The Middle East smart transformer market size is estimated to grow at a robust CAGR during the forecast period, 2021-2028. The growth of market is attributed to growing focus of the government over the developed and emerging economies and creating awareness about adoption of smart technological power grid infrastructure and overcome the uncertainties.
Electric vehicles charging points, distributed generation, and aging transmission & distribution (T&D) infrastructure are some of the factors driving the market.
However with the growing demand the energy storage is most likely to surge the smart transformer segment in the region, although the major obstacle that is to be overcome is the poorly formulated government regulation and policies and initiatives to expand and enhance the grid infrastructure.
The smart transformers frequently monitor the voltage and remain in contact with the smart grid allowing it to be administered remotely in the power system. The segment growth is driven by increasing number of investment in developing and strengthening the smart grid infrastructure and digitization in power industry.
Legal authorities across the region are changing their focus on rapid adoption of smart grid technology as a strategic infrastructure investment which allows sustaining long-term economic prosperity and helps in achieving the objective of carbon emission reduction.
This action is estimated to offer immense opportunities to the organizations dealing in with smart transformers market in the near future.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing government initiatives against adoption of smart transformers in emerging economies is expected to spur the market in the coming years.
- Increasing demand for smart grid technologies and energy storage is estimated to drive the market during the forecast period.
- Growing awareness and demand towards electric vehicle charging point, and distribution generation is anticipated to boost the market during the projected period.
- Rising demand of transformers for constant load monitoring and communicate with the consumers is one of the factors ascending the market growth in the coming years.
- Increasing investment on infrastructure of smart grid technology is anticipated to propel the market during the forecast period.
- Lack of strategic formulation of rules and planned initiatives act as one of the factor that hinder the market growth.
- High initial investments required for the implementation of advanced system possess a major challenge that can impede the market expansion in the coming years.
Scope of the market
The report on the Middle East smart transformer market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Smart transformer market – Middle East Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Distribution Transformers and Power Transformers)
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Geographical Scope
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Saudi Arabia, United Arab Emirates, Rest of the Middle East
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Schneider Electric SE; Siemens AG; ABB Ltd; Eaton Corporation PLC; General Electric Company.
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Market Segment Insights
The distribution transformer segment is expected to exhibit high CAGR
Based on the types, the market is segregated into distribution transformers and power transformers. The distribution transformer segment is expected to exhibit high CAGR during the forecast period owing to growing focus on renewable energy power generation along with increasing number of electrical infrastructure projects which in-turn claims to attract investments in oil & gas segment as well, with the increasing urbanization and industrial segment it acts as major factors contributing in market growth during the forecast period.
Saudi Arabia is estimated to dominate the market
In the term of geographies, the market is categorized into Saudi Arabia, United Arab Emirates, and Rest of the Middle East. Saudi Arabia is estimated to dominate the market in the coming years due to new infrastructure developments, huge investments in renewable energy projects, and expansion of existing grids are some of the factors that supports the country to be in dominant position, also current technology of the country are to addressed as an infancy with the favorable government support it is anticipated to thrive the market during the projected period.
Segments
Segments Covered in the Report
The Middle East smart transformer market has been segregated on the basis of
Types
- Distribution Transformers
- Power Transformers
Geographies
- Saudi Arabia
- United Arab Emirates
- Rest of the Middle East
Key Players
- Schneider Electric SE
- Siemens AG
- ABB Ltd
- Eaton Corporation PLC
- General Electric Company
Competitive Landscape
Key players competing in the Middle East smart transformer market include Schneider Electric SE; Siemens AG; ABB Ltd; Eaton Corporation PLC; General Electric Company.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance
In October 2021, Siemens AG and Deutsch bahn (DB) presents the first automatic train that operates itself on rail traffic.
In October 2021, Siemens AG installed the worlds’ first ever leased rapid response transformer allowing a large generating facility to return to service in Orlando allowing them to provide solution in response to failed conventional transformers at a combined cycle power plant.
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