Press release
Smart Transformer Market Booming At CAGR Of 15.25% Between 2017-2021
Smart transformers, also known as solid-state transformers, control the electric distribution grid. They provide optimized voltage by maintaining the contact with the smart grid to provide feedback about the transformer and power supply through remote administration. Large commercial facilities are increasingly using these transformers, as they cater to the energy needs of the facility efficiently and economically.
In addition, smart transformers act as voltage regulators by instantly responding to the fluctuations. This helps in reducing the consumption of energy without disturbing the optimized voltage and provides optimal power supply to the electrical equipment. Thus, these transformers are increasingly preferred in Point of Common Coupling (PCC) in grids, which helps in protecting the electrical equipment during power fluctuations. Many vendors such as Miracle Electronics offer smart transformers.
Technavios analysts forecast the global smart transformer market to grow at a CAGR of 15.25% during the period 2017-2021.
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Covered in this report
The report covers the present scenario and the growth prospects of the global smart transformer market for 2017-2021. To calculate the market size, the report considers the new installations/shipments/sales/volume/value and exclude retrofit/replacement/spares/aftermarket/services market.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Smart Transformer Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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Key vendors
ABB
GE
Siemens
Other prominent vendors
BHEL
CG
Eaton
GRIDBRIDGE
GRIDCO SYSTEMS
Howard Industries
Miracle Electronics Devices
Mitsubishi Electric
Schneider Electric
SPX TRANSFORMER SOLUTIONS
Varentec
Market driver
Renewable power generation capacity expansion
For a full, detailed list, view our report
Market challenge
High investment needed from a financially weak distribution sector for upgrading networks
For a full, detailed list, view our report
Market trend
Evolution of smart grids
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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