Europe Smart Transformers Market Forecast 2017-2025
KEY FINDINGS The Europe Smart transformers market was valued at $220 million in 2016 and is expected to reach $503 million by 2025 growing at a CAGR of 9.67% during the forecast period of 2017-2025. The major drivers facilitating the expansion of the market include a rise in the industrial growth, aging infrastructure leading to investment in smart grids, rising production of electricity and a growing demand for green energy.
MARKET INSIGHTS The market is witnessing plenty of growth opportunities owing to the rising sales of hybrid and electric vehicles and the need for more reliable error free network. The segmentation of the market can be done in three parts: by component, by application, and by type. The components for this market include switches, converters, etc. The applications of this market can be observed in areas like traction locomotives, alternative power generation, electric vehicle charging station and power (distribution) grid. Although the power grid market held the major share in the year 2016, it is the alternative power generation segment that is expected to hold the largest share by the end of the forecast period. The market by type is classified into instrument transformer, specialty transformer distribution transformer, and power transformer. In the coming years, the distribution transformer is predicted to be the fastest growing type of the market.
COMPETITIVE INSIGHTS Some of the top players in the market include Cooper Industry, Wilson Power Solutions Alstom, Amantys Limited, Grid Bridge, Inc, Crompton Greaves Ltd, Eaton Corporation Plc, Seimens, Schneider Electric, Maschinenfabrik Reinhausen Gmbh, and Tesla Transformers Ltd.