Smart Transformers Market Set to Grow Exponentially During 2014-2020
Smart transformer is also known as solid state transformer. Smart transformer controls power distribution networks. It makes possible the conversion of AC to DC and DC to AC, as per requirement. Smart transformer (ST) provides the exact amount of power that is needed, and responds instantly to fluctuations within the power grid, acting as a voltage regulator to ensure that the optimized voltage is undisturbed. Smart transformer facilitates appliances to exhibit optimum efficiency as well as they last longer and use less power.
The smart transformer market is primarily driven by rising demand for power consumption, transmission & distribution networks across the globe. However, the need to improve efficiency of grids along with reduction in wastage of electricity is expected to drive the market growth. Increasing adoption of renewable power sources, such as wind & solar energy, traction locomotives, are major factors boosting the adoption of smart transformers. However, high cost of smart transformers and inadequate testing infrastructure can lower down the growth of market.
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The report covers forecast and analysis for the smart transformers market on a global and regional level. The study provides historic data of 2014 along with a forecast from 2014 to 2020 based on revenue (USD Million). The report also offers detailed competitive landscape of the global smart transformers market. It includes company market share analysis, product portfolio of the major industry participants.
The global smart transformers market is segmented on the basis of product types, applications and regions. Smart transformers market is segmented based on product type as power, distribution, specialty, and instrument. Smart grid, traction locomotive, electric vehicle charging, and others are key application segments of global smart transformers market.
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The report provides a comprehensive view on the smart transformers market we have included a detailed value chain analysis. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the smart transformers market has also been included. The study encompasses a market attractiveness analysis, wherein application segments are benchmarked based on their market size, growth rate and general attractiveness.
Application segments have been analyzed based on historic, present, and future trends, and the market has been estimated from 2015 to 2020 in terms of revenue (USD Million). Regional segmentation includes the current and forecast demand of APAO for hot melt in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA).
Out of all the regional segments of the global market, Asia Pacific will hold the dominant share in the overall smart transformers market across the globe. This dominance is majorly witnessed due to the increasing demand of power and upgradation in transmission and distribution infrastructure of smart grids. Asia-Pacific have high industrialization urbanization rate. However, North America and Europe region exhibits aging power infrastructure.
Some of the key player operative in global smart transformers market includes Siemens AG, ABB Ltd., General Electric, Eaton Corporation, Alstom, Schneider Electric, and Crompton Greaves among others.
This report segments the global smart transformers market as follows:
Global Smart Transformers Market: Product Segment Analysis
- Power Transformer
- Distribution Transformer
- Specialty Transformer
- Instrument Transformer
Global Smart Transformers Market: Application Segment Analysis
- Traction Locomotive
- Smart Grid
- Electric Vehicle Charging
Global Smart Transformers Market: Regional Segment Analysis
- North America
- Latin America
- Middle East & Africa
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