Acknowledging the kind of traction gained by this market, recently published a study report asserts the global Power Transformers market size was valued at $27.7 billion in 2020 and is expected to reach $50.8 billion by 2027, registering a phenomenal CAGR of 7.9% during the review period (2022 to 2027).
Power Transformers Market Overview
The power transformer is a type of transformer used primarily to obtain low voltage generator electric power and transmit it across distribution channels across the power grid network. It forms a crucial part of the power grid and helps in the transmission of power from one network to the other without change in frequency. Generation of electric power in low voltage is cost-effective, but it leads to high line current.
The development in electricity demand is certain to rise the growth of power transformers, especially for high voltage long-distance transmissions. Power transformers are static machines used for transforming power from one circuit to another without changing the frequency. These transformers are generally above 200 MVA and are installed at the ending or receiving end of long high voltage transmission lines for step-up and step-down applications.
Recent Development
Beckhoff unveilings current transformers for sensor-to-cloud power measurement- Beckhoff Automation has debuted SCT current converters to complete the power measurement chain from measuring physical values to transmitting captured data to the cloud.
Who are the Major Players in Power Transformers Market?
The Power Transformers Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end-users. The three dependencies for the status of major companies in the market are company profile, profitable gross margin, the prices they charge. These are the main players in this market including ABB, Siemens, General Electric, Crompton Greaves Ltd, Toshiba Corporation, Hyundai Heavy Industries Co. Ltd, Mitsubishi Electric Corporation, Hyosung Corporation, Bharat Heavy Electricals Limited, and SPX Transformer Solutions Inc. and others.
What are the major Applications, Types and Regions for Power Transformers Market?
By Type, it is segmented into
- Single-Stage
- Two-Stage
- Three-Stage
By Applications, it is segmented into
- Alternative Power Generation
- Smart Grid
- Traction Locomotives
- EV Charging
Power Transformers Market Regional Analysis
All these factors greatly affect the Power Transformers market growth. It further aims at providing a complete overview on a detailed assessment of significant features of different industries including sales volume, market revenue, and demand size, sales growth, pricing analysis and changing market growth factors in regions such as Follows,
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
Asia-Pacific as a vital Market - Asia-Pacific is a vital market for power transmission and distribution networks. With the largest section of people in the world, the power requirement in the region is higher compared to other parts of the world.
With increasing per capita electricity consumption of around 0.1 MWh, the electricity demand for the region is anticipated to increase to nearly 11,000 terawatts by 2025, which, in turn, is likely to boost the power transformer market.
What is our Power Transformers Market report scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2027 CAGR
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CAGR of 7.9 % over the forecast period (2022-2027)
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By Type
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- Single-Stage
- Two-Stage
- Three-Stage
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By Application
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- Alternative Power Generation
- Smart Grid
- Traction Locomotives
- EV Charging
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By Companies
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ABB, Siemens, General Electric, Crompton Greaves Ltd, Toshiba Corporation, Hyundai Heavy Industries Co. Ltd, Mitsubishi Electric Corporation, Hyosung Corporation, Bharat Heavy Electricals Limited, and SPX Transformer Solutions Inc
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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162
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Power Transformers Report
- Evaluate Power Transformers market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end-use applications and by different industry verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
- Get in-depth insights on your competitor's performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Power Transformers market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
Frequently Asked Questions
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We use tools such as video conferences, telephone calls, face-to-face interviews, and questionnaires with key respondents.
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Who are the key players in Power Transformers Market?
ABB, Siemens, General Electric, Crompton Greaves Ltd, Toshiba Corporation, Hyundai Heavy Industries Co. Ltd, Mitsubishi Electric Corporation, Hyosung Corporation, Bharat Heavy Electricals Limited, and SPX Transformer Solutions Inc
What regions does this Power Transformers Market report cover?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Power Transformers Market?
Single-Stage, Two-Stage, Three-Stage, Others
What are the major end-use applications of the Power Transformers Market?
Alternative Power Generation, Smart Grid, Traction Locomotives, EV Charging
All our reports are custom made to your company's needs to a certain extent, we do provide 5 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
