Power Transformer Market size to exceed $24bn by 2027

Power Transformer Market size is expected to surpass USD 24 Billion by 2027, as reported in the latest study by Global Market Insights, Inc.
 

Power Transformer Industry will grow owing to increasing renewable integration coupled with growing focus toward sustainable T&D networks. Favorable government policies toward adoption of renewable sources across the power grid network followed by stringent regulations to reduce GHG emissions will augment the business landscape. Moreover, increasing refurbishment demand for existing grid structure along with rising infrastructural spending will foster the industry demand.

 

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Rapid deployment of high voltage power grid networks will fuel berry type power transformer market

Berry core power transformer demand is estimated to surpass USD 6 billion by 2027. Growing applicability of these transformers across large commercial installations, industrial facilities, and utility scale power plants will positively influence the product demand. Significant rise in the electricity demand across the developing economies along with integration of digital platforms for power utilities will complement the business outlook. Ongoing distribution of these units across isolated & self-sustaining power grid will fuel the technological adoption.
 

Ongoing enhancements to provide effective power transmission systems will drive the product adoption

Two winding power transformers market will exceed an annual installation of 4,000 units by 2027. Ability to provide high impedance transformation and enhanced voltage stabilization and conversion will drive the product adoption. Ease of installation along with effective efficiency of these transformers when connected to renewable powered sources will further complement the product portfolio. Ongoing technological advancements followed by increasing R&D activities to provide continuous & effective power supply across the grid network will foster the industry dynamics.
 

Browse key industry insights spread across 1050 pages with 2401 market data tables & 50 figures & charts from the report, “Power Transformer Market Statistics 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 MVA, 101 MVA to 500 MVA, 501 MVA 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, 2021 – 2027in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/power-transformer-market-report
 

Paradigms shift toward sustainable energy outlook will complement the indoor power transformer market statistics

Indoor power transformer industry will surge on account of its high dielectric strength along with compact size and low installation cost. Favorable regulatory norms toward expansion of intra-state networks along with restructuring of the conventional grid infrastructure will positively sway the product demand. Government measures to expand the existing grid networks coupled with rapid installation of smart transmission & distribution technologies will augment the product adoption.
 

Increasing adoption of smart transformer units will foster the North America market trends

North America power transformer market is estimated to register over 3% CAGR through 2027. Increasing number of offshore wind & solar farms have incurred the requirement of efficient power transmission networks which will positively sway the product demand. Moreover, favorable measures to deploy the effective and low GHG emission transformer units across the upcoming pipeline projects will augment the business landscape.
 

Impact of COVID - 19 has resulted into delay in installation of new T&D networks followed by decline in project-based investments. However, increasing electricity demand across the industrial sector including healthcare manufacturing establishments will drive the business landscape.
 

Eminent players operating across power transformer market includes Siemens, ABB, BHEL, Schneider, Mitsubishi, Celme, Kirloskar Electric, Toshiba, SPX Transformers, Voltamp, Hammond Power Solutions, Crompton Greaves, Hyundai Heavy Industries, GE, Hyosung, Daihen and amongst others.
 

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