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Medium Voltage Transformers Market Forecast and Segments, 2015 - 2025

09-12-2017 12:46 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Medium Voltage Transformers Market Forecast and Segments, 2015

An electrical device used for transferring electrical energy between two or more circuits through electromagnetic induction is known as transformer. Transformers are commonly used in applications which require the conversion of AC voltage from one voltage level to another. Medium voltage transformer is a static electrical device that transfers electrical energy by inductive coupling between its core winding. A varying current is supplied in the primary winding which creates a varying magnetic flux in the transformer's core leading to a varying magnetic flux through the secondary winding. This varying magnetic flux produces a varying electromotive force (also called emf) or voltage in the secondary winding. Transformers are used either to vary the relative voltage of the circuits or to isolate them or both. Medium voltage transformer is an essential part of the power network responsible for transmission, distribution, and utilization of electrical energy. Availability and longevity of these transformers have a major impact on grid reliability and profitability.

The size of a power transformer is determined by three factors; primary or input voltage, the secondary or output voltage and the load capacity measured in kVA. Of these three factors, the amount of power that can be transferred or the capacity rating is often the key parameter rather than the voltage. Additionally, the voltage rating is often used to describe different classes of power transformers, such as extra high voltage 345 to 765 kV; high voltage 115 to 230 kV; medium voltage 34.5 to 115 kV and distribution voltage 2.5 to 35 kV.

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Oil immersed transformer is the most common type of medium voltage transformer. This transformer is used in most of the regular power distribution systems in substations or other distribution solutions. The dry-type transformer is higher in cost when compared with liquid-filled transformers although some characteristics of this transformer can tribute to choosing it as an alternative for liquid-filled transformers. The compact construction and the low maintenance costs offers an exciting view when the two types are compared. Due to the fact that there is no cooling fluid required like in the liquid-filled transformer there is no possible danger to the environment and this makes this type of transformer most suitable for green areas. These transformers are usually used for power distribution for residential areas and for industrial and commercial purposes. US is one of the largest market and holds the largest installed base of medium voltage transformers. Electric utilities accounts for approximately two-thirds of the medium voltage transformers market, with industrial and commercial segments accounting for about one third.

Medium Voltage Transformers Market: Drivers & Restraints

Rising urbanization in developing countries leads to an increase in the demand for power generation and transmission, transmission expansion to integrate renewable energy resources, new capacity addition in thermal and nuclear power generation are some of the key factors driving the growth of the global medium voltage transformers market.

Price fluctuation of raw material, maintenance and aging costs, compliance with specifications, quality and testing are few factors limiting the growth of the global medium voltage transformers market.

Medium Voltage Transformers Market: Segmentation

The global medium voltage transformers market is broadly classified on the basis of product type, mounting, applications and geographies.

Based on product type, the global medium voltage transformers market is segmented into:

Liquid-filled transformer
Dry-type transformer

Based on mounting, the global medium voltage transformers market is segmented into:

Pad-mounted transformer
Pole-mounted transformer

Based on application, the global medium voltage transformers market is segmented into:

Utility
Commercial
Industrial

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Medium Voltage Transformers Market: Overview

Asia Pacific, Middle East and Africa holds immense market potential, since the generation and distribution infrastructure of electricity is still in its nascent stage in these regions.

With developing new technologies in emerging economies, rapid urbanization and increasing housing and infrastructure investments, the acceptance of medium voltage transformers is gaining popularity. The global medium voltage transformers market is expected to expand at a promising CAGR during the forecast period (2015-2025).

Medium Voltage Transformers Market: Region-wise Outlook

The global medium voltage transformers market is expected to remain quite optimistic for the forecast period. Depending on geographic regions, global medium voltage transformers market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2015, North America dominated the global medium voltage transformers market in terms of market revenue. Asia Pacific & Japan are projected to expand at a substantial growth and will contribute to the global medium voltage transformers market value exhibiting a robust CAGR during the forecast period, 2015-2025.

Medium Voltage Transformers Market: Key Players

Some of the key market participants in global medium voltage transformers market are ABB, Schneider Electric, Siemens, Crompton Greaves Ltd, Eaton Corporation, Emerson Industrial Automation, Mitsubishi Electric, Hammond Power Solutions, Kirloskar Electric, SMA America LLC.

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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