are an integral part of smart grids which work independently to constantly regulate voltage and maintain connection with the smart grid to allow remote administration and to provide information and feedback about power supply. Through a process known as voltage optimization, a smart transformer provides precise amount of power that is required, and reacts instantly to fluctuations within the power grid, acting as a voltage regulator to ensure that the optimized voltage is uninterrupted. Smart grids with smart transformers have high demand in regions with high industrialization urbanization growth such as Asia-Pacific and in the regions with aging power infrastructure namely North America and Europe. Power smart transformers are used in the transmission networks and integration of the distributed renewable power generators. Monitoring and controlling of the power flow in real-time is achieved through the smart transformers. This benefits the development of smart transmission & distribution networks.The global smart transformers market
is estimated to reach $XXbn in 2021, growing CAGR of XX% from $XXbn in 2016. Increasing expenditure on transmission of power and distribution infrastructure by utilities along with growing investments for smart grid infrastructure results the growth for smart transformers market.
The global smart transformers market is classified based on type into power, distribution, specialty and instrument, by application into traction locomotive, smart grid, electric vehicle charging and others. Power transformers are estimated to have higher revenue due to increase in demand for electricity supply.
Asia-Pacific is estimated to be the largest market for smart transformers in the world in 2016, and is expected to remain dominant until 2021. The leading companies are expanding rapidly in fast-growing markets such as Asia-Pacific, North America the Middle East, Africa, and South America through new sales and service facilities and expanding manufacturing capacity.There are many key players operating in the global smart transformers market. Few key players include:
- ABB ltd
- General Electric
- Eaton Corporation
- Schneider Electric
- Crompton greaves and others.