Global Transformer Market Size, Share, Growth, Industry Trends and Forecast 2020-2030
The Global Transformer Market size was valued at USD 50 billion in 2020, and is expected to reach USD 87.0 billion by 2030, registering a CAGR of 5.70% from 2020 to 2030.A transformer is a static machine used in the transmission and distribution of electrical power. It helps in the transmission of power from one network to the other without any change in frequency. In other words, transformers are used to either step-up or step-down the voltage, keeping the frequency constant, in order to achieve better transmission efficiency and minimize losses. Transformers are also used to create an isolation between two electric circuits. They consist of mainly two parts – core and windings, and work on the principle of mutual induction.
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Market Dynamics and Factors:
Rapid industrialization and urbanization have increased the demand and consumption of electricity across the globe. Increasing number of commercial and industrial establishments together with the increasing use of electrical appliances are driving the global demand for electricity. Factors such as upgradation of power and distribution infrastructure, replacement of equipment at the end of their service life, development of heavy industries and increasing focus on renewable energy generation are other major factors driving the market globally. For instance, in 2018, the European Commission announced that the European nations will experience an increase in renewable energy share to 34% in 2030 when compared to 17% in 2015. However, stress causing failures and operational inefficiencies, attributing to delays and suspensions, are the major factors restraining of the transformer market growth.
Global Transformer Market – By Product Type
Global Transformer Market – By Structure
Global Transformer Market – By Winding
Global Transformer Market – By Installation Type
Global Transformer Market – By Phase
Global Transformer Market – By Rating
<=10 Mva 11-60mva 61-600mva >600 Mva
Global Transformer Market – By Mounting
Global Transformer Market – By Cooling Type
By Oil Immersed
Global Transformer Market – By Insulation Type
Global Transformer Market – By Application
Oil & Gas
Global Transformer Market – By Geography
Rest of Europe
Rest of Asia Pacific
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Asia Pacific region dominates the market in terms of market share during the forecast period followed by North America. Increasing investments in the transmission and distribution networks in APAC countries, such as India and China has provided tremendous growth opportunities for the distribution transformer manufacturers to increase their share in the market, during the forecast period. For instance, in Asia-Pacific, according to BP Statistics 2019, total electrical power generated in 2018 was around 12273.6 terawatts, while the overall consumption was less. This leads to higher demand for distribution transformer infrastructure to bridge the gap between supply and demand. MEA region is anticipated to witness the fastest growth in the market during the forecast period. Countries in the Middle-East region, such as Oman and Saudi Arabia, are also investing in the expansion and restructuring of distribution power grids, which increases the growth prospects of the market.
The key players operating in the global transformer industry are –
Siemens, ABB, Schneider, BHEL, GE, Toshiba, Mitsubishi, Kirloskar, Eaton, Hyundai, and Crompton Greaves.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Transformer industry, although key threats, opportunities and disruptive technologies that could shape the Global Transformer Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Transformer Market most.
The data analysis present in the Global Transformer Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Transformer Market business.
The 2021 Annual Global Transformer Market offers:
100+ charts exploring and analysing the Global Transformer Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Transformer Market type
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