Smart Transformers Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing Adoption of Smart Grid Network
- Rising Investment in Digitalization of Energy & Power Sector
Challenges
- Slow Pace of Replacement of Traditional Transformers with Smart Transformers
- High Capital Investment
Smart Transformers Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
13.2% |
|
Base Year Market Size (2024) |
USD 2.8 billion |
|
Forecast Year Market Size (2037) |
USD 14.03 billion |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of smart transformers is estimated at USD 3.11 billion.
Smart Transformers Market size was over USD 2.8 billion in 2024 and is anticipated to cross USD 14.03 billion by 2037, witnessing more than 13.2% CAGR during the forecast period i.e., between 2025-2037.
North America industry is anticipated to account for largest revenue share by 2037, owing to increasing adoption of smart grid network in the region.
The major players in the market are Schneider Electric, BHEL, The General Electric Company, Siemens AG, Honeywell International Inc., Grid Point, Inc., Mitsubishi Electric Corporation, and others.
