Smart Transformers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021
- Transparency Market Research
Smart transformers are transformers which integrates a general transformer’s features with monitoring software and communication technology among others. Power transformers are one of the most important and complex component of the electricity generation and transmission process. An owner of a power transformer has to face certain challenges such as high maintenance cost for extending life of a transformer among others. Failure of a power transformer can lead to dire consequences such as revenue loss, life loss and legal consequences among others.
Such challenges have led to the advent of smart transformers. This new-age transformers are designed to allow the maintenance of the power load independently. They can regulate the voltage constantly, while maintaining contact with the smart grid infrastructure, and deliver the optimal amount of power as and when required. They are programmed to allow remote monitoring and can act on any power fluctuations instantly. Provision for remote monitoring of critical components of the transformer, through in-built sensors, increases reliability of continuous power distribution and reduces chances of transformer failure. Faults can be recognized remotely on a real-time basis and actions can be taken faster. The smart transformers are also more environment friendly as they reduce energy consumption and thus reduce the emission of green house gases. They are also equipped to protect electrical equipments by safeguarding them from voltage fluctuations leading to increase in longevity of those equipments.
The market for smart transformers is still nascent but has tremendous potential of growth. Currently the market is mainly driven by the up gradation of aging power distribution networks across the globe. As part of development initiatives, governments in developing countries are undertaking huge investments to expand the reach of electrification across different villages and cities. Smart transformers are being utilized in such projects and thus their implementation is leading to the growth of the market. Demand for safer and more efficient power transmission coupled with environmental concerns on power generation has led to development of many international and nation-specific regulations such as European Commission’s Ecodesign regulation among others. Such regulations are also boosting the smart transformers market. The market is also positively impacted by the huge increase in utility (transformers) and industrial infrastructure development in the emerging markets such as China and India among others.
The global smart transformers market can be segmented, based on types, into distribution transformer, instrument transformer, power transformer and specialty transformer. On the basis of components, the market can be segmented into converters, high-frequency transformers, switches and others. On the basis of applications, the market can be segmented into electric vehicle charging, smart grid, traction locomotive and others. Furthermore, smart transformers market can be geographically segmented into North America, Europe, Asia-Pacific (APAC) and rest of the world.
Some of the key companies leading the distribution voltage regulator market are ABB Ltd. (Switzerland), Alstom SA (France), Cree Inc. (US), Crompton Greaves (India), Eaton Corporation Plc. (Ireland), General Electric Co. (US), Howard Industries Inc. (US), Mitsubishi Electric (Japan), Schneider Electric (France) and Siemens AG (Germany) among others.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.