Transformer Market Research, Gross Margin, Outstanding Growth by 2023

Posted by Anvi on March 27th, 2020

Transformer Market Scenario

Transformer systems have been governing the renewable and non-renewable energy markets in recent years owing to its ability to transmit & distribute the energy in the form of electricity through reducing the current ampere and increasing the voltage and vice versa, to supply power according to end-user needs.

Transformers cover a very diverse subject area that encompasses both, small and very large components. Transformers can be segmented on the basis of type as distribution transformer, power transformer and others, which includes instrument transformer. Transformer systems have been governing the renewable and non-renewable energy markets in recent years owing to its ability to transmit & distribute the energy in the form of electricity through reducing the current ampere and increasing the voltage and vice versa, to supply power according to end-user needs.

Industry Segmentation

The Transformer Market Research report has been segmented based on cooling type, power rating, type, insulation, and end-user.

On the basis of cooling type, Oil-Cooled Transformer accounted for the largest market share of 57.2% in 2016, with a market value of USD 22,493.1 million. It is projected to register the highest CAGR of 7.68% during the forecast period.

Based on power rating, Small Power accounted for the largest market share of 45.5% in 2016, with a market value of USD 17,881.3 million; projected to witness a CAGR of 7.57% during the forecast period.

Based on type, Power transformer accounted for the largest market share of 49.7% in 2016, with a market value of USD 19,540.5 million; projected to register a CAGR of 8.55% during the forecast period.

Based on insulation, Liquid-Immersed accounted for the largest market share of 58.6% in 2016, with a market value of USD 23,039.7 million; projected to register a CAGR of 7.61% during the forecast period.

Based on End-User, Utility accounted for the largest market share of 43.1% in 2016, with a market value of USD 16,938.5 million; projected to witness a CAGR of 7.79% during the forecast period.

Regional Analysis   

The regional evaluation of the transformer market covers regions such as Europe, the Americas, Asia Pacific, and Middle East & Africa. The economies in the Americas region are producing a high capacity through elevated investments in renewable energy resources. This is generating extensive opportunities for the electrical component market in this region. Grid development and cross-border expansion of the electrical lines are positively motivating the transformer market in the Americas region. The European transformer market is anticipated to observe impressive growth in the forecast period due to simplification of the market through an increase in industrial development, aged infrastructure, which is adding to investment in smart grids, increasing production of electricity, and mounting demand for green energy. The Asia Pacific region is the fastest intensifying market for the transformer market globally. The continuous need to modernize and expand current distribution infrastructure to back the rising demand for electricity will contribute to the positive growth of the transformer market throughout the forecast period.

Leading Players

The key players of global transformer market are ABB Ltd., (Switzerland), Eaton Corporation plc (Ireland), Schneider Electric (France), Siemens AG (Germany), and 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.) are among others.

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Anvi

About the Author

Anvi
Joined: October 25th, 2019
Articles Posted: 461

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