Power Transformer Market Size, Growth Prospects, Comprehensive Research and Key Player Analysis by 2023

Posted August 9, 2019 by DhanashreeP

Power Transformer Market expected to reach 8.64% CAGR growth forecast period 2018-2023, Power Transformer Market Categorizes by Cooling Type, Power Rating and End-User
Market Scenario

Power transformers are generally used in transmission network for stepping up or stepping down the voltage level. It operates mainly during high or peak loads and has maximum efficiency at full load. Distribution transformers steps down the voltage for distribution purpose to domestic or commercial users. It has good voltage regulation and operates continuously with maximum efficiency at 50% of full load. The stepping up or stepping down function of power transformers depends upon the number of turns of primary and secondary winding. If the number of turns on both the windings are same, and the losses of transformer are negligible, it can be concluded that the voltage across each of the winding is same. In this case the transformer is just utilized in isolating two electrical circuits.

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Global Power Transformer market is expected to witness substantial growth during the forecast period. Despite a strong focus on grid infrastructure renewal, especially in Europe, there has also been significant expansion of the grid network. In 2011, the total installed transmission and distribution line length reached 69.5 Million kilometers; in 2016, that figure is set to reach 74.2 Million kilometers. In 2011, Capital Expenditure (CAPEX) in transmission and distribution rose to USD 190.21 Billion and is forecast to increase to USD 231.83 Billion by 2016. There is an ever-increasing capital spend as seen in previous years during the replacement of existing technology with higher-end smart ones. All these factors are likely to drive the Power Transformer market.

Industry Segmentation

Power Transformer market has been segmented on the basis of power rating, cooling type, phase, installation, and region.

Based on cooling type, the market is classified into air-cooled and oil-cooled. Oil-cooled segment is expected to dominate the market due to the fact that oil-cooled power transformers are considered safer while dealing high voltage applications. With growing high voltage transmission network expansion activities.

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Regional Analysis

Power Transformer market by region is segmented into Asia Pacific, North America, Europe, the Middle East & Africa, and South America.

Asia-Pacific is expected to hold the largest share during the forecast period due to increased demand for energy and because of the growing population and rising per capita disposable income in the region.

Moreover, these rapidly growing economies in this region are also the top polluters in the world. This will led to increasing demand for energy, ultimately driving the need to install more power transformers in order to supply efficient power.

Leading Players

The key players of global Power Transformer market are Sumitomo Electric Industries Ltd, Radical Sun Systems, Inc., SolAero Technologies Corp, Arzon Solar, LLC., Cool Earth Solar, ARIMA Group, Suncore, Photovoltaic Technology Company Limited, Guangdong Redsolar Photovoltaic Technology Co., Saint, Augustin Canada Electric Inc., Sanan Optoelectronics Technology Co., Ltd, Macsun Solar Energy, Technology Co., Limited, and Morgan Solar Inc., among others.

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Issued By MRFR
Country India
Categories Business , Energy
Tags power transformer market , power transformer market demand , power transformer market trends
Last Updated August 9, 2019