Global Electrical Transformer Market is expected to foresee significant growth. Asia Pacific to lead the growth!
- Himanshu Patni
- January 4, 2022
- ENERGY & POWER
- Electrical Transformer Market, Electrical Transformer Market growth, Electrical Transformer Market share, Electrical Transformer Market size
- 0 Comments
Global Electrical Transformer Market was stood around USD 22 bn market in 2020 and expected to grow with a CAGR of around 6% during the forecast period (2021-2027). Government investing towards expanding its exiting electricity transmission and distribution system to cater the rising electricity demand due to rapid urbanization and industrialization. Rise in average electricity consumption is anticipated to account for steady growth for electrical transformer market.
Electrical transformer are integral components within power grids as they assist in power transmission between networks without change in frequency and minimum loss. Increasing investments towards expansion of power grid networks and distribution channels to enable electricity access in remote areas will fuel the demand for electrical transformers in the forthcoming years.
For a detailed analysis of the Covid-19 Impact on the industry browse through – https://univdatos.com/report/electrical-transformer-market/
The coronavirus pandemic declared as public health emergency worldwide by World Health Organization (WHO). Government across nations implemented lockdown and ban on travelling, shutdown of manufacturing industries, and commercial activities. This had severely disrupted the supply chain. The energy consumption was severely disrupted across the countries due to the closure of industrial and commercial sector.
Based on rating, the electrical transformer market is segmented into small power transformer (up to 60MVA), medium power transformer (61 – 600MVA), large power transformer (above 600MVA). The small power transformer (up to 600MVA) segment caters significant demand in electrical transformer market owing to its surging use in various end-user applications. Booming real estate industry and increasing demand of transformer in processing industries and infrastructure development will support the increased demand.
Based on cooling type, the electrical transformer market is classified into oil-cooled transformer and air-cooled transformer. The oil-cooled segment holds the considerable market share. It is mainly owing to the increasing number of high voltage transmission projects being undertaken, the demand for oil-cooled power transformers is expected to be higher than air-cooled power transformers.
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For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, Spain, Italy, France, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. Asia Pacific holds the extensive market share because region is witnessing some of the largest T&D expansions due to rapidly increasing demand in countries such as India and China.
Some of the major players operating in the market include CG Power and Industrial Solutions Ltd, Siemens AG, Schneider Electric SE, TBEA Co. Ltd., EMCO Ltd., Kirloskar Electric Co. Ltd, Toshiba Corporation, Hitachi Ltd., Bharat Heavy Electricals Ltd., General Electric Company. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.
Global Electrical Transformer Market Segmentation
Market Insight, by Rating
- Small Power Transformer (Up to 60MVA)
- Medium Power Transformer (61 – 600MVA)
- Large Power Transformer (Above 600MVA)
Market Insight, by Cooling Type
- Oil-Cooled Transformer
- Air-Cooled Transformer
Market Insight, by Region
- North America Electrical Transformer Market
- United States
- Rest of North America
- Europe Electrical Transformer Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Electrical Transformer Market
- Rest of Asia-Pacific
- Rest of World Electrical Transformer Market
Top Company Profiles
- CG Power and Industrial Solutions Ltd.
- Siemens AG
- Schneider Electric SE
- TBEA Co. Ltd.
- EMCO Ltd.
- Kirloskar Electric Co. Ltd.
- Toshiba Corporation
- Hitachi Ltd.
- Bharat Heavy Electricals Ltd.
- General Electric Company