Smart Transformer Market Report: Trends, Forecast and Competitive Analysis to 2030

Smart Transformer Trends and Forecast

The future of the global smart transformer market looks promising with opportunities in the smart grid, traction locomotive, and electric vehicle charging applications. The global smart transformer market is expected to reach an estimated $4.4 billion by 2030 with a CAGR of 10.5% from 2024 to 2030. The major drivers for this market are increasing demand for smart grids and rapid digitization in power industry.

A more than 150-page report is developed to help in your business decisions.

Smart Transformer by Segment

The study includes a forecast for the global smart transformer by type, component, application, and region.

Smart Transformer Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Power
• Distribution
• Specialty
• Instrument

Smart Transformer Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Converters
• Switches
• Transformers
• Hardware for Transformer Monitoring
• Others

Smart Transformer Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Smart Grid
• Traction Locomotive
• Electric Vehicle Charging
• Others

Smart Transformer Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Smart Transformer Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies smart transformer companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the smart transformer companies profiled in this report include-

• ABB
• GE
• Siemens
• Schneider Electric
• Eaton
• Wilson Transformer
• Mitsubishi Electric
• BHEL
• CG Power
• Gridco

Smart Transformer Market Insights

Lucintel forecasts that power transformer is expected to witness highest growth over the forecast period due to its efficient and reliable transmission and distribution of electricity.

Within this market, smart grid will remain the largest segment due to its widespread usage to improve the efficiency of power transmission and distribution.

APAC is expected to witness highest growth over the forecast period due to rapid population growth, availability of affordable power grids, and rising investment in intelligent power grid projects in the region.

Features of the Global Smart Transformer Market

Market Size Estimates: Smart transformer market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Smart transformer market size by type, component, application, and region in terms of value ($B).

Regional Analysis: Smart transformer market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, components, applications, and regions for the smart transformer market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the smart transformer market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the smart transformer market size?

Answer: The global smart transformer market is expected to reach an estimated $4.4 billion by 2030.

Q2. What is the growth forecast for smart transformer market?

Answer: The global smart transformer market is expected to grow with a CAGR of 10.5% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the smart transformer market?

Answer: The major drivers for this market are increasing demand for smart grids and rapid digitization in power industry.

Q4. What are the major segments for smart transformer market?

Answer: The future of the smart transformer market looks promising with opportunities in the smart grid, traction locomotive, and electric vehicle charging applications.

Q5. Who are the key smart transformer market companies?

Answer: Some of the key smart transformer companies are as follows:

• ABB
• GE
• Siemens
• Schneider Electric
• Eaton
• Wilson Transformer
• Mitsubishi Electric
• BHEL
• CG Power
• Gridco

Q6. Which smart transformer market segment will be the largest in future?

Answer: Lucintel forecasts that power transformer is expected to witness highest growth over the forecast period due to its efficient and reliable transmission and distribution of electricity.

Q7. In smart transformer market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to rapid population growth, availability of affordable power grids, and rising investment in intelligent power grid projects in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the smart transformer market by type (power, distribution, specialty, and instrument), component (converters, switches, transformers, hardware for transformer monitoring, and others), application (smart grid, traction locomotive, electric vehicle charging, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?