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Europe Smart Transformers Market Forecast 2019-2027

The Europe smart transformers market was valued at $XX million in 2018 and is expected to reach $XX million by 2027 growing at a CAGR of 8.68% during the forecast period of 2019-2027. The major drivers facilitating the expansion of the market include a rise in the industrial growth, aging infrastructure leading to investment in smart grids, rising production of electricity and a growing demand for green energy.

The market is witnessing plenty of growth opportunities owing to the rising sales of hybrid and electric vehicles and the need for a more reliable error-free network. The segmentation of the market can be done in three parts: by component, by application, and by type. The components for this market include switches, converters, etc. The applications of this market can be observed in areas like traction locomotives, alternative power generation, electric vehicle charging station and power (distribution) grid. Although the power grid market held the major share in the year 2018, it is the alternative power generation segment that is expected to be the fastest growing segment by the end of the forecast period. The market by type is classified into instrument transformer, specialty transformer distribution transformer, and power transformer. In the coming years, the distribution transformer is predicted to be the fastest growing type of the market.

Some of the top players in the market include Mitsubishi Electric Corporation, Siemens AG, Tesla Transformers Ltd., SPX Transformer Solutions, ABB Ltd., Crompton Greaves Ltd., General Electric Co., Howard Industries, Inc., Eaton Corporation PLC, Bharat Heavy Electricals Limited, Maschinenfabrik Reinhausen GmbH, and Schneider Electric SE.
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Europe Smart Transformers Market Forecast 2019-2027
Published By :Inkwood Research
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