Three Phase Green Power Transformer Market Trends

Growth Drivers

• Growing Installation of Battery Energy Storage System - The storage of energy is predicted to play a dominating role in the Net Zero Emissions by 2050. This is because energy storage provides various services which include offering necessary system services that vary from short-term balancing and operating reserves, stabilizing the grid by ancillary services, and reducing the need for investment in new distribution and transmission lines. Further, the prevalence of blackouts has grown in recent years. Over 349 million individuals will be impacted by severe power outages in the world in 2021. This indicates about 5% of the population, globally. Hence, the need for battery energy storage systems is growing and this is further projected to boost three phase green power transformer market demand for three-phase green power transformers. This is because, these transformers are important in lowering the loss of energy while storing, conversing, and optimizing energy, further enhancing the efficiency and utilization. 
• Rising Trend of Smart Grid - Smart grid significantly offers well-structured and founded power with the guidance of different applications of smart grid. This assures opportunity for the economy to grow and gives scope for the environment to sustain. Furthermore, in underdeveloped as well as emerging economies, the government is acknowledging the advantages of smart grid application as a strategic infrastructure investment and is pushing enterprises to adopt it in their manufacturing process. Moreover, a large number of organizations are rigorously launching new technologies including smart meters, EV Chargers, and other infrastructural technologies. This is expected to encourage the demand for the smart grid during the forecasted period. As a result, the marker revenue three phase green power transformer market is also projected to grow.
• Surging Adoption of IoT in Three Phase Green Power Transformer - The primary reason for the failure of a transformer is overloading. Hence, IoT sensors render it feasible to track signals of potential overload before it lack control. For instance, different parameters including temperature, current, voltage, and resistivity of insulation may be monitored using an IoT sensor. This is further expected to identify any gap in the performance of winding. Therefore, the three phase green power transformer market demand owing to this factor is set to surge.

Challenges

• High Initial Cost of Three Phase Green Transformer - A usual core is distributed in all three units of a three-phase transformer. Hence, in case a unit is damaged or faulty, the entire three-phase transformer needs to be clouded down. Moreover, the cost of repairing three-phase transformers is greater in contrast to the single ones since each system requires to be changed, which is costly. As a result, the price of defective units is much higher, and also it is tougher to get the system repaired. Therefore, this factor is predicted to hamper the three phase green power transformer market expansion for three-phase green power transformers over the coming years. 
• Limited Capacity of Power
• Lack of Awareness Among End-user Industries Regarding its Uses