Global Smart Transformer Market 2017-2021

Overview of the global smart transformer market

To meet the stringent carbon emission regulations and to minimize the dependency on the depleting fossil resources, several countries are focusing on utilizing renewable sources of energy, such as wind and solar. Technavio's market study identifies the capacity expansions in renewable power generation as one of the primary growth factors for the smart transformer market. GCC countries and countries in Europe including Germany, Turkey, and Sweden have already started expanding the capacity of their renewable power generation units. With the increasing focus towards the commercialization of renewable energy, the demand for power and distribution transformers will considerably increase in the coming years. This will drive the growth of the smart transformer market which according to our analysts, will grow at a CAGR of more than 15% by 2021.

Owing to the increasing demand for electricity, there is a rise in investments towards the development of smart grids in countries in the APAC and GCC. It has been observed that China will account for more than 24% of the global smart grid market by 2020. The evolution of smart grids will be one of the major trend gaining traction in the smart transformer market since smart grids will be equipped with these transformers to enhance their efficiency. Key players have already started focusing on manufacturing and providing smart transformers for smart grids.

Competitive landscape and key vendors

The smart power transformer market has the presence of few international vendors. The established vendors in Western Europe are focusing on expanding their market shares in highly potential regions such as APAC through strategic agreements and M&As. Moreover, it is quite difficult for the new players to compete with the international vendors especially in terms of factors including quality, design, product features, and turnaround time.

The leading vendors in the market are-

• ABB
• GE
• Siemens

The other prominent vendors in the market are BHEL, CG, Eaton, GRIDBRIDGE, GRIDCO SYSTEMS, Howard Industries, Miracle Electronics Devices, Mitsubishi Electric, Schneider Electric, SPX TRANSFORMER SOLUTIONS, and Varentec.

Segmentation by type and analysis of the smart transformer market

• Smart distribution transformers
• Smart power transformers

Smart distribution transformers accounted for the highest shares of the smart transformers market in 2016. The developing countries like India and China are witnessing rapid urbanization and this in turn, is resulting in the growing demand for the reliable distribution of electric power. This in turn, will drive the demand for smart distribution transformers in these countries during the next few years.

Geographical segmentation and analysis of the smart transformer market

• Americas
• APAC
• EMEA

APAC will account for the major shares of this market during the forecast period. The rising electricity consumption in major countries such as China and India due to the rapid urbanization and the improving living standards, will propel growth of the smart transformer market in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global smart transformer market?
• What are the key market trends impacting the growth of the global smart transformer market?
• What are the challenges to market growth?
• Who are the key vendors in the global smart transformer market?
• What are the market opportunities and threats faced by the vendors in the global smart transformer market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global smart transformer market?

Technavio also offers customization on reports based on specific client requirement.

This upcoming report on the global smart transformers market is an integral part of Technavio's heavy industry portfolio and offers strategic insights that can be useful to clients in the manufacturing, construction, and government sectors. According to Technavio's analysts, the rapid transition to smart grid systems is likely to be one of the factors driving this market's growth over the next four years.

To offer clients insights into the growth of this market, this upcoming market research report on the smart transformer market covers various geographies like the Americas, APAC, and EMEA and also segments the market on the basis of the types of transformers. Although the market is anticipated to witness steady growth, an increase in distribution generation may restrict this market's growth over the next four years.

This report covers some of the vendors operating in the market space such as Siemens, ABB, and Schneider Electric to offer clients insights into the competitive landscape. This research report offers a thorough analysis of the similar segments in the industry like construction, tools and components, and engineering tools. Our market research reports for the heavy industry also include an analysis of the rapidly growing market segments like the air compressors market, which is expected to post a CAGR of around 4% by 2021. Besides a thorough analysis of the trends, growth drivers, and challenges influencing the growth of the market, this report offers a detailed analysis of the market competition, market segmentation, market share, and size.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.