Power Transformer Market size to exceed $37bn by 2026

Power Transformer Market is expected to surpass USD 37 Billion by 2026, as reported in the latest study by Global Market Insights, Inc.
 

Growing government focus toward the incorporation of renewable energy sources to encourage reduction in carbon emission has instigated the demand for power transformers. Ambitious sustainable energy targets along with redundancy toward the development of traditional electrical infrastructure have established a favorable business scenario. Strict government schemes toward the growth of renewable energy mix across industries followed by the large-scale industry expansion will further flourish the business outlook. Favorable outlook toward sustainable incorporation in line with ongoing advancements across the traditional transmission infrastructure will significantly foster the power transformer market share.

 

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

Easy transportation, short circuit reliability and compact design are the key parameters that will augment the shell type power transformers demand. Rising applicability across extreme operating conditions coupled with increasing installation at critical nodes in HV transmission infrastructure, across various types of electricity generating stations which include nuclear power plants with strictest quality and high reliability requirements will strengthen the industry growth. In addition, mechanical & thermal performance and high dielectric strength in conjunction to better control of leakage magnetic flux will complement the product adoption.
 

Browse key industry insights spread across 1030 pages with 2390 market data tables & 40 figures & charts from the report, “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, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026”in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/power-transformer-market-report
 

Capability to provide efficient power transformation to stimulate the global auto power transformer industry demand

Capability to reduce core & ohmic loss on account of the decrease of transformer material in accordance to the tendency to offer improved voltage regulation will complement the overall auto transformer market share. Light weight, lower cost in comparison to its competitive counterparts and compact size are the key features driving the technological adoption. Furthermore, adoption of smart monitoring techniques in order to avoid system failures will escalate the system security & reliability, thereby favoring the business growth.
 

Limited material requirements in comparison to its available counterparts will boost the incorporation of outdoor power transformer units

Outdoor power transformer market demand in anticipated to grow at a rate of over 5% by 2026. Significant suitability across HV application areas in line with constrained material requirements will positively sway the industry potential. Elimination of concerns subject to optimum cooling strength, fire hazards aligned with low maintenance requirements in comparison to its counterparts will stimulate the product installation. Moreover, rapid development of cross-border grid infrastructure in line with establishment of ultra-high-power HVAC & HVDC transmission technology for long route transmission will further encourage the product demand.
 

Eminent participants across the power transformer market include Siemens AF, ABB, BHEL, Kirloskar Electric, Schneider, Toshiba, Mitsubishi, SPC, Hammond Power Solutions, Voltamp, Crompton Greaves, Hyundai Heavy Industries, Hyosung, Daihen, GE amongst others. Furthermore, technological collaborations coupled with predictive condition & maintenance monitoring to ensure reliable & safe operations acts as a focal point for leading industry giants.
 

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