Global smart transformers market is estimated to grow with approximately 9.10% CAGR during the year 2019-2027. A transformer is mainly used for turning the voltage up or down in any application using Alternate Current (AC). The transformers are used across every resident or commercial, enclosed in a black plastic casing that we usually plug into the power socket for recharging your cell phone or other mobile devices. Such types of transformers are termed to as ‘wall warts.’ These transformers are significantly large that are usually used in power grid systems. Also they can be extremely small and built-in within electronic circuits. Transformers are a crucial part of every electric equipment used daily.

Miksa Déri, Károly Zipernowsky, Ottó Bláthy of the Austro-Hungarian Empire were the first to design and apply the transformer in both commercial, and experimental systems. Afterward, Sebastian Ferranti, William Stanley, and Lucien Gaulard finalized the design.

The property of induction was discovered in the 1830s. However, it wasn’t until 1886 that William Stanley, working with Westinghouse developed the initial dependable commercial transformer. William’s work was developed upon basic designs provided by the Ganz Company headquartered in Hungary (ZBD Transformer 1878), and John Dixon Gibbs and Lucien Gaulard established in England. Oliver Shallenberger, Stanley, Albert Schmid, and George Westinghouse helped make the transformer simpler to alter for final deployment and low-cost of production.

Global smart transformers market is primarily driven by the following factors:

• • • The rise in industrial growth
    • Timeworn infrastructure leading to investment in smart grids
    • Higher consumptions pattern in high growth regions
    • Rising production of electricity
    • Compliance with regulatory standards
    • Green energy demand on the rise

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The important driver is increasing growth in the global smart transformers market rise in the industrial growth. Growth in the industrial sector is being observed in the past few years due to various reasons such as increasing population, infrastructure growth, improved transportation, migration of people and a growing economy. The growing industrialization will drive the smart transformer market as the transformers are basic components of distribution network system of electricity across the industries and other commercial facilities.

The smart transformers market is segmented on the basis of application where they are applied into an electric vehicle charging station, power grid, traction locomotives and alternative power generation like solar and wind. Smart transformer market is growing in the power grid market, as distribution transformer collaborate with real time entities and integrate the systems to cloud platforms. The smart transformer in power grid helps to monitor faults and facilitates companies to make informed decision analytics for supply and demand of energy, predictive outage, and maintenance. The major problem of power grid distribution transformer is distribution power loss. According to the ministry of power, India’s transmission and distribution losses are among the highest in the world such as 26% of the total electricity production. Using smart transformer in power grids reduce the electricity loss.

Infrastructure cost for smart transformers and fluctuations in raw materials are the major factors hindering the smart transformers market. First of all, there is a large investment in terms of infrastructure is required for the distribution and transmission power grid. Due to the number of regulatory and operational challenges the industries are on advancement in traditional transformers. Their main objective is to ensure reliability, security and effective transmission through the smart transformers have overcome the challenges associated with the traditional ones, although it raised the high cost of their installation.

The global smart transformers market segments cover application, component, type, and region.

Application is segmented into:

• Electric vehicle charging station
• Power grid
• Traction locomotives
• Alternative power generation

Component is segmented into:

• Converter
• Switch
• Others

Type is segmented into:

• Distribution Transformer
• Instrument Transformer
• Power Transformer
• Specialty Transformer

Geographically, the global Smart transformers market has been segmented on the basis of four major regions, which includes:

• North America Smart Transformers Market – The United States, Canada
• Asia Pacific Smart Transformers Market – China, India, Japan, Australia, South Korea, and RoAPAC
• Europe Smart Transformers Market – UK, Spain, Germany, France, Italy, Russia and RoE
• Rest of World- Latin America & MEA

The Asia Pacific region was the highest contributor to the global market. The countries considered in the North America region are the China, India, Japan, Australia, South Korea, and RoAPAC.

Asia Pacific market dominates the global smart transformers market in terms of revenue. The superior growth of the region is primarily attributed to China and India who are believed to be the fastest and second to the fastest growing economies in the region.

The major market players of the global smart transformers market are:

• Abb Ltd.
• Eaton Corporation
• General Electric Co.
• Siemens AG
• Schneider Electric SE
• Bharat Heavy Electricals Limited

Company profiles cover the analysis of important players. These companies are using organic and inorganic strategies for growth. For instance, in July 2017, Crompton Greaves acquired Kenstar India Pvt. Ltd. Kenstar India Pvt Ltd is providing advanced world-class technology products that meet the global standards.

Key findings of the global smart transformers market.

• Power grid is the dominant application
• Demand for the converter is expected to be high over the forecast period
• Power transformer is the largest contributor to smart transformer market