Market Overview:
The global smart transformer market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy efficiency and the need for reliable and secure power transmission. In addition, the growing penetration of renewable energy sources is also contributing to the growth of this market. The global smart transformer market can be segmented on the basis of type into smart distribution transformer, smart power transformer, and other types.
Product Definition:
A Smart Transformer is a transformer that has been fitted with sensing and communication devices which allow it to collect, monitor and transmit data about its own performance. The data collected by the smart transformer can be used to improve overall system performance, diagnose faults and predict failures.
Smart Distribution Transformer:
Smart distribution transformer is a special type of power transformer which has intelligent electronic devices embedded in it. These transformers are used to step up or step down the voltage levels and can be used with battery packs, solar panels, wind turbines and other sources of alternative energy. Smart distribution transformers are equipped with several electronic devices such as sensors, microcontrollers and programmable logic controllers (PLC).
Smart Power Transformer:
A smart power transformer is a device that monitors and regulates power flow between two or more electric circuits. It can detect short circuits, overloading, and voltage fluctuations in its attached devices and quickly switches energy sources to protect them from damage.
Smart transformers are equipped with electronic protection devices such as fuses, circuit breakers, or MOSFETs (Metal Oxide Semiconductor Field Effect Transistors).
Application Insights:
The industrial sector accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The growing demand for energy efficient solutions, rising need for automation in industries such as oil & gas, power, and others are some of the key factors driving this segment. Furthermore, increasing investments by companies such as Siemens AG., ABB Ltd., and Mitsubishi Electric Corporation are further expected to drive growth over the forecast period.
The residential sector is also estimated to witness significant growth during the same period owing to increasing government initiatives on improving electricity supply infrastructure coupled with rising demand from end-use industries such as healthcare, hospitality etc.
Regional Analysis:
Asia Pacific region accounted for the largest market share in 2017 and is anticipated to continue its dominance over the forecast period. The growth of this region can be attributed to increasing industrialization, rising adoption of smart grid technology, and growing investments in renewable energy sources. Increasing demand for electricity due to rapid urbanization has led governments across various countries including China and India to invest heavily in renewable power generation projects. This is expected to drive industry expansion over the next eight years.
Europe was another major contributor towards industry growth owing to early adoption of technologies such as smart meters, which are now being adopted across most regions globally. North America also contributed significantly towards market revenue owing electric vehicle (EV) charging stations that are increasingly becoming available at workplaces, restaurants, malls etc.
Growth Factors:
- Increasing demand for energy-efficient devices: The global market for smart transformers is expected to grow at a CAGR of more than 9% from 2016 to 2020. This growth can be attributed to the increasing demand for energy-efficient devices across the globe. Smart transformers help in reducing power losses and improving power quality, which in turn helps save energy and money.
- Rising investments in smart grid infrastructure: Governments around the world are investing heavily in smart grid infrastructure projects, which is driving the growth of the global market for smart transformers. The deployment of advanced metering infrastructure (AMI), distribution automation (DA), and other such systems is helping utilities manage their networks more efficiently and reduce costs associated with network maintenance and operation.
- Growing popularity of renewable energy sources: Renewable sources such as solar and wind are becoming increasingly popular around the world as they offer a cleaner alternative to traditional fuels like coal and natural gas. Smart transformers play an important role in integrating these renewable sources into the grid by allowing them to connect with traditional power grids without causing any disruptions or fluctuations in voltage or frequency levels..
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Transformers Market Research Report
By Type
Smart Distribution Transformer, Smart Power Transformer, Other
By Application
Industrial Sector, Residential Sector, Commercial Sector
By Companies
ABB, GE, BHEL, Siemens, CG, Eaton, Schneider Electric, Mitsubishi Electric, SPX Transformer Solutions, Gridbridge, Gridco Systems, Howard Industries, Miracle Electronics Devices, Varentec
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
233
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Smart Transformers Market Report Segments:
The global Smart Transformers market is segmented on the basis of:
Types
Smart Distribution Transformer, Smart Power Transformer, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Industrial Sector, Residential Sector, Commercial Sector
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- GE
- BHEL
- Siemens
- CG
- Eaton
- Schneider Electric
- Mitsubishi Electric
- SPX Transformer Solutions
- Gridbridge
- Gridco Systems
- Howard Industries
- Miracle Electronics Devices
- Varentec
Highlights of The Smart Transformers Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Smart Distribution Transformer
- Smart Power Transformer
- Other
- By Application:
- Industrial Sector
- Residential Sector
- Commercial Sector
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Transformers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Smart Transformers is a technology that allows transformers to communicate with each other and other devices, such as computers and smartphones. This allows the transformers to share information about their status, settings, and operations.
Some of the major players in the smart transformers market are ABB, GE, BHEL, Siemens, CG, Eaton, Schneider Electric, Mitsubishi Electric, SPX Transformer Solutions, Gridbridge, Gridco Systems, Howard Industries, Miracle Electronics Devices, Varentec.
The smart transformers market is expected to register a CAGR of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Transformers Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Smart Transformers Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Smart Transformers Market - Supply Chain
4.5. Global Smart Transformers Market Forecast
4.5.1. Smart Transformers Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Smart Transformers Market Size (000 Units) and Y-o-Y Growth
4.5.3. Smart Transformers Market Absolute $ Opportunity
5. Global Smart Transformers Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Smart Transformers Market Size and Volume Forecast by Type
5.3.1. Smart Distribution Transformer
5.3.2. Smart Power Transformer
5.3.3. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Smart Transformers Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Smart Transformers Market Size and Volume Forecast by Application
6.3.1. Industrial Sector
6.3.2. Residential Sector
6.3.3. Commercial Sector
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Smart Transformers Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Smart Transformers Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Smart Transformers Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Smart Transformers Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Smart Transformers Demand Share Forecast, 2019-2026
9. North America Smart Transformers Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Smart Transformers Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Smart Transformers Market Size and Volume Forecast by Application
9.4.1. Industrial Sector
9.4.2. Residential Sector
9.4.3. Commercial Sector
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Smart Transformers Market Size and Volume Forecast by Type
9.7.1. Smart Distribution Transformer
9.7.2. Smart Power Transformer
9.7.3. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Smart Transformers Demand Share Forecast, 2019-2026
10. Latin America Smart Transformers Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Smart Transformers Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Smart Transformers Market Size and Volume Forecast by Application
10.4.1. Industrial Sector
10.4.2. Residential Sector
10.4.3. Commercial Sector
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Smart Transformers Market Size and Volume Forecast by Type
10.7.1. Smart Distribution Transformer
10.7.2. Smart Power Transformer
10.7.3. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Smart Transformers Demand Share Forecast, 2019-2026
11. Europe Smart Transformers Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Smart Transformers Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Smart Transformers Market Size and Volume Forecast by Application
11.4.1. Industrial Sector
11.4.2. Residential Sector
11.4.3. Commercial Sector
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Smart Transformers Market Size and Volume Forecast by Type
11.7.1. Smart Distribution Transformer
11.7.2. Smart Power Transformer
11.7.3. Other
11.8. Basis Point Share (BPS) Analysis by Type
11.9.Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Smart Transformers Demand Share, 2019-2026
12. Asia Pacific Smart Transformers Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Smart Transformers Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Smart Transformers Market Size and Volume Forecast by Application
12.4.1. Industrial Sector
12.4.2. Residential Sector
12.4.3. Commercial Sector
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Smart Transformers Market Size and Volume Forecast by Type
12.7.1. Smart Distribution Transformer
12.7.2. Smart Power Transformer
12.7.3. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Smart Transformers Demand Share, 2019-2026
13. Middle East & Africa Smart Transformers Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Smart Transformers Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Smart Transformers Market Size and Volume Forecast by Application
13.4.1. Industrial Sector
13.4.2. Residential Sector
13.4.3. Commercial Sector
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Smart Transformers Market Size and Volume Forecast by Type
13.7.1. Smart Distribution Transformer
13.7.2. Smart Power Transformer
13.7.3. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Smart Transformers Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Smart Transformers Market: Market Share Analysis
14.2. Smart Transformers Distributors and Customers
14.3. Smart Transformers Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. ABB
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. GE
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. BHEL
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Siemens
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. CG
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Eaton
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Schneider Electric
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Mitsubishi Electric
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. SPX Transformer Solutions
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Gridbridge
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Gridco Systems
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Howard Industries
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Miracle Electronics Devices
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Varentec
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
