Middle-East Smart Transformer Market Trends, Share & Analysis | 2022-27
Market Overview
Market Overview
During the projected period of 2020-2025, the Middle-East smart transformer market is expected to develop at a CAGR of more than 1%. Factors such as governments in developed and emerging economies focusing more on smart technology in power grid infrastructure and efforts to overcome rising challenges such as ageing transmission and distribution (T&D) infrastructure, electric vehicle charging, and distributed generation are expected to benefit the global growth of smart transformers. Furthermore, rising demand for smart grid technologies and energy storage initiatives is expected to fuel the region's smart transformer market during the projection period.
The problem, however, is that weak government rules and measures to extend and modernise grid infrastructure are projected to impede the market's growth.
Distribution transformers, which will connect with consumers and check load continuously, are likely to be the most important segment of the smart transformers market.
A number of governments in the area are increasingly viewing smart grid technology as a strategic infrastructural investment that will help them sustain long-term economic success and meet their carbon emission reduction ambitions.
This, in turn, is projected to give considerable opportunity for companies operating in the smart transformers market in the near future.
Saudi Arabia is predicted to dominate the market, owing to the country's transmission and distribution developments, as well as its industrial growth.
During the projected period of 2020-2025, the Middle-East smart transformer market is expected to develop at a CAGR of more than 1%. Factors such as governments in developed and emerging economies focusing more on smart technology in power grid infrastructure and efforts to overcome rising challenges such as ageing transmission and distribution (T&D) infrastructure, electric vehicle charging, and distributed generation are expected to benefit the global growth of smart transformers. Furthermore, rising demand for smart grid technologies and energy storage initiatives is expected to fuel the region's smart transformer market during the projection period.
The problem, however, is that weak government rules and measures to extend and modernise grid infrastructure are projected to impede the market's growth.
Distribution transformers, which will connect with consumers and check load continuously, are likely to be the most important segment of the smart transformers market.
A number of governments in the area are increasingly viewing smart grid technology as a strategic infrastructural investment that will help them sustain long-term economic success and meet their carbon emission reduction ambitions.
This, in turn, is projected to give considerable opportunity for companies operating in the smart transformers market in the near future.
Saudi Arabia is predicted to dominate the market, owing to the country's transmission and distribution developments, as well as its industrial growth.
Comments
Post a Comment