Special Transformer Market Top Leaders Shaping Industry are Mitsubishi Electric, Sunten Electric Equipment, Siemens, Alstom, Schneider Electric, Wolong Electric Group, Toshiba, Baoding Tianwei
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Global Special Transformer: Competitive Landscape
Major players operating in the global special transformer include, Mitsubishi Electric Corporation, Sunten Electric Equipment Co., Ltd., Siemens Ltd., Alstom, Schneider Electric, ABB, Wolong Electric Group Co.,Ltd., Toshiba India Pvt. Ltd., TBEA India, Baoding Tianwei Group, Wuzhou Transformer Co., Ltd., and Jinan XD Special Transformer Co.,Ltd.
The market for special transformers is highly competitive, owing to which key players are focused on adopting collaboration, partnership, merger, and acquisition strategies in order to strengthen their foothold in the market. For instance, in April 2016, Siemens Limited partnered with NTPC Limited, a key company engaged in the business of generation of electricity in India. The objective of the partnership is to install special transformers in super power thermal stations in southern India.
Global Special Transformer Market: Key Trends
Growth of the steel industry is one of the major factor contributing to increasing demand for special transformers. For instance, according to a report published by World Steel Organization, December 2017, 1516.0 million tons of steel was produced in 2016 and it increased to 1587.4 million tons in 2017 worldwide. The steel industry uses special transformers that facilitate appropriate supply of current across a wide range of applications, either via on-load or off-load regulation, resulting in process optimization.
Global Special Transformer Market: Segment Trends
Among product type, the phase shifting transformer is expected to grow with highest CAGR over the forecast period. Phase-Shifting Transformers (PST) help in protection of lines and transformers from thermal overload, which further helps in improving the stability of transmission system. Furthermore, PST controls flow of power between different networks, for parallel long distance overhead-lines or for parallel cables. Such characteristics of PST optimize energy loss in the electrical system.
Global Special Transformer Market: Regional Insights
The special transformer market in Asia Pacific accounted for the largest market share in 2017 and expected to remain largest over the forecast period. The factor attributed the growth of the market is growing demand for oil & gas in emerging economies such as India and China further leads to increasing number of oil and gas plants in the region. This factor is expected to further increase demand for special transformer in Asia Pacific.
Global Special Transformer Market: Taxonomy
By Product Type
-Electric Furnace Transformer
-Phase Shifting Transformer
-Electric Furnace Power Supply
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