DUBLIN, November 21, 2017 /PRNewswire/ --
The "Global Smart Transformer Market 2017-2021" report has been added to Research and Markets' offering.
The global smart transformer market to grow at a CAGR of 15.25% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global smart transformer market for 2017-2021. To calculate the market size, the report considers the new installations/shipments/sales/volume/value and exclude retrofit/replacement/spares/aftermarket/services market. The report also includes a discussion of the key vendors operating in this market.
According to the report, one of the major drivers for this market is Renewable power generation capacity expansion. In 2014, China and the US each comprised about one-fifth of the global power generation capacity. China's capacity is expected to grow by single digits year-over-year till 2035. Most of the major expansion activities are taking place in renewable energy.
The latest trend gaining momentum in the market is Evolution of smart grids. The rising investment in smart grids in APAC and GCC is currently on the rise because of the increasing demand for electricity in these regions. Though all smart grids do not need be equipped with smart transformers, it is expected that the upcoming smart grids may be equipped with smart transformers to enhance the efficiency.
Further, the report states that one of the major factors hindering the growth of this market is High investment needed from a financially weak distribution sector for upgrading networks. The cost of upgrading smart grid systems comprises additional costs, such as the cost of replacement of transmission lines, power delivering systems, substation digitization, distribution systems, and digital controls. Consequently, power utilities and independent power producers (IPPs) are undergoing huge initial capital investments. It is anticipated that the smart grid technology's deployment cost in the US may increase exponentially over the next 20 years. This escalation is expected to stem from aging power infrastructure and the increased need for renewable power grid integration.
Other prominent vendors
- GRIDCO SYSTEMS
- Howard Industries
- Miracle Electronics Devices
- Mitsubishi Electric
- Schneider Electric
- SPX TRANSFORMER SOLUTIONS
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Type
Part 07: Regional Landscape
Part 08: Decision Framework
Part 09: Drivers And Challenges
Part 10: Market Trends
Part 11: Vendor Landscape
Part 12: Key Vendor Analysis
Part 13: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/nktntn/global_smart
Laura Wood, Senior Manager
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SOURCE Research and Markets