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Smart Transformers Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Sep 01, 2024
Length 196 Pages
SKU # FOB19185530

Description

Smart Transformers Market



Growth Factors of Smart Transformers Market

The smart transformers market size was valued at USD 2.39 billion in 2023, and the market is now projected to grow from USD 2.68 billion in 2024 to USD 7.27 billion by 2032, exhibiting a CAGR of 13.3% during the forecast period of 2024-2032.

The global impact of COVID-19 has been exceptional and shocking, with observing a lower-than-anticipated demand across all regions during the pandemic. The drop in demand has led to substantial variation in power consumption and distribution, which additional has disturbed the optimization of making programs and tasks in power balance due to uncertainties from both the demand-side and generation sides.

The power industry is at the control of altering from centralized, conventional, and safety threats to circulated energy mix generation and progression in control systems. Augmented digitalization in the power system has aided control real and reactive power, develop the power superiority, bound fault current, and decrease energy consumption. Digitalization has also been combined with kit and devices, which helps progress system competence, such as modifier, an integral part of the smart grid, which works freely to control the voltage and permit remote administration in the arrangement which will upsurge the smart transformers market growth.

The growth of smart grids will deliver several advantages such as energy-saving through decreasing consumption, dropping balancing cost, smoothing the peak demand, accurateness in the electric bill, and other aids. This makes the power transmission through the grid system more supple and generates more prospects for improved grid modernization and smart grids for both services and clients. Establishments are growing their implementation of smart grids chiefly due to ecological worries and want for a dependable and better-quality energy grid.

Comprehensive Analysis of Smart Transformers Market

The market can be segmented in various ways depending on the focus of study such as by type, by application. Based on the type, this market is segmented into power transformers, distribution transformers, specialty transformers, and instrument transformers. Based on the application, the market is segmented into the smart grid, traction locomotive, electric vehicle infrastructure, and others.

North America region is dominating the smart transformers market share due to substantial upsurge in investments from benefits to improve the present grid infrastructure. The occurrence of key market players and an emphasis on sustainable energy solutions further enhance the market growth.

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and growing market share by merger, partnerships and others. These players include ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric Corporation (Japan), Eaton (Ireland), Alstom (France), GE Power (U.S.), Powerstar (England), CG Power and Industrial Solutions Limited (India), Ormazabal (Spain), SPX Transformer Solutions Inc. (U.S.), Triad Magnetics (U.S.) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In April 2021, GE’s Renewable Energy Grid Solution and Hitachi ABB Power Grids contracted a landmark agreement to decrease the ecological impact in the electrical transmission industry. The agreement embraces complementary share intellectual property of power technologies and accelerating efficient insulation and switching gas in high-voltage equipment.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 13.3% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Type

- Power Transformers

- Distribution Transformers

- Specialty Transformers

- Instrument Transformers

By Application

- Smart Grid

- Traction Locomotive

- Electric Vehicle Infrastructure

- Others

By Geography

- North America (By Type, Application, and Country)
  • U.S. (By Application)
  • Canada (By Application)
- Europe (By Type, Application, and Country)
  • Germany (By Application)
  • U.K. (By Application)
  • France (By Application)
  • Italy (By Application)
  • Spain (By Application)
  • Rest of Europe (By Application)
- Asia Pacific (By Type, Application, and Country)
  • China (By Application)
  • Japan (By Application)
  • India (By Application)
  • Australia (By Application)
  • Southeast Asia (By Application)
  • Rest of Asia Pacific (By Application)
- Latin America (By Type, Application, and Country)
  • Brazil (By Application)
  • Mexico (By Application)
  • Rest of Latin America (By Application)
- Middle East & Africa (By Type, Application, and Country)
  • GCC (By Application)
  • South Africa (By Application)
  • Rest of Middle East & Africa (By Application)

Table of Contents

196 Pages
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Industry SWOT Analysis
4.5. Porters Five Forces Analysis
4.6. Impact of COVID-19 on the Smart Transformer Market
5. Global Smart Transformer Market Analysis (USD Billion), Insights and Forecast, 2019-2032
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Type
5.2.1. Power Transformer
5.2.2. Distribution Transformer
5.2.3. Specialty Transformer
5.2.4. Instrument Transformer
5.3. Market Analysis, Insights and Forecast – By Application
5.3.1. Smart Grid
5.3.2. Traction Locomotive
5.3.3. Electric Vehicle Infrastructure
5.3.4. Others
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1. North America
5.4.2. Europe
5.4.3. Asia Pacific
5.4.4. Middle East & Africa
5.4.5. Latin America
6. North America Smart Transformer Market Analysis (USD Billion), Insights and Forecast, 2019-2032
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Type
6.2.1. Power Transformer
6.2.2. Distribution Transformer
6.2.3. Specialty Transformer
6.2.4. Instrument Transformer
6.3. Market Analysis, Insights and Forecast – By Application
6.3.1. Smart Grid
6.3.2. Traction Locomotive
6.3.3. Electric Vehicle Infrastructure
6.3.4. Others
6.4. Market Analysis, Insights and Forecast – By Country
6.4.1. U.S. Market Analysis and Forecast – By Application
6.4.1.1. Smart Grid
6.4.1.2. Traction Locomotive
6.4.1.3. Electric Vehicle Infrastructure
6.4.1.4. Others
6.4.2. Canada Market Analysis and Forecast – By Application
6.4.2.1. Smart Grid
6.4.2.2. Traction Locomotive
6.4.2.3. Electric Vehicle Infrastructure
6.4.2.4. Others
7. Europe Smart Transformer Market Analysis (USD Billion), Insights and Forecast, 2019-2032
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Type
7.2.1. Power Transformer
7.2.2. Distribution Transformer
7.2.3. Specialty Transformer
7.2.4. Instrument Transformer
7.3. Market Analysis, Insights and Forecast – By Application
7.3.1. Smart Grid
7.3.2. Traction Locomotive
7.3.3. Electric Vehicle Infrastructure
7.3.4. Others
7.4. Market Analysis, Insights and Forecast – By Country
7.4.1. U.K. Market Analysis and Forecast – By Application
7.4.1.1. Smart Grid
7.4.1.2. Traction Locomotive
7.4.1.3. Electric Vehicle Infrastructure
7.4.1.4. Others
7.4.2. Germany Market Analysis and Forecast – By Application
7.4.2.1. Smart Grid
7.4.2.2. Traction Locomotive
7.4.2.3. Electric Vehicle Infrastructure
7.4.2.4. Others
7.4.3. France Market Analysis and Forecast – By Application
7.4.3.1. Smart Grid
7.4.3.2. Traction Locomotive
7.4.3.3. Electric Vehicle Infrastructure
7.4.3.4. Others
7.4.4. Italy Market Analysis and Forecast – By Application
7.4.4.1. Smart Grid
7.4.4.2. Traction Locomotive
7.4.4.3. Electric Vehicle Infrastructure
7.4.4.4. Others
7.4.5. Spain Market Analysis and Forecast – By Application
7.4.5.1. Smart Grid
7.4.5.2. Traction Locomotive
7.4.5.3. Electric Vehicle Infrastructure
7.4.5.4. Others
7.4.6. Rest of Europe Market Analysis and Forecast – By Application
7.4.6.1. Smart Grid
7.4.6.2. Traction Locomotive
7.4.6.3. Electric Vehicle Infrastructure
7.4.6.4. Others
8. Asia Pacific Smart Transformer Market Analysis (USD Billion), Insights and Forecast, 2019-2032
8.1. Key Findings / Summary
8.2. Market Analysis, Insights and Forecast – By Type
8.2.1. Power Transformer
8.2.2. Distribution Transformer
8.2.3. Specialty Transformer
8.2.4. Instrument Transformer
8.3. Market Analysis, Insights and Forecast – By Application
8.3.1. Smart Grid
8.3.2. Traction Locomotive
8.3.3. Electric Vehicle Infrastructure
8.3.4. Others
8.4. Market Analysis, Insights and Forecast – By Country
8.4.1. China Market Analysis and Forecast – By Application
8.4.1.1. Smart Grid
8.4.1.2. Traction Locomotive
8.4.1.3. Electric Vehicle Infrastructure
8.4.1.4. Others
8.4.2. India Market Analysis and Forecast – By Application
8.4.2.1. Smart Grid
8.4.2.2. Traction Locomotive
8.4.2.3. Electric Vehicle Infrastructure
8.4.2.4. Others
8.4.3. Japan Market Analysis and Forecast – By Application
8.4.3.1. Smart Grid
8.4.3.2. Traction Locomotive
8.4.3.3. Electric Vehicle Infrastructure
8.4.3.4. Others
8.4.4. Australia Market Analysis and Forecast – By Application
8.4.4.1. Smart Grid
8.4.4.2. Traction Locomotive
8.4.4.3. Electric Vehicle Infrastructure
8.4.4.4. Others
8.4.5. Southeast Asia Market Analysis and Forecast – By Application
8.4.5.1. Smart Grid
8.4.5.2. Traction Locomotive
8.4.5.3. Electric Vehicle Infrastructure
8.4.5.4. Others
8.4.6. Rest of Asia Pacific Market Analysis and Forecast – By Application
8.4.6.1. Smart Grid
8.4.6.2. Traction Locomotive
8.4.6.3. Electric Vehicle Infrastructure
8.4.6.4. Others
9. Latin America Smart Transformer Market Analysis (USD Billion), Insights and Forecast, 2019-2032
9.1. Key Findings / Summary
9.2. Market Analysis, Insights and Forecast – By Type
9.2.1. Power Transformer
9.2.2. Distribution Transformer
9.2.3. Specialty Transformer
9.2.4. Instrument Transformer
9.3. Market Analysis, Insights and Forecast – By Application
9.3.1. Smart Grid
9.3.2. Traction Locomotive
9.3.3. Electric Vehicle Infrastructure
9.3.4. Others
9.4. Market Analysis, Insights and Forecast – By Country
9.4.1. Brazil Market Analysis and Forecast – By Application
9.4.1.1. Smart Grid
9.4.1.2. Traction Locomotive
9.4.1.3. Electric Vehicle Infrastructure
9.4.1.4. Others
9.4.2. Mexico Market Analysis and Forecast – By Application
9.4.2.1. Smart Grid
9.4.2.2. Traction Locomotive
9.4.2.3. Electric Vehicle Infrastructure
9.4.2.4. Others
9.4.3. Rest of Latin America Market Analysis and Forecast – By Application
9.4.3.1. Smart Grid
9.4.3.2. Traction Locomotive
9.4.3.3. Electric Vehicle Infrastructure
9.4.3.4. Others
10. Middle East & Africa Smart Transformer Market Analysis (USD Billion), Insights and Forecast, 2019-2032
10.1. Key Findings / Summary
10.2. Market Analysis, Insights and Forecast – By Type
10.2.1. Power Transformer
10.2.2. Distribution Transformer
10.2.3. Specialty Transformer
10.2.4. Instrument Transformer
10.3. Market Analysis, Insights and Forecast – By Application
10.3.1. Smart Grid
10.3.2. Traction Locomotive
10.3.3. Electric Vehicle Infrastructure
10.3.4. Others
10.4. Market Analysis, Insights and Forecast – By Country
10.4.1. GCC Market Analysis and Forecast – By Application
10.4.1.1. Smart Grid
10.4.1.2. Traction Locomotive
10.4.1.3. Electric Vehicle Infrastructure
10.4.1.4. Others
10.4.2. South Africa Market Analysis and Forecast – By Application
10.4.2.1. Smart Grid
10.4.2.2. Traction Locomotive
10.4.2.3. Electric Vehicle Infrastructure
10.4.2.4. Others
10.4.3. Rest of Middle East & Africa Market Analysis and Forecast – By Application
10.4.3.1. Smart Grid
10.4.3.2. Traction Locomotive
10.4.3.3. Electric Vehicle Infrastructure
10.4.3.4. Others
11. Competitive Analysis
11.1. Company Market Share Analysis, 2023
11.2. Company Profile
11.2.1. ABB
11.2.1.1. Business Overview
11.2.1.2. Product & Service Offering
11.2.1.3. Overall Revenue
11.2.1.4. Geographic Presence
11.2.1.5. Recent Development
11.2.2. Schneider Electric
11.2.2.1. Business Overview
11.2.2.2. Product & Service Offering
11.2.2.3. Overall Revenue
11.2.2.4. Geographic Presence
11.2.2.5. Recent Development
11.2.3. Siemens
11.2.3.1. Business Overview
11.2.3.2. Product & Service Offering
11.2.3.3. Overall Revenue
11.2.3.4. Geographic Presence
11.2.3.5. Recent Development
11.2.4. Eaton
11.2.4.1. Business Overview
11.2.4.2. Product & Service Offering
11.2.4.3. Overall Revenue
11.2.4.4. Geographic Presence
11.2.4.5. Recent Development
11.2.5. Alstom
11.2.5.1. Business Overview
11.2.5.2. Product & Service Offering
11.2.5.3. Overall Revenue
11.2.5.4. Geographic Presence
11.2.5.5. Recent Development
11.2.6. GE Power
11.2.6.1. Business Overview
11.2.6.2. Product & Service Offering
11.2.6.3. Overall Revenue
11.2.6.4. Geographic Presence
11.2.6.5. Recent Development
11.2.7. Triad Magnetics
11.2.7.1. Business Overview
11.2.7.2. Product & Service Offering
11.2.7.3. Overall Revenue
11.2.7.4. Geographic Presence
11.2.7.5. Recent Development
11.2.8. Mitsubishi Electric
11.2.8.1. Business Overview
11.2.8.2. Product & Service Offering
11.2.8.3. Overall Revenue
11.2.8.4. Geographic Presence
11.2.8.5. Recent Development
11.2.9. Powerstar
11.2.9.1. Business Overview
11.2.9.2. Product & Service Offering
11.2.9.3. Overall Revenue
11.2.9.4. Geographic Presence
11.2.9.5. Recent Development
11.2.10. CG Power and Industrial Solutions Limited
11.2.10.1. Business Overview
11.2.10.2. Product & Service Offering
11.2.10.3. Overall Revenue
11.2.10.4. Geographic Presence
11.2.10.5. Recent Development
11.2.11. Ormazabal
11.2.11.1. Business Overview
11.2.11.2. Product & Service Offering
11.2.11.3. Overall Revenue
11.2.11.4. Geographic Presence
11.2.11.5. Recent Development
11.2.12. SPX Transformer Solutions Inc.
11.2.12.1. Business Overview
11.2.12.2. Product & Service Offering
11.2.12.3. Overall Revenue
11.2.12.4. Geographic Presence
11.2.12.5. Recent Development

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