Top Facts About the Global Smart Transformer Market | Technavio

LONDON–The latest market research report by Technavio on the global smart transformer market predicts a CAGR of more than 15% during the period 2017-2021.

The report segments the global smart transformer market by type (smart distribution transformers and smart power transformers), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global smart transformer market, according to Technavio heavy industry researchers:

  • Renewable power generation capacity expansion: a major market driver
  • In 2016, the smart distribution transformer segment dominated the market owing to growing urbanization in developing countries
  • APAC led the global smart transformer market, with close to 36% of the market in 2016
  • ABB, GE, and Siemens are the leading players in the market

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Market growth analysis

Renewable power generation capacity expansion is one of the major factors driving the global smart transformer market. Most of the major expansion activities are taking place in renewable energy. Many countries are using renewable sources of energy, such as wind and solar energy, to meet stringent carbon emission goals and minimize the dependency on the depleting fossil resources. Many end-users are adopting alternative forms of energy to avoid depending on power generators that operate on fossil fuels. Wind power, solar power, and other forms of renewable energy are gaining popularity among all categories of electricity end-users.

According to Gaurav Mohidru, a lead analyst at Technavio for research on unit operations, “A huge emphasis is being placed on the commercialization of renewable energy worldwide, which will create an increased demand for power and distribution transformers, as most of these renewable energy resources are set up in places that lack proper T&D infrastructure.”

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Geographical analysis

Technavio researchers anticipate high growth for the global smart transformer market in APAC, which holds the major share in the smart transformer market among all the regions. The demand in this region is generated mainly due to rapid demand for electric power in growing economies in APAC countries such as India and China. APAC represents a highly potential market, as renewable energy, network expansion, implementation of smart grids, and transformer replacements are happening or expected to occur on a large-scale during the forecast period. The developed economies in Europe and the Americas will exhibit a demand for these transformers from renovation activities.

Competitive vendor landscape

ABB, GE, and Siemens are the three key vendors that dominate all the three key geographic regions, due to which the global smart transformer market is highly concentrated. The product is relatively new and is in demand globally, especially in the developing regions. Vendors established in the Western markets are now focusing on increasing their market share in the high potential regions, such as APAC, via strategic agreements and mergers and acquisitions. New entrants will find it difficult to compete with the international vendors in terms of quality, design, product features, services, turnaround time, and maintenance of customer relationships.

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About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
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