Power Transformer Market worth $37 billion by 2026: Global Market Insights, Inc.

Power Transformer Market revenue is projected to achieve around 6% CAGR from 2020 to 2026 as growing integration of renewables into the grid will propel the industry growth.

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Selbyville, Delaware, Dec. 12, 2019 (GLOBE NEWSWIRE) --

Global Power Transformer Market is projected to cross $37 billion by 2026, as reported in the latest study by Global Market Insights, Inc. Growing investment toward expansion of transmission networks along with increasing deployment of renewable energy is positively influencing the deployment for these units.

Air insulated transformers units have gained significant industry penetration owing to their flexible product configurations and reliable & safe operations. Capability to avoid combustibility, lower secondary effects through internal failure and environment friendly operations has augmented the technological adoption. This allows complete adoption of substation equipment with subsequent space & cost savings, which in turn will strengthen the product demand.

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100 MVA– 500 MVA transformer units will observe growth on account of their low installation cost, extensive demand across electric power, oil & gas and healthcare industries and compact size. Furthermore, rising installation of these units at electrical substations and generating stations to convert electrical power to high or low voltage for transmission will fuel the business dynamics.

Some major findings of the power transformer market statistics report include:

  • Demand for power transformers is soaring across industries owing to their features such as compact size, easy transportation & short circuit reliability.
  • Growing fund flow by private & government organization for electrification programs is anticipated to drive the industry growth.
  • Major participants operating across the Power transformer market are ABB, Siemens, Schneider, General Electric, BHEL and Crompton Greaves etc.
  • Refurbishment & retrofitting of existing electricity network across the globe has instituted a favorable business scenario.  

Pole mounted transformers units will witness significant incorporation owing to faraway load centers across constrained grid accessibility. Compact size in line with easy deployment on single poles will boost the product penetration, thereby limiting the risk of harm to animals and minimizing vandalism. Pole mounted transformer market have gained industry penetration on account of their capability to service urban and rural commercial & residential loads.

Browse key industry insights spread across 1030 pages with 2390 market data tables & 40 figures & charts from the report, “Power Transformer Market Size By Core (Closed, Shell, Berry), By Winding (Two Winding, Auto-Transformer), By Installation (Outdoor, Indoor), By Cooling (Dry Type {Self-Air, Air Blast}, Oil Immersed {Self-Cooled, Water Cooled, Forced Oil}), By Insulation (Gas, Oil, Solid, Air), By Phase (Three Phase, Single Phase), By Rating (100 To 500 MVA, 501 To 800 MVA, > 800 MVA), By Mounting (Pad, Pole, PC/PCB), By Application (Residential & Commercial {Hotels, Hospitals, Societies}, Utility, Industrial {Railways, Cement, Power, Oil & Gas}), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026”in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/power-transformer-market-report

Increasing emphasis subject to the adoption of wide range frequency distribution links along with growing energy-efficiency concerns will complement the commercial & residential power transformer market share. Moreover, rising fund flow by governmental & private organizations & institutions for electrification programs will escalate the business growth. The African government, in 2014, introduced initiative with an aim to support stand-alone grid electricity access to attain its goal of increasing 60 million new business & residential connections by 2030.

Advanced government efforts to stimulate exiting power infrastructure & capacities to meet the growing demand for electricity will nurture the overall power transformer industry across Asia Pacific. Enhanced electrification rate along with regulatory funding toward the development of new transmission network will boost the industry share. ADB, in November 2019, endorsed USD 300 million for the development of transmission infrastructure across Bangladesh. Ongoing industrialization & urbanization across developing economies coupled with focus toward renewable electric network will positively sway the business growth.    

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Browse Related Reports:

Global Transformer Market Forecasts 2026: Dry type transformer industry is projected to achieve over 7% CAGR up to 2026. Effective resistivity to electrical surges & short circuits coupled with environmental sustainability have paved favorable grounds for technological adoption. Major players operating in the global market include Ormazabal, Daihen, SPX, Celme, Voltamp, Hyosung, Kirloskar, GE, ABB, BHEL, Schneider, Siemens, Mitsubishi, Toshiba, Eaton, Hyundai and Crompton Greaves.      

https://www.gminsights.com/industry-analysis/transformer-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.


        

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