Market

Smart transformer market to reach $5.04 B by 2026

According to a recently published report by Fortune Business insights™, the global smart transformer market size is expected to reach $5.04 B by 2026 on account of the increasing demand for smooth power supply and the rise in focus on producing alternate energy worldwide.

The market size was $1.72 B in 2018 and is expected to rise at a CAGR of 14.5 % within 2019 to 2026.

This report on the smart transformer market offers a comprehensive overview of the market and its prime growth trajectories. These include growth drivers, restraints, challenges, and opportunities. The report also throws light on recent developments, current smart transformer market trends, and other interesting insights related to the market. Additionally, the report provides detailed segmentation of the market based on type, application, and regions and the competitive landscape.

The regions covered in this report are: Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa.

The key players on the smart transformers market are: SPX Transformer Solutions Inc., CG Power and Industrial Solutions Limited, Ormazabal, Powerstar, GE Power, Mitsubishi Electric, Triad Magnetics, Siemens, Alstom, ABB, Eaton, Schneider Electric.

Source: Yahoo Finance