Global Smart Transformers Market: Overview
As per the report published by Market Research Future (MRFR), the Global Smart Transformers Market is marked to project remarkable expansion at a CAGR of 11.5% during the forecast period of 2017-2023. Smart transformers are technologically advanced transformers that are equipped with communication technology, monitoring software, and other advanced features.
Global Smart Transformers Market: Drivers and Restraints
Smart transformers are equipped with technologically advanced features that facilitate remote access by maintaining contact with smart grid, which reduces the required maintenance time. The advantages of smart transformers to safeguard electrical equipment from power variations and reduction in energy consumption along with greenhouse emission are generating high demand for smart transformers, which in turn is propelling the growth of the global smart transformers market. Moreover, rapid development of communication technology is also contributing to the noteworthy growth of the global smart transformers market. However, low penetration of technologically advanced solutions in the underdeveloped areas of the economically backward countries is restraining the expansion of the global smart transformers market during the assessment period.
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Global Smart Transformers Market: Competitive Analysis
The key players profiled by MRFR that are operating in the Global Smart Transformers Market are
- ABB Ltd. (Switzerland)
- Siemens AG (Germany)
- Schneider Electric SE (France)
- Eaton Corporation plc (Ireland)
- General Electric Company (the U.S.)
- Mitsubishi Electric Corporation. (Japan)
- Bharat Heavy Electricals Limited (India)
- Crompton Greaves Ltd. (India)
- Howard Industries. (the U.S.)
- SPX Transformer Solutions, Inc. (the U.S.)
- Alstom (France)
- Ormazabal (Spain)
The players in the global smart transformers market are focusing on business expansion through increased research and development expenditure for introducing advanced technologies in the global market. For instance, in April 2018, ABB Ltd., a leading manufacturer of electrification, robotics and motion, industrial automation and power grid products, has launched world’s very first digitally integrated power transformer in Germany.
Global Smart Transformers Market: Segmental Analysis
- Power Transformers
- Distribution Transformers
- Specialty Transformers
- Instrument Transformers
- Traction Locomotive
- Smart Grid
- Electric Vehicle Charging
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TABLE OF CONTENT
1 Executive Summary
2 Scope of the Report
3 Market Landscape
4 Market Dynamics
5 Global Smart Transformers Market by Type
6 Global Smart Transformers Market, By Component
7 Global Smart Transformers Market, By Application
8 Global Smart Transformers Market, By Region
9 Competitive Landscape
10 Company Profile
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