PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1453864
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1453864
Smart Transformers Market Forecasts to 2030 - Global Analysis By Component, Application, End User and By Geography
According to Stratistics MRC, the Global Smart Transformers Market is accounted for $3.0 billion in 2023 and is expected to reach $6.9 billion by 2030 growing at a CAGR of 12.7% during the forecast period. An essential component of smart grids, smart transformers operate independently to continuously control voltage, keep the grid connected so that remote administration is possible, and deliver data and feedback regarding the power supply. A smart transformer achieves this through a process called voltage optimization. It provides the exact amount of electricity needed and adapts rapidly to changes in the power grid, functioning as a voltage regulator to maintain the optimized voltage.
According to International Energy Agency, in 2021, USD 289 billion was spent on smart grid development, increasing from USD 262.6 billion in 2020.
Market Dynamics:
Driver:
Growing demand for efficient power grids
As urbanization, industrialization, and digitalization continue to expand worldwide, there is a heightened need for electricity to power homes, businesses, and critical infrastructure. Traditional power distribution systems often struggle to handle the complexities of modern energy demands, leading to inefficiencies, voltage fluctuations, and reliability issues. Smart transformers offer a solution by incorporating advanced monitoring, control, and optimization capabilities. These transformers enable utilities and grid operators to enhance grid efficiency, reduce losses, and improve overall reliability.
Restraint:
High initial costs
While these transformers offer advanced monitoring, control, and optimization capabilities, the upfront investment required for their deployment can be substantial. The costs include not only the purchase of smart transformer equipment but also expenses related to installation, integration with existing grid infrastructure, and implementation of communication and monitoring systems. However, for utilities and grid operators, especially those operating on tight budgets or facing financial constraints, the prospect of making such significant investments upfront may act as a deterrent to adopting smart transformer solutions.
Opportunity:
Technological advancements
Innovations in materials, electronics, and communication technologies have revolutionized the capabilities of transformers, enabling them to become smarter, more efficient, and more reliable. Advanced materials such as silicon carbide (SiC) and gallium nitride (GaN) are enhancing the efficiency and power handling capabilities of transformers, reducing losses and improving overall performance. Moreover, the integration of digital monitoring systems, sensors, and sophisticated control algorithms allows smart transformers to provide real-time insights into grid conditions, enabling utilities to optimize operations and enhance grid resilience.
Threat:
Cybersecurity concerns
As integral components of modern grid infrastructure, smart transformers are vulnerable to cyber threats such as hacking, malware, and data breaches. The interconnectedness and digitization of smart grid systems increase their exposure to potential cyber attacks, which could compromise grid reliability, data integrity, and even public safety. Utilities and grid operators must implement robust cybersecurity measures to safeguard smart transformers and the broader grid ecosystem. However, ensuring cybersecurity can be challenging due to the evolving nature of cyber threats, the complexity of smart grid networks, and the need for continuous monitoring and updates to address vulnerabilities.
Covid-19 Impact:
Initially, the market experienced disruptions due to supply chain interruptions, manufacturing delays, and project postponements caused by lockdowns and restrictions on movement. Uncertainty regarding the duration and severity of the pandemic also led to cautious spending among utilities and grid operators, affecting investment decisions in smart grid infrastructure, including smart transformers. However, as the pandemic highlighted the importance of resilient and efficient energy infrastructure, there has been a growing recognition of the role of smart transformers in enhancing grid reliability, enabling remote monitoring, and supporting remote operations and maintenance activities.
The hardware segment is expected to be the largest during the forecast period
Hardware segment commanded the largest share throughout the forecast period. Advancements in materials and electronics have led to the development of more efficient and reliable hardware components for smart transformers, such as advanced semiconductor devices, high-performance transformers, and sensors. Additionally, these technological innovations enable smart transformers to deliver enhanced functionalities, including real-time monitoring, predictive maintenance, and self-healing capabilities, thereby addressing the evolving needs of modern grid infrastructure.
The electric vehicle charging segment is expected to have the highest CAGR during the forecast period
Electric Vehicle Charging segment is poised to hold profitable growth over the projection period as the increasing adoption of electric vehicles globally is leading to a surge in demand for EV charging infrastructure, including fast chargers deployed in public spaces, workplaces, and residential areas. Smart transformers play a crucial role in supporting this infrastructure by efficiently managing the increased electricity demand from EV charging stations, ensuring grid stability, and minimizing overloads. Additionally, smart transformers equipped with advanced monitoring and control capabilities enable utilities to implement dynamic charging strategies, such as demand response and load balancing, to optimize grid operations and accommodate the variable charging patterns of EVs.
Region with largest share:
Due to the growing adoption of renewable energy sources like solar and wind power requires advanced grid technologies for efficient integration, Asia Pacific region commanded the largest share of the market over the extrapolated period. Smart transformers facilitate smooth integration of renewable energy into the grid by managing voltage fluctuations and ensuring grid stability. Many countries are dealing with aging power grid infrastructure, leading to issues such as frequent outages and voltage fluctuations. These factors are boosting the regional growth.
Region with highest CAGR:
North America region is projected to witness substantial growth during the estimated time frame as the growing adoption of electric vehicles is placing additional strain on existing power infrastructure. Smart transformers can support the charging infrastructure for EVs by managing the increased demand for electricity in an efficient and reliable manner. The market is driven by the power industry's growing digitalization and the growing need to strengthen the grid. Furthermore, North American nations are concentrating on modifying, substituting, and extending their outdated grid infrastructure in order to enhance the grid's energy efficiency, monitoring, and power quality.
Key players in the market
Some of the key players in Smart Transformers market include ABB Ltd, CG Power and Industrial Solutions Limited, Eaton Corporation PLC, GE Power, General Electric Company, Hitachi Ltd, KONCAR - Electrical Industry Inc, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG and SPX Transformer Solutions Inc.
Key Developments:
In April 2023, Eaton invests $500+ million in North American manufacturing, boosting essential technology capacity for infrastructure projects, specifically transformers. Signifying a significant step in strengthening regional manufacturing capabilities.
In February 2022, the Indian state government of Madhya Pradesh was set to expand and modernize its electricity network by deploying smart meters and smart grid technologies using EUR 140 million secured from German bank KfW. The modernization of the smart grid is expected to include all facets of technologies, including smart transformers.
Components Covered:
- Hardware
- Switches
- Converters
- Substation Automation Tools
- Other Components
Applications Covered:
- Electric Vehicle Charging
- Smart Grid
- Other Applications
End Users Covered:
- Commercial
- Industrial
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 End User Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Smart Transformers Market, By Component
- 5.1 Introduction
- 5.2 Hardware
- 5.3 Switches
- 5.3.1 Power Diodes
- 5.3.2 Silicon Carbide (SIC) Power Mosfets
- 5.4 Converters
- 5.4.1 AC to AC Converters
- 5.4.2 DC to AC Converters
- 5.4.3 DC to DC Converters
- 5.4.4 AC to DC Converters
- 5.5 Substation Automation Tools
- 5.6 Other Components
6 Global Smart Transformers Market, By Application
- 6.1 Introduction
- 6.2 Electric Vehicle Charging
- 6.3 Smart Grid
- 6.4 Other Applications
7 Global Smart Transformers Market, By End User
- 7.1 Introduction
- 7.2 Commercial
- 7.3 Industrial
- 7.4 Other End Users
8 Global Smart Transformers Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.8 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 ABB Ltd
- 10.2 CG Power and Industrial Solutions Limited
- 10.3 Eaton Corporation PLC
- 10.4 GE Power
- 10.5 General Electric Company
- 10.6 Hitachi Ltd
- 10.7 KONCAR - Electrical Industry Inc
- 10.8 Mitsubishi Electric Corporation
- 10.9 Schneider Electric SE
- 10.10 Siemens AG
- 10.11 SPX Transformer Solutions Inc.
List of Tables
- Table 1 Global Smart Transformers Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Smart Transformers Market Outlook, By Component (2021-2030) ($MN)
- Table 3 Global Smart Transformers Market Outlook, By Hardware (2021-2030) ($MN)
- Table 4 Global Smart Transformers Market Outlook, By Switches (2021-2030) ($MN)
- Table 5 Global Smart Transformers Market Outlook, By Power Diodes (2021-2030) ($MN)
- Table 6 Global Smart Transformers Market Outlook, By Silicon Carbide (SIC) Power Mosfets (2021-2030) ($MN)
- Table 7 Global Smart Transformers Market Outlook, By Converters (2021-2030) ($MN)
- Table 8 Global Smart Transformers Market Outlook, By AC to AC Converters (2021-2030) ($MN)
- Table 9 Global Smart Transformers Market Outlook, By DC to AC Converters (2021-2030) ($MN)
- Table 10 Global Smart Transformers Market Outlook, By DC to DC Converters (2021-2030) ($MN)
- Table 11 Global Smart Transformers Market Outlook, By AC to DC Converters (2021-2030) ($MN)
- Table 12 Global Smart Transformers Market Outlook, By Substation Automation Tools (2021-2030) ($MN)
- Table 13 Global Smart Transformers Market Outlook, By Other Components (2021-2030) ($MN)
- Table 14 Global Smart Transformers Market Outlook, By Application (2021-2030) ($MN)
- Table 15 Global Smart Transformers Market Outlook, By Electric Vehicle Charging (2021-2030) ($MN)
- Table 16 Global Smart Transformers Market Outlook, By Smart Grid (2021-2030) ($MN)
- Table 17 Global Smart Transformers Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 18 Global Smart Transformers Market Outlook, By End User (2021-2030) ($MN)
- Table 19 Global Smart Transformers Market Outlook, By Commercial (2021-2030) ($MN)
- Table 20 Global Smart Transformers Market Outlook, By Industrial (2021-2030) ($MN)
- Table 21 Global Smart Transformers Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 22 North America Smart Transformers Market Outlook, By Country (2021-2030) ($MN)
- Table 23 North America Smart Transformers Market Outlook, By Component (2021-2030) ($MN)
- Table 24 North America Smart Transformers Market Outlook, By Hardware (2021-2030) ($MN)
- Table 25 North America Smart Transformers Market Outlook, By Switches (2021-2030) ($MN)
- Table 26 North America Smart Transformers Market Outlook, By Power Diodes (2021-2030) ($MN)
- Table 27 North America Smart Transformers Market Outlook, By Silicon Carbide (SIC) Power Mosfets (2021-2030) ($MN)
- Table 28 North America Smart Transformers Market Outlook, By Converters (2021-2030) ($MN)
- Table 29 North America Smart Transformers Market Outlook, By AC to AC Converters (2021-2030) ($MN)
- Table 30 North America Smart Transformers Market Outlook, By DC to AC Converters (2021-2030) ($MN)
- Table 31 North America Smart Transformers Market Outlook, By DC to DC Converters (2021-2030) ($MN)
- Table 32 North America Smart Transformers Market Outlook, By AC to DC Converters (2021-2030) ($MN)
- Table 33 North America Smart Transformers Market Outlook, By Substation Automation Tools (2021-2030) ($MN)
- Table 34 North America Smart Transformers Market Outlook, By Other Components (2021-2030) ($MN)
- Table 35 North America Smart Transformers Market Outlook, By Application (2021-2030) ($MN)
- Table 36 North America Smart Transformers Market Outlook, By Electric Vehicle Charging (2021-2030) ($MN)
- Table 37 North America Smart Transformers Market Outlook, By Smart Grid (2021-2030) ($MN)
- Table 38 North America Smart Transformers Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 39 North America Smart Transformers Market Outlook, By End User (2021-2030) ($MN)
- Table 40 North America Smart Transformers Market Outlook, By Commercial (2021-2030) ($MN)
- Table 41 North America Smart Transformers Market Outlook, By Industrial (2021-2030) ($MN)
- Table 42 North America Smart Transformers Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 43 Europe Smart Transformers Market Outlook, By Country (2021-2030) ($MN)
- Table 44 Europe Smart Transformers Market Outlook, By Component (2021-2030) ($MN)
- Table 45 Europe Smart Transformers Market Outlook, By Hardware (2021-2030) ($MN)
- Table 46 Europe Smart Transformers Market Outlook, By Switches (2021-2030) ($MN)
- Table 47 Europe Smart Transformers Market Outlook, By Power Diodes (2021-2030) ($MN)
- Table 48 Europe Smart Transformers Market Outlook, By Silicon Carbide (SIC) Power Mosfets (2021-2030) ($MN)
- Table 49 Europe Smart Transformers Market Outlook, By Converters (2021-2030) ($MN)
- Table 50 Europe Smart Transformers Market Outlook, By AC to AC Converters (2021-2030) ($MN)
- Table 51 Europe Smart Transformers Market Outlook, By DC to AC Converters (2021-2030) ($MN)
- Table 52 Europe Smart Transformers Market Outlook, By DC to DC Converters (2021-2030) ($MN)
- Table 53 Europe Smart Transformers Market Outlook, By AC to DC Converters (2021-2030) ($MN)
- Table 54 Europe Smart Transformers Market Outlook, By Substation Automation Tools (2021-2030) ($MN)
- Table 55 Europe Smart Transformers Market Outlook, By Other Components (2021-2030) ($MN)
- Table 56 Europe Smart Transformers Market Outlook, By Application (2021-2030) ($MN)
- Table 57 Europe Smart Transformers Market Outlook, By Electric Vehicle Charging (2021-2030) ($MN)
- Table 58 Europe Smart Transformers Market Outlook, By Smart Grid (2021-2030) ($MN)
- Table 59 Europe Smart Transformers Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 60 Europe Smart Transformers Market Outlook, By End User (2021-2030) ($MN)
- Table 61 Europe Smart Transformers Market Outlook, By Commercial (2021-2030) ($MN)
- Table 62 Europe Smart Transformers Market Outlook, By Industrial (2021-2030) ($MN)
- Table 63 Europe Smart Transformers Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 64 Asia Pacific Smart Transformers Market Outlook, By Country (2021-2030) ($MN)
- Table 65 Asia Pacific Smart Transformers Market Outlook, By Component (2021-2030) ($MN)
- Table 66 Asia Pacific Smart Transformers Market Outlook, By Hardware (2021-2030) ($MN)
- Table 67 Asia Pacific Smart Transformers Market Outlook, By Switches (2021-2030) ($MN)
- Table 68 Asia Pacific Smart Transformers Market Outlook, By Power Diodes (2021-2030) ($MN)
- Table 69 Asia Pacific Smart Transformers Market Outlook, By Silicon Carbide (SIC) Power Mosfets (2021-2030) ($MN)
- Table 70 Asia Pacific Smart Transformers Market Outlook, By Converters (2021-2030) ($MN)
- Table 71 Asia Pacific Smart Transformers Market Outlook, By AC to AC Converters (2021-2030) ($MN)
- Table 72 Asia Pacific Smart Transformers Market Outlook, By DC to AC Converters (2021-2030) ($MN)
- Table 73 Asia Pacific Smart Transformers Market Outlook, By DC to DC Converters (2021-2030) ($MN)
- Table 74 Asia Pacific Smart Transformers Market Outlook, By AC to DC Converters (2021-2030) ($MN)
- Table 75 Asia Pacific Smart Transformers Market Outlook, By Substation Automation Tools (2021-2030) ($MN)
- Table 76 Asia Pacific Smart Transformers Market Outlook, By Other Components (2021-2030) ($MN)
- Table 77 Asia Pacific Smart Transformers Market Outlook, By Application (2021-2030) ($MN)
- Table 78 Asia Pacific Smart Transformers Market Outlook, By Electric Vehicle Charging (2021-2030) ($MN)
- Table 79 Asia Pacific Smart Transformers Market Outlook, By Smart Grid (2021-2030) ($MN)
- Table 80 Asia Pacific Smart Transformers Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 81 Asia Pacific Smart Transformers Market Outlook, By End User (2021-2030) ($MN)
- Table 82 Asia Pacific Smart Transformers Market Outlook, By Commercial (2021-2030) ($MN)
- Table 83 Asia Pacific Smart Transformers Market Outlook, By Industrial (2021-2030) ($MN)
- Table 84 Asia Pacific Smart Transformers Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 85 South America Smart Transformers Market Outlook, By Country (2021-2030) ($MN)
- Table 86 South America Smart Transformers Market Outlook, By Component (2021-2030) ($MN)
- Table 87 South America Smart Transformers Market Outlook, By Hardware (2021-2030) ($MN)
- Table 88 South America Smart Transformers Market Outlook, By Switches (2021-2030) ($MN)
- Table 89 South America Smart Transformers Market Outlook, By Power Diodes (2021-2030) ($MN)
- Table 90 South America Smart Transformers Market Outlook, By Silicon Carbide (SIC) Power Mosfets (2021-2030) ($MN)
- Table 91 South America Smart Transformers Market Outlook, By Converters (2021-2030) ($MN)
- Table 92 South America Smart Transformers Market Outlook, By AC to AC Converters (2021-2030) ($MN)
- Table 93 South America Smart Transformers Market Outlook, By DC to AC Converters (2021-2030) ($MN)
- Table 94 South America Smart Transformers Market Outlook, By DC to DC Converters (2021-2030) ($MN)
- Table 95 South America Smart Transformers Market Outlook, By AC to DC Converters (2021-2030) ($MN)
- Table 96 South America Smart Transformers Market Outlook, By Substation Automation Tools (2021-2030) ($MN)
- Table 97 South America Smart Transformers Market Outlook, By Other Components (2021-2030) ($MN)
- Table 98 South America Smart Transformers Market Outlook, By Application (2021-2030) ($MN)
- Table 99 South America Smart Transformers Market Outlook, By Electric Vehicle Charging (2021-2030) ($MN)
- Table 100 South America Smart Transformers Market Outlook, By Smart Grid (2021-2030) ($MN)
- Table 101 South America Smart Transformers Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 102 South America Smart Transformers Market Outlook, By End User (2021-2030) ($MN)
- Table 103 South America Smart Transformers Market Outlook, By Commercial (2021-2030) ($MN)
- Table 104 South America Smart Transformers Market Outlook, By Industrial (2021-2030) ($MN)
- Table 105 South America Smart Transformers Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 106 Middle East & Africa Smart Transformers Market Outlook, By Country (2021-2030) ($MN)
- Table 107 Middle East & Africa Smart Transformers Market Outlook, By Component (2021-2030) ($MN)
- Table 108 Middle East & Africa Smart Transformers Market Outlook, By Hardware (2021-2030) ($MN)
- Table 109 Middle East & Africa Smart Transformers Market Outlook, By Switches (2021-2030) ($MN)
- Table 110 Middle East & Africa Smart Transformers Market Outlook, By Power Diodes (2021-2030) ($MN)
- Table 111 Middle East & Africa Smart Transformers Market Outlook, By Silicon Carbide (SIC) Power Mosfets (2021-2030) ($MN)
- Table 112 Middle East & Africa Smart Transformers Market Outlook, By Converters (2021-2030) ($MN)
- Table 113 Middle East & Africa Smart Transformers Market Outlook, By AC to AC Converters (2021-2030) ($MN)
- Table 114 Middle East & Africa Smart Transformers Market Outlook, By DC to AC Converters (2021-2030) ($MN)
- Table 115 Middle East & Africa Smart Transformers Market Outlook, By DC to DC Converters (2021-2030) ($MN)
- Table 116 Middle East & Africa Smart Transformers Market Outlook, By AC to DC Converters (2021-2030) ($MN)
- Table 117 Middle East & Africa Smart Transformers Market Outlook, By Substation Automation Tools (2021-2030) ($MN)
- Table 118 Middle East & Africa Smart Transformers Market Outlook, By Other Components (2021-2030) ($MN)
- Table 119 Middle East & Africa Smart Transformers Market Outlook, By Application (2021-2030) ($MN)
- Table 120 Middle East & Africa Smart Transformers Market Outlook, By Electric Vehicle Charging (2021-2030) ($MN)
- Table 121 Middle East & Africa Smart Transformers Market Outlook, By Smart Grid (2021-2030) ($MN)
- Table 122 Middle East & Africa Smart Transformers Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 123 Middle East & Africa Smart Transformers Market Outlook, By End User (2021-2030) ($MN)
- Table 124 Middle East & Africa Smart Transformers Market Outlook, By Commercial (2021-2030) ($MN)
- Table 125 Middle East & Africa Smart Transformers Market Outlook, By Industrial (2021-2030) ($MN)
- Table 126 Middle East & Africa Smart Transformers Market Outlook, By Other End Users (2021-2030) ($MN)
