Asia-Pacific Power Transformer Market: expected to reach $8,990 million by 2023, growing at 8.1% CAGR

Asia-Pacific Power Transformer Market was valued at $5,210 million in 2016, and is projected to reach $8,990 million by 2023, registering a CAGR of 8.1% from 2017 to 2023. Power transformers is one of the basic components involved in power transmission system for insulation, reduction of electricity losses, and heat dispersion.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:
https://www.alliedmarketresearch.com/request-sample/4548

The power transformer industry will be driven by rising transmission network research and the fast use of non-traditional and renewable energy sources for generating electricity in remote places during the assessment period. Smart grids can be accessed and monitored remotely, and they can rapidly adjust to changes in electricity demand. Additionally, they guarantee effective cooling and power delivery, which lowers carbon emissions. During the projection period, the development of green transformers, high voltage transmission technologies, and strict government regulations aimed at lowering greenhouse gas emissions will support the expansion of the worldwide power transformer industry.

Based on insulation type, the segment is divided into sub-segments such as gas, oil, solid, air, and other insulation types. The oil insulation type accounted for the largest market share of 58.9 % in 2022 and is expected to foresee a positive CAGR of 7.7 % from 2023 to 2030. Oil as an insulation medium is often used in different industries, owing to its ability to maintain stability in high temperatures. Its electrical insulation qualities such as its dielectric ability reduce any incoming damage from high voltage. These advantages position oil insulators as the preferred choice among manufacturers.

Furthermore, oil also prevents other components such as copper coils from damage such as burning Oil as an insulator is used in fluorescent lamp ballasts, high-voltage capacitors, oil-filled transformers, high-voltage switches, and circuit breakers. Generally, the transformers use mineral oil (mostly naphthenic), silicone, and bio-based oils for insulations. However, as environmental concerns are becoming more prevalent among transformer manufacturers worldwide, they are shifting toward more eco-friendly alternatives such as ester oil for developing transformers. For instance, on September 2022, Baoding Tianwei Baobian Electric Co. Ltd announced the development of its 110KV natural ester oil transformer. The ester oil used in the transformer has a 98% natural degradation rate and a higher ignition point.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐎𝐧 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.alliedmarketresearch.com/checkout-final/3418ed80bccb041bf292bde71eb12264

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲:

China is expected to continue to lead the market throughout 2016 to 2023, followed by India
The power transformer (

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is market research, consulting, and advisory firm of Allied Analytics LLP. Founded in 2013, the firm has been instrumental in offering high-quality syndicated and customized market research reports, consulting services, and useful insights to leading market players, startups, investors, and stakeholders. Driven by the aim to eliminate sub-standard data and become a successful partner for organizations, Allied Market Research has been innovating continuously, expanding the product & service portfolio, and implementing the client-first approach since its inception. With the clientele spanning more than 7,000 organizations that also include a majority of Fortune 500 companies, AMR has a proven track record of helping and serving the global clientele and playing a major role in their success.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

This release was published on openPR.