Global governments are actively pursuing renewable energy to reduce greenhouse gas emissions, aligning with the power sector’s transition. The energy transition projects to see a 75% increase in global renewable capacity from 2022 to 2027. However, this shift is met with challenges as the demand for electric vehicles surges at a 23% annual rate, placing strains on existing grid infrastructure. Smart transformers are being deployed to enhance efficiency amid substantial growth in the global electric vehicle industry. Technological solutions like IoT sensors and digital twin technology integrated with transformers support utilities in transitioning to cleaner energy. PTR Inc. foresees an inevitable energy transition reshaping the design of legacy grid equipment, with a focus on smart transformers driving the future global market.

Follow this link to learn more: How the Energy Transition Is Impacting the Transformers Market

###

Be the first to know about our latest Insights