Residential Air Insulated Transformer Market
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The global residential air insulated transformer market was assessed at USD 923.4 million in 2023 and is envisioned to grow at a CAGR of 7.4% by 2032. The market for air-insulated transformers predominantly used in urban residential buildings is gaining traction due to the lowering prices and enhanced safety. These types of transformers are also cheaper to operate, maintain and purchase than the liquid or gas insulated ones.
Therefore, they do not pose a threat of oil or gas leakages, making them perfect for general residential usage. The usage of air-insulated transformers is however limited due to them only being able to operate on low voltages and power, which is not ideal in cases of advanced requirements.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Residential Air Insulated Transformer Market size in 2023: | USD 923.4 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 7.4 |
| 2023 Value Projection: | USD 1.8 Billion |
| Historical Data for: | 2021 to 2023 |
| No of Pages: | 80 |
| Tables, Charts & Figures: | 20 |
| Segments Covered: | Winding |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Air-insulated transformers are a suitable change for households and low powered buildings due to the lower buying and maintenance cost. Air-insulated transformers are a safer alternative to oil filled ones, considering their lack of environmental contamination or fire risk, making them suitable for urban homes prioritizing safety and eco-friendliness.
The demand for air-insulated transformers, especially in densely populated regions of Asia Pacific, is increasing due to urbanization and smart grid technology. There is considerable growth in India and China owing to enormous investments in grid modernization as well as expanding residential networks. The major trend that is facilitating the power transformer sector is the smart grid technology.
Power transformers have now become essential components of smart grids due to their capability of efficient energy distribution coupled with real-time monitoring. This trend is prominent in Europe and North America where utilities are reinforcing grid structures to improve power efficiency and reliability.
By winding type, the residential air insulated transformer market segmentation is done as two winding type and auto transformer. Two winding segment is estimated to increase over 6.3 percent CAGR throughout the year 2032. The increased use of solar energy and wind power in households increases the requirement for transformers designed for variable load and continuous power transfer. These advanced transformers are caused by increasing smart grid technology. These technologies allow digital monitoring and control and increase the efficiency and reliability of power delivery to homes.
The U.S. residential air insulated transformer market is expected to grow beyond USD 430.4 million by 2032. Air-insulated transformers are becoming increasingly appealing for homes because of advanced materials and architectures that increase their performance and longevity. Stronger energy legislation from government bodies is forcing firms to come up with more efficient transformers. In addition, utility and developer expenditures for modern aged residential transformers are growing necessarily in order to provide consistent power supply for households.
Countries in Asia Pacific like India, China and Indonesia have increasing population which increases the housing demand. Expansion of cities requires advancement in electrical systems such as these reliable transformers in new densely populated residential areas. Investment by governments in urban development including housing, transport and utilities drives the need for transformers in new residential constructions.
GE, Eaton, ABB, Schneider Electric are one of the established companies that dominate the residential air-insulated transformer industry. Their reputation in the industry gives confidence on their products. These companies adapt to the changing world by developing new technologies and providing more solutions to more customers.
Some of the key market players operating across the residential air insulated transformer industry are:
Market, By Winding
The above information has been provided for the following regions and countries:
Major key players in the residential air insulated transformer industry include ABB, Arteche, Celme, CG Power, Daihen, Eaton, Elsewedy Electric, General Electric, Hyosung, Imefy, Kirloskar Electric, Mitsubishi Electric, Ormazabal, Pfiffner, Schneider Electric, Siemens Energy, Toshiba, and Trench.
The U.S. market for residential air insulated transformer is anticipated to exceed USD 430.4 million by 2032, driven by better materials and designs that boost performance and lifespan.
The residential air insulated transformer market size worth over USD 923.4 million in 2023 and is projected to grow at a CAGR of 7.4% through 2032, driven by cost efficiency and enhanced safety measures.
The two winding transformers segment is expected to witness a CAGR of over 6.3% through 2032, due to the rising adoption of solar and wind energy in homes.