which is predicted to continue in the future. The call for safer and more efficient power transmission, associated with environmental concerns about electricity production, has led to the development of numerous international and national regulations, such as the eco-design regulations of the European Commission, among others. These regulations are also boosting the global smart transformer market. The market is also positively influenced by the huge increase in the development of utility (transformer) and industrial infrastructure in emerging markets such as China and India, among others.

Restraints in the Smart Transformer Market:

Access to affordable capital, cybersecurity, and data privacy are factors that hamper market expansion.

Opportunities in the Smart Transformer Market:

The global smart transformer market is predicted to see a lot of developments during the foreseen period due to the incessant technological advances in the power sector related to the escalating call for power. The market is also likely to have a lot of expansion activity from well-established worldwide companies. Mergers and acquisitions activity is predicted to be observed over the foreseen period with various contracts and agreements between major contractors and governments around the world. The growing popularity of the electric vehicle market and growing call for allied infrastructure will create lucrative expansion opportunities for this market during the foreseen period.

Smart Transformer Market Challenges:

High initial investments can hamper market expansion during the foreseen period. Factors such as the high initial cost of installing electrical transformers and the lack of data for successful planning can limit the business expansion

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020 – 2025

Base Year

2020

Forecast Period

2021 - 2026

CAGR

10.93%

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

 

Market Leaders Profiled

ABB Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), Eaton Corporation plc (Ireland), General Electric Company (U.S.), and Mitsubishi Electric Corporation (Japan). Bharat Heavy Electricals Limited (India), Crompton Greaves Ltd. (India), Howard Industries. (U.S.), SPX Transformer Solutions, Inc. (U.S.), Alstom (France), and Ormazabal (Spain) 

Smart Transformer Market

Smart Transformer Market Segmentation:

By Component:

  • Converters
  • Switches
  • Transformers
  • Hardware for Transformer Monitoring

By Type:

  • Power
  • Distribution
  • Specialty
  • Instrument

Based on the type, distribution transformers are predicted to be the fastest growing from 2021 to 2026. Distribution transformers are efficient than power transformers because they are subject to load fluctuations and the risk of failure is greater.

By Application:

  • Smart Grid
  • Traction Locomotive
  • Electric Vehicle Charging

Regarding the applications, the smart grid segment is predicted to be the largest market by 2026. One of the main uses of a smart transformer in smart grids is its role in integrating energy from the production distributed in the main network.

Smart Transformer Regional Analysis:

  • North America Smart Transformer Industry includes U.S, Canada.
  • Europe Smart Transformer Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.
  • Asia Pacific Smart Transformer Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.
  • Latin America Smart Transformer Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.
  • Middle East & Africa Smart Transformer Industry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

The Asia-Pacific region is moving towards clean energy on a large scale to efficiently meet its growing energy needs. India, China and Singapore are among the potential expansion markets in the electricity and utilities sector. In addition, Asia-Pacific offered the highest potential returns for foreign direct investment and attracted 45% of all capital investment, worldwide, in 2019. Investment is predicted to increase in modernization of infrastructure and urbanization of populations especially in developing economies like China and India is likely to boost the smart transformer market in Asia-Pacific. The Chinese market was by far the largest in the world in terms of infrastructure development in 2019. Escalated investment in smart grid and smart city technologies including automation of distribution networks, smart meters and response systems to call in countries such as Japan, South Korea and Australia would create opportunities for the smart transformer market.

Smart Transformer Market Key Players:

The key players of global smart transformers market are ABB Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), Eaton Corporation plc (Ireland), General Electric Company (U.S.), and Mitsubishi Electric Corporation (Japan). Bharat Heavy Electricals Limited (India), Crompton Greaves Ltd. (India), Howard Industries. (U.S.), SPX Transformer Solutions, Inc. (U.S.), Alstom (France), and Ormazabal (Spain) are among others.

 

1. Introduction                             

              1.1 Market Definition                  

              1.2 Scope of the report               

              1.3 Study Assumptions               

              1.4 Base Currency, Base Year and Forecast Periods                       

2. Research Methodology                                       

              2.1 Analysis Design                      

              2.2 Research Phases                    

                             2.2.1 Secondary Research          

                             2.2.2 Primary Research 

                             2.2.3 Data Modelling    

                             2.2.4 Expert Validation 

              2.3 Study Timeline                       

3. Report Overview                                    

              3.1 Executive Summary              

              3.2 Key Inferencees                     

4. Market Dynamics                                   

              4.1 Impact Analysis                      

                             4.1.1 Drivers     

                             4.1.2 Restaints 

                             4.1.3 Opportunities       

              4.2 Regulatory Environment                    

              4.3 Technology Timeline & Recent Trends                         

5. Competitor Benchmarking Analysis                                

              5.1 Key Player Benchmarking                   

                             5.1.1 Market share analysis       

                             5.1.2 Products/Service  

                             5.1.3 Regional Presence

              5.2 Mergers & Acquistion Landscape                   

              5.3 Joint Ventures & Collaborations                     

6. Market Segmentation                                          

              6.1 Smart Transformer Market, By Type                            

                             6.1.1 Power      

                             6.1.2 Distribution           

                             6.1.3 Specialty  

                             6.1.4 Instrument            

                             6.1.5 Market Size Estimations & Forecasts (2019-2024) 

                             6.1.6 Y-o-Y Growth Rate Analysis            

                             6.1.7 Market Attractiveness Index          

              6.2 Smart Transformer Market, By Application                

                             6.2.1 Smart Grid             

                             6.2.2 Traction Locomotive          

                             6.2.3 Electric Vehicle Charging  

                             6.2.4 Market Size Estimations & Forecasts (2019-2024) 

                             6.2.5 Y-o-Y Growth Rate Analysis            

                             6.2.6 Market Attractiveness Index          

              6.3 Smart Transformer Market, By Component               

                             6.3.1 Converters            

                             6.3.2 Switches  

                             6.3.3 Transformers       

                             6.3.4 Hardware for Transformer Monitoring     

                             6.3.5 Market Size Estimations & Forecasts (2019-2024) 

                             6.3.6 Y-o-Y Growth Rate Analysis            

                             6.3.7 Market Attractiveness Index          

7. Geographical Landscape                                     

              7.1 Global Identity Governance and Administration Market, by Region                            

              7.2 North America - Market Analysis (2018 - 2024)                        

                             7.2.1 By Country            

                                           7.2.1.1 USA

                                           7.2.1.2 Canada

                             7.2.2 By Type    

                             7.2.3 By Application      

                             7.2.4 By Component     

              7.3 Europe                      

                             7.3.1 By Country            

                                           7.3.1.1 UK

                                           7.3.1.2 France

                                           7.3.1.3 Germany

                                           7.3.1.4 Spain

                                           7.3.1.5 Italy

                                           7.3.1.6 Rest of Europe

                             7.3.2 By Type    

                             7.3.3 By Application      

                             7.3.4 By Component     

              7.4 Asia Pacific                

                             7.4.1 By Country            

                                           7.4.1.1 China

                                           7.4.1.2 India

                                           7.4.1.3 Japan

                                           7.4.1.4 South Korea

                                           7.4.1.5 South East Asia

                                           7.4.1.6 Australia & NZ

                                           7.4.1.7 Rest of Asia-Pacific

                             7.4.2 By Type    

                             7.4.3 By Application      

                             7.4.4 By Component     

              7.5 Latin America                         

                             7.5.1 By Country            

                                           7.5.1.1 Brazil

                                           7.5.1.2 Argentina

                                           7.5.1.3 Mexico

                                           7.5.1.4 Rest of Latin America

                             7.5.2 By Type    

                             7.5.3 By Application      

                             7.5.4 By Component     

              7.6 Middle East and Africa                       

                             7.6.1 By Country            

                                           7.6.1.1 Middle East

                                           7.6.1.2 Africa

                             7.6.2 By Type    

                             7.6.3 By Application      

                             7.6.4 By Component     

8. Key Player Analysis                                

              8.1 ABB Ltd.                    

                             8.1.1 Business Description         

                             8.1.2 Products/Service  

                             8.1.3 Financials

                             8.1.4 SWOT Analysis     

                             8.1.5 Recent Developments       

                             8.1.6 Analyst Overview 

              8.2 Siemens AG                            

              8.3 Schneider Electric SE                           

              8.4 Eaton Corporation                

              8.5 General Electric Company                  

              8.6 Mitsubishi Electric Corporation                       

              8.7 Bharat Heavy Electricals Limited                     

              8.8 Crompton Greaves Ltd                       

              8.9 Howard Industries                

              8.10 Alstom                     

9. Market Outlook & Investment Opportunities                             

Appendix                                       

              List of Tables                   

              List of Figures                 

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  • Global Smart Transformer Market By Region, From 2021-2026 ( USD Billion )

  • Global Smart Transformer Market By Type, From 2021-2026 ( USD Billion )

  • Global Power Market By Region, From 2021-2026 ( USD Billion )

  • Global Distribution Market By Region, From 2021-2026 ( USD Billion )

  • Global Specialty Market By Region, From 2021-2026 ( USD Billion )

  • Global Instrument Market By Region, From 2021-2026 ( USD Billion )

  • Global Smart Transformer Market By Application, From 2021-2026 ( USD Billion )

  • Global Smart Grid Market By Region, From 2021-2026 ( USD Billion )

  • Global Traction Locomotive Market By Region, From 2021-2026 ( USD Billion )

  • Global Electric Vehicle Charging Market By Region, From 2021-2026 ( USD Billion )

  • Global Smart Transformer Market By Component, From 2021-2026 ( USD Billion )

  • Global Converters Market By Region, From 2021-2026 ( USD Billion )

  • Global Switches Market By Region, From 2021-2026 ( USD Billion )

  • Global Transformers Market By Region, From 2021-2026 ( USD Billion )

  • Global Hardware for Transformer Monitoring Market By Region, From 2021-2026 ( USD Billion )

 

Please wait. . . . Your request is being processed

LICENCE TYPE

$ 1234 4255

Clients
clients
clients
clients
clients
clients
clients
Click for Request Sample