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Smart Transformers Market Worth 2.43 Billion USD by 2022


News provided by

MarketsandMarkets

12 Oct, 2017, 15:00 GMT

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PUNE, India, October 12, 2017 /PRNewswire/ --

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The report "Smart Transformers Market by Component (Converters, Switches, Transformers, Hardware for Transformer Monitoring), Type (Power, Distribution, Specialty, and Instrument), Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region-Global Forecast to 2022", published by MarketsandMarkets™, the market is expected to grow from an estimated USD 1.47 billion in 2017 to USD 2.43 billion by 2022, registering a CAGR of 10.54%, from 2017 to 2022. The global market is set to witness a significant growth due to increasing emphasis on alternative energy production across the globe, digitalization of power utilities, and huge investments in smart grids and energy systems.

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Browse 65 market data tables and 37 figures spread across 147 pages and an in-depth TOC of the "Smart Transformers Market: Global Forecast to 2022"

http://www.marketsandmarkets.com/Market-Reports/smart-transformers-market-15362928.html

Early buyers will receive 10% customization on this report 

The smart grid segment is expected to hold the largest share of the Smart Transformers Market, by application, during the forecast period 

The smart grid segment led the Smart Transformers Market in 2016, and is projected to dominate the market during the forecast period. One of the biggest uses of a smart transformer in smart grids is its role in integrating power from distributed generation into the main grid. Smart grids have two-way communication for real-time monitoring and controlling of network characteristics. For this, the basic step is the implementation of smart meters for end-user interactions, followed by employing smart transformers in the network to further strengthen communications and avoid power outages. Although smart grids prevent faults and power outages, they are also equipped with self-realization characteristic that allows the network to restore to normal, once the fault is cleared. This is driving the market for smart transformers in the smart grid segment, which is expected to create new revenue pockets for the Smart Transformers Market during the forecast period.

Download PDF Brochure @ http://www.marketsandmarkets.com/pdfdownload.asp?id=15362928

Distribution transformers to be the fastest growing segment in the Smart Transformers Market 

With regard to the type segment, distribution transformers are expected to constitute the fastest growing market from 2017 to 2022. Smart distribution networks require smart transformers to communicate with consumers and also for continuous load monitoring. Distribution transformers are less efficient than power transformers as they are subject to load fluctuations and the chances of failure are higher. Power distribution sometimes results in increased load above the peak limit of the equipment. Hence, the implementation of a distribution network is essential for proper load management, resulting in better power quality and less power outages.

Asia Pacific: The leading market for smart transformers 

In this report, the Smart Transformers Market has been analyzed with respect to six regions, namely, North America, Europe, Asia Pacific, South America, the Middle East, and Africa. Asia Pacific is expected to account for the largest market share in the global Smart Transformers Market by 2022. Countries, such as China, Japan, and India are investing in grid expansion projects to increase the distribution grid reliability. China accounted for the largest share of the Smart Transformers Market in Asia Pacific in 2016 and has the highest installed generation and distribution capacity, resulting in an increased demand for transformers. The country, which is an export-oriented economy, has witnessed an exponential growth in the demand for electricity in the past couple of decades, fueled by industrialization and infrastructural developments. Meanwhile, the Indian government is also taking initiatives to increase the power generation capacity using renewable energy sources. For instance, the country is the third-largest electricity producer in the world and is likely to generate approximately 30 GW of power from renewable energy sources in 2017. This would require grid connected as well as local distribution networks. These factors are expected to drive the growth of the Smart Transformers Market in Asia Pacific.

Make an Inquiry @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=15362928

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Smart Transformers Market. These players include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Eaton (Ireland), and General Electric (US). The leading players are trying to make inroads in the markets in developed economies and are adopting various strategies to increase their market shares.

Browse Related Reports: 

Digital Utility Market by Network (Generation, Transmission and Distribution, and Retail), Technology (Hardware and Integrated Solutions (Cloud and Software, Services)), and Region (North America, Europe, and Asia-Pacific) - Global Forecast to 2022

http://www.marketsandmarkets.com/Market-Reports/digital-utility-market-230978516.html

Smart Meters Market by Type (Electric, Water, and Gas), Application (Commercial, Residential, and Industrial), Technology (Automatic Meter Reading and Advanced Metering Infrastructure), and by Region - Global Forecasts to 2022

http://www.marketsandmarkets.com/Market-Reports/smart-meter-366.html

Subscribe Reports from Energy and Power Domain @ http://www.marketsandmarkets.com/Knowledgestore.asp

About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

Visit Our Blog @ http://www.marketsandmarketsblog.com/market-reports/energy-and-power

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