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The most recent research report predicts that between 2023 and 2030, the global market share for transformers will increase at a CAGR of 8.43%. The transformer market is predicted to experience rapid growth in the upcoming years due to factors like a significant international investment drive to upgrade current electricity transmission lines and increased public and governmental desire for cleaner, greener energy sources. Converters are attracting a lot of interest from investors all around the world due to their function as high-efficiency power distribution equipment.
Positive regulatory improvements aimed at improving the current grid infrastructure are driving growth in the transformer industry to meet the increasing demand for power. The expansion of the market will be aided by efforts to increase the efficiency and reliability of electricity distribution systems, as well as by the upgrading and modernization of the current grid infrastructure network. Companies will grow thanks to supportive rules and regulations and continued expenditures in updating legacy technology. Along with government attempts to improve energy efficiency, the speedy expansion of industrialisation and rising energy consumption will drive the industry forward.
The projected period of 2023–2030 is predicted to witness a considerable growth in the size of the global transformer market due to the rising demand for power in developing nations. The volume of transformer sales is anticipated to increase dramatically as a result of power programmes aimed at reducing transmission and distribution losses and raising demand for transformers. With the steady dramatic transition away from carbon-based energy sources and towards renewable energy sources, there has been a significant paradigm shift in the world's energy usage. In the upcoming years, it is anticipated that the dynamics of the transformer industry would be impacted globally by these changes in the renewable sector.
The expansion of the worldwide transformer market will be influenced by a wide range of factors. Over the anticipated term, increased electrification activities in developing countries, government incentives for widespread inclusion, and a focus on alternative energy sources will support global transformer market developments. The industry will expand as a result of rising demand for new infrastructure, which will be supported by an increasing need for intelligent monitoring devices and environmentally friendly power systems. It is anticipated that the transformer sector would grow quickly in the near future for a number of reasons.
Throughout the anticipated timeframe, ageing assets and new power production projects using recycled materials will drive global transformer market trends. Due to global industrialization, commercialization, and the rapidly growing real estate market, the valuation of transformers is expected to rise significantly. Throughout the anticipated period, considerable expenditures from both the public and private sectors are anticipated to expand, fueling increasing infrastructure development and stimulating the industry. In the upcoming years, government initiatives to encourage energy production and growing concern about decreasing power theft will contribute to an increase in the market share of closed core transformers.
The biggest issues facing the sector were the COVID-19 shutdowns and the ensuing worldwide economic slump. Due to the cutting off of supply networks for an extended period of time and the suspension of trade routes, there were several challenges and financial losses. Numerous electricity-related projects that were in the works but not yet completed were put on hold, as well as many that had already begun. Additionally, the outbreak decreased government and individual discretionary spending as well as tax collections. All of these concerns have caused serious problems for the global transformer industry.
Report Coverage
Global Transformer research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Transformer report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Transformer competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Transformer market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Transformer market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Transformer market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ABB Ltd. (Switzerland), Eaton Corporation plc (Ireland), Schneider Electric (France), Siemens AG (Germany), Crompton Greaves Ltd. (India), Mitsubishi Electric Corporation (Japan), Toshiba Corporation (Japan), Bharat Heavy Electricals Limited (India), Hyosung Power & Industrial Solutions (South Korea), SPX Transformer Solutions Inc. (U.S.)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Transformer market based on the below-mentioned segments:
Global Transformer Market, By Product
Distribution Transformer
Power Transformer
Instrument Transformer
Current
Potential
Others
Global Transformer market, By Application
Residential & Commercial
Utility
Industrial
Global Transformer Market, By Mounting
Pad
Pole
PC/PCB
Others
Global Transformer market, Regional Analysis
Positive regulatory improvements aimed at improving the current grid infrastructure are driving growth in the transformer industry to meet the increasing demand for power. The expansion of the market will be aided by efforts to increase the efficiency and reliability of electricity distribution systems, as well as by the upgrading and modernization of the current grid infrastructure network. Companies will grow thanks to supportive rules and regulations and continued expenditures in updating legacy technology. Along with government attempts to improve energy efficiency, the speedy expansion of industrialisation and rising energy consumption will drive the industry forward.
The projected period of 2023–2030 is predicted to witness a considerable growth in the size of the global transformer market due to the rising demand for power in developing nations. The volume of transformer sales is anticipated to increase dramatically as a result of power programmes aimed at reducing transmission and distribution losses and raising demand for transformers. With the steady dramatic transition away from carbon-based energy sources and towards renewable energy sources, there has been a significant paradigm shift in the world's energy usage. In the upcoming years, it is anticipated that the dynamics of the transformer industry would be impacted globally by these changes in the renewable sector.
The expansion of the worldwide transformer market will be influenced by a wide range of factors. Over the anticipated term, increased electrification activities in developing countries, government incentives for widespread inclusion, and a focus on alternative energy sources will support global transformer market developments. The industry will expand as a result of rising demand for new infrastructure, which will be supported by an increasing need for intelligent monitoring devices and environmentally friendly power systems. It is anticipated that the transformer sector would grow quickly in the near future for a number of reasons.
Throughout the anticipated timeframe, ageing assets and new power production projects using recycled materials will drive global transformer market trends. Due to global industrialization, commercialization, and the rapidly growing real estate market, the valuation of transformers is expected to rise significantly. Throughout the anticipated period, considerable expenditures from both the public and private sectors are anticipated to expand, fueling increasing infrastructure development and stimulating the industry. In the upcoming years, government initiatives to encourage energy production and growing concern about decreasing power theft will contribute to an increase in the market share of closed core transformers.
The biggest issues facing the sector were the COVID-19 shutdowns and the ensuing worldwide economic slump. Due to the cutting off of supply networks for an extended period of time and the suspension of trade routes, there were several challenges and financial losses. Numerous electricity-related projects that were in the works but not yet completed were put on hold, as well as many that had already begun. Additionally, the outbreak decreased government and individual discretionary spending as well as tax collections. All of these concerns have caused serious problems for the global transformer industry.
Report Coverage
Global Transformer research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Transformer report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Transformer competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Transformer market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | ABB Ltd. (Switzerland), Eaton Corporation plc (Ireland), Schneider Electric (France), Siemens AG (Germany), Crompton Greaves Ltd. (India), Mitsubishi Electric Corporation (Japan), Toshiba Corporation (Japan), Bharat Heavy Electricals Limited (India), Hyosung Power & Industrial Solutions (South Korea), SPX Transformer Solutions Inc. (U.S.) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Transformer Market from 2021 to 2030.
- Market Forecast for Transformer Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Transformer competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Transformer
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Transformer market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Transformer market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ABB Ltd. (Switzerland), Eaton Corporation plc (Ireland), Schneider Electric (France), Siemens AG (Germany), Crompton Greaves Ltd. (India), Mitsubishi Electric Corporation (Japan), Toshiba Corporation (Japan), Bharat Heavy Electricals Limited (India), Hyosung Power & Industrial Solutions (South Korea), SPX Transformer Solutions Inc. (U.S.)
Primary Target Market
- Market Players of Transformer
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Transformer market based on the below-mentioned segments:
Global Transformer Market, By Product
Distribution Transformer
Power Transformer
Instrument Transformer
Current
Potential
Others
Global Transformer market, By Application
Residential & Commercial
Utility
Industrial
Global Transformer Market, By Mounting
Pad
Pole
PC/PCB
Others
Global Transformer market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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