Industrial Control Transformer Market Size to Reach $1.2 billion by 2027 | Leading key players are ABB, Schneider Electric, Siemens, Eaton

According to the new market research report, the global industrial control transformer market size will grow to USD 1.2 billion by 2027 from USD 0.9 billion in 2022, at a CAGR of 5.0% during the forecast period.

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An industrial control transformer is essentially an isolation transformer that offers great voltage regulation. It is sometimes referred to as control transformer, or control power transformer, or even machine tool transformer. These are designed with low impedance windings for voltage regulation, and can accommodate the high inrush current associated with contactors, starters, solenoids, and relays. Growth in manufacturing industry and chemical industry to offer remunerative opportunities for the industrial control transformer market during the forecast period.

The leading players in the industrial control transformer market include ABB (Switzerland), Schneider Electric (France), Siemens (Germany), General Electric (US), and Eaton (Ireland) Growth strategies adopted by these players include acquisitions, product launches, and sales contract to increase their presence in the global market.

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The three-phase segment is expected to dominate the industrial control transformer market, by phase, during the forecast period.

Three phase transformers have three sets of primary and secondary windings. They are employed in three phase motors for large industrial applications because of their high power capability. These transformers enable the smooth operations of heavy equipment. These transformers are used in the chemical, power, and other industrial and mining sectors to power a range of general machinery, including compressors, pumps, crushers, cutting tools, and other mechanical equipment. Compared to single phase industrial control transformers, three phase industrial control transformers are more effective in controlling the power for high industrial loads. Therefore, demand for industrial control transformer in three phase segment is increasing.

The above 1,500 VA segment is expected to be the largest market, by power rating, during the forecast period.

Above 1,500 VA power rating transformers are majorly used in the oil & gas and power generation sectors. Equipment, such as draft fans, compressors pumps, and drillers are required in the power generation industry. These equipment need to operate at a uniform voltage based on the requirement. Pumps are used in the oil & gas industry to extract fluid from underneath the ground and are required to sustain harsh environments. The pumping operations need to be regulated accurately, as any voltage inconsistencies can lead to an explosion. above 1,500 VA industrial control transformers ensure smooth and safe operations of equipment across industries, which is fueling the growth of the 1,500 VA segment. The rise in the new oil & gas exploration operations, the introduction of methods for enhanced oil recovery, and the need to replace aging infrastructure in power plants are the key factors expected to drive the growth of the above 1,500 VA segment.

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Asia Pacific likely to emerge as the largest industrial control transformer market

The Asia Pacific region accounted for the largest share of the industrial control transformer market in 2021. The region is experiencing rapid development fueled by the growth of major economies, such as China, India, South Korea, Japan, Indonesia, and Australia. According to the International Monetary Fund (IMF), the region's economy grew by 6.5% in FY2021 and is expected to increase by 5.7% in FY2022. Electricity generation is perceived as an essential service and was hence less affected by the coronavirus pandemic in 2020. The increased demand for power in Asia is driven by China and India. In a report by the International Energy Agency, demand for electricity in the Asia Pacific region is expected to have grown by 8% in 2021, from a low of 2% in 2020. This growth is led mainly by China and India and the countries contributed individual shares of 10% each to the demand for electricity in the region. Except for Japan, most countries in the region are expected to witness a continued rise in demand till 2024.

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