Global Smart Transformers Market is marked to project remarkable expansion at a CAGR of 11.5% during the forecast period of 2019-2023
Pune, India – February 12, 2019 —
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: 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.), and 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), and Ormazabal (Spain) and others. 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: 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: Segmental Analysis
• Power Transformers
• Distribution Transformers
• Specialty Transformers
• Instrument Transformers
• Traction Locomotive
• Smart Grid
• Electric Vehicle Charging
Global Smart Transformers Market: Regional Analysis
Geographically, the global smart transformers market has been segmented into four major regions such as North America, Europe, Asia Pacific and the rest of the world. Rapid growth of power sector as a result of increased energy demand due to rapid urbanization, industrialization, and population growth is leading to the substantial expansion of the smart transformers market in the North America region. Rapid technological advancement and increased adoption of technologically advanced solutions in various industrial sectors are also propelling the growth of the smart transformers market in this region. Increased investment for industrial development and reconstruction of the aging infrastructures are leading to the noteworthy expansion of the smarty transformers market in the Europe region. High energy demand caused due to rapid rise in population, expansion of communication industry and rapid industrialization and urbanization in emerging economies are contributing to the fastest growth of the smart transformers market in the Asia Pacific region. Increased incorporation of technologically advanced devices in the energy and power sector are also fueling the growth of the smart transformers market in this region.
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TABLE OF CONTENT
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.3 Research Process
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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