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New York, June 29, 2021 (Global News Agency)- Overview of the smart transformer market: According to the comprehensive research report of the Market Research Future (MRFR), “Smart Transformer Market Research reports, types, components, applications and regions-forecasts to 2027″ By 2027, the smart transformer market is expected to be worth US$6.1 billion, with a compound annual growth rate of 14.94% during the forecast period (2021-2027) and a market value of US$2.21 billion in 2020.
Smart transformer improves grid operation efficiency
The global smart transformer market is gaining huge appeal. The growing demand for enhanced security and resilience and improved grid operation efficiency is the main driving force for the growth of the smart transformer market.In addition, more and more The integration of renewable energy grids around the world has benefited the smart transformer industry.
With the continuous improvement of global regulatory goals and the continuous improvement of smart grid integration, the market is expected to grow faster in the next few years. In this regard, Market Research Future pointed out that by 2027, the global smart transformer market will reach an exponential valuation, with an impressive compound annual growth rate during the forecast period (2020-2027).
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competition analysis
The list of major companies introduced in the smart transformer market report are:
- Siemens AG (Germany)
- Schneider Electric SE (France)
- ABB Limited (Switzerland)
- General Electric Company (United States)
- Mitsubishi Electric Corporation (Japan)
- Eaton Corporation (Ireland)
- Crompton Greaves Ltd. (India)
- Howard Industries (United States)
- Bharat Heavy Electricals Limited (India)
- Alstom (France)
- Ormazabal (Spain)
- SPX Transformer Solutions Company (United States)
Competition is fierce, the smart transformer market seems to be fragmented, and several well-known players have formed a competitive landscape. Industry participants initiate strategic methods such as mergers and acquisitions, collaboration, expansion, and technology release to gain a greater share of competition.
For example, recently, on June 14, 2021, Alliant Energy (USA), a leading electricity supplier in Iowa and Wisconsin, announced a partnership with Sensus to expand its smart utility network and improve response and visibility to outages …
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