New York, NY, March 15, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Industrial Control Transformer Market by Power Rating (25-500 VA, 500-1,000 VA, 1,000-1,500 VA, and Above 1,500 VA), by Phase Type (Single Phase and Three Phase), and by End-User (Power Generation, Oil & Gas, Chemical, Metal & Mining, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global industrial control transformer market was valued at approximately USD 792 million in 2018 and is expected to generate around USD 1,118 million by 2025, at a CAGR of around 2.84% between 2019 and 2025.
The global industrial control transformer market is likely to experience significant growth in the future, owing to the rising demand for energy, rising urbanization, ongoing construction of smart cities and buildings. Furthermore, the need to minimize device or equipment failure caused by fluctuating voltage and irregular electric current flow is projected to further boost the global industrial control transformer market in the upcoming years. During voltage overloads, the industrial control transformer provides a high degree of stability in less time. Industrial control transformer also offers optimal voltage regulation, which ensures the safety of the plant operations. This ability of the industrial control transformer is also anticipated to drive the global industrial control transformer market development. However, the high initial investment costs and growth of the oil and gas industry may hinder this market’s development in the years ahead.
Browse through 42 Tables & 23 Figures spread over 110 Pages and in-depth TOC on “Global Industrial Control Transformer Market: Industry Size, Share, Growth, Analysis, and Forecast, 2018–2025”.
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Based on power rating, the industrial control transformer market is segmented into 25-500 VA, 500-1,000 VA, 1,000-1,500 VA, and above 1,500 VA. The above 1,500 VA segment is expected to dominate the market, as industrial control transformers are mostly installed above 1,500 VA in manufacturing plants and factories to deal with heavy power outages.
By phase type, the market is categorized into three phase and single phase. The three-phase segment is expected to dominate the market, due to their extensive use in heavy industrial applications as they can easily carry high power for operations.
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The global industrial control transformer market on the basis of end-user is categorized into power generation, oil and gas, chemical, metal and mining, and others. The metal and mining segment is likely to dominate the market, as industrial control transformers in metal manufacturing regulate voltage in various processes.
By region, North America contributed an extensive revenue share to the global industrial control transformer market in 2018 and is expected to dominate in the upcoming years as well. This regional growth can be attributed due to the factory rules and regulations regarding the workers’ safety and security of the power plants across the region. Moreover, in 2016, the U.S. Department of Energy (DOE) formulated regulations regarding the efficiency level of transformers.
Browse the full “Industrial Control Transformer Market by Power Rating (25-500 VA, 500-1,000 VA, 1,000-1,500 VA, and Above 1,500 VA), by Phase Type (Single Phase and Three Phase), and by End-User (Power Generation, Oil & Gas, Chemical, Metal & Mining, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/industrial-control-transformer-market
The Asia Pacific industrial control transformer market is projected to grow at the highest rate over the forecast timeframe, owing to the rising regional population. The rapid industrialization and urbanization across the region are propelling the need for power generation. Additionally, the disruptive technologies for energy and power generation are likely to have a positive impact on this regional market’s growth over the estimated timeframe.
The European region is expected to provide significant opportunities in the global industrial control transformer market in the future, owing to the growing power sector, region’s increasing power generation capabilities in the energy and power sector, and the presence of prominent players across the region.
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Some key players of the global industrial control transformer market are ABB, Siemens, Schneider Electric, Emerson Electric Co., Electric Hammond Power Solutions (HPS), Dongan Electric Manufacturing Co., Benchmarking, Eaton, GE, Hubbell, Rockwell Automation, Broadman Transformers, and MCI Transformers, among others.
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This report segments the global industrial control transformer market into:
Global Industrial Control Transformer Market: Power Rating Analysis
- 25-500 VA
- 500-1,000 VA
- 1,000-1,500 VA
- Above 1,500 VA
Global Industrial Control Transformer Market: Phase Type Analysis
- Single Phase
- Three Phase
Global Industrial Control Transformer Market: Phase Type Analysis
- Power Generation
- Oil and Gas
- Chemical
- Metal and Mining
- Others
Global Industrial Control Transformer Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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