Market Research Report
Global Power Transformer Market Research Report - Forecast to 2023
|Published by||Market Research Future||Product code||711687|
|Published||Content info||90 Pages
Delivery time: 1-2 business days
|Global Power Transformer Market Research Report - Forecast to 2023|
|Published: August 8, 2018||Content info: 90 Pages||
Power transformer can be defined as a technology that delivers a preference to source power as and when required without lapsing to conventional energy sources. These energy systems are extremely efficient and acts as flexible generation when needed. Power transformer systems can contribute to ideal use of generation and grid assets, and support emissions reductions in numerous economic sectors. The global power transformer market is expected to grow and register a CAGR of 8.65% over the forecast period. Some of the prominent drivers supporting the growth of global power transformer market are rise in transmission and distribution infrastructure investments and growth in renewable energy sector. However, high initial costs of power transformeris the restraining factor for the power transformer market.
For the study, the global power transformer market has been segmented based on cooling type, power rating and region. Based on the cooling type, the market has been segmented into oil-cooled transformer and air-cooled transformer. Among them, oil-cooled transformer segment is dominating due to the winding and core are immersed in mineral oil, which is a good electrical insulator to block the current flow through the oil for efficient heat removal from the windings and core. Based on the power rating, the market has been segmented into small power, medium power and large power. Among them, small power dominating the market transformers as it includes more than three windings, single phase, auto-transformer, special cooling, and low noise generating. On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
The key players of the Global Power Transformer Market are ABB Ltd., (Switzerland), Schneider Electric (France), Siemens AG (Germany), Crompton Greaves Ltd. (India), Mitsubishi Electric Corporation (Japan), Toshiba Corporation (Japan), Bharat Heavy Electricals Limited (India), Hyosung Power & Industrial Solutions (South Korea) and SPX Transformer Solutions, Inc. (U.S.), SGB-SMIT Group (Germany), and Hyundai Electric & Energy Systems Co., Ltd. (South Korea).
Geographically, Asia Pacific is the fastest growing region for global power transformer market. The region is need to update and upgrade its existing transmission and distribution infrastructure to serve the growing demand for electricity will lead to a growth of the transformer market over the forecast period. In the emerging economies of Asia-Pacific, extensive power plant capacity additions, economic growth, and the need to improve access to electricity are driving grid extension in power transformer market.
Furthermore, the increased investment and spending in the transmission and distribution sector due to fullfilment of electricity in rural areas is the driving force for power transformer market. Asia Pacific has one of the fastest growing developing economy in terms of power and infrastsructure and there have been various government programs to bring technological advancement and allocate budget for developments in this particular sector.
Rest of the World