Report Information of US Smart Transformers Market Research by Type, Component, and Application Forecast to 2030

Description

List of Tables

Report Information of US Smart Transformers Market Research by Type (Power Transformers, Distribution Transformers, Specialty Transformers and Instrument Transformers), Component (Converters, Switches, Transformers, Hardware, and Others), and Application (Traction Locomotive, Smart Grid, Electric Vehicle Charging and Others) Forecast to 2030

Market Overview

The US smart transformer market was valued at USD 1,005.5 million in 2022 and is expected to grow to USD 2,275.5 million by the end of 2030, with a CAGR of 11.4% over the forecast period. The increased emphasis on power grid modernization and the shift to smart grids is a key driver of the US smart transformer market. The growing population, urbanization, and industrialization are driving the demand for sophisticated technologies to optimize power distribution and the effectiveness of smart transformers in solving the issues associated with rising energy demand. Utilities and energy firms are concentrating on increasing energy efficiency to reduce losses and improve overall system performance. This reason is boosting the market expansion of smart transformers due to their superior capabilities, which aid to improve system efficiency.

A smart transformer is a technologically advanced and highly efficient electrical device that improves the performance, control, and monitoring of power distribution. Unlike traditional transformers, smart transformers use cutting-edge technologies and communication capabilities to optimize energy flow, increase dependability, and enable real-time data-driven decision making.

Marketing Segmentation

The US smart transformers market is divided into three segments: type, component, and application. The smart transformers market in the United States is divided into four types: power transformers, distribution transformers, specialty transformers, and instrument transformers. Among these, the power transformers category dominated the market with a 56.70% share in 2022 and is predicted to grow at a CAGR of 12% during the review period, reaching USD 1,340.3 million in 2030. The US smart transformers market is divided into five component categories: converters, switches, transformers, hardware, and others. In 2022, the transformer category led the market, accounting for 38.59%. The US smart transformers market is divided into four segments based on application: traction locomotives, smart grids, electric vehicle charging, and others. In 2022, the electric vehicle charging category dominated the market, with 35.37% of the share.

Major Players

The leading market players are ABB, Siemens, Schneider Electric, General Electric, Hitachi Energy, Toshiba Corporation, Virginia Transformer Corp., ELSCO Transformers, and Mitsubishi Electric.

1 EXECUTIVE SUMMARY

1.1 US SMART TRANSFORMERS MARKET, BY TYPE
1.2 US SMART TRANSFORMERS MARKET, BY COMPONENT
1.3 US SMART TRANSFORMERS MARKET, BY APPLICATION

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 TOP-DOWN AND BOTTOM-UP APPROACH
3.6 FORECAST MODEL
3.7 LIST OF ASSUMPTIONS & LIMITATIONS

4 MARKET DYNAMICS

4.1 INTRODUCTION
4.2 DRIVERS
- 4.2.1 INCREASING FOCUS ON ALTERNATIVE ENERGY PRODUCTION
- 4.2.2 INCREASING DEMAND FOR SMART GRIDS
- 4.2.3 DRIVERS IMPACT ANALYSIS
4.3 RESTRAINT
- 4.3.1 HIGH INITIAL COST INCURRED IN THE INSTALLATION OF SMART TRANSFORMERS
- 4.3.2 RESTRAINT IMPACT ANALYSIS
4.4 OPPORTUNITY
- 4.4.1 GROWTH OF THE ELECTRIC VEHICLE MARKET AND THE ALLIED INFRASTRUCTURE

5 MARKET FACTOR ANALYSIS

5.1 SUPPLY CHAIN ANALYSIS
- 5.1.1 RESEARCH AND DEVELOPMENT
- 5.1.2 RAW MATERIAL SUPPLY
- 5.1.3 MANUFACTURERS
- 5.1.4 DISTRIBUTION CHANNEL
- 5.1.5 END-USE INDUSTRIES
5.2 PORTER'S FIVE FORCES MODEL
- 5.2.1 THREAT OF NEW ENTRANTS
- 5.2.2 THREAT OF SUBSTITUTES
- 5.2.3 BARGAINING POWER OF SUPPLIERS
- 5.2.4 BARGAINING POWER OF BUYERS
- 5.2.5 INTENSITY OF RIVALRY
5.3 IMPACT OF COVID 19 ON ENERGY & POWER MARKET
- 5.3.1 IMPACT ON OVERALL ENERGY & POWER INDUSTRY
  - 5.3.1.1 ECONOMIC IMPACT
- 5.3.2 IMPACT ON SMART TRANSFORMERS MARKET
- 5.3.3 IMPACT ON SUPPLY CHAIN OF SMART TRANSFORMERS MARKET
  - 5.3.3.1 PRICE VARIATION OF KEY RAW MATERIAL
  - 5.3.3.2 PRODUCTION SHUTDOWN
  - 5.3.3.3 CASH FLOW CONSTRAINTS
  - 5.3.3.4 IMPACT ON IMPORT/EXPORT
- 5.3.4 IMPACT ON MARKET DEMAND OF SMART TRANSFORMERS MARKET
  - 5.3.4.1 IMPACT DUE TO RESTRICTION/LOCKDOWN
  - 5.3.4.2 CONSUMER SENTIMENTS
- 5.3.5 IMPACT ON PRICING OF SMART TRANSFORMERS MARKET

6 US SMART TRANSFORMER MARKET, BY TYPE

6.1 OVERVIEW
- 6.1.1 US SMART TRANSFORMER: MARKET ESTIMATES & FORECAST BY TYPE, 2019-2030
6.2 POWER TRANSFORMERS
6.3 DISTRIBUTION TRANSFORMERS
6.4 SPECIALTY TRANSFORMERS
6.5 INSTRUMENT TRANSFORMERS

7 US SMART TRANSFORMER MARKET, BY COMPONENT

7.1 OVERVIEW
- 7.1.1 US SMART TRANSFORMER: MARKET ESTIMATES & FORECAST BY COMPONENT, 2019-2030
7.2 CONVERTERS
7.3 SWITCHES
7.4 TRANSFORMERS
7.5 HARDWARE
7.6 OTHERS

8 US SMART TRANSFORMER MARKET, BY APPLICATION

8.1 OVERVIEW
- 8.1.1 US SMART TRANSFORMER: MARKET ESTIMATES & FORECAST BY APPLICATION, 2019-2030
8.2 TRACTION LOCOMOTIVE
8.3 SMART GRID
8.4 ELECTRIC VEHICLE CHARGING
8.5 OTHERS
9.2 MAJOR GROWTH STRATEGIES IN THE US SMART TRANSFORMERS MARKET
9.3 MARKET SHARE ANALYSIS, 2022
9.4 COMPETITIVE DASHBOARD
9.5 THE LEADING PLAYER IN TERMS OF NUMBER OF DEVELOPMENTS IN US SMART TRANSFORMERS MARKET
9.6 KEY DEVELOPMENTS & GROWTH STRATEGIES
- 9.6.1 NEW PRODUCT DEVELOPMENT
- 9.6.2 MERGERS & ACQUISITIONS
- 9.6.3 CONTRACTS & AGREEMENTS
- 9.6.4 EXPANSIONS & INVESTMENTS

10 COMPANY PROFILES

10.1 ABB
- 10.1.1 COMPANY OVERVIEW
- 10.1.2 FINANCIAL OVERVIEW
- 10.1.3 PRODUCTS OFFERED
- 10.1.4 KEY DEVELOPMENTS
- 10.1.5 SWOT ANALYSIS
- 10.1.6 KEY STRATEGIES
10.2 EATON
- 10.2.1 COMPANY OVERVIEW
- 10.2.2 FINANCIAL OVERVIEW
- 10.2.3 PRODUCTS OFFERED
- 10.2.4 KEY DEVELOPMENTS
- 10.2.5 SWOT ANALYSIS
- 10.2.6 KEY STRATEGIES
10.3 SCHNEIDER ELECTRIC SE
- 10.3.1 COMPANY OVERVIEW
- 10.3.2 FINANCIAL OVERVIEW
- 10.3.3 PRODUCTS OFFERED
- 10.3.4 KEY DEVELOPMENTS
- 10.3.5 SWOT ANALYSIS
- 10.3.6 KEY STRATEGIES
10.4 GENERAL ELECTRIC
- 10.4.1 COMPANY OVERVIEW
- 10.4.2 FINANCIAL OVERVIEW
- 10.4.3 PRODUCTS OFFERED
- 10.4.4 KEY DEVELOPMENTS
- 10.4.5 SWOT ANALYSIS
- 10.4.6 KEY STRATEGIES
10.5 MITSUBISHI ELECTRIC
- 10.5.1 COMPANY OVERVIEW
- 10.5.2 FINANCIAL OVERVIEW
- 10.5.3 PRODUCTS OFFERED
- 10.5.4 KEY DEVELOPMENTS
- 10.5.5 SWOT ANALYSIS
- 10.5.6 KEY STRATEGIES
10.6 SIEMENS ENERGY
- 10.6.1 COMPANY OVERVIEW
- 10.6.2 FINANCIAL OVERVIEW
- 10.6.3 PRODUCTS OFFERED
- 10.6.4 KEY DEVELOPMENTS
- 10.6.5 SWOT ANALYSIS
- 10.6.6 KEY STRATEGIES
10.7 ELSCO TRANSFORMERS
- 10.7.1 COMPANY OVERVIEW
- 10.7.2 FINANCIAL OVERVIEW
- 10.7.3 PRODUCTS OFFERED
- 10.7.4 KEY DEVELOPMENTS
- 10.7.5 SWOT ANALYSIS
- 10.7.6 KEY STRATEGIES
10.8 HITACHI ENERGY
- 10.8.1 COMPANY OVERVIEW
- 10.8.2 FINANCIAL OVERVIEW
- 10.8.3 PRODUCTS OFFERED
- 10.8.4 KEY DEVELOPMENTS
- 10.8.5 SWOT ANALYSIS
- 10.8.6 KEY STRATEGIES
10.9 TOSHIBA CORPORATION
- 10.9.1 COMPANY OVERVIEW
- 10.9.2 FINANCIAL OVERVIEW
- 10.9.3 PRODUCTS OFFERED
- 10.9.4 KEY DEVELOPMENTS
- 10.9.5 SWOT ANALYSIS
- 10.9.6 KEY STRATEGIES
10.10 VIRGINIA TRANSFORMER CORP.
- 10.10.1 COMPANY OVERVIEW
- 10.10.2 FINANCIAL OVERVIEW
- 10.10.3 PRODUCTS OFFERED
- 10.10.4 KEY DEVELOPMENTS
- 10.10.5 SWOT ANALYSIS
- 10.10.6 KEY STRATEGIES

11 APPENDIX

11.1 REFERENCES
11.2 RELATED REPORTS

LIST OF TABLES

TABLE 1 LIST OF ASSUMPTIONS & LIMITATIONS
TABLE 2 US SMART TRANSFORMER MARKET ESTIMATES & FORECAST, BY TYPE, 2019-2030 (USD MILLION)
TABLE 3 US SMART TRANSFORMER MARKET ESTIMATES & FORECAST, BY COMPONENT, 2019-2030 (USD MILLION)
TABLE 4 US SMART TRANSFORMER MARKET ESTIMATES & FORECAST, BY APPLICATION, 2019-2030 (USD MILLION)
TABLE 5 THE MOST ACTIVE PLAYER IN THE US SMART TRANSFORMERS MARKET
TABLE 6 NEW PRODUCT DEVELOPMENT
TABLE 7 MERGERS & ACQUISITIONS
TABLE 8 CONTRACTS & AGREEMENTS
TABLE 9 EXPANSIONS & INVESTMENTS
TABLE 10 ABB: PRODUCTS OFFERED
TABLE 11 ABB: KEY DEVELOPMENTS
TABLE 12 EATON.: PRODUCTS OFFERED
TABLE 13 EATON: KEY DEVELOPMENTS
TABLE 14 SCHNEIDER ELECTRIC SE: PRODUCTS OFFERED
TABLE 15 SCHNEIDER ELECTRIC SE: KEY DEVELOPMENTS
TABLE 16 GENERAL ELECTRIC: PRODUCT OFFERED
TABLE 17 GENERAL ELECTRIC: KEY DEVELOPMENTS
TABLE 18 MITSUBISHI ELECTRIC: PRODUCTS OFFERED
TABLE 19 MITSUBISHI ELECTRIC: KEY DEVELOPMENTS
TABLE 20 SIEMENS ENERGY: PRODUCTS OFFERED
TABLE 21 ELSCO TRANSFORMERS.: PRODUCTS OFFERED
TABLE 22 HITACHI ENERGY: PRODUCTS OFFERED
TABLE 23 TOSHIBA CORPORATION: PRODUCTS OFFERED
TABLE 24 VIRGINIA TRANSFORMER CORP.: PRODUCTS OFFERED
TABLE 25 VIRGINIA TRANSFORMER CORP.: KEY DEVELOPMENTS

LIST OF FIGURES

FIGURE 1 MARKET SYNOPSIS
FIGURE 2 US SMART TRANSFORMERS MARKET ANALYSIS, BY TYPE
FIGURE 3 US SMART TRANSFORMERS MARKET ANALYSIS, BY COMPONENT
FIGURE 4 US SMART TRANSFORMERS MARKET ANALYSIS, BY APPLICATION
FIGURE 5 US SMART TRANSFORMERS MARKET: MARKET STRUCTURE
FIGURE 6 RESEARCH PROCESS OF MRFR
FIGURE 7 MARKET DYNAMICS OVERVIEW
FIGURE 8 ELECTRICITY GENERATED IN US BY USING RENEWABLE ENERGY SOURCES IN 2021 (IN GWH)
FIGURE 9 INVESTMENT SPENDING ON ELECTRICITY GRIDS IN US, 2018-2022 (IN USD BILLION)
FIGURE 10 DRIVERS IMPACT ANALYSIS: US SMART TRANSFORMERS MARKET
FIGURE 11 RESTRAINT IMPACT ANALYSIS: US SMART TRANSFORMERS MARKET
FIGURE 12 ELECTRIC CAR SALES IN US, 2018-2022 (IN MILLIONS)
FIGURE 13 SUPPLY CHAIN: US SMART TRANSFORMERS MARKET
FIGURE 15 US SMART TRANSFORMER MARKET, BY TYPE, 2019 TO 2030 (USD MILLION)
FIGURE 16 US SMART TRANSFORMER MARKET, BY COMPONENT 2019 TO 2030 (USD MILLION)
FIGURE 17 US SMART TRANSFORMER MARKET, BY APPLICATION, 2019 TO 2030 (USD MILLION)
FIGURE 18 MAJOR GROWTH STRATEGIES IN THE US SMART TRANSFORMERS MARKET
FIGURE 19 US SMART TRANSFORMERS MAJOR PLAYERS MARKET SHARE ANALYSIS, 2022 (%)
FIGURE 20 COMPETITIVE DASHBOARD
FIGURE 21 ABB: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 22 ABB: SWOT ANALYSIS
FIGURE 23 EATON: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 24 EATON.: SWOT ANALYSIS
FIGURE 25 SCHNEIDER ELECTRIC SE: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 26 SCHNEIDER ELECTRIC SE: SWOT ANALYSIS
FIGURE 27 GENERAL ELECTRIC: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 28 GENERAL ELECTRIC: SWOT ANALYSIS
FIGURE 29 MITSUBISHI ELECTRIC: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 30 MITSUBISHI ELECTRIC: SWOT ANALYSIS
FIGURE 31 SIEMENS ENERGY: SWOT ANALYSIS
FIGURE 32 ELSCO TRANSFORMERS.: SWOT ANALYSIS
FIGURE 33 HITACHI ENERGY: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 34 HITACHI ENERGY: SWOT ANALYSIS
FIGURE 35 TOSHIBA CORPORATION: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 36 TOSHIBA CORPORATION: SWOT ANALYSIS
FIGURE 37 VIRGINIA TRANSFORMER CORP.: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 38 VIRGINIA TRANSFORMER CORP.: SWOT ANALYSIS