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Transformer Market 2019 Emerging Trends, Competitive Analysis, Development Status and Industry Expansion Strategies 2023

Transformer Market
Transformer Market

Transformer Market Scenario

The global transformer market was valued at USD 39,316.8 Million in 2016 and is estimated to reach USD 64,514.9 Million by 2023 with a CAGR of 7.43% over the forecast period.

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.

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The global rise in conventional and non-conventional power generation is creating a wide scope for the development of electrical components on large scale. The biggest new investment over the succeeding decade will be in China and India as they seek to encounter rising electricity demand while renovating their grids. Developed countries will also be investing significantly, particularly in smart grid infrastructure and renewable energy integration. Transmission and distribution investment is expected to be significant in all major geographies. The growing urbanization and industrialization with development of new data centers across the world, are continuously enhancing the technological aspects. This advancement has created a growing demand for electrical appliance and infrastructure in utility, residential & commercial and industrial sectors.

Transformer Market Competitive Dashboard:

  • ABB,
  • Eaton Corporation,
  • Schneider Electric,
  • Siemens AG,
  • Crompton Greaves,
  • Mitsubishi Electric Corporation,
  • Toshiba Corporation,
  • Bharat Heavy Electricals Limited,
  • Hyosung Power & Industrial Solutions and
  • SPX Transformer Solutions

Transformer Market Segmental Overview:

The transformer market has been segmented based on cooling type, power rating, type, insulation, and end-user.

Global Transformer Market, By Type

  • Distribution Transformer
  • Power Transformer
  • Others

Global Transformer Market, By Power Rating

  • Small Power
  • Medium Power
  • Large Power

Global Transformer Market, By Cooling Type

  • Oil-Cooled Transformer
  • Air-Cooled Transformer

Global Transformer Market, By Insulation

  • Dry Type
  • Liquid-Immersed

Global Transformer Market, By End-User

  • Utility
  • Residential & Commercial
  • Industrial

Global Transformer Market, By Region

  • Americas
  • Europe
  • Asia Pacific
  • Middle East & Africa

Scope of the Report

This study provides an overview of the global transformer market, tracking five market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for Americas, Europe, Asia Pacific and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global transformer market by type, by end-users, and by regions.

Regional Analysis:

The global transformer market is segmented by prominent regions as Americas, Europe, Asia Pacific and Middle East & Africa.

The Americas market for transformers is majorly divided into North America markets of the U.S., and Canada, along with Brazil, Argentina and Rest of Americas. America’s economies are expanding their generating capacity through high investments in renewable energy resources.

The Europe transformer marker is expected to witness phenomenal growth during the forecast period owing to facilitating the expansion of the market through rise in the industrial growth, aging infrastructure which is leading to investment in smart grids, rising production of electricity and growing demand for green energy.

Asia Pacific is the fastest growing market for the global transformer market. The incessant need to modernize and improve existing distribution infrastructure to assist the mounting demand for electricity will lead to an optimistic growth of the transformer market over the forecast period. and the transformer market.

The Middle East & Africa transformer market is divided into Middle East, and Africa. Middle East & Africa has a growing market for the global transformer.

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