Energy & Environment Industry Today

Power Transformer Market Anticipated to Exceed Growth Rate of 8% Annually from 2017 - 2023

Power Transformer Market by Cooling Type (Oil-Cooled and Air-Cooled), by Power Rating (Small Power, Medium Power and Large Power) and by Region - Global Forecast To 2023
Published 24 January 2018

Market Research Future published a Half Cooked research report on “Global Power Transformer Market Research Report - Forecast to 2023”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023

ABB Group (Switzerland), Siemens Ltd. (Germany), General Electric Company (USA), Crompton Greaves Ltd. (India), Toshiba Corporation (Japan), Hyundai Heavy Industries Co., Ltd. (South Korea), Mitsubishi Electric Corporation (Japan), Hyosung Corporation (South Korea), Bharat Heavy Electricals Limited (India) and SPX Transformer Solutions, Inc. (U.S.A). among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global power transformer market.

Power Transformer Market – Overview

The term power transformer is generally used to refer to transformers with a rating of 500 kVA or greater. Power transformers are used in distribution systems wherever there is a need to interface between different voltages levels i.e. to step up and step down voltages. Power transformers are generally of the liquid-immersed type. However, power transformers used for indoor applications may be air-cooled. 

A power transformer is made up of a coil enclosed around an electromagnet that transfers the electricity. Unlike distribution transformers that operate at an optimum efficiency of only 60-70%, power transformers are designed to operate at 100% efficiency. Moreover, power transformers are intended to sustain high voltages, while distribution transformers are intended to handle lower ones. Power transformers transmit power to distribution transformers, so that distribution transformers can deliver small amounts of power to each and every user.

As power transformers help step up or down the voltage level in the high voltage transmission network, they are used in numerous electronic circuits. They are available in various types and applications. The main application of power transformer is the transmission and distribution of electrical power. These transformers are widely used by power plants, industrial plants and conventional electric utility companies. . The constant need for electricity and the unstable electricity supply situation in most developing countries will aid in the growth of the power transformers market over the forecast period. However, averseness of governments worldwide in initiating capital inducement projects can hinder the power transformer market. Also, the high cost of transformers and that of safety instruments & backup structure obstructs optimal utilization of power transformers globally. As per the study conducted by Market Research Future, the global market for power transformer is likely to grow at the CAGR of around 8%.

Geographically, the global power transformer market has been divided into North America, Europe, Asia Pacific and Rest of the World. Currently. The power transformer market is in the growth stage. This is due to the increase in demand for power, and in cross-border power transmission, global initiatives to use more renewable and non-conventional energy sources, smart grids, & the global need to upgrade transmission grids boost the global power transformer market. The Asia-Pacific region is the leading market for power transformers market and is followed by Europe. The rapid industrial development in the countries such as India and China where there are issues with continuous reliable electricity supply, is driving the market for power transformers. Also R&D and utilization of ultra-high voltage transformer in China and India will drive power transformer market.

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Industry News
  • In September, 2017 – ABB announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market.
  • In December, 2017 – Siemens further expands its leadership role in industrial digitalization. Siemens is the first company worldwide to set up 20 centers for digital customer applications in the industrial sector.
  • In October, 2016 – Power management company Eaton announced that it has expanded its line of popular PowerXL Series DG1 Power Transformer to include a new, more powerful Frame 6 option. Designed for global commercial, industrial and original equipment manufacturer (OEM) customers, the new Eaton engineered drive increases available power from 150 to 250 horsepower (hp), affording customers’ greater agility, reliability, and safety for their applications.
Power Transformer Global Market – Segmentation

The scope of global power transformer market is segmented into two major segments which are explained below:

By Cooling Type
  • Oil-Cooled
  • Air-Cooled
  • Power Quality Meters
By Power Rating
  • Small Power
  • Medium Power
  • Large Power
Power Transformer Global Market - Competitive Analysis

The global market for power transformer is one of the most technological advance market. To maintain the market position and to drive the market growth, all the major players continuously strive for technological development in their power transformer product variants. The power transformer market consists of numerous global, and local vendors. Several global vendors offer high-quality products at competitive prices than the local vendors. The existing vendors will try to gain more market shares by expanding their product portfolio and introducing innovative products. Owing to technological advancements, the competitive environment among the players in the power transformer market will intensify in the coming years.

View Report Details @ https://www.marketresearchfuture.com/reports/power-transformer-market-3251

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