The Global Market for Smart Transformers is Projected to Exceed US$2.6 Billion by 2020

Robust Demand for Smart Grid Enabling Technologies Drives the Smart Transformers Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Smart Transformers market. The global market for Smart Transformers is projected to exceed US$2.6 billion by 2020, driven by robust demand for smart grid components, and increasing focus on on-load voltage regulation and efficient energy utilization.

Major power supply challenges are expected to be encountered by existing infrastructure in the coming years. Important among these are growing global population & energy consumption, fast depleting non-renewable energy sources and rising environmental concerns. The smart grid standard comprising intelligent power infrastructure solutions is the need of the hour. Smart transformers represent one such intelligent energy management solution in the smart grid infrastructure for addressing challenges in energy savings, on-load voltage regulation, and energy utilization, among others. Smart transformers are not just advanced versions of the traditional transformers, capable of resolving issues with regard to power loss and other concerns, but are a collection of several sophisticated components including software, sensors, monitors and analytics and diagnostic solutions. High-powered semiconductors and control circuitry in these transformers provide flexible and high level control and protection to the entire power distribution network from outages.

Superior attributes of smart transformers that are expected to drive their widespread adoption include high efficiency, reduced maintenance costs, bidirectional flow of power, high flexibility, better power quality, and communication capability that is critical for real-time monitoring, and control. Though the market is in its infancy, smart transformers hold enormous potential for future growth, particularly in the distribution network of power grids. Massive capacity additions for energy storage, expanding capacities of renewable energy generation, and significant investments in power transmission and distribution (T&D) infrastructure represent primary growth drivers in the market. Increasing focus on improving grid-related reliability and reducing electricity wastage; spiraling energy consumption; and inefficient grid infrastructure represent other important factors that are poised to benefit market expansion.

As stated by the new market research report on Smart Transformers, Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 20.4% over the analysis period. The need to develop, modernize and upgrade the energy infrastructure ranks as the most important driver spurring growth in the region. Continued industrialization, expanding population and energy needs, steady growth in GDP, and power shortages represent other important growth drivers in the region. Demand in developed markets such as the United States, Europe and Japan is largely driven by the replacement of aging power transmission and distribution equipment.

Key players covered in the report include ABB Ltd., Alstom S.A., Avago Technologies, Bharat Heavy Electricals Limited (BHEL), Crompton Greaves Ltd., Duke Energy Corporation, Eaton Corp., General Electric, Howard Industries, Inc., Infineon Technologies AG, Mitsubishi Electric Corporation, Plasma Technics, Inc., Schneider Electric SE, Selco USA, Inc., Siemens AG, SPX Transformer Solutions, Inc., and Varentec, Inc., among others.

The research report titled “Smart Transformers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in dollars for major geographic markets including the US, Canada, Japan, Europe (France, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, South Korea, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, and Rest of Latin America).

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