The global distribution smart transformer market is projected to grow from $903.7 Million in 2015 to $2,185.8 Million in 2020, at a CAGR of 19.3%. Major implementation of smart grids happens at the distribution level, with increased consumer communication at the load center. Smart grids with smart transformers have heavy demand in regions with high industrialization urbanization rate such as Asia-Pacific and in the regions with aging power infrastructure such as North America and Europe. Power smart transformers, on the other hand, are used in the transmission networks and integration of the distributed renewable power generators. Monitoring and controlling of the power flow in real-time is achieved through the smart transformers. This aids the development of smart transmission & distribution networks.
The smart transformer market is primarily driven by increasing power demand, expanding power transmission & distribution networks, and the need to improve efficiency of grids along with reduction in wastage of electricity. Smart transformers are an integral part of the smart grid, offering regulated power supply with constant monitoring and feedback for outage prevention.