#smart transformers

Market Research Future published a research report on “Smart Transformers Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2023.

Market Highlights

Smart transformers are transformers that incorporates a general transformer’s features with communication technology and monitoring software. Smart transformer operates autonomously to regulate voltage, maintain contact with smart grid to allow remote access, as well as it facilitates feedback in a power supply system. The remote access delivered by the smart transformers save time and resources of users. An instinctive monitoring function of smart transformers improves the reliability by keeping a guard on critical constituents, such as core, winding, and tap changer. Smart transformers safeguard electrical equipment from power variations, diminish energy consumption, and greenhouse emissions, and improve electrical appliance efficiency. It is eco-friendly and enables users to save money by utilizing energy efficiently.

The smart transformers market is projected to have enormous number of developments over the forecast period owing to incessant technological advancement in energy sector tied with rising power demand. The market is also likely to have a huge number of expansion activities by global and well-established firms. Mergers and acquisition activities are anticipated during the forecast period with several contracts and agreements among the top EPC and Government across the globe.

Global Smart Transformers Market is expected to expand at ~ 11.5% CAGR during the forecast period.

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Competitive Analysis

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.

Smart Transformers Global Market   - Segments

This study provides an overview of the global smart transformers market, tracking three market segments, across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Smart Transformers market by type, design, end-user and  region.

By Type

Power Transformers

Distribution Transformers

Specialty Transformers

Instrument Transformers

By Component

Converters

Switches

Hardware

Others

By Application

Traction Locomotive

Smart Grid

Electric Vehicle Charging

Others

By Regions

North America

Asia Pacific

Europe

Rest of the World

Smart Transformers Global Market   - Regional Analysis

Distribution transformer by type, converters by component and smart grids by application are expected expand the highest CAGR.

Global smart transformers market has been segmented based on type, component, application, and region. Based on type, the market is segmented into power transformers, distribution transformers, specialty transformers, and instrument transformers. Among these, distribution transformers are projected to dominate the smart transformers market through 2023. A distribution transformer is vital for proper load management, consequential in better power quality and less power failures & outages. On the basis of components, the market is segmented into converters, switches, hardware, and others. Converters segment dominated the market in 2016 and is projected to be the fastest-growing design segment. Converters can be of both, AC and DC types and offer the output in either form of current as per the necessity of the output stage. Based on application, the market is segmented into traction locomotive, smart grid, electric vehicle charging and others. Smart grid dominated the market in 2016 and has been projected to be the fastest-growing application over the next five years. The smart grid has reciprocal communication for instantaneous monitoring and controlling of network features. For this, the basic step is the execution of smart meters for end-user communications, followed by engaging smart transformers in the network to additionally strengthen communications and evade power outages. Smart grids prevent faults and power failures & outages. They are also fitted with self-realization characteristic, which allows the network to reinstate to normal state once the fault is cleared.

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Table of Content:

Chapter 1: Smart Transformers Market Overview

Chapter 2: Global Economic Impact on Industry

Chapter 3: Smart Transformers Market Competition by Manufacturers

Chapter 4: Global Production, Revenue (Value) by Region

Chapter 5: Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6: Global Production, Revenue (Value), Price Trend by Type

Chapter 7: Global Market Analysis by Application

Chapter 8: Manufacturing Cost Analysis

Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10: Marketing Strategy Analysis, Distributors/Traders

Chapter 11: Smart Transformers Market Effect Factors Analysis

Chapter 12: Global Smart Transformers Market Forecast

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The global market for Power Transformers is projected to exceed US$33 billion by 2025, driven by the ubiquity of high voltage electricity transmission as utilities strive to reduce transmission losses coupled with favorable macro factors such as growing electricity demand, rise of smart grids, and utility spending on upgrading T&D infrastructure.

Transformers are designed to deliver high power to volume and power to weight ratios to lower production and installation costs as well as high voltages to enhance transmission efficiencies. The growing demand for electricity due to increasing global population coupled with rapid urbanization and industrialization in emerging countries continue to keep the power generation industry under immense strain. Driven predominantly by the need to enhance the controllability as well as efficiency of power transmission infrastructure by minimizing transmission losses and effectively co-coordinating the supply of power in order to meet the demand at the right place at the right time, countries globally are upgrading their power transmission infrastructures to smart grid standard. The urgent need to replace and upgrade aging power infrastructure in the developed countries, growing prominence of renewable energy, expansion and interconnection of grid infrastructures, and exponential increase in power consumption in both developed and developing countries requiring efficient management of electricity transmission and distribution represent important factors driving growth in the global power transformers market.

Future growth in the market will be driven by growing prominence of smart cities that require highly capable power transmission networks and the resulting demand for advanced and innovative power transmission systems and solutions. While the main function of transformers will continue to be conversion of voltage to transfer power over large distances, sophisticated technology, innovative materials and superior engineering in modern transformers is capable of resisting earthquakes, vandalism, and geomagnetic phenomena, so as to minimize losses and enable reliable operations. Today’s “plug & play” mobile transformers design reflects the robust characteristics of the transformer and its superior operations in terms of flexible voltage connections; ease of transport and installation; and quick replacement after unplanned or planned power outages. Growing utility interest in digital technologies including IoT-enabled automated monitoring and smart grids, which enable monitoring of transformer parameters such as tank temperature, voltage applied, etc., is also poised to benefit market adoption in the coming years.

Another important growth driver is the steady proliferation of smart transformers driven by the establishment of smart power grids intended to respond to power requirements from load centers. In addition to significant benefits over traditional transformers, including high efficiency, reduced maintenance costs, bidirectional flow of power, high flexibility and higher power quality and efficiency, smart transformers enable diagnostic capabilities that help reduce maintenance costs and failures and improve dynamic transformer overload performance and reliability.

As stated by the new market research report on Power Transformers, Asia-Pacific represents the largest as well as the fastest growing market worldwide with a CAGR of 7.6% over the analysis period. Rapid industrialization; massive utility/power infrastructure investments; expanding population and energy needs; government focus on rural and urban power grid construction; implementation of energy-efficiency standards, and growing demand for Chinese transformers in overseas markets, represent important growth drivers in the region.

Key players in the market include ABB Limited, ASTOR TRANSFORMER A.S, Bemag Transformer, Inc., Bharat Heavy Electricals Limited, Bowers Electricals Ltd., CG Power and Industrial Solutions Limited, Changzhou XD Transformer Co., Ltd., DAIHEN Corporation, Diamond Power Infrastructure Limited, EFACEC Group, GE Grid Solutions, Hammond Power Solutions, Inc., Howard Industries, Inc., Hyosung Heavy Industries, Hyundai Electric & Energy Systems Co., Ltd., Imefy Group, JSHP Transformer, Kirloskar Electric Company Limited, KONČAR Group, Mitsubishi Electric Corporation, Olsun Electrics Corporation, Schneider Electric SA, SGB-SMIT Group, SGB-SMIT Power Matla, Shihlin Electric & Engineering Corporation, Siemens AG, SPX Transformer Solutions, Inc., TBEA Co., Ltd., Toshiba Energy Systems & Solutions Corporation, Wilson Power Solutions, Wilson Transformer Company, and Winder Power Ltd., among others.

The research report titled “Power Transformers - Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc. provides a comprehensive review of the power transformers market, key market trends, current issues and concerns, growth drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for the global and major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World. Key product categories analyzed for the global and major regional markets include 100 MVA - 500 MVA, 501 MVA - 800 MVA, and 801 MVA - 1200 MVA.

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