Smart transformers work independently to regulate the voltage constantly while maintaining contact with smart grid to inform and give feedback about transformer and power supply which provided through remote administration. Smart transformers also act as voltage regulators. These transformers are specially designed to provide voltage optimized power supply according to the energy needs so, commercial industries started using these transformers more day by day due to power efficiency and cost effectiveness.
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Market Growth Factors:
Consecutive increment in awareness about energy sources, developing infrastructure, and advancement in technologies drives the smart transformer market globally. Also, huge investment in smart grids and energy systems helps to grow this market which also the main restraint for smart transformer market as it required high initial costs. Rise in industrialization and urbanization smart grids with smart transformers are in heavy demand. However, factors like affordable capital, cyber security and data privacy prevent the market growth. Advancement and growth in electrical vehicles is expected to create great opportunities for smart transformers market in future.
The smart transformers market is segmented on the basis of types as, power transformers, distribution transformers, speciality transformers, and instrument transformers. Further, it is classified as converters, switches, and transformer monitoring hardware. Base on the applications like, traction locomotive, smart grid, and electric vehicle charging.
Region-wise, the smart transformers market is segregated:-
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o South Africa
o Rest of the LAMEA
The major market for smart transformers is the Asia Pacific region. Rise in urbanization & industrialization in developing economies helps to dominate this market. Asia Pacific region is followed by North America and Europe. Developing infrastructure and improving power utilization increase the demand of smart transformers in these regions.
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The major key players for smart transformers market are
- Schneider Electric,
- Wilson Transformer,
- Mitsubishi Electric,
- CG Power, and Howard Industries.
These players are trying to recognise the needs of market in developing countries and expanding their strategies to improve business needs.
• On March, 2015, ABB launched Transformer Intelligence; innovative sensor based monitoring solution for transformer assets, at its US Automation and Power World event in Houston, Texas.
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