Middle East Smart Transformers Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 1.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Middle East Smart Transformers Market Analysis
The Middle-East smart transformer market is expected to grow at a CAGR of more than 1% during the forecast period of 2020 - 2025. Factors such as the increasing focus of governments across the developed and emerging economies on adopting smart technology in power grid infrastructure and efforts to overcome rising challenges, such as aging transmission and distribution (T&D) infrastructure, electric vehicle charging, and distributed generation, are expected to benefit the growth of smart transformers across the globe. Moreover, the increasing demand for smart grid technologies and energy storage initiatives is likely to further drive the smart transformer market during the forecast period in the region. The challenge, however, is the problem of poor government regulations and initiatives to expand and modernize the grid infrastructure, which is expected to limit the growth of the market studied.
- Distribution transformers, which are to communicate with consumers and for continuous load monitoring, are expected to be the major segment in the smart transformers market.
- A number of governments across the region are increasingly viewing smart grid technology as a strategic infrastructural investment that will sustain their long-term economic prosperity and help them to achieve their carbon emission reduction targets. This, in turn, is expected to provide an ample amount of opportunity to the companies involved in smart transformers market in the near future.
- Saudi Arabia is expected to dominate the market primarily driven by the transmission and distribution developments and industrial growth in the country.
Middle East Smart Transformers Market Trends
This section covers the major market trends shaping the Middle East Smart Transformers Market according to our research experts:
Distribution Transformers to Dominate the Market
- The growing emphasis on renewable energy generation across the region, coupled with increasing electrical infrastructure projects, is expected to drive the demand for distribution transformers during the forecast period, in turn driving the Middle East smart transformers market.
- In the electric distribution grid, smart transformers work independently to monitor and regulate the voltage while maintaining contact with the smart grid. This enables the information about the transformer and the power supply to be provided even by remote administration. Hence, this enables for proper load management, resulting in better power quality and lesser power outages.
- The region is expected to witness a significant increase in investments in new oil & gas and other infrastructure projects, which in turn is expected to drive the market for smart distribution transformers.
- Electricity generation in the region has seen significant growth in recent years due to rapid urbanization, and the increasing industrial sector. This has led to an increased usage of distribution transformers. Electricity generation grew by around 60% between 2008 and 2018.
- Therefore, the aforementioned factors are expected to drive the market in the forecast period.
Saudi Arabia to Dominate the Market
- Saudi Arabia is expected to dominate the market in the forecast period due to developments of new infrastructure and heavy investments in solar energy projects.
- The country aims to produce 9.5 gigawatts of renewable energy mainly from solar power, under its Vision 2030 plan. The country till now has launched bidding or prequalification procedures for around 11 solar power projects, amounting up to 2.7 GW of capacity. The 300 MW Sakaka solar plant came online in November 2019.
- Electricity generation in the country has seen significant growth in recent years, with around 77% increase between 2008 and 2018. Electricity generation in 2008 was 216.4 TWh and increased by 167.4 TWh to reach 383.8 TWh in 2018.
- Currently, the technology being studied is in its infancy in the country, but the growing interest by the government is expected to change that in the forecast period.
- Therefore, the increasing investment in solar power, investments in new infrastructure, and grid expansion is expected to help the smart transformer market to grow in the country.
Middle East Smart Transformers Industry Overview
The Middle-East smart transformer market is partially fragmented. Some of the major companies include ABB Ltd, Siemens AG, Schneider Electric SE, Eaton Corporation PLC, and General Electric Company, among others.
Middle East Smart Transformers Market Leaders
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ABB Ltd
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Siemens AG
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Schneider Electric SE
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Eaton Corporation PLC
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General Electric Company
*Disclaimer: Major Players sorted in no particular order
Middle East Smart Transformers Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Scope of the Study
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1.2 Market Definition
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1.3 Study Assumptions
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2. EXECUTIVE SUMMARY
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3. RESEARCH METHODOLOGY
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4. MARKET OVERVIEW
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4.1 Introduction
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4.2 Market Size and Demand Forecast in USD billion, till 2025
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4.3 Recent Trends and Developments
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4.4 Government Policies and Regulations
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4.5 Market Dynamics
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4.5.1 Drivers
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4.5.2 Restraints
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4.6 Supply Chain Analysis
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4.7 PESTLE Analysis
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5. MARKET SEGMENTATION
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5.1 Type
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5.1.1 Distribution Transformers
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5.1.2 Power Transformers
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5.2 Geography
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5.2.1 Saudi Arabia
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5.2.2 United Arab Emirates
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5.2.3 Rest of the Middle-East
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
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6.3.1 ABB Ltd
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6.3.2 Crompton Greaves
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6.3.3 Siemens AG
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6.3.4 General Electric Company
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6.3.5 Hitachi Ltd.
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6.3.6 Schneider Electric SE
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6.3.7 Mitsubishi Electric Corporation
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6.3.8 SPX Transformer Solutions Inc.
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6.3.9 Eaton Corporation plc
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Middle East Smart Transformers Industry Segmentation
The Middle-East smart transformer market report include:
| Type | |
| Distribution Transformers | |
| Power Transformers |
| Geography | |
| Saudi Arabia | |
| United Arab Emirates | |
| Rest of the Middle-East |
Middle East Smart Transformers Market Research FAQs
What is the current Middle-East Smart Transformer Market size?
The Middle-East Smart Transformer Market is projected to register a CAGR of greater than 1% during the forecast period (2024-2029)
Who are the key players in Middle-East Smart Transformer Market?
ABB Ltd , Siemens AG , Schneider Electric SE , Eaton Corporation PLC and General Electric Company are the major companies operating in the Middle-East Smart Transformer Market.
What years does this Middle-East Smart Transformer Market cover?
The report covers the Middle-East Smart Transformer Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Middle-East Smart Transformer Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Middle East Distribution Transformer Industry Report
Statistics for the 2024 Middle East Distribution Transformer market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Middle East Distribution Transformer analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Middle East Distribution Transformer Market Report Snapshots
