Asia-Pacific Smart Transformers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Smart Transformers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia-Pacific smart transformers market is expected to grow at a CAGR of more than 8% during the forecast period. Factors such as the increasing focus of governments across the developed and emerging economies, such as China and India, on adopting smart technology in power grid infrastructure and rising challenges, such as ageing transmission and distribution (T&D) infrastructure, electric vehicle charging, and distributed generation, are expected to benefit the growth of smart transformers across Asia-Pacific. Moreover, the increasing demand for smart grid technologies and energy storage initiatives is likely to further drive the smart transformers market during the forecast period. The challenge, however, is the problem of low accessibility to electricity in some nations and poor government regulations and initiatives to expand and modernize the grid infrastructure, which in turn is expected to limit the growth of the market studied.

Key Highlights

• Distribution transformers, which are to communicate with consumers and for continuous load monitoring, are expected to be the major segment for the smart transformers market.
• A number of governments of both emerging and underdeveloped nations across the world are increasingly viewing smart grid technology as a strategic infrastructural investment that will sustain their long-term economic prosperity and help them to achieve their carbon emission reduction targets. This, in turn, is expected to provide an ample amount of opportunity to the companies involved in smart transformers market in the near future.
• China is expected to be the largest market for smart transformers, owing to increased investment in smart grids to meet the demand of electricity in the country.

Key Market TrendsDistribution Transformers to Dominate the Market

• The growing emphasis on renewable energy generation across the world, coupled with increasing electrical infrastructure projects, is expected to drive the demand for distribution transformers during the forecast period, in turn driving the smart transformers market.
• In electric distribution grid, smart transformers work independently to monitor and regulate the voltage while maintaining a contact with the smart grid. This enables the information about the transformer and the power supply to be provided even by remote administration. Hence, this enables for proper load management, resulting in better power quality and lesser power outages.
• In 2018, India was the third-largest electricity-generating nation in the world. This power is generated from both conventional and renewable sources. The country has made major strides in improving access to power among both rural and urban communities through various government-led schemes focused on Power for All.
• Moreover, developed economies, such as Japan, contribute to the significant demand for smart transformers, owing to the increasing replacement of aging power distribution equipment, and increase in the integration of renewables to the grid.

China to Drive the Market

• China is the world’s largest market for power transmission and distribution (T&D) and is also poised to become a major consumer of smart grid technology, supported by its policy to reduce carbon emission and commitment for green development.
• China has the ambition to become a world leader in electrical power equipment by 2025. This is a national strategy outlined in the Technology Roadmap (2017) of the Made in China 2025 programme. Innovation and technology are heavily focused on in the national programme and large amounts of funding are allocated to support the development.
• State Grid Corporation of China has rolled out “Global Energy Internet” concept, based on having smart grid connections to an ultra-high voltage power grid that would have the potential to deliver clean energy. This in turn is expected to drive the smart transformers market in the country during the forecast period.
• In 2019, China’s State Grid sanctioned world’s largest smart grid facility, with first phase of this project concluding in 2021, and completing it in 2024. This project is expected to bolster the smart transformer market in China and hence drive it during the forecast period.

Competitive Landscape

The Asia-Pacific smart transformers market is moderately fragmented. Some of the key players in the market include ABB Ltd, Siemens AG, Schneider Electric SE, Eaton Corporation PLC, and General Electric Company.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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