Power Transformer Market Share, Opportunities, Industry 2030

Power Transformer Market Share, Opportunities, Industry 2030

Segments - Global Power Transformer Market by Product Types (Core, Dry Insulation, and Single Phase), Applications (Small Power, Medium Power, and Large Power), and Regions (North America, Asia Pacific, Europe, Middle East & Africa, and Latin America), Forecasts, 2021-2028

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Author : Raksha Sharma
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Fact-checked by : Vineet Pandey
https://growthmarketreports.com/Swapnil
Editor : Swapnil Hedau

Upcoming | Report ID :EP-4399 | 4.8 Rating | 60 Reviews | 197 Pages | Format : PDF Excel PPT

Report Description


The global power transformer market is anticipated to expand at a substantial CAGR during the forecast period, 2021-2028. A power transformer accepts low voltage generator electric power and distributes it through the power grid network's distribution channels. It's a crucial part of the power grid since it allows power to be transferred from one network to another without altering frequency. Although low-voltage energy generation is cost-effective, it produces a lot of in-line current.

Global Power Transformer Market summary

The loss of line current increases transfer of high current. The transformer Increases the voltage of incoming energy. On the other hand, it provides more efficient power transmission. As a result, the voltage is generally increased using a power transformer. These transformers are used in applications that require high voltage and minimal loss. Moreover, they provide high efficiency and offer improved insulating and cooling features.

Power transformers require a long build time and a large financial investment. Furthermore, high-quality electrical grade steel is produced by just a few companies. Power transformers are also excessively expensive due to the expense of constructing the infrastructure necessary for reliable and long-term transformer operation. The entire cost of transformers might be reduced with enhanced monitoring systems and the use of superior materials. As a result, their overall life expectancy increases.

Over the last decade, the global energy output has risen from 15,409.0 TWH in 2000 to 23,536.5 TWH in 2014. As a result, increasing requirements for worldwide T&D network expansion and T&D infrastructure is estimated to require a total investment of USD 1.9 trillion by 2024 to accommodate rising energy demand across the globe. This includes investment for substations, electrical lines, and supporting equipment, as well as developing technologies.

  • Rising demand for power transformers owing to increasing government state bodies' emphasis on the T&D network development efforts is anticipated to propel the market growth.
  • Increasing research & development drives the deployment of cutting-edge techniques, ensuring social conformity, which is spurring the market growth.
  • Growing usage of transformers for household and commercial applications is driving the demand for insulated power transformers.
  • The integration of wet insulated power transformers with smart energy grids, as well as the installation of renewable energy grids with ecologically friendly coolants are major factors that can fuel the market growth.
  • Increasing cost of power transformers due to use of copper, steel, and aluminum can restrain the market growth.
  • High cost of transformer installation and transportation has a detrimental impact on the power transformer market.
  • Rising environmental concerns and rising demand for electrical energy are expected to foster the growth of the market.

Scope of Report:

The report on the global power transformers market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Power Transformer Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Product Types (Core, Dry Insulation, and Single Phase), Applications (Small Power, Medium Power, and Large Power)

Regional Scope

Asia Pacific, North America, Europe, Middle East & Africa, and Latin America

Report Coverage

Market scope, analysis, regional analysis, growth facts, restraints, opportunities, covid impact and revenue forecast

Key Players Covered in the Report

Hitachi ABB Power Grids, CG Power and Industrial Solutions Ltd., Siemens AG. Schneider Electrics AG, and TBEA Co. Ltd.

Power Transformers Market Segment Insights

Core segment is expected to register a robust CAGR

Based on product types, the market can be divided into core, dry insulation, and single-phase transformer. The core segment is expected to register a robust CAGR during the forecast period. Core is one of the integral part of power transformer. Growing requirement for high-quality core transformer to reduce the no-load losses is propelling the segment growth.

Global Power Transformer Market product types

Large power segment to acquire a larger market share

On the basis of applications, the market can be classified as small power, medium power, and large power. The large power segment to acquire a larger market share during the forecast period. Increasing demand for energy and rising number of large-scale projects are major drivers of the market growth.

Global Power Transformer Market applications

Asia Pacific is estimated to account a large market share

In terms of regions, the market can be segmented into Asia Pacific, North America, Europe, Middle East & Africa, and Latin America.  Asia Pacific dominated the market due to the increase in replacement of the existing transmission and distribution infrastructure in order to meet rising power demand in the region. According to the Asian Development Bank, the transmission and distribution infrastructure improvements is estimated to requires USD 1.7 trillion per year. China has outstripped other countries in terms of investment, since it is building high-voltage electrical transmission lines to boost power output to its coastal load centers. On the other hand, Europe is anticipated to account for a considerable market share owing to beneficial policies implemented by various government state agencies for significant infrastructural development.

Global Power Transformer Market regions

Segments

By Products Types

  • Core Type
  • Dry Insulation
  • Single Phase

By Applications

  • Small power
  • Medium power
  • Large power

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

By Key Players

  • Hitachi ABB Power Grids
  • CG Power and Industrial Solutions Ltd.
  • Siemens AG
  • Schneider Electrics AG
  • TBEA Co. Ltd.

Competitive Landscape

Key players competing in the market are Hitachi ABB Power Grids, CG Power and Industrial Solutions Ltd., Siemens AG. Schneider Electrics AG, and TBEA Co. Ltd.

Global Power Transformer Market keyplayers

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Power Transformer Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Power Transformer Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Power Transformer Market - Supply Chain
  4.5. Global Power Transformer Market Forecast
     4.5.1. Power Transformer Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Power Transformer Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Power Transformer Market Absolute $ Opportunity
5. Global Power Transformer Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Power Transformer Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Power Transformer Demand Share Forecast, 2019-2026
6. North America Power Transformer Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Power Transformer Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Power Transformer Demand Share Forecast, 2019-2026
7. Latin America Power Transformer Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Power Transformer Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Power Transformer Demand Share Forecast, 2019-2026
8. Europe Power Transformer Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Power Transformer Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Power Transformer Demand Share Forecast, 2019-2026
9. Asia Pacific Power Transformer Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Power Transformer Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Power Transformer Demand Share Forecast, 2019-2026
10. Middle East & Africa Power Transformer Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Power Transformer Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Power Transformer Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Power Transformer Market: Market Share Analysis
  11.2. Power Transformer Distributors and Customers
  11.3. Power Transformer Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Hitachi ABB Power Grids
     11.4.2. CG Power and Industrial Solutions Ltd.
     11.4.3. Siemens AG
     11.4.4. Schneider Electrics AG
     11.4.5. TBEA Co. Ltd.

Methodology

Our Clients

FedEx Logistics
Honda Motor Co. Ltd.
sinopec
Dassault Aviation
Siemens Healthcare
Nestle SA
The John Holland Group
General Electric