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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.
Market Segmentation:
Global Transformer Market – By Product Type
Power Transformer
Distribution Transformer
Instrument Transformer
Global Transformer Market – By Structure
Core-Type
Shell Type
Global Transformer Market – By Winding
Two-Winding
Autotransformer
Global Transformer Market – By Installation Type
Outdoor
Indoor
Global Transformer Market – By Phase
Single Phase
Three Phase
Global Transformer Market – By Rating
<=10 Mva 11-60mva 61-600mva >600 Mva
Global Transformer Market – By Mounting
Pad
Pole
Pc/Pcb
Global Transformer Market – By Cooling Type
Dry Type
Self Air
Air Blast
By Oil Immersed
Self Cooled
Water Cooled
Forced Oil
Global Transformer Market – By Insulation Type
Gas
Oil
Solid
Air
Global Transformer Market – By Application
Residential
Commercial
Hotels
Apartments
Hospitals
Others
Industrial
Railways
Cement
Oil & Gas
Others
Global Transformer Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
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.
Competitive Scenario:
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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About Us:
Decision Foresight is a market research organization known for its reliable and genuine content, market estimation and the best analysis which is designed to deliver state-of-the-art quality syndicate reports to our customers. Apart from syndicate reports, you will find the best market insights, strategies that will help in taking better business decisions on subjects that may require you to develop and grow your business-like health, science, technology and many more. At Decision Foresight, we truly believe in disseminating the right piece of knowledge to a large section of the audience and cover the in-depth insights of market leaders across various verticals and horizontals.
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