Transformer Market value worth $80 billion by 2027, Says Global Market Insights, Inc.

Transformer Industry is expected to register over 6% CAGR between 2021 and 2027, driven by ongoing government policies toward adoption of clean energy systems coupled with rising concerns pertaining to grid efficiency and sustainability.

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Selbyville, Delaware, Jan. 28, 2021 (GLOBE NEWSWIRE) --

The transformer market revenue is projected to cross USD 80 Billion by 2027, as reported in the latest study by Global Market Insights, Inc. Transformer industry is anticipated to grow on account of rising infrastructural spending followed by upgradation of existing grid network. Favourable regulatory policies for rural electrification coupled with large scale suburban migration will propel the business growth. Ongoing Refurbishment demand for existing grid infrastructure along with large-scale renewable integration will augment the industry landscape.

Shell core transformer segment is anticipated to grow on account of integration of wide-ranging frequency distribution infrastructure and consistent grid support mechanism. Public & private players are investing extensively toward deployment of renewable power sources followed by favourable government incentives and schemes toward installation of solar power transformers will propel the business potential.

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The world economy is hit by COVID-19 pandemic where, even after re-starting the operations, many regions are facing challenges of restarting their manufacture capacity and companies are undergoing the effect of shortages in their supply networks. However, increasing electricity demand across healthcare sector is anticipated to enhance the product installation.

Some prime findings of the transformer market report include:

  • Transformer industry is estimated to grow on account of increasing electricity demand along with rising investment toward power grid infrastructure.
  • Rising installation of smart transformer units across existing T&D infrastructure will drive the business scenario.
  • Key players operating across the market are ABB, General Electric, Schneider Electric, Eaton and Siemens.
  • Ongoing R&D investments by public and private players toward introduction of advanced transformer units will further propel the industry scenario. 

Browse key industry insights spread across 1300 pages with 2753 market data tables & 44 figures & charts from the report, “Transformer Market Analysis By Product (Distribution Transformer, Power Transformer, Instrument Transformer {Current, Potential}), Core (Closed, Shell, Berry), Winding (Two Winding, Auto-Transformer), Installation (Outdoor, Indoor), Cooling (Dry Type {Self-Air, Air Blast}, Oil Immersed {Self-Cooled, Water Cooled, Forced Oil}), Insulation (Gas, Oil, Solid, Air), Phase (Three Phase, Single Phase), Rating (≤ 10 MVA, 11 MVA To 60 MVA, 61 MVA To 600 MVA, > 600 MVA), Mounting (Pad, Pole, PC/PCB), Application (Residential & Commercial {Hotels, Hospitals, Apartments}, Utility, Industrial {Railways, Cement, Power, Oil & Gas}), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:

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

Pole mounted transformer market is estimated to grow owing to the large unit installations followed by deployment of high voltage long-route power supply networks. Development of commercial establishments including hotel, malls, resorts, schools and universities will further fuel the product installation. Regulatory focus toward the integration of smart grids along with positive consumer inclination toward sustainable electrical components will accelerate the industry potential.

Middle East & Africa transformer market is predicted to register over 7% CAGR through 2027. Increasing electricity demand along with refurbishment of existing electrical power infrastructure will complement the industry scenario. The changing power consumption patterns in households and corporations will boost the industry statistics. Investments toward the deployment of high-capacity alternative energy sources in several countries including Saudi Arabia and UAE will further drive the industry outlook.

Toc of this report @ https://www.gminsights.com/toc/detail/transformer-market

Browse Related Report:

Power Transformer Market By Rating (< 100 MVA, 101 MVA to 500 MVA, 501 MVA to 800 MVA, > 800 MVA), Core (Closed, Shell, Berry), Winding (Two Winding, Auto-Transformer), Installation (Outdoor, Indoor), Cooling (Dry Type {Self-Air, Air Blast}, Oil Immersed {Self-Cooled, Water Cooled, Forced Oil}), Insulation (Gas, Oil, Solid, Air), Phase (Three Phase, Single Phase), Mounting (Pad, Pole, PC/PCB), Application (Residential & Commercial {Hotels, Hospitals, Societies}, Utility, Industrial {Railways, Cement, Power, Oil & Gas}), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

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

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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