Power Transformer Market Recent Developments, Size, Share, Revenue & Forecast 2023 by Heavy Electricals Limited, Crompton Greaves Ltd., Hyosung Power & Industrial Solutions, Hyundai Electric & Energy Systems Co.

With global electrification and power backup rapidly becoming a reality, the demand, as well as market for transformers, is growing in countries where cities and villages are being electrified now or where arrangements are needed for power backup. Market Research Future (MRFR) has published a research report about the global power transformer market that adumbrates aggrandizement for this market at 8.64% CAGR (Compound Annual Growth Rate) between 2018 and 2023. By value, the market has been figured to be worth the US $ 34,510.2 mn by the end of forecast period.
The distinctive factor supporting the global power transformer market growth is the investments in the energy sector due to the infrastructural developments. Other market drivers include growth in the renewable energy sector and growing demand for electricity for the consumer as well as commercial purposes.

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Key Players

The key players in the global power transformer market include ABB Ltd., (Switzerland), Bharat Heavy Electricals Limited (India), Crompton Greaves Ltd. (India), Hyosung Power & Industrial Solutions (South Korea), Hyundai Electric & Energy Systems Co. Ltd. (South Korea), Mitsubishi Electric Corporation (Japan), Schneider Electric (France), SGB-SMIT Group (Germany), Siemens AG (Germany), SPX Transformer Solutions Inc. (USA), and Toshiba Corporation (Japan).

Latest Industry News
• The Transmission Company of Nigeria (TCN) has inaugurated two new transformers at the Suleja Transmission Substation in Niger State. 28 JAN 2019
• Kyrgyz electricity distribution company JSC SeverElectro has announced a tender for $96 mn in order to purchase transformers. 17 JAN 2019

Power Transformer Market Segmental Analysis:

The global power transformer market has been segmented on the basis of cooling type, power rating, and by region. By cooling type, this market has been segmented into oil-cooled transformers and power-cooled transformers. Both of these kinds of transformers can transmit power over large distances. Based on power rating, the market has been segmented into small power, medium power, and large power. Small power range has the capacity in the range of 100-500 mega volt-amps (MVA). The medium range power transformers have a capacity between the ranges of 500-800 MVA. The large range power transformers have the potential of above 800 MVA.

Regional Outlook:

The regional segmentation of the global power transformer market segments the global market into regional markets known as North America, Europe, Asia Pacific, and rest of the world (RoW). The North America market is due to the presence of well-established market players, and rapid technological advancements. Important country-specific markets in this region are USA and Canada.
During the forecast period, the market in Europe is set to surge at a striking rate due to the replacement of aging infrastructure along with the increasing rate of installation of eco-friendly transformers. There are several small and medium power transformer projects that present a positive outlook of the market growth in this region. Important country-specific markets in Europe are France, Germany, Russia, and the UK, followed by the remaining countries of Europe.
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Table of Contents

Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Power Transformer Market, By Cooling Type, 2016–2023 (USD Million)
Table 4 Global Power Transformer Market, By Power Rating, 2016–2023 (USD Million)
Table 5 Global Power Transformer Market, By Region, 2016-2023 (USD Million)
Table 6 North America: Power Transformer Market, By Country, 2016-2023 (USD Million)
Table 7 North America: Power Transformer Market, By Cooling Type, 2016-2023 (USD Million)
Table 8 North America: Power Transformer Market, By Power Rating, 2016-2023 (USD Million)
Table 9 U.S.: Power Transformer Market, By Cooling Type, 2016-2023 (USD Million)
Table 10 U.S.: Power Transformer Market, By Power Rating, 2016-2023 (USD Million)
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