Transformer Market size to exceed $80bn by 2027

Transformer Market size is expected to surpass USD 80 Billion by 2027, as reported in the latest study by Global Market Insights, Inc.
 

Transformer industry is set to grow on account of increasing electrification rate and ongoing replacement of conventional energy generation technologies. Expansion of power grid networks along with stringent government regulations for minimizing power theft will positively sway the industry dynamics. Increasing R&D investments to introduce smart electrical equipment for controlling and monitoring the power demand will augment the business landscape.

 

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Rapid deployment of high-voltage power grid network will drive berry core-based transformer market

Berry core transformer demand is anticipated to surpass USD 20 billion by 2027. Significant increase in the electricity demand coupled with digitalization of power utilities will positively influence the business outlook. Wide scale utilization across isolated and self-sustaining grid networks will boost the technological adoption. Rapid deployment of high-voltage units to cater to increasing electricity demand across industries will accelerate the product demand.
 

Rising electricity demand followed by rapid urbanization across the emerging economies will sway the distribution transformer market share

Rising investments across the infrastructural sector subject to continuous development of commercial and residential establishments will fuel the distribution transformer industry statistics. Increasing population & rapid urbanization across developing countries coupled with development of Tier II & III cities will energize the business outlook. In addition, minimal operational & maintenance cost followed by ability to operate under extreme weather conditions will fuel the product demand.
 

Expansion of small-scale industries will drive auto transformer industry size

Auto transformer market will grow on account of rapid expansion of small-scale industrial facilities followed by robust development of micro grid networks. Shifting trend toward the development of high voltage lines to meet the increasing power demand primarily across the emerging economies will stimulate the industry analysis. Wide scale utilization of product across power generation plants including nuclear and hydro based stations have initiated a positive industry scenario.
 

Browse key industry insights spread across 1300 pages with 2753 market data tables & 44 figures & charts from the report, “Transformer Market Forecasts By Core (Closed, Shell, Berry), Product (Distribution Transformer, Power Transformer, Instrument Transformer {Current, Potential}), Winding (Two Winding, Auto-Transformer), Installation (Outdoor, Indoor), Cooling (Dry Type {Self-Air, Air Blast}, Oil Immersed {Self-Cooled, Water Cooled, Forced Oil}), Insulation (Gas, Oil, Solid, Air), Phase (Three Phase, Single Phase), Rating (≤ 10 MVA, 11 MVA To 60 MVA, 61 MVA To 600 MVA, > 600 MVA), Mounting (Pad, Pole, PC/PCB), Application (Residential & Commercial {Hotels, Hospitals, Apartments}, Utility, Industrial {Railways, Cement, Power, Oil & Gas}), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/transformer-market
 

Outdoor segment will gain traction on account of expansion of cross border networks

Outdoor transformer market exceeded an annual installation of 1 million units in 2020 and is projected to register over 8% through 2027. Favorable regulatory reforms toward expansion of cross border networks as well as revamping & restructuring of the existing grid infrastructure will sway the product demand. Ongoing measures to upgrade and expand the conventional grid infrastructure coupled with the rapid adoption of smart T&D technologies will stimulate the product adoption.
 

Increasing investments toward deployment of privately-owned substation will fuel transformer industry

Grid integration of renewable energy systems supported by grants and incentivization have infused the demand for > 10 MVA rated transformer units. Increasing deployment for privately-owned substations to cater to commercial establishments and manufacturing units will drive the industry size. Ongoing technological advancements to deploy cost effective, compact, and smart systems will fuel the product demand.
 

Favorable government norms toward deployment of zero carbon emission technologies will propel the dry type transformer market

Dry type transformer units will gain an appreciable momentum owing to increasing demand for zero carbon emission technologies along with rising electricity demand across commercial & industrial sector. Wide applicability of these units across long-range distribution networks including grid-isolated regions, micro grid networks and rural areas will further fuel the product demand. In addition, growing demand for compact, flame retardant and energy efficient transformers across primary and secondary distribution networks will enhance the product adoption.
 

Growing deployment of renewable energy will propel the Europe transformer market size

UK market accounted for over USD 1.5 billion in 2020. Rising investments toward integration renewable generation sources followed by stringent government norms toward installation of sustainable technologies will complement the industry landscape. Favorable government policies including incentives, feed-in tariffs, leveraging schemes, and subsidies to promote the deployment of clean energy sources will further augment the business landscape.
 

Coronavirus has overdue a wide range of projects including smart homes & apartments, infrastructural development and reorganization & renovation of projects, impacting the industry share. The requirement for huge investments to fight the pandemic in line with the continuing imbalance between demand & supply in the market may challenge the market growth. However, the companies are implementing creative & ingenious methods to engage manpower with an aim to fulfil their production needs.
 

Notable players operating across transformer market includes ABB, Arteche, SPX Transformer Solutions, PRFFNER Group, Kirloskar Electric, TRENCH Group, Elsewedy Electric, Amran, Mehru, Hyosung Power & Industrial Systems, Raychem RPG, General Electric, Celme, Siemens AG, Schneider Electric, CG Power and Industrial Solutions, Ormazabal, Daihen Corporation, Toshiba Corporation, Voltamp Transformers, IMEFY Group, Mitsubishi Electric Corporation, and Eaton Corporation.
 

 

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