Power Transformer Global Market Top Manufactures Analysis: ABB Ltd., Schneider Electric , Siemens AG, SPX Transformer Solutions, Inc., SGB-SMIT Group

Power Transformer Market Overview:-

Market Research Future (MRFR)’s latest study reveals that the global power transformer market is set to reach USD 34,510.2 million by 2023. The market is slated to soar high at strong CAGR during the forecast period (2018-2023). The increase in energy demand has subsequently has led to subsequent rise in electrical infrastructure projects. With the growth in number of projects, the market is expected to scale new heights in the foreseeable future. At present, a number of countries seem to have extensive power plant capacity additions and are focusing on improving access to electricity. This also affects the market size of power transformer market favorably.

Investments in the energy sector owing to infrastructural developments is expected to be the primary driver of the market. The staggering growth of the renewable energy sector thanks to policies outlined by developed nations to minimize emissions can be instrumental to the market demand in the coming years. High costs of power transformers can lead to hesitation among major leaders in industrial sectors but the demand for electricity can culminate to immense market demand over the forecast period.

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Industry News:-

In September, 2017 – ABB announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market.

In December, 2017 – Siemens further expands its leadership role in industrial digitalization. Siemens is the first company worldwide to set up 20 centers for digital customer applications in the industrial sector.

Dominant Players:

• Toshiba Corporation
• ABB Ltd.
• Hyosung Power & Industrial Solutions
• Bharat Heavy Electricals Limited
• Hyundai Electric & Energy Systems Co., Ltd.
• Schneider Electric
• SPX Transformer Solutions, Inc.

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Power Transformer Global Market – Segmental Analysis

The global market for power transformer is segmented based on cooling type, power rating and by region.

The cooling types are oil-cooled and air-cooled. Oil has a good thermal conductivity and is segmented into variants like oil natural air natural (ONAN), oil natural air forced (ONAF), oil forced air natural (OFAN), and oil forced air forced (OFAF). Oil-cooled transformers provide better conductivity than the air-cooled transformers and also posses high coefficient of conductivity resulting in natural circulation of oil.

The types of power rating are small power, medium power, and large power. The large power transformer segment is growing at a higher rate than others due to increase in high-voltage direct current (HVDC) transmission projects in many regions across the world. Apart from this, extra high voltage (EHV) and similar projects are being undertaken to reduce transmission losses between large distances. This also drives the growth of large power transformer market.

Research Methodology:-

At MRFR, our research analysts conduct a thorough objective analysis of the market when creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the market. Use of primary research strategies such as interviews with top-level decision makers of various leading companies in the relevant market combined with secondary research provides a thorough analysis of past and present trends in a forward-looking manner. Additionally, market size estimation and validation use both top-down & bottom-up approaches to obtain data from the demand and supply-side. Credible resources are employed to assist analysts to understand the nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameters in an effort to provide clients with a conclusive and dependable view of the future.

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