Power Transformers Market – Global Opportunities & Forecast, 2020-2027
This study of the market provides an overview of the
existing market trends, drivers, restrictions, and metrics and also offers a
viewpoint for important segments. The report also tracks product and services
demand growth forecasts for the industry. The report mentions growth parameters
in the regional markets along with major players dominating the regional
growth.
The report offers detailed profile and data information
analysis of the leading companies in the Power Transformers Market:
·
ABB Ltd
·
Siemens AG
·
GE Company
·
Toshiba Corporation
·
Crompton Greaves Limited
·
Hyundai Heavy Industries Co., Ltd
·
Mitsubishi Electric Corporation
·
Bharat Heavy Electricals Limited
·
Hyosung Group
·
SPX Transformer Solutions, Inc.
The key drivers of the Power Transformers Market are as
follows:
The significant factors driving the
growth of the global power
transformers market include the
growth in the renewable energy sector, rapid technological advancement in
existing power grids, and rising initiatives and demand for smart grid
development. Governments worldwide are introducing various initiatives for the
deployment of smart grid technology. It helps to decrease greenhouse gas
emissions and improves the energy efficiency of producing and using electricity
in homes, businesses, and public institutes. This technology is important for
boosting the development of plug-in hybrid electric vehicles. A smart grid is
an essential foundation for the incorporation of renewable energy into the
electrical grid. The advancements in power transformers will help in addressing
the requirements of smart grids. It will enhance energy security, provide
higher grid utilization, urban air quality, and reduce greenhouse gas
emissions. Additionally, transformers offer an adequate amount of power
required by the systems. Therefore, strong demand and growing initiatives for
the development of a smart grid will surge the growth of the market. On the
other hand, the high price of power transformers in comparison to conventional
transformers will hamper the growth of the market.
Based on region, North America is expected to dominate the
market during the forecast period due to the increasing industrialization and
urbanization in the region. Moreover, the Asia-Pacific region is anticipated to
grow at a higher CAGR during the forecast period owing to rapid economic
development and the rising requirement for reliable power supply in the region
driven by the growing population rate.
For Additional Insights,
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The study objectives of this report are:
1.
To study and forecast the size of the market.
2.
To analyze the key players, SWOT analysis, value,
and market share for the leading players.
3.
To define, describe, and forecast the market by different
segments.
4.
To analyze the market potential and advantage,
opportunity and challenge, restraints and risks.
Segmentation of the Power Transformers Market:
Breakup by Rating:
·
Small Power Transformer (Up to 60MVA)
·
Medium Power Transformer (61 - 600MVA)
·
Large Power Transformer (Above 600MVA)
Breakup by Cooling Method:
·
Oil-Cooled
·
Air-Cooled
Breakup by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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