Power Transformers Market (By Core: Closed, Shell, Berry; By Winding: Two Winding, Auto-Transformer; By Installation: Outdoor, Indoor; By Cooling: Dry type, Oil Immersed; By Phase: Single phase, 3 - phase; By Application: Residential & Commercial, Utility, Industrial) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

Category : Energy and Power | Delivery Format : PDF | Status: Published | Pages : 190

The global power transformer market size is projected to reach around US$ 39.4 Bn by 2027 and anticipated to grow at a CAGR of around 6.0% during the forecast period 2020 to 2027.

Market Dynamics

Rising demand for electricity from industrial sector, government of developed and developing countries is focused on development of smart grid which is resulting in demand for advanced power transformers in order to increase the energy efficiency and lower the power loss this is major factor expected to drive the growth of the global market. Governments across the globe are focused on catering the ongoing demand for electricity. Their approach toward development of power transmission and distribution is expected to increase demand for power transformers.

Major players focus on acquiring the business contracts in order to increase the profit ration is another factor expected to further support the growth of the target market.

  • In 2019, ABB won a contract from State Grid Corporation of China (SGCC) in order to supply converter transformers and high-voltage equipment for an 800 kilovolt (kV), ultrahigh-voltage direct current (UHVDC) transmission link.

In addition, players approach towards business expansion through strategic merger and acquisitions in order to increase the business presence and expand the customer base and inclination towards increasing the production capacity are factor expected to further augment the growth of target market.

  • In 2019, SPX Corporation expanded its Waukesha Electric Systems' manufacturing facility the enhancement in the building and infrastructure is expected to increase size of the facility by approximately 50 percent and extend the company's ability to manufacture large, high-voltage power transformers that are utilized by electric utilities, independent power producers and independent transmission operators.
  • In 2020, WEG signed a contract in order to acquired TESA’s one of its transformer factories located in Brazil. The factory is specialized in the manufacture of power transformers, shunt reactors and power autotransformers with voltage class up to 800kV and power ratings up to 500MVA. This acquisition will help the company to expand its business presence and enhance the product portfolio.

However, high cost associated to installation and changing raw material prices are factors expected to hamper the growth of the global market.

Technological advancements by the major players and development of innovative products are factors expected to create new opportunities for players over the forecast period.

Power Transformers Market Segment Analysis, 2019

The global power transformer market is segmented in to core, winding, installation, cooling, insulation, phase, rating, mounting, and application. The core segment is bifurcated into closed, shell, and berry. Among application the industrial sector is expected to account for significant revenue share in the global market.

Segment Analysis by Region

The market in North America is expected to account for major revenue share owing to high government spending on development of smart grid. In addition, growing deployment of renewable energy and increase in activities related to development of present grid is another factor expected to further support the growth of the target market.

Asia Pacific is expected to witness faster growth in the near future owing to rising demand for electricity. In addition, increasing in projects related to development of power distribution and transmission grid and major player’s inclination towards developing countries in order to increase the profit share is expected to support the growth of target market.

Competitive Landscape

The market is highly competitive due to presence of large number of players. In addition, new product launches and high investment for R&D activities is expected to further increase the competition in the market.

Report coverage

Market

 Global Power Transformers Market

Analysis Period

2016 – 2027

Base Year

2019

Forecast Data

2020 – 2027

Market Stratification

Core, Winding, Installation, Cooling, Phase, Application and Geography

Regional Scope

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

Report Coverage

Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

The market research study on “Power Transformers Market (Core: Closed, Shell, and Berry; Winding: Two Winding and Auto-Transformer; Installation: Outdoor and Indoor; Cooling: Dry type and Oil Immersed; Phase: Single phase and 3 – phase; Application: Residential & Commercial, Utility, and Industrial) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global power transformers market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global power transformers market segment by core, winding, installation, cooling, phase, application and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global power transformers market size and segment markets by core, winding, installation, cooling, phase, application and geography along with the information on companies operating in the market. The power transformers market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report ABB Limited, SPX Transformer, Celme, Kirloskar Electric, Voltamp Transformers, Hyosung Power & Industrial Systems, BHEL, Daihen Corporation, Schneider Electric, Mitsubishi Electric, Toshiba Corporation, CG Power, Hyundai Heavy Industries, Hammond Power Solutions, General Electric, and Siemens AG.

Market Segmentation

Market By Core

  • Closed
  • Shell
  • Berry

Market By Winding

  • Two Winding
  • Auto-Transformer

Market By Installation

  • Outdoor
  • Indoor

Market By Cooling

  • Dry type
  • Oil Immersed

Market By Phase

  • Single phase
  • 3 - phase

Market By Application

Residential & Commercial

  • Hotels
  • Hospitals
  • Apartments
  • Others

Utility

Industrial

  • Railways
  • Cement
  • Power distribution
  • Oil & gas
  • Others

Market By Region

North America

  • US
  • Canada

Europe

  • UK
  • Germany
  • France
  • Spain

Rest of Europe

  • Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Mexico
  • Rest if Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Meddle East & Africa


Frequently Asked Questions

Rising demand for electricity from industrial sector, government of developed and developing countries is focused on development of smart grid which is resulting in demand for advanced power transformers in order to increase the energy efficiency and lower the power loss this is major factor expected to drive the growth of the global market.

According to ARC (Acumen Research and Consulting), the global power transformer market size is expected to reach around US$ 39.4 Bn by 2027.

The global power transformer market is anticipated to grow at a CAGR of around 6.0% during the forecast period 2020 to 2027.

By application the industrial sector is expected to account for significant revenue share in the global market.

The market in North America is expected to account for major revenue share owing to high government spending on development of smart grid.

Asia Pacific is expected to witness faster growth in the near future owing to rising demand for electricity.

The players profiled in the report ABB Limited, SPX Transformer, Celme, Kirloskar Electric, Voltamp Transformers, Hyosung Power & Industrial Systems, BHEL, Daihen Corporation, Schneider Electric, Mitsubishi Electric, Toshiba Corporation, CG Power, Hyundai Heavy Industries, Hammond Power Solutions, General Electric, and Siemens AG.

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