Converter transformer Market is Rapidly Growing with Huge Application Scope & Opportunities by 2021-2028

Converter transformer is a special-transformer which is designed for offering high-current low voltage solutions for industrial applications. Converter transformers have widespread applications for large drive applications. Growing trends towards the adoption of renewable energy generation in the global power industry scenario have led different countries to progressively invest into renewable energy projects and these special transformers help they enhance their unconventional power generation capabilities.
The high demand for efficient power transmission solutions, need for integration of smart grid technologies along with the increasing government infrastructure are the key factors driving the growth of the market.

However, capital-intensive nature of manufacturing processes and the lack of product standardization mechanism are the major factors hampering the growth of the market. Rapidly increasing the power generation by offshore wind farms and growing environmental concerns towards high power transmission features are the factors that will offer ample growth opportunities to the world converter transformer market.

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The report segments the world converter transformer market on the basis of applications, configuration, and basis of voltage level, power rating, and region. On the basis of application, the market is segmented into windfarms, oil & gas, and grid interconnections. On the basis of configuration, the market is segmented into back-to-back, monopolar, bipolar, and multi-terminal.

On the basis of voltage level, the market is segmented into voltage up to 200kV, 201-400kV, 401-600kV, 601-800kV, and voltage exceeding 800. On the basis of power rating the market is segmented into below 500MW, in the range of 501-999MW, 1000-2000MW and more than 2000MW. On the basis of region, the market is segmented into Americas, Europe, and Asia-Pacific.

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Key market players profiled in the report include ABB Ltd., General Electric, Siemens, and Crompton Greaves, and others.

Questions answered in the marine scrubber market research report:
• Which are the leading market players active in the market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

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