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Market Scenario

Power transformer is a device normally used in engineering that alters both the voltage and the current of the electricity passing through it. A power transformer is made up of a coil enclosed around an electromagnet that transfers the electricity. Unlike distribution transformers that operate at an optimum efficiency of only 60-70%, power transformers are designed to operate at 100% efficiency. Moreover, power transformers are intended to sustain high voltages,  while distribution transformers are intended to handle lower ones. Power transformers transmit power to distribution transformers, so that distribution transformers can deliver small amounts of power to each and every user.The global power transformer market is expected to grow at a CAGR of 8% during the forecast period.

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As power transformers help step up or down the voltage level in the high voltage transmission network, they are used in numerous electronic circuits. They are available in various types and applications. The main application of power transformer is the transmission and distribution of electrical power. These transformers are widely used by power plants, industrial plants and conventional electric utility companies. . The constant need for electricity and the unstable electricity supply situation in most developing countries will aid in the growth of the power transformers market over the forecast period. However, averseness of governments worldwide in initiating capital inducement projects can hinder the power transformer market. Also, the high cost of transformers and that of safety instruments & backup structure obstructs optimal utilization of power transformers globally.

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Key Players

The key players of global power transformer market are ABB Group (Switzerland), Siemens Ltd. (Germany), General Electric Company (USA), Crompton Greaves Ltd. (India), Toshiba Corporation (Japan), Hyundai Heavy Industries Co., Ltd. (South Korea), Mitsubishi Electric Corporation (Japan), Hyosung Corporation (South Korea), Bharat Heavy Electricals Limited (India) and SPX Transformer Solutions, Inc. (U.S.A).

Segment Overview

By cooling type, the power transformer market is segmented into oil-cooled and power-cooled. Both of these mentioned transformers can transmit power over large distances. By power ratings, the market caters to small power, medium power, and large power. Among these, small range have the capacity in the range of 100-500 mega volt amps (MVA). Similarly, the medium range power transformers have a capacity between the ranges of 500-800 MVA and large range possesses above 800 MVA potential.

The segments and sub-segments covered in the report are analyzed with respect to four major regions – North America, Europe, Asia Pacific (APAC), and the Rest-of-the-World (RoW), with respective country-level market sizing. The definition and advantages of the product “power transformer” is outlined in the report for a comprehensive understanding of the market. The report discusses the various players involved in the value chain and their contributions to evaluate future opportunities within the market.

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