Dublin, Jan. 21, 2024 (GLOBE NEWSWIRE) -- The "Asia Pacific Smart Transformers Market, Competition, Forecast & Opportunities, 2018-2028" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific Smart Transformers Market was valued at USD 783.58 million in 2022 and is growing at a CAGR of 7.05% during the forecast period. The increasing demand for smart grid technologies and energy storage initiatives is likely to further drive the smart transformers market during the forecast period
Report Scope:
Key Market Drivers
- Growing Demand for Reliable and Efficient Power Distribution
- Grid Modernization Initiatives and Infrastructure Upgrades
- Rising Awareness of Energy Efficiency and Environmental Sustainability
Key Market Challenges
- High Initial Costs and Return on Investment
- Interoperability and Compatibility Issues
- Cybersecurity and Data Privacy Concerns
Key Market Trends
- Rapid Adoption of Digital Twin Technology
- Integration of Renewable Energy Sources
Asia Pacific Smart Transformers Market, By Type:
- Distribution Transformer
- Instrument Transformer
- Power Transformer
- Specialty Transformer
Asia Pacific Smart Transformers Market, By Component:
- Converter
- Switch
- Others
Asia Pacific Smart Transformers Market, By Application:
- Electric Vehicle Charging Station
- Power Grid
- Traction Locomotives
- Alternative Power Generation
Asia Pacific Smart Transformers Market, By Country:
- China
- Japan
- India
- South Korea
- Australia
- Vietnam
- Indonesia
- Singapore
- Philippines
- Malaysia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Asia Pacific Smart Transformers Market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $783.58 Million |
| Forecasted Market Value (USD) by 2028 | $1238.21 Million |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Asia Pacific |
A selection of companies mentioned in this report includes
- ABB Ltd
- Crompton Greaves
- Siemens AG
- General Electric Company
- Hitachi Ltd.
- Schneider Electric SE
- Mitsubishi Electric Corporation
- SPX Transformer Solutions Inc.
- Eaton Corporation plc
- KONCAR - Electrical Industry Inc.
For more information about this report visit https://www.researchandmarkets.com/r/80vci0
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