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Report
Global Smart Transformer Market
Market Research Report I 2023-11-09 I 73 Pages I BCC Research
Description
Report Scope:
This report analyzes different ongoing technologies and their feasibility at present. The report covers various segments by transformer type, component, application, and regional market development of the smart transformer market. Furthermore, we sub-segmented the regional market analysis by major countries in this report, such as the U.S., China, Germany, India, and others, where the opportunities for installing smart transformers are lucrative.
The study is prepared in a simple, easy-to-understand format; tables and figures are included to illustrate historical, current, and future market scenarios. The report also covers leading companies with information on product portfolios, global headquarters addresses, and more. We have also included a list of other companies in the global market. Also, the report consists of a patent analysis for the smart transformer market, representing a significant investment area for investors.
In this report, 2022 is used as the market's base year, estimated values are provided for 2023, and the market values are forecast from 2023 to 2028. All market values are provided in millions of dollars, and market shares and CAGRs are provided in percentages.
Report Includes:
- An overview of the current and future global markets for smart transformers in the energy industry
- Analyses of the global market trends, with historical market revenue data (sales figures) for 2022, estimates for 2023, forecasts for 2024 and 2026, and projections of compound annual growth rates (CAGRs) through 2028.
- Estimates of the market size and revenue forecasts for the global market in USD millions, and a corresponding analysis of market share based on transformer type, component, application and region
- Discussion of the major factors influencing the growth of this market with respect to opportunities and challenges, upcoming grid technologies, future demand for smart transformers, regulations and contributions to the overall market
- Insights into the value chain of the smart transformer market, providing a study of the key intermediaries, with emphasis on energy sources, manufacturers, distributors and major types of end users
- An evaluation of the importance of ESG sustainability in the smart transformer market, including consumer attitudes, impact of ESG factors on corporate performance and the ESG practices of leading companies
- Overview of the major vendors in the global market along with an analysis of the industry structure, including company market shares, M&A and venture funding
- Profiles of the leading global players
Executive Summary
Summary:
The smart transformer is an integral part of the smart grid that works independently to regulate voltage and maintain contact with the smart grid to control it remotely. Transformers include multiple intelligent electronic devices or control systems, which can assess the condition of the transformer system and make intelligent recommendations based on design and component data. The changing dynamics of the power market across the globe have accelerated the demand for advancement in transformer technology. The complexity of the grid has increased the need for smarter and more efficient electrical components with the rapid growth in the generation, transmission, and distribution sectors.
The growing penetration of renewable energy sources and the need to reduce transmission and distribution losses to address grid security and consumer safety concerns have emerged the need for smart transformers. The key factors attributed to the market growth are aging power infrastructure and increasing investment in grid modernization projects. Also, technological advancements create new business prospects for integrating smarter technologies in the transformer. In addition, the growing demand for electric vehicles (EVs) has initiated the need for charging infrastructure. The EVs use DC power sources, which has created potential opportunities for deploying smart transformers, which helps drive the market growth.
Technological advancements such as digitalization in the power industry, emerging artificial intelligence (AI), and edge-to-cloud technologies create new business prospects for deploying smarter infrastructure. Renewable energy has fluctuations in supply and performance, leading to voltage and frequency uncertainty. Hence, real-time analysis helps offset fluctuations and control load balance, and digitization maintains a consistent and reliable energy network. Digitally integrated transformers offer several benefits, such as advanced real-time monitoring and control, predictive maintenance and outage prevention, automated energy optimization, and improved cybersecurity. Hence, the growing adoption of smart transformers by utilities and industries will pay off significantly in the short and long term.
Smart transformers can help large commercial facilities use power more wisely to save power and achieve greener targets. A smart transformer provides the required power and responds instantly to fluctuations within the power grid, acting as a voltage regulator to ensure the optimized voltage is undisturbed. Smart transformers are used in various applications such as locomotives and other traction systems, smart grids, DC sources for the EV industry, integration with other systems, and applications between generation sources & distribution grids. Hence, the wide-scope application of smart transformer technology is igniting the demand over the forthcoming years.
Table of Contents
Chapter 1 Introduction
Study Goals and Objectives
Reasons for Doing This Study
Scope of Report
Research Methodology
Information Sources
Geographic Breakdown
Market Breakdown
Chapter 2 Summary and Highlights
Market Outlook
Market Summary
Chapter 3 Market Overview
Overview
Market Dynamics
Market Drivers
Market Challenges
Patent Analysis
Overview
Chapter 4 Market Breakdown by Transformer Type, Component, and Application
Market for Smart Transformers, by Transformer Type
Power Transformers
Distribution Transformers
Specialty Transformers
Instrument Transformers
Market for Smart Transformers, by Component
Converter
Switches
High-Frequency Transformers
Transformer Monitoring Hardware
Others
Market for Smart Transformers, by Application
Smart Electrical Grid
Locomotive Traction Systems
EV Charging
Others
Chapter 5 Global Market by Region
Global Market for Smart Transformers, by Region
North America
Europe
Asia-Pacific
Rest of World
Chapter 6 Sustainability in Smart Transformer Industry: An ESG Perspective
Overview
Environment Impact
Social Impact
Government Impact
Current Status of ESG in the Market for Smart Transformers
Concluding Remarks from BCC Research
Chapter 7 Competitive Landscape
Overview
Market Ranking Analysis
Key Developments
Chapter 8 Company Profiles
Overview
CG POWER & INDUSTRIAL SOLUTIONS LTD.
GENERAL ELECTRIC CO.
HITACHI ENERGY LTD.
MASCHINENFABRIK REINHAUSEN GMBH
MITSUBISHI ELECTRIC CORP.
ORMAZABAL ELECTRIC, S.L.U.
SCHNEIDER ELECTRIC
SIEMENS AG
TOSHIBA CORP.
WILSON TRANSFORMER CO., PVT. LTD.
List of Emerging Players
List of Small Players
Industry Organizations
Chapter 9 Appendix: Acronyms
List of Tables
Summary Table : Global Market for Smart Transformers, by Region, Through 2028
Table 1 : Patents Published on Smart Transformers, 2021-2023
Table 2 : Global Market for Smart Transformers, by Transformer Type, Through 2028
Table 3 : Global Market for Smart Transformers, by Component, Through 2028
Table 4 : Global Market for Smart Transformers, by Application, Through 2028
Table 5 : Global Market for Smart Transformers, by Region, Through 2028
Table 6 : North American Market for Smart Transformers, by Country, Through 2028
Table 7 : North American Market for Smart Transformers, by Transformer Type, Through 2028
Table 8 : North American Market for Smart Transformers, by Component, Through 2028
Table 9 : North American Market for Smart Transformers, by Application, Through 2028
Table 10 : European Market for Smart Transformers, by Country, Through 2028
Table 11 : European Market for Smart Transformers, by Transformer Type, Through 2028
Table 12 : European Market for Smart Transformers, by Component, Through 2028
Table 13 : European Market for Smart Transformers, by Application, Through 2028
Table 14 : Asia-Pacific Market for Smart Transformers, by Country, Through 2028
Table 15 : Asia-Pacific Market for Smart Transformers, by Transformer Type, Through 2028
Table 16 : Asia-Pacific Market for Smart Transformers, by Component, Through 2028
Table 17 : Asia-Pacific Market for Smart Transformers, by Application, Through 2028
Table 18 : Rest of World Market for Smart Transformers, by Subregion, Through 2028
Table 19 : Rest of World Market for Smart Transformers, by Transformer Type, Through 2028
Table 20 : Rest of World Market for Smart Transformers, by Component, Through 2028
Table 21 : Rest of World Market for Smart Transformers, by Application, Through 2028
Table 22 : ESG Rating of the Smart Transformer Providers
Table 23 : Market Ranking Analysis for Top Smart Transformer Players in the Global Market, 2022
Table 24 : Developments in the Market for Smart Transformers, January 2022 to September 2023
Table 25 : CG Power & Industrial Solutions Ltd.: Product Offering
Table 26 : General Electric Co.: Product Offering
Table 27 : Hitachi Energy Ltd.: Product Offering
Table 28 : Maschinenfabrik Reinhausen GmbH: Product Offering
Table 29 : Mitsubishi Electric Corp.: Product Offering
Table 30 : Ormazabal Electric S.L.U.: Product Offering
Table 31 : Schneider Electric: Product Offering
Table 32 : Siemens AG: Product Offering
Table 33 : Toshiba Corp.: Product Offering
Table 34 : Wilson Transformer Co.: Product Offering
Table 35 : List of Emerging Players in the Market for Smart Transformers
Table 36 : List of Small Players in the Market for Smart Transformers
Table 37 : List of Resources Used for Market for Smart Transformers
Table 38 : Acronyms and Abbreviations Used in This Report
List of Figures
Figure A : Information Sources
Summary Figure : Global Market Shares of Smart Transformers, by Region, 2022
Figure 1 : Capacity Addition of Renewable Energy, 2019-2027
Figure 2 : Global Investment in Modernizing Electricity Grids, 2017-2022
Figure 3 : Global Investments in Digital Infrastructure, 2017-2022
Figure 4 : Global Distribution of Patents on Smart Transformers, by Region, 2022
Figure 5 : Global Market Shares of Smart Transformers, by Transformer Type, 2022
Figure 6 : Global Market Shares of Smart Transformers, by Transformer Type, 2028
Figure 7 : Global Market Shares of Smart Transformers, by Component, 2022
Figure 8 : Global Market Shares of Smart Transformers, by Component, 2028
Figure 9 : Global Market Shares of Smart Transformers, by Application, 2022
Figure 10 : Global Market Shares of Smart Transformers, by Application, 2028
Figure 11 : Global Market for Smart Transformers, by Region
Figure 12 : Global Market Shares of Smart Transformers, by Region, 2022
Figure 13 : Global Market Shares of Smart Transformers, by Region, 2028
Figure 14 : North American Market Shares of Smart Transformers, by Country, 2022
Figure 15 : North American Market Shares of Smart Transformers, by Country, 2028
Figure 16 : North American Market Shares of Smart Transformers, by Transformer Type, 2022
Figure 17 : North American Market Shares of Smart Transformers, by Component, 2022
Figure 18 : North American Market Shares of Smart Transformers, by Application, 2022
Figure 19 : European Market Shares of Smart Transformers, by Country, 2022
Figure 20 : European Market Shares of Smart Transformers, by Country, 2028
Figure 21 : European Market Shares of Smart Transformers, by Transformer Type, 2022
Figure 22 : European Market Shares of Smart Transformers, by Component, 2022
Figure 23 : European Market Shares of Smart Transformers, by Application, 2022
Figure 24 : Asia-Pacific Market Shares of Smart Transformers, by Country, 2022
Figure 25 : Asia-Pacific Market Shares of Smart Transformers, by Country, 2028
Figure 26 : Asia-Pacific Market Shares of Smart Transformers, by Transformer Type, 2022
Figure 27 : Asia-Pacific Market Shares of Smart Transformers, by Component, 2022
Figure 28 : Asia-Pacific Market Shares of Smart Transformers, by Application, 2022
Figure 29 : Rest of World Market Shares of Smart Transformers, by Subregion, 2022
Figure 30 : Rest of World Market Shares of Smart Transformers, by Subregion, 2028
Figure 31 : Rest of World Market Shares of Smart Transformers, by Transformer Type, 2022
Figure 32 : Rest of World Market Shares of Smart Transformers, by Component, 2022
Figure 33 : Rest of World Market Shares of Smart Transformers, by Application, 2022
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