At 10+% CAGR, Smart Transformers Market To Hit $2.43 Billion by 2022 Led by Smart Grid Segment
PUNE, India, Oct. 18, 2017 /PRNewswire-iReach/ -- The smart transformers market is projected to grow faster in the Asia Pacific region, especially in China, Japan, and South Korea. The Asia Pacific region is moving toward clean energy on a large scale to meet its growing energy needs in an efficient way. India, China, and Singapore are some of the potential growing markets in the power and utilities sector. Asia Pacific also offered the biggest potential gains for foreign direct investment and attracted 45% of all the capital investment, globally, in 2015.
Browse 65 Market Data Tables and 37 Figures spread through 147 Pages and in-depth TOC on "Smart Transformers Market by Component (Converters, Switches, Transformers, Hardware for Transformer Monitoring), Type (Power, Distribution, Specialty, and Instrument), Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region - Global Forecast to 2022" http://www.rnrmarketresearch.com/smart-transformers-market-by-type-power-distribution-specialty-and-instrument-application-smart-grid-traction-locomotive-electric-vehicle-charging-and-others-by-region-global-trends-forecast-to-2020-market-report.html .
The smart transformers market in Asia Pacific is driven by the increased investments in modernizing infrastructure and urbanizing populations, especially in developing economies such as China and India. The Chinese market was, by far, the largest in the world in terms of infrastructure development in 2015. A rise in investments in smart grid technologies and smart cities that include distribution grid automation, smart meters, and demand response systems in countries, such as Japan, South Korea, and Australia would create opportunities for the smart transformers market.
The prominent players in the smart transformers market include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Eaton (Ireland), and General Electric (US). The leading players are trying to make inroads in the markets in developed economies and are adopting various strategies to increase their market shares.
Inquire for Discount on "Smart Transformers Market - Global Forecast to 2022" research report at http://www.rnrmarketresearch.com/contacts/discount?rname=392900 .
The smart grid segment is expected to have the largest smart transformers market share by 2022. With regard to the end-use application segment, the smart grid segment is expected to constitute the largest market by 2022. One of the biggest uses of a smart transformer in smart grids is its role in integrating power from distributed generation into the main grid. Smart grids have two-way communication for real-time monitoring and controlling of network characteristics.
The distribution transformers to be the fastest growing segment in the smart transformers market. For this, the basic step is the implementation of smart meters for end-user interactions, followed by employing smart transformers in the network to further strengthen communications and avoid power outages. Although smart grids prevent faults and power outages, they are also equipped with self-realization characteristic that allows the network to restore to normal, once the fault is cleared. Due to its application at various end-user points in the smart grid infrastructure, the segment is expected to dominate the market by 2022.
Make an Inquiry on Smart Transformers Marketby Component (Converters, Switches, Transformers, Hardware for Transformer Monitoring), Type (Power, Distribution, Specialty, and Instrument), Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region - Global Forecast to 2022 research report at http://www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=392900 .
The smart transformers market report defines, describes, and forecasts the global smart transformers market by component, type, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues. It also covers various important aspects of the market.
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1 - 43%, Tier 2 - 33%, Tier 3 - 24%
- By Designation: C-Level - 35%, Director Level - 25%, Others - 40%
- By Region: North America - 30%, Asia Pacific - 25%, Europe - 20%, Middle East & Africa - 15%, and South America - 5%
Note: Others includes sales managers, product managers, and design engineers. The tier of the company has been defined on the basis of its total revenue, as of 2013: Tier 1 = > USD 1 billion, Tier 2 = From USD 1 billion to USD 500 million and Tier 3 = < USD 500 million
Another research titled Smart Grid Market Global Forecast to 2022 says, the smart grid market size is estimated to grow from $20.83 billion in 2017 to $50.65 billion by 2022, at a CAGR of 19.4%. Smart grid communication software is expected to have the fastest growth rate during the forecast period. Smart grid sensor is expected to have the fastest growth rate during the forecast period. North America is expected to contribute to the largest market share during the forecast period. Companies such as General Electric Company (New York, US), ABB Ltd. (Zurich, Switzerland), Siemens AG (Munich, Germany), Schneider Electric SA (Rueil-Malmaison, France), Itron, Inc. (Washington, US), Landis+Gyr (Zug, Switzerland), Aclara Technologies LLC (Missouri, US), Cisco Systems, Inc. (California, US), Open Systems International, Inc. (Minnesota, US), IBM Corporation (New York, US), Wipro Ltd. (Karnataka, India), Oracle Corporation (California, US), S&C Electric Company (Illinois, US), Eaton Corporation Plc (Dublin, Ireland), Kamstrup A/S (Skanderborg, Denmark), Trilliant Holdings, Inc. (North Carolina, US), NexGrid, LLC. (Virginia, US), Globema (Warsaw, Poland), Tech Mahindra Ltd. (Maharashtra, India), EnerNOC, Inc. (Massachusetts, US), Fujitsu Ltd. (Tokyo, Japan), Infrax Systems Inc. (Texas, US), Esyasoft Technologies Pvt. Ltd. (Karnataka, India), e-Smart Systems Pvt. Ltd. (Delhi, India), Grid4C (Texas, US) have been profiled in this 177 pages research report available at http://www.rnrmarketresearch.com/contacts/request-sample?rname=1141895 .
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