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Global Smart Transformer Market 2017-2021

Global Smart Transformer Market 2017-2021

About Smart Transformer

Smart transformers, also known as solid-state transformers, control the electric distribution grid. They provide optimized voltage by maintaining the contact with the smart grid to provide feedback about the transformer and power supply through remote administration. Large commercial facilities are increasingly using these transformers, as they cater to the energy needs of the facility efficiently and economically.

In addition, smart transformers act as voltage regulators by instantly responding to the fluctuations. This helps in reducing the consumption of energy without disturbing the optimized voltage and provides optimal power supply to the electrical equipment. Thus, these transformers are increasingly preferred in Point of Common Coupling (PCC) in grids, which helps in protecting the electrical equipment during power fluctuations. Many vendors such as Miracle Electronics offer smart transformers.

Technavio’s analysts forecast the global smart transformer market to grow at a CAGR of 15.25% during the period 2017-2021.

Covered in this report

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 market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Smart Transformer Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • ABB
  • GE
  • Siemens
Other prominent vendors
  • BHEL
  • CG
  • Eaton
  • GRIDBRIDGE
  • GRIDCO SYSTEMS
  • Howard Industries
  • Miracle Electronics Devices
  • Mitsubishi Electric
  • Schneider Electric
  • SPX TRANSFORMER SOLUTIONS
  • Varentec
Market driver
  • Renewable power generation capacity expansion
  • For a full, detailed list, view our report
Market challenge
  • High investment needed from a financially weak distribution sector for upgrading networks
  • For a full, detailed list, view our report
Market trend
  • Evolution of smart grids
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Smart Transformer Market 2017-2021

Technavio recognizes the following companies as the key players in the global smart transformer market: ABB, GE, and Siemens

Other Prominent Vendors in the market are: BHEL, CG, Eaton, GRIDBRIDGE, GRIDCO SYSTEMS, Howard Industries, Miracle Electronics Devices, Mitsubishi Electric, Schneider Electric, SPX TRANSFORMER SOLUTIONS, and Varentec.

Commenting on the report, an analyst from Technavio’s team said: “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. This is expected to fuel the demand for smart transformers.”

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. Many countries are using renewable sources of energy, such as wind and solar energy, to meet stringent carbon emission goals and minimize the dependency on the depleting fossil resources.

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.

Companies Mentioned

ABB, GE, Siemens, BHEL, CG, Eaton, GRIDBRIDGE, GRIDCO SYSTEMS, Howard Industries, Miracle Electronics Devices, Mitsubishi Electric, Schneider Electric, SPX TRANSFORMER SOLUTIONS, and Varentec.

  • Executive summary
  • Scope of the report
  • Research methodology
  • Introduction
    • Market outline
  • Market landscape
    • Market overview
      • Table Global smart transformer market
    • Market size and forecast
      • Table Global smart transformer market 2016-2021 ($ millions)
    • Global power outlook
      • Table Global power outlook: Power demand 2000-2025 (billion KWh)
      • Table Global power outlook: Electricity consumption from various sources 2015-2040 (TWh)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by type
    • Table Global smart transformer market by type 2016 (%)
    • Table Global smart transformer market by type 2021 (%)
    • Global smart distribution transformers
      • Table Global smart distribution transformer market 2016-2021 ($ millions)
    • Global smart power transformers
      • Table Global smart power transformer market 2016-2021 ($ millions)
  • Regional landscape
    • Geographical segmentation
      • Table Global smart transformer market: Geographic segmentation 2016-2021 (%)
    • Regional comparison
      • Table Regional comparison
    • Smart transformer market in APAC - Market size & forecast
      • Table Smart transformer market in APAC - Market size & forecast 2016-2021 ($ millions)
      • Table Smart transformer market in APAC - Year over year growth 2016-2021 (%)
      • Table Length addition and refurbishment of T&D line in APAC 2014-2035 (thousand miles)
    • Smart transformer market in EMEA - Market size & forecast
      • Table Smart transformer market in EMEA - Market size & forecast 2016-2021 ($ millions)
      • Table Smart transformer market in EMEA - Year over year growth 2016-2021 (%)
      • Table Length addition and refurbishment T&D line in EMEA 2014-2035 (thousand miles)
    • Smart transformer market in Americas - Market size & forecast
      • Table Smart transformer market in Americas - Market size & forecast 2016-2021 ($ millions)
      • Table Smart transformer market in Americas - Year over year growth 2016-2021 (%)
      • Table T&D line length addition and refurbishment in Americas 2014-2035 (thousand miles)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Minimum cost of construction of distribution network per mile in the US 2016 ($)
      • Table Maximum cost of construction of distribution network per mile in the US 2016 ($)
      • Table Price of aluminum and copper January 2014-January 2017 ($ thousand per metric ton)
  • Market trends
    • Evolution of smart grids
    • Reduction in subsidies
  • Vendor landscape
    • Competitive scenario
      • Table Key vendors
    • Other prominent vendors
  • Key vendor analysis
    • ABB
    • GE
    • Siemens
  • Appendix
    • List of abbreviations
  • Explore Technavio

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