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.

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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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Industry Highlights

Currently, the power transformer market is in the growth stage. This is due to the increase in demand for power, and in cross-border power transmission, global initiatives to use more renewable and non-conventional energy sources, smart grids, & the global need to upgrade transmission grids boost the global power transformer market. The Asia-Pacific region is the leading market for power transformers market and is followed by Europe. The rapid industrial development in the countries such as India and China where there are issues with continuous reliable electricity supply, is driving the market for power transformers. Also R&D and utilization of ultra-high voltage transformer in China and India will drive power transformer market.

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).

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