Smart Transformers Market Leading Countries, Companies, Drivers, Significant Growth, Analysis by Manufacturers, Challenges and Forecast 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.

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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.

Scope of the Report

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

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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.

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This release was published on openPR.