Market Overview

Special transformers are used for uplifting the voltage from the network to the application level so that current can be maximized. Range of special transformers includes regulating and rectifier transformers, AC arc furnace transformers, series reactors for AC arc furnaces, DC arc furnace transformers, and large drive/converter transformers. These transformers are used in various industries such as chemical, automotive, oil & gas industry, steel industries, and others.

Major factor attributed to growth of the special transformer market is increasing demand for high power in industries such as oil & gas, metal & mining, chemical, steel, and others. For instance, according to the World Oil & Gas review analysis, the consumption of gas in the 2014 was 3,457.06 billion cubic meter and 3,515.56 billion cubic meter in 2015 worldwide. Similarly, the consumption of oil in 2014 was 92, 869 barrel and it increased to 94,709 barrel in 2015 worldwide. These industries require high current voltage during the production process .Special transformer intakes current with low voltage and converts it to high voltage with very low loss of energy. Such benefits result in increasing demand for special transformer in various industries, which in turn contributes to growth of the special transformer market over the forecast period.

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Market Dynamics

Major factor attributed to growth of the special transformer market is increasing demand for high power in industries such as oil & gas, metal & mining, chemical, steel, and others. For instance, according to the World Oil & Gas review analysis, the consumption of gas in the 2014 was 3,457.06 billion cubic meter and 3,515.56 billion cubic meter in 2015 worldwide. Similarly, the consumption of oil in 2014 was 92, 869 barrel and it increased to 94,709 barrel in 2015 worldwide. These industries require high current voltage during the production process .Special transformer intakes current with low voltage and converts it to high voltage with very low loss of energy. Such benefits result in increasing demand for special transformer in various industries, which in turn contributes to growth of the special transformer market over the forecast period.

Growth of the steel industry is one of the major factor contributing to increasing demand for special transformers. For instance, according to a report published by World Steel Organization, December 2017, 1516.0 million tons of steel was produced in 2016 and it increased to 1587.4 million tons in 2017 worldwide. The steel industry uses special transformers that facilitate appropriate supply of current across a wide range of applications, either via on-load or off-load regulation, resulting in process optimization.

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Major players operating in the global special transformer include, Mitsubishi Electric Corporation, Sunten Electric Equipment Co., Ltd., Siemens Ltd., Alstom, Schneider Electric, ABB, Wolong Electric Group Co.,Ltd., Toshiba India Pvt. Ltd., TBEA India, Baoding Tianwei Group, Wuzhou Transformer Co., Ltd., and Jinan XD Special Transformer Co.,Ltd.

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