“The digitalization and sustainability of grid equipment are driving the global transformer market,” said Neha Tatikota, Industry Analyst, Energy & Environment, Frost & Sullivan.There will be an increase in demand for digital power and distribution transformers as a result of the former. Meanwhile, green transformers will be in demand due to their reduced carbon footprint and improved safety.
Transformer market expansion will present lucrative growth opportunities for market players such as:
- Transformers that offer a unique value proposition to manufacturers give them a competitive advantage.
- Investing heavily in AI digital services that provide real-time monitoring and trend analysis of performance should be the priority for utilities. By doing so, the substation will be able to operate more efficiently.
- New services/solutions, such as repair history and load/demand forecasting, will expand the manufacturer’s market share.
- Manufacturers of transformers must keep innovating and intensify R&D on product differentiation and innovation in order to absorb renewable energy more efficiently.With this, we will be able to stay on top of the development of new energy industries and products, develop sustainable solutions, and gain a greater share of the market.
Frost & Sullivan’s Global Transformer Growth Opportunities, available in the Frost & Sullivan Leadership Council, helps organizations identify ongoing growth opportunities to meet their Predicted future success goals.
Digital transformers, HVDC converter transformers, coupling transformers, and mobile transformers are emerging key transformer technologies. Over the next few years, digital transformers will also experience significant growth. Power supply parameters are monitored in real-time by these transformers, which regulate voltage independently and remain connected to the grid for remote management. Smart electronics, smart detection, and smart diagnostics are built into them.
Mobile transformers control the power flow in a network by adjusting the phase of line voltage.
The expansion of power transmission and distribution projects has led to a steady increase in transformer capacity in many countries. Power-starved communities and existing power infrastructure in semi-urban areas will benefit from the expansion of distribution networks in many Asian countries in recent years.
