Smart Transformer Market to Witness Huge Growth by 2021

Edison, NJ -- (SBWire) -- 02/09/2019 --A new research document with title 'Global Smart Transformer Market 2017-2021' covering detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions like North America, Europe or Asia and important players/vendors such as ABB, GE, and Siemens The report will help user gain market insights, future trends and growth prospects for forecast period of 2017-21

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HTF recognizes the following companies as the key players in the global smart transformer market: ABB, GE, and Siemens

Other Prominent Vendors in the market are: BHEL, CG, Eaton, GRIDBRIDGE, GRIDCO SYSTEMS, Howard Industries, Miracle Electronics Devices, Mitsubishi Electric, Schneider Electric, SPX TRANSFORMER SOLUTIONS, and Varentec.

Commenting on the report, an analyst from HTF's team said: "The latest trend gaining momentum in the market is Evolution of smart grids. The rising investment in smart grids in APAC and GCC is currently on the rise because of the increasing demand for electricity in these regions. Though all smart grids do not need be equipped with smart transformers, it is expected that the upcoming smart grids may be equipped with smart transformers to enhance the efficiency. This is expected to fuel the demand for smart transformers."

According to the report, one of the major drivers for this market is Renewable power generation capacity expansion. In 2014, China and the US each comprised about one-fifth of the global power generation capacity. China's capacity is expected to grow by single digits year-over-year till 2035. 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.

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Further, the report states that one of the major factors hindering the growth of this market is High investment needed from a financially weak distribution sector for upgrading networks. The cost of upgrading smart grid systems comprises additional costs, such as the cost of replacement of transmission lines, power delivering systems, substation digitization, distribution systems, and digital controls. Consequently, power utilities and independent power producers (IPPs) are undergoing huge initial capital investments. It is anticipated that the smart grid technology's deployment cost in the US may increase exponentially over the next 20 years. This escalation is expected to stem from aging power infrastructure and the increased need for renewable power grid integration.

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Table of Contents
PART 01: Executive
PART 02: Scope of the report
PART 03: Research methodology
PART 04: Introduction
- Market outline
PART 05: Market landscape
- Market overview
- Market size and forecast
- Global power outlook
- Five forces analysis
PART 06: Market segmentation by type
- Global smart distribution transformers
- Global smart power transformers
PART 07: Regional landscape
- Geographical segmentation
- Regional comparison
- Smart tra

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Thanks for reading this article, you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.

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