Middle-East Smart Transformer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Middle-East Smart Transformer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Middle-East smart transformer market is expected to grow at a CAGR of more than 1% during the forecast period of 2020 – 2025. Factors such as the increasing focus of governments across the developed and emerging economies on adopting smart technology in power grid infrastructure and efforts to overcome rising challenges, such as aging transmission and distribution (T&D) infrastructure, electric vehicle charging, and distributed generation, are expected to benefit the growth of smart transformers across the globe. Moreover, the increasing demand for smart grid technologies and energy storage initiatives is likely to further drive the smart transformer market during the forecast period in the region. The challenge, however, is the problem of poor government regulations and initiatives to expand and modernize the grid infrastructure, which 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 in the smart transformers market.
• A number of governments across the region 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.
• Saudi Arabia is expected to dominate the market primarily driven by the transmission and distribution developments and industrial growth in the country.

Key Market TrendsDistribution Transformers to Dominate the Market

• The growing emphasis on renewable energy generation across the region, coupled with increasing electrical infrastructure projects, is expected to drive the demand for distribution transformers during the forecast period, in turn driving the Middle East smart transformers market.
• In the electric distribution grid, smart transformers work independently to monitor and regulate the voltage while maintaining 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.
• The region is expected to witness a significant increase in investments in new oil & gas and other infrastructure projects, which in turn is expected to drive the market for smart distribution transformers.
• Electricity generation in the region has seen significant growth in recent years due to rapid urbanization, and the increasing industrial sector. This has led to an increased usage of distribution transformers. Electricity generation grew by around 60% between 2008 and 2018.
• Therefore, the aforementioned factors are expected to drive the market in the forecast period.

Saudi Arabia to Dominate the Market

• Saudi Arabia is expected to dominate the market in the forecast period due to developments of new infrastructure and heavy investments in solar energy projects.
• The country aims to produce 9.5 gigawatts of renewable energy mainly from solar power, under its Vision 2030 plan. The country till now has launched bidding or prequalification procedures for around 11 solar power projects, amounting up to 2.7 GW of capacity. The 300 MW Sakaka solar plant came online in November 2019.
• Electricity generation in the country has seen significant growth in recent years, with around 77% increase between 2008 and 2018. Electricity generation in 2008 was 216.4 TWh and increased by 167.4 TWh to reach 383.8 TWh in 2018.
• Currently, the technology being studied is in its infancy in the country, but the growing interest by the government is expected to change that in the forecast period.
• Therefore, the increasing investment in solar power, investments in new infrastructure, and grid expansion is expected to help the smart transformer market to grow in the country.

Competitive Landscape

The Middle-East smart transformer market is partially fragmented. Some of the major companies include ABB Ltd, Siemens AG, Schneider Electric SE, Eaton Corporation PLC, and General Electric Company, among others.

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

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.