Smart transformers are transformers which integrates a general transformer’s features with monitoring software and communication technology among others. Power transformers are one of the most important and complex component of the electricity generation and transmission process. An owner of a power transformer has to face certain challenges such as high maintenance cost for extending life of a transformer among others.  Failure of a power transformer can lead to dire consequences such as revenue loss, life loss and legal consequences among others.

Such challenges have led to the advent of smart transformers. This new-age transformers are designed to allow the maintenance of the power load independently. They can regulate the voltage constantly, while maintaining contact with the smart grid infrastructure, and deliver the optimal amount of power as and when required. They are programmed to allow remote monitoring and can act on any power fluctuations instantly. Provision for remote monitoring of critical components of the transformer, through in-built sensors, increases reliability of continuous power distribution and reduces chances of transformer failure. Faults can be recognized remotely on a real-time basis and actions can be taken faster. The smart transformers are also more environment friendly as they reduce energy consumption and thus reduce the emission of green house gases. They are also equipped to protect electrical equipments by safeguarding them from voltage fluctuations leading to increase in longevity of those equipments. 

The market for smart transformers is still nascent but has tremendous potential of growth. Currently the market is mainly driven by the up gradation of aging power distribution networks across the globe. As part of development initiatives, governments in developing countries are undertaking huge investments to expand the reach of electrification across different villages and cities. Smart transformers are being utilized in such projects and thus their implementation is leading to the growth of the market. Demand for safer and more efficient power transmission coupled with environmental concerns on power generation has led to development of many international and nation-specific regulations such as European Commission’s Ecodesign regulation among others. Such regulations are also boosting the smart transformers market. The market is also positively impacted by the huge increase in utility (transformers) and industrial infrastructure development in the emerging markets such as China and India among others. 

The global smart transformers market can be segmented, based on types, into distribution transformer, instrument transformer, power transformer and specialty transformer. On the basis of components, the market can be segmented into converters, high-frequency transformers, switches and others. On the basis of applications, the market can be segmented into electric vehicle charging, smart grid, traction locomotive and others. Furthermore, smart transformers market can be geographically segmented into North America, Europe, Asia-Pacific (APAC) and rest of the world.

Some of the key companies leading the distribution voltage regulator market are ABB Ltd. (Switzerland), Alstom SA (France), Cree Inc. (US), Crompton Greaves (India), Eaton Corporation Plc. (Ireland), General Electric Co. (US), Howard Industries Inc. (US), Mitsubishi Electric (Japan), Schneider Electric (France) and Siemens AG (Germany) among others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Smart Transformers Market

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