Transformer Market Size Market Share & Forecast, 2017 - 2024

MaketStudyReport.com adds a New Transformer Market Research Report for the period of 2017 - 2024 that shows the growth of the market is rising at 2024.
Transformer Market size is set to exceed USD 70 billion by 2024; as per a latest research report.
Rising security of supply concerns along with global inclination towards energy conservation will foster the transformer market . Energy efficiency propositions favored by expeditious expansion of smart-grid networks will further stimulate the product penetration. In 2017, Sweden, Italy, UK, Germany and France, entered a smart grid agreement. The concord lays investment provisions worth USD 133.7 billion to cater the expansion of smart grid technologies across Europe.
Increasing infrastructural expenditure subject to widespread residential and commercial establishments across developing regions will stimulate the transformer market share. Rising demand for the refurbishment of grid infrastructure coupled with rapid adoption of smart transmission & distribution equipment will further complement the industry outlook. In 2017, East Spring Investments, proposed an investment worth USD 500 million towards the structuring of infrastructure debt across developing economies.
China transformer market in 2016, accounted for an annual installation of over 15 ‘000 units. Ongoing reforms in line with the establishment of a sustainable grid infrastructure will positively influence the product landscape. Stringent norms toward the replacement of fossil fuels with clean energy resources supported by renewable integration target will embellish the business growth.
The > 600 MVA in 2016, accounted over 30% of the global transformer market share. Rapid deployment of high voltage networks to cater the rising electricity demand from industries across Asia Pacific and Africa will embellish the business growth. Ongoing expansion of utility infrastructure along with retrofitting of existing transmission infrastructure will further stimulate the product demand.
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The above information is provided on a regional and country basis for the following:
 North America: U.S, Canada.
 Europe: Germany, UK, Italy, France, Spain, Russia.
 Asia Pacific: China, India, Japan, South Korea, Taiwan
 MEA: South Africa, Saudi Arabia.
 Latin America (LATAM): Argentina, Brazil, Mexico, Asia Pacific, China, Japan, India, Australia.
Growth drivers
• North America
• Refurbishment demand for existing grid infrastructure
• Rising infrastructural spending
• Europe
• Stringent energy efficiency reforms
• Growing adoption of micro grid networks
• Asia Pacific
• Large-scale renewable integration
• Increasing spending toward expansion of electric grid
• Middle East and Africa
• Increasing demand for electricity
• Growing adoption of decentralized generation
• Latin America
• Increasing demand for sustainable electrical network.
Transformer Market, By Core: Closed, Shell, Berry.
Transformer Market, By Product: Distribution transformer, Power transformer, Instrument transformer, Current, Potential, Others.
Transformer Market, By Winding: Two-winding, Auto-transformer.
Transformer Market, By Installation: Outdoor, Indoor.
Transformer Market, By Cooling: Dry-type, Self-air, Air blast, Oil immersed, Self-cooled, Water-cooled, Forced oil, Others
Transformer Market, By Insulation: Gas, Oil, Solid, Air, Others
Transformer Market, By Phase: 3-phase, Single.
Transformer Market, By Rating: ≤ 10 MVA, 11 to 60 MVA, 61 TO 600 MVA, > 600 MVA.
Transformer Market, By Mounting: Pad, Pole, PC/PCB, Others.
Transformer Market, By Application: Residential & Commercial, Hotels, Hospitals, Apartments, Others, Utility, Industrial, Railways, Cement, Power, Oil & Gas, Others.
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Soaring energy security concerns along with exponential rise in energy consumption will substantially augment the global transformer market . Increasing complexity of grid infrastructure on account of expanding electricity networks and increasing demand for energy, obligate the adoption of sustainable T&D equipment. In addition, increasing consumer awareness towards the integration of effective energy mix favored by perpetual electrification programs will further complement the industry outlook.
The U.S. transformer market will witness sustainable growth owing to rising investments toward the replacement and upgradation of conventional grid networks across the nation. Expeditious expansion of rail-road infrastructure propositions backed by the peninsula corridor electrification program will positively influence the product demand. In 2017, the U.S. Federal Transit Administration allocated funds over USD 100 million to reinforce the expansion of electrical networks to cater the rail infrastructure in California.
Middle East & Africa transformer market is projected to witness steep progression subject to the rapid expansion of micro-grid networks coupled with the ongoing adoption of decentralized generation technologies. Soaring investments from financial institutions including the African Development Bank (ADB), and the International Finance Corporation (IFC), toward electrification across the nation will further nourish the business landscape. In 2017, The African Development Bank proposed investments worth USD 12 billion to cater the soaring power sector across Africa.
Notable participants in the transformer market include General Electric, ABB, EATON, Siemens, Schneider Electric, Crompton Greaves, Mitsubishi Electric, Hyundai Electric, Hyosung, Toshiba Corp., Daihen, BHEL, Kirloskar, SPX Transformer, Ormazabal, Ruhstrat, and Celme.
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