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  • Power transformer market to exceed $35B by 2024
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  • BSES installs oil-free transformer atop a platform in Delhi
  • CU to replace three aged transformers in East Cleveland
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  • New medium voltage transformers market report
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  • Transformer replacements planned in Medicine Hat
  • Indian transformer manufacturer to open a plant in Zambia
  • SA manufacturer to deliver transformers for a tin mine in Congo
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  • Tamil Nadu government sends 256 transformers to Kerala
  • SNC-Lavalin and ABB form new Joint Venture
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    Smart Transformers Global Market Outlook 2022

    2017/8/9 14:47:08

    Smart Transformers Global Market Outlook 2022

     

    According to the Stratistics MRC publication "Smart Transformer Types and Applications - Global Market Outlook (2015-2022)", the global smart transformer market reached $ 1,093.35 million in 2015 and is expected to reach $ 2,923.4 million by 2022, with an average annual compound growth rate For 15.1%) ".

     

    Increasing demand for electricity, improving & evolving technology, growing power transmission & distribution networks and aging infrastructure are the factors favoring the market growth.

     

    However, data privacy and cyber security are hindering the market growth. By using smart transformers, monitoring and controlling of the power flow is achieved. Smart grids with smart transformers are capturing maximum of the market demand. The demand is attributed to high urbanization and industrialization in Asia Pacific. Distribution segment is witnessing the fastest growth due to implementation of smart grids happens majorly at the distribution level.

     

    In 2014, Asia Pacific dominated the global market and accounted for more than 30% of global share and is also expected to witness high growth rate during the forecast period. China and India are projected to be the fastest growing markets in this region. U.S., UK, China, India, Brazil, Saudi Arabia and UAE are expected to be promising markets over the study period.

     

    Some of the key players in the global market include General Electric, BHEL, Mitsubishi Electric, Schneider Electric SE, ABB, Howard Industrial, Siemens, Alstom, Gridco Systems, Gridbridge, Amantys, Cooper Power Systems and Varentec.

     

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