Power Transformer Market Size By Core (Closed, Shell, Berry), By Winding (Two Winding, Auto-Transformer), By Installation (Outdoor, Indoor), By Cooling (Dry Type {Self-Air, Air Blast}, Oil Immersed {Self-Cooled, Water Cooled, Forced Oil}), By Insulation (Gas, Oil, Solid, Air), By Phase (Three Phase, Single Phase), By Rating (100 To 500 MVA, 501 To 800 MVA, > 800 MVA), By Mounting (Pad, Pole, PC/PCB), By Application (Residential & Commercial {Hotels, Hospitals, Societies}, Utility, Industrial {Railways, Cement, Power, Oil & Gas}), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Industry Trends

Global Power Transformer Market size was valued at over USD 25 billion in 2019 and is anticipated to witness an annual installation of over 42 thousand units by 2026.
 

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Power transformer is a static apparatus working on two or more windings which, through electromagnetic induction, transform a system of alternating current and voltage into another system of current and voltage usually of different values operating at the same frequency for the transmission of electrical power. Th study incorporates a detailed analysis of the power transformer installation trends in various countries & regions across residential, commercial, industrial & utility applications. Furthermore, the study is aligned with information published by governing authorities including IEA, EU, ENDSO, DOE, ITA, CEA, & company press releases.
 

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Increasing integration of renewables to the grid will fuel the demand for efficient power transformers

Increasing regulatory focus toward the adoption of sustainable energy sources to promote emission reduction has instigated the power transformer demand. Ambitious renewable targets coupled with redundancy toward the expansion of conventional electrical networks have instituted a favorable business scenario. Stringent government policies toward the establishment of sustainable energy mix across industries adhered by the utility-aided large-scale renewable expansion will further proliferate the business outlook. Positive outlook toward renewable integration coupled with the rapid enhancements across the existing transmission networks will considerably drive the power transformer market growth.
 

Extensive applicability in high voltage applications and harsh operating conditions strengthen the demand for shell power transformers

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Compact design, easy transportation and short circuit reliability are some of the vital parameters that will boost their demand of shell type power transformers. Increasing applicability across harsh operating conditions along with growing deployment at critical nodes in high voltage transmission networks, all types of power generating stations including nuclear plants with high reliability requirements and strictest quality will amplify the industry size. Moreover, high dielectric, mechanical and thermal performance in alignment with better control of the leakage magnetic flux will stimulate the product adoption.
 

Ability to provide effective power transformation to augment the auto power transformer market demand

Ability to reduce ohmic & core loss owing to the reduction of transformer material in conjunction with the propensity to provide improved voltage regulation will drive the auto transformer market growth. Compact size, light weightiness and lower cost when compared to its available alternatives are some of the key features that will fuel the product adoption. Moreover, integration of smart monitoring technologies to avoid systems failures will enhance the system reliability & security, thereby augmenting the industry growth.
 

Limited material requirements when compared to its counterparts will stimulate the adoption of outdoor power transformers

Outdoor power transformers will grow over 5% by 2026. Extensive suitability across high voltage application areas along with limited material requirements will spur the industry demand. Elimination of concerns pertaining to fire hazards, optimum cooling strength aligned with limited maintenance requirements when compared to its counterparts will boost the product deployment. In addition, ongoing expansion of cross-border networks along with the introduction of ultra-high power HVDC & HVAC transmission technology for long distance transmission will further boost the product demand
 

Propensity to enable safe & reliable operation will positively influence the air insulated transformers

Air insulated power transformers have gained appreciable market penetration subject to their safe & reliable operations and flexible product applications. Ability to avoid combustibility, environment friendly operations and limit secondary effects of internal failure has enhanced the product adoption. It allows complete integration of substation equipment with resultant space and cost savings, thereby fueling the product penetration.
 

Robust demand from an extensive range of applications is driving the 100 MVA– 500 MVA transformers growth

100 MVA– 500 MVA transformers will witness growth owing to their compact size, low installation cost and extensive demand across healthcare, electric power, and oil & gas industries. Increasing deployment of these units at generating stations and electrical substations for converting electrical power to high voltages for transmission will further drive the industry growth.
 

Ability to cater the long-distance power transmission to positively influence pole mounted installations

Pole mounted transformers will witness substantial adoption on account of distant load centers across limited grid accessibility. Easy installation on single pole structures and reasonably compact size will escalate the product adoption, thereby minimizing vandalism and reducing the risk of injury to animals. Pole mounted transformers have gained market penetration owing to their ability to service rural and urban residential & commercial loads.
 

Ongoing upgradation of existing electrical networks will stimulate the product deployment across various applications

Growing emphasis toward the integration of broad-ranging frequency distribution links coupled with the rising energy-efficiency concerns will stimulate the residential & commercial power transformer market size. Increasing investments by private and governmental organizations for electrification programs will further complement the industry trends. In 2014, the African government launched “Beyond the Grid sub-Initiative” to support off-grid electricity access to achieve its goal of adding 60 million new residential & business connections by 2030.
 

Ongoing retrofitting of the existing networks along with growing cross-border electrical network expansion will significantly drive utility power transformer growth. Increasing emphasis on the development of energy-efficient and renewable electricity corridors across varied nations will further stimulate the product demand.
 

Increasing focus toward meeting the burgeoning power demand will boost the Asia Pacific industry size

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The North America market outlook will witness substantial growth on account of steady penetration of sustainable energy sources along with enhanced focus toward upgrading the aging power infrastructure. Moreover, recent advancements in the asset health monitoring systems to ensure the system security & reliability in line with accelerating investments toward the development of long-distance transmission networks will propel the industry dynamics. The stringent framework on grid modernization coupled with support mechanisms and endowments provided by state-owned utilities will further propel the industry growth.
 

Enhanced government efforts to augment exiting power capacities & infrastructure to meet the burgeoning electricity demand will foster the overall Asia Pacific power transformer industry growth. Increased electrification rate coupled with government funding toward the establishment of new transmission lines will boost the industry size. In November 2019, ADB approved USD 300 million toward the expansion of transmission lines across Bangladesh. Rapid urbanization & industrialization across emerging economies along with focus toward sustainable electric infrastructure will provide a thrust to business growth.
 

Product integrated R&D along with bulk manufacturing to lay influence on industry competence

Key participants catering to the power transformer industry comprise of ABB, Siemens AF, BHEL, Celme, Kirloskar Electric, Mitsubishi, Toshiba, Schneider, SPX, Voltamp, Hammond Power Solutions, Hyundai Heavy Industries, Crompton Greaves, General Electric, Daihen, Hyosung, amongst others. Industry players are focusing toward integrating smart technologies and digital solutions to promote energy efficient systems. Moreover, technological collaborations along with predictive maintenance & condition monitoring to ensure safe & reliable operations is becoming a focal point for leading giants.
 

Power transformer market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” and “USD” from 2015 to 2026, for the following segments:

By Core

• Closed
• Shell
• Berry

By Winding

• Two Winding
• Auto-Transformer

By Installation

• Outdoor
• Indoor

By Cooling

• Dry type
  • Self-air
  • Air blast
• Oil Immersed
  • Self-Cooled
  • Water cooled
  • Forced oil
  • Others

By Insulation

• Gas
• Oil
• Solid
• Air
• Others

By Phase

• Single phase
• 3 - phase

By Rating

• 100 to 500 MVA
• 501 to 800 MVA
• > 800 MVA

By Mounting

• Pad
• Pole
• PC/PCB
• Others

By Application

• Residential & Commercial
  • Hotels
  • Hospitals
  • Apartments
  • Others
• Utility
• Industrial
  • Railways
  • Cement
  • Power distribution
  • Oil & gas
  • Others

The above information is provided on a regional & country basis for the following:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Russia
  • UK
  • Italy
  • Spain
  • Netherlands
  • Austria
  • Denmark
  • Sweden
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • New Zealand
  • Malaysia
  • Indonesia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Nigeria
  • Egypt
  • Kuwait
  • Oman
  • Israel
  • Turkey
• Latin America
  • Brazil
  • Peru
  • Argentina