Global Smart Transformer Market to grow at 19.9% CAGR
Ireland, Dublin: Research and Markets has announced the addition of the “Global Smart Transformer Market Insights, Opportunity Analysis, Market Shares and Forecast, 2016 – 2022” report to their offering.
According to the report, the global smart transformer market is predicted to grow at a CAGR of 19.9% for the period 2016-2022, reports Business Wire.
Major initiatives are underway to bring the solid state transformers (SSTs) from prototyping and investigation phases to profitable deployment and installation stage. These SSTs are probable to replace or temporarily replace the distribution transformers which are being used currently.
Smart grid expenses are most pronounced in the Asia-Pacific region, especially in China which accounts for about a quarter of the total global investment. As the smart transformer technology reaches its profitable phase, adoption is likely to be seen in the Asia Pacific region.
The companies mentioned in the report include Abb Ltd., Alstom SA, Amantys Limited, Cooper Power Systems, Crompton Greaves Ltd., Eaton Corporation Plc, General Electric Co., Grid Bridge, Inc., Howard Industries, Inc. Infineon Technologies AG, Maschinenfabrik Reinhausen (MR), Mitsubishi Electric Corporation, Schneider Electric SE, Seimens AG and Varentec, Inc.
Source: Business Wire