Press release
Smart Transformer 2021 Global Market Key Players - ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric Corporation (Japan), Eaton (Ireland), Alstom (France) - Analysis And Forecast To 2028
Smart Transformer Market 2021-2028
New study report " Smart Transformer Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.
Market Overview-
The global smart transformer market size is projected to hit USD 5.39 billion by 2028 and exhibit a CAGR of 12.5% during the forecast period. The increasing trend of digitalization adoption in the power industry and rising investments to strengthen and develop smart grids are anticipated to be the key factors driving the market’s growth. Fortune Business InsightsTM has presented this information in its report titled “Smart Transformer Market, 2021-2028”. The market size stood at USD 2.07 billion in 2020.
The market’s growth is also ascribable to smart grids. Smart grids work more reliably and efficiently by voltage regulation at the end user, using smart transformers in the power grid. This improves the efficiency of the grid and is anticipated to complement the market growth.
Key Players:
The key players have an essential part to play in fostering the product improvement as per the demand of the consumers with ample supply in particular regions. The well-known brands are also acknowledged and aware of the potential links with the global Smart Transformer Market 2021-2028 for showing a prominent place to the key players in the market.
Top Key Players in this market are:
ABB (Switzerland)
Schneider Electric (France)
Siemens (Germany)
Mitsubishi Electric Corporation (Japan)
Eaton (Ireland)
Alstom (France)
GE Power (U.S.)
Powerstar (England)
CG Power and Industrial Solutions Limited (India)
Ormazabal (Spain)
SPX Transformer Solutions Inc. (U.S.)
Triad Magnetics (California)
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Competitive Landscape-
Key Players Ingenious Strategies to Capture Growth
The global market is fragmented and comprises several key players operating in the highly competitive market space. ABB is currently one of the world’s largest power service companies. The company continues to dominate the global market with its advanced services. Various other key players operating in the market adopt various growth strategies, including product development, joint ventures, mergers, acquisitions, and others, to amplify their market presence. For instance, Eaton Corporation acquired Tripp Lite for USD 1.65 billion in January 2021. Tripp Lite is a leading supplier of connectivity solutions and power quality products for America's medical, industrial, data center communication markets.
Segmentation-
On the basis of type, the market is fragmented into instrument transformers, specialty transformers, distribution transformers, and power transformers. On the basis of application, the market is segmented into electric vehicle infrastructure, traction locomotive, smart grid, and others. Geographically, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Regional Insights-
Rising Investments in Smart Grid Projects to Fuel Growth in Asia Pacific
Asia Pacific is projected to attain the largest global smart transformer market share. The rising investments in smart grid projects and the growing emphasis of the regional countries to improve grid stability are predicted to be the key factors driving the adoption of smart transformers and the regional market growth.
North America is anticipated to acquire the second rank in the global market due to the increasing investments from utilities to upgrade existing grid infrastructure.
Europe is expected to acquire substantial growth during the forecast period. The rising demand to strengthen smart grids and the increasing digitalization in the power industry are likely to fuel the region’s market growth.
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Report Coverage-
The report covers the market’s competitive landscape and profiles key market players accordingly.
The report highlights the challenges and restraints to market growth and suggests strategies to overcome them.
The report showcases the impact of the coronavirus outbreak and its effect on market’s growth.
The report provides information on the key market trends and latest industry developments.
The report also highlights various market segments, including type, application, and region.
Table of Content:
Introduction
Executive Summary
Market Dynamics
Key Insights
Qualitative Analysis – Impact of COVID-19
Global Smart Transformer Market Analysis (USD Billion), Insights and Forecast, 2017-2028
North America Smart Transformer Market Analysis (USD Billion), Insights and Forecast, 2017-2028
Europe Smart Transformer Market Analysis (USD Billion), Insights and Forecast, 2017-2028
Asia Pacific Smart Transformer Market Analysis (USD Billion), Insights and Forecast, 2017-2028
Latin America Smart Transformer Market Analysis (USD Billion), Insights and Forecast, 2017-2028
Middle East & Africa Smart Transformer Market Analysis (USD Billion), Insights and Forecast, 2017-2028
Competitive Analysis
Continue….
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About Us:
Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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