Power Transformers Market Research Report
The GMI Research expects the power transformers market to
expand at a significant rate. From a regional perspective, the Asia-Pacific is
projected to grow at a higher due to the increasing economic development and
the rising need for reliable power supply in the region driven by the growing
population rate.
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Power Transformers Market Dynamics (including
market size, share, trends, forecast, growth, forecast, and industry analysis)
Key
Drivers
The rapid technological advancement in existing power grids,
the strong demand for smart grid development, the increasing renewable energy
sector are the major factors propelling the growth of the global power
transformers market share in terms of revenue. Governments worldwide
are introducing various initiatives for the deployment of smart grid
technology, as it aids in decreasing greenhouse gas emissions and improves the
energy efficiency of producing and using electricity in businesses, public
institutes, and homes. This technology is important for surging the development
of plug-in hybrid electric vehicles. A smart grid is an essential foundation
for the integration of renewable energy into the electrical grid. The
advancements in power transformers will aid in addressing the requirements of
smart grids. It will enhance energy security, decrease greenhouse gas
emissions, urban air quality, and offer better grid utilization. According to
the power transformers market analysis, transformers offer the needed
amount of power required by the systems. Thus, the rising demand and growing
initiatives for the development of the smart grid will further pay the way for
the growth of the market. On the other hand, the factor hindering the growth of
the market include the increased price of power transformers in comparison to
conventional transformer.
Rating
Segment Drivers
Based on the rating, the market is segmented into small
power transformer, medium power transformer, and large power transformer. The
small power transformer is predicted to increase at a faster CAGR over the
forecast period due to the high adoption of small power transformers across
various small industries and its customization option according to the
customer's need.
Power Transformers Market’s leading
Manufacturers:
·
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
Power Transformers Market Segmentation:
Segmentation
by Rating:
·
Small Power Transformer (Up to 60MVA)
·
Medium Power Transformer (61 – 600MVA)
·
Large Power Transformer (Above 600MVA)
Segmentation
by Cooling Method:
·
Oil-Cooled
·
Air-Cooled
Segmentation
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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