Industry Background:
Smart transformer is a solid state transformer which control power distribution networks. Depending upon the need, this transformer converts alternative current into direct current and vice-versa. Amid growing power distribution and rising wastage smart transformer provide prove to be a perfect solution as it provides the exact amount of power that is needs.This growth is primarily driven by Growing Power Transmission, Distribution and Consumption
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Electrical Components & Equipment sector in the Asia Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as ABB (Switzerland), Siemens AG (Germany), Alstom S.A (France), Bharat Heavy Electricals Limited (India), General Electric (United States), Mitsubishi Electric Power Products, Inc (United States) and SPX Transformer Solutions, Inc (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In Dec 2023 ABB today announced the acquisition of Eve Systems GmbH, a Munich-based leader of smart home products with operations in Europe and the United States. The transaction will make ABB a leader in smart home products based on Matter and Thread, the new interoperating standard and wireless connectivity technology. The combined offer will accelerate ABB’s delivery of safe, smart and energy efficient homes and buildings through Eve’s extended complementary range of consumer-facing products tailored to the retrofit market. Financial terms of the transaction were not disclosed.
In February 2021Hitachi ABB Power Grids has announced the launch of its Smart Digital Substation, with the unique predictive, prescriptive and prognostic capabilities of Hitachi’s industry leading Lumad Asset Performance Management (APM) solution.smart power transformer market has the presence of few international vendors. The established vendors in Western Europe are focusing on expanding their market shares in highly potential regions such as APAC through strategic agreements and M&As.
Influencing Trend:
Growing Adoption of Distributed Energy Resources and Rising Automation in Power and Energy Sectors
Market Growth Drivers:
Growing Power Transmission, Distribution and Consumption and Ability of Smart Transformers to Prevent Faults and Power Outages
Challenges:
Low Budgets on Power Distribution and Transmission in Emerging Countries and Complexity Involved in Integration of Different Services
Restraints:
High Initial Capital Investment Involved
Opportunities:
Increasing Demand for Electricity in Emerging Countries and Rising Urbanization and Industrialization Worldwide
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Smart Transformers Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Smart Transformers Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Smart Transformers players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Smart Transformers Study Sheds Light on
The Smart Transformers Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Smart Transformers industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart Transformers industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.