Global Transformer Market size to exceed $90bn by 2026

Transformer Market size will surpass USD 90 Billion by 2026, as reported in the latest study by Global Market Insights, Inc.
 

The global transformer market is expected to grow on account of rising adoption of sustainable energy systems along with regulatory inclination toward energy efficiency. Grid integration of intermittent energy sources raise concerns pertaining to grid stability and frequency resonance which in turn thrust the demand for effective electricity supply infrastructure. Moreover, as energy efficiency has evolved as a primary objective for governments, the authorities have instituted norms and incentivization schemes for consumers to further adhere to the mandates. Henceforth, integration of renewable power networks along with energy efficiency concord pave favorable grounds for the refurbishment and deployment of existing and new electricity supply equipment.

 

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Long route transmission infrastructure to augment power transformer adoption

The distribution transformer market is expected to grow over 6% by 2025. Ongoing suburban migration coupled with rapid commercial expansion across developing economies have led to an increase in peak load demand and network complexities. In addition, domestic utilities have aligned focus towards the replacement of conventional single-phase networks with upgraded three phase infrastructure which in turn will thrust the demand for refurbished and new transformer units. Moreover, rising public and private objectives & reforms to effectively cater the demand and supply mismatch through investment schemes and regulatory mandates will positively influence the business dynamics.
 

Utilities to play vital role in structuring the overall industry landscape

Integration of varying frequency distribution infrastructure along with persisting energy-efficiency concerns will drive the utility-based transformer market. Ongoing expansion of UHV networks favored by the evolution of gas insulated lines (GIL) infuse a competitive business scenario. Moreover, the grid integration of small-scale renewable energy units adhered by incentives and grants thrust the demand for balanced electricity supply equipment. In addition, stringent environmental compliances in conjunction with the integration of smart monitoring & control technology will positively influence the product demand.
 

Browse key industry insights spread across 1004 pages with 2134 market data tables & 42 figures & charts from the report, “Transformer Market Size By Core (Closed, Shell, Berry), By Product (Distribution Transformer, Power Transformer, Instrument Transformer {Current, Potential}), 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, Single), By Rating (≤ 10 MVA, 11 To 60 MVA, 61 To 600 MVA, > 600 MVA), By Mounting (Pad, Pole, PC/PCB), By Application (Residential & Commercial {Hotels, Hospitals, Apartments}, Utility, Industrial {Railways, Cement, Power, Oil & Gas}), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, France, Russia, UK, Italy, Spain, Netherlands, China, Japan, South Korea, India, Australia, Saudi Arabia, UAE, Qatar, South Africa, Nigeria, Egypt, Brazil, Peru, Argentina), Price Trends, Competitive Market Share & Forecast, 2020 – 2026in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/transformer-market
 

Dry type transformer technology to infuse strong industrial competence

Technological advancement in adherence to regulatory inclination toward the replacement of conventional insulation technologies to attain environmental feasibility will foster the dry type transformers market. Eradication of spill and leakages related with oil-based counterparts favored by consistent operations across extreme climatic applications will strengthen product adoption. Although, high capital expenditure along with comparatively lower operational efficacy hamper deployment however, resistivity to short circuits & upsurges coupled with operational safety will augment the industry outlook. In addition, environmental mandates in coherence with reforms to render safe operations across critical power applications will further infuse a competitive business scenario.
 

Refurbishment of existing electric infrastructure to influence product demand across the U.S.

Transformer industry across the U.S. is set to exceed USD 8 Billion by 2026. Ongoing restructuring of the conventional grid mechanism augmented by integration of advance digital platforms will drive product adoption. Regulatory inclination towards the assimilation of effective grid support systems coupled with positive consumer tendencies toward the adoption of sustainable electrical equipment will complement the industry outlook. In addition, channelizing of funds toward infrastructure development including the expansion of rail power supply networks will further boost the business landscape.
 

Digitization and smart technological implementations to achieve energy efficiency have been the primary objective for the leading industry players. Moreover, volume manufacturing practices along with technological collaborations have been the key to sustain industrial competence for regional industry participants. Key players across the transformer market include SPX, Celme, Voltamp, Hyosung, Kirloskar, Ormazabal, Daihen, GE, ABB, BHEL, Schneider, Siemens, Mitsubishi, Toshiba, Eaton, Hyundai and Crompton Greaves.
 

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