Transformer Market Regional Analysis, Demand, Share, Growth and Forecasts 2023

Market Overview:-

The growth of the transformer market is primarily due to several factors such as upsurge in transmission & distribution infrastructure investments, and evolution in renewable energy sector. This growth can mainly be attributed to transformer systems operations, which act as a highly efficient transmission & distribution equipment. However, the growth of the market can be restrained by the high initial capital cost of transformer and reluctance among the utility authority to replace aging Infrastructure.  

The global rise in conventional and non-conventional power generation is creating a wide scope for the development of electrical components on large scale. The biggest new investment over the succeeding decade will be in China and India as they seek to encounter rising electricity demand while renovating their grids. Developed countries will also be investing significantly, particularly in smart grid infrastructure and renewable energy integration.The growth is inter-related with the growth in the transmission and distribution network, so as to supply power to these sector with appropriate power rating and frequency. All these major factors contribute hugely in the development of new transmission and distribution network across the globe, which indirectly boosts the transformer market.

 

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Industry Top Key Players:-

  • ABB Ltd.
  • Eaton Corporation plc
  • Schneider Electric 
  • Siemens AG
  • Mitsubishi Electric Corporation
  • Toshiba Corporation 
  • Hyosung Power & Industrial Solutions
  • SPX Transformer Solutions, Inc. 

 

Major Points in Table Of Content:-

1  Executive Summary

2  Market Introduction

2.1 Definition 17

2.2 Scope Of The Study 17

2.3 List Of Assumptions 17

2.4 Market Structure 18

 

3  Research Methodology

3.1 Research Process 20

3.2 Primary Research 21

3.3 Secondary Research 22

3.4 Market Size Estimation 22

3.5 Forecast Model 23

 

4  Market Dynamics

4.1 Introduction 25

4.2 Drivers 26

4.2.1 Rise In Transmission & Distribution Infrastructure Investments 26

4.2.2 Growth In Renewable Energy Sector 26

4.2.3 Drivers Impact Analysis 27

4.3 Restraints 28

4.3.1 High Initial Capital Cost Of Transformer 28

4.3.2 Reluctance To Replace Aging Infrastructure 28

4.3.3 Restraints Impact Analysis 29

4.4 Opportunity 29

4.4.1 Global Rise In Electricity Demand 29

To be continued……..

 

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Scope of the Report:-

This study provides an overview of the global transformer market, tracking five market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for Americas, Europe, Asia Pacific and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global transformer market by type, by end-users, and by regions.

Global Transformer Market, By Type

  • Distribution Transformer
  • Power Transformer
  • Others

Global Transformer Market, By Power Rating

  • Small Power
  • Medium Power
  • Large Power

 

Global Transformer Market, By End-User

  • Utility
  • Residential & Commercial
  • Industrial

Global Transformer Market, By Region

  • Americas
  • Europe
  • Asia Pacific
  • Middle East & Africa

 

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Regional  Analysis:-

America’s economies are expanding their generating capacity through high investments in renewable energy resources. This is creating a wide scope for the electrical component market in this region. Grid expansion and cross-border expansion of electrical lines are certainly driving the transformer market in the Americas region. The Europe transformer marker is expected to witness phenomenal growth during the forecast period owing to facilitating the expansion of the market through rise in the industrial growth, aging infrastructure which is leading to investment in smart grids, rising production of electricity and growing demand for green energy. Asia Pacific is the fastest growing market for the global transformer market. The incessant need to modernize and improve existing distribution infrastructure to assist the mounting demand for electricity will lead to an optimistic growth of the transformer market over the forecast period. In the developing nations of Asia Pacific, extensive power plant capacity additions, economic expansions, and the growing need to advance access to electricity are propelling grid expansion and the transformer market. The Middle East & Africa transformer market is divided into Middle East, and Africa. Middle East & Africa has a growing market for the global transformer. Due to developing infrastructure, undeveloped markets in this region and continuously increasing demand for the power has driven the growth of the market.

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