High power transformers are defined as power transformers with voltage ratings of 801 MVA (mega volt amp) to 1200 MVA and those which convert voltages, usually from higher to lower, from one stage or phase configuration to another. These high-power transformers are used for electrical insulation, power distribution, control and instrumentation.
The high power transformers market consists of sales of high power transformers by entities (such as organizations, sole traders, or partnerships) primarily engaged in their production for various applications within the energy and electrical sectors. High power transformers are critical components used in electrical power transmission and distribution systems to step-up or step-down voltage levels, facilitating efficient energy transfer across long distances or between different voltage systems.
The global high power transformers market was valued at $8,697.17 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 2.0%.
Rise In Demand For Electric Vehicles
During the historic period, the rise in demand for electric vehicles propelled the growth of the high-power transformers market. Electric vehicles (EVs) are vehicles that are powered by one or more electric motors, using electrical energy stored in rechargeable batteries or another energy storage device. Electric vehicles contribute to increased high-power transformer demand and necessitate upgrades and adjustments to the electrical infrastructure, grid load management, distribution system upgrades and electricity demand. For instance, in May 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million in 2021 compared to 2020, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the rise in demand for electric vehicles drove the growth of the high-power transformer market.
Innovative Liquid-Filled Transformers With Transient Voltage Protection (TVP) Technology
Companies in the high power transformers market are developing innovative transformer technology, such as liquid-filled transformers with transient voltage protection (TVP) technology, to improve the reliability, efficiency and safety of their products. Liquid-filled transformers refer to transformers that are filled with a dielectric fluid, typically mineral oil or, less commonly, synthetic oil or silicone-based fluids. For instance, in November 2023, Hitachi Energy., a Switzerland-based energy industry company, launched liquid-filled transformers with transient voltage protection (TVP) technology, which is designed to protect distribution transformers from transient voltage. This technology is designed to provide complete protection to transformers and downstream magnetic equipment, making it the best fit for different network configurations and switching operations. The new solution for liquid-filled transformers was unveiled at the inauguration of Hitachi Energy's state-of-the-art transformer factory in Bac Ninh, Vietnam
The global high power transformers market is highly concentrated, with large players dominating in the market. The top ten competitors in the market made up to 79.2% of the total market in 2022.
High Power Transformers Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global high power transformers market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for high power transformers? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The high power transformers market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider high power transformers market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by phase, by cooling and by application.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the high power transformers market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by phase, by cooling and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for high power transformers providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Phase: Single Phase; Three Phase
- 2) By Cooling: Dry Type; Oil-Immersed
- 3) By Application: Industrial; Utility
- Companies Mentioned: Schneider Electric; General Electric; Alstom SA; ABB Ltd; TBEA Co. Ltd.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; high power transformers indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.