Asia Pacific Smart Transformers Market Size

APAC Smart Transformers Market Analysis

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.

• 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.