Published by Uma Rajagopal
Posted on January 10, 2022
[300 Pages Report] The power transformer market is poised to grow at 4.6% CAGR from 2021 to 2031, with overall valuation expected to reach US$ 21.9 billion in 2021. Future Market Insights (FMI) forecasts total sales to surpass 2000 units by the end of 2031.
Some of the leading market players are ABB, General Electric, Siemens AG, Toshiba Corporation, and Schneider Electric. Among these companies, ABB holds around 12% of the market, while General Electric accounts for 8% of the overall share.
To remain ‘ahead’ of your competitors, request for a sample @
https://www.futuremarketinsights.com/reports/sample/rep-gb-10800
The power transformer market exhibited year-on-year growth of 4% in 2021, backed by increasing efforts towards incorporating modern energy solutions in existing power system and high demand of efficient and reliable power supply. Future Market Insights (FMI) states that, power transformer market revenue grew by 10% between 2019 and 2021, reaching US$ 21.9 billion in 2021 with a healthy CAGR of 4.6%.
Focus on upgrading the existing power grid network with modern energy technology for flexible, secure, efficient, and reliable supply of power will emerge as a chief growth driver.
Transformers are critical component in power transmission system as their main function is to receive power with low voltage and transmit it across various distribution channels in power grid. Increasing demand for electricity, increasing investment to expand transmission and distribution network will drive the power transformer market growth in upcoming years.
For instance, as of 2021 Adani power has around 5 ongoing power projects with capacity ranging from 1300 MW to 2700 MW in Indian states of Rajasthan, Madhya Pradesh, Gujarat, Karnataka, and Jharkhand. Rise in number of new power projects in developing countries will boost the market sales over the forecast period.
Rising urgency to replace the aging power infrastructure with smart grid system along with increasing penetration of renewable energy and development of interconnected grid infrastructure are key growth drivers in developed economies.
Future prospects look promising for power transformer market due to thriving construction and mining industries, emergence of new smart cities with modern power transmission system and adoption of green transformers.
Market players are focusing on developing power transmission systems capable of handling flow of stored and renewable energy throughout the grid system. Advancement towards designing system for efficient management of electricity transmission and distribution as a part of disaster recovery efforts along with redefining electrical grids to reduce operational costs and lead times will positively influence the market growth in the future.
Key Takeaways from FMI’s Power Transformer Market Study
For critical insights on this market, request to ask an expert here @
https://www.futuremarketinsights.com/ask-question/rep-gb-10800
“Increasing demand for upgrading traditional transmission system to sustain high voltage power transfer and incorporation of smart grids will boost the demand for power transformer in upcoming years,” says the FMI analyst.
Who is Winning?
Future Market Insights highlights the key trends emerging in the power transformer market and discusses the strategies employed by market players to strengthen their market position.
Leading market players account for 35% global market share. They are focusing on new product development like green transformers to reduce the carbon footprint and are also emphasizing on establishing production and supply operations in key high-demand demographics like South East Asia. In addition, key players have been increasing production outputs and moving manufacturing plants to developing countries to reduce lead times and operation costs.
For instance, in July 2021, General Electric won orders for manufacturing 45 units of 765 kV transformers from Power Grid Corporation of India Limited (PGCIL) for the new sub stations to be constructed in Rajasthan, India. The new transformers will dissipate around 8.1gigawatt (GW) of green power from the state’s solar energy zones.
In March 2021, First Philec Inc. announced to launch super green transformer by the end of 2021. First Philec Inc. is a unit of First Philippine Holdings Corp. and one of the leading manufacturers of high efficiency transformers in South East Asia region. The super green transformer will be made of recyclable and biodegradable materials.
Hitachi ABB Power Grids launched two new traction transformers, “RESIBLOC® CRail 25 kV” and “Natural Cooling Effilight® Traction Transformer” in June 2021. The latter model replaces traditional cooling module with natural airflow system. It uses a state of the art cooling system that harnesses natural air flow from the train’s motion and sends it to heat exchanger thus eliminating the need for air fans.
Prominent players operating in the power transformer market are:-
For More Information or Query or Customization Before Buying, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-10800
More Insights On The Power Transformer Market
In its latest report, FMI offers an unbiased analysis of the global power transformer market, providing historical data for the period of 2019-2029 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of by product type (core and shell), by insulation type (dry and wet), by phase type (single phase and three phase), by application type (generation set-up and transmission), by end use ( residential & commercial, utilities, and industrial), by voltage type (100-200kV, 200-400 kV, and above 400 kV) and by region (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East and Africa)
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/Power-Transformer-Market
Press Release Source: https://www.futuremarketinsights.com/press-release/Power-Transformer-Market
[300 Pages Report] The power transformer market is poised to grow at 4.6% CAGR from 2021 to 2031, with overall valuation expected to reach US$ 21.9 billion in 2021. Future Market Insights (FMI) forecasts total sales to surpass 2000 units by the end of 2031.
Some of the leading market players are ABB, General Electric, Siemens AG, Toshiba Corporation, and Schneider Electric. Among these companies, ABB holds around 12% of the market, while General Electric accounts for 8% of the overall share.
To remain ‘ahead’ of your competitors, request for a sample @
https://www.futuremarketinsights.com/reports/sample/rep-gb-10800
The power transformer market exhibited year-on-year growth of 4% in 2021, backed by increasing efforts towards incorporating modern energy solutions in existing power system and high demand of efficient and reliable power supply. Future Market Insights (FMI) states that, power transformer market revenue grew by 10% between 2019 and 2021, reaching US$ 21.9 billion in 2021 with a healthy CAGR of 4.6%.
Focus on upgrading the existing power grid network with modern energy technology for flexible, secure, efficient, and reliable supply of power will emerge as a chief growth driver.
Transformers are critical component in power transmission system as their main function is to receive power with low voltage and transmit it across various distribution channels in power grid. Increasing demand for electricity, increasing investment to expand transmission and distribution network will drive the power transformer market growth in upcoming years.
For instance, as of 2021 Adani power has around 5 ongoing power projects with capacity ranging from 1300 MW to 2700 MW in Indian states of Rajasthan, Madhya Pradesh, Gujarat, Karnataka, and Jharkhand. Rise in number of new power projects in developing countries will boost the market sales over the forecast period.
Rising urgency to replace the aging power infrastructure with smart grid system along with increasing penetration of renewable energy and development of interconnected grid infrastructure are key growth drivers in developed economies.
Future prospects look promising for power transformer market due to thriving construction and mining industries, emergence of new smart cities with modern power transmission system and adoption of green transformers.
Market players are focusing on developing power transmission systems capable of handling flow of stored and renewable energy throughout the grid system. Advancement towards designing system for efficient management of electricity transmission and distribution as a part of disaster recovery efforts along with redefining electrical grids to reduce operational costs and lead times will positively influence the market growth in the future.
Key Takeaways from FMI’s Power Transformer Market Study
For critical insights on this market, request to ask an expert here @
https://www.futuremarketinsights.com/ask-question/rep-gb-10800
“Increasing demand for upgrading traditional transmission system to sustain high voltage power transfer and incorporation of smart grids will boost the demand for power transformer in upcoming years,” says the FMI analyst.
Who is Winning?
Future Market Insights highlights the key trends emerging in the power transformer market and discusses the strategies employed by market players to strengthen their market position.
Leading market players account for 35% global market share. They are focusing on new product development like green transformers to reduce the carbon footprint and are also emphasizing on establishing production and supply operations in key high-demand demographics like South East Asia. In addition, key players have been increasing production outputs and moving manufacturing plants to developing countries to reduce lead times and operation costs.
For instance, in July 2021, General Electric won orders for manufacturing 45 units of 765 kV transformers from Power Grid Corporation of India Limited (PGCIL) for the new sub stations to be constructed in Rajasthan, India. The new transformers will dissipate around 8.1gigawatt (GW) of green power from the state’s solar energy zones.
In March 2021, First Philec Inc. announced to launch super green transformer by the end of 2021. First Philec Inc. is a unit of First Philippine Holdings Corp. and one of the leading manufacturers of high efficiency transformers in South East Asia region. The super green transformer will be made of recyclable and biodegradable materials.
Hitachi ABB Power Grids launched two new traction transformers, “RESIBLOC® CRail 25 kV” and “Natural Cooling Effilight® Traction Transformer” in June 2021. The latter model replaces traditional cooling module with natural airflow system. It uses a state of the art cooling system that harnesses natural air flow from the train’s motion and sends it to heat exchanger thus eliminating the need for air fans.
Prominent players operating in the power transformer market are:-
For More Information or Query or Customization Before Buying, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-10800
More Insights On The Power Transformer Market
In its latest report, FMI offers an unbiased analysis of the global power transformer market, providing historical data for the period of 2019-2029 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of by product type (core and shell), by insulation type (dry and wet), by phase type (single phase and three phase), by application type (generation set-up and transmission), by end use ( residential & commercial, utilities, and industrial), by voltage type (100-200kV, 200-400 kV, and above 400 kV) and by region (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East and Africa)
Explore wide-ranging Coverage of FMI’s Industrial Automation Market Insights Landscape
Building Automation Systems Market – lobal building automation systems market to reach a valuation of US$ 44.6 Bn in 2021. After countering the initial impacts of COVID-19, the market is poised to grow at a robust 7.8% CAGR through 2031.
China Industrial Hoses Market – In 2021, the China Industrial hoses market is estimated to record 5.7% year on year growth, bucking initial scepticism about how the market would perform during a global pandemic. In China, the total demand of industrial hoses is expected to reach 548 Mn Meters by 2031.
Chilled Beam System Market – Growing demand for energy-efficient and cost-effective cooling systems across various infrastructural projects is driving sales in the global chilled beam system market. Future Market Insights (FMI) in its recent market survey projects the market to expand at a steady 5.5% CAGR over the assessment period 2021 to 2031.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/Power-Transformer-Market
Press Release Source: https://www.futuremarketinsights.com/press-release/Power-Transformer-Market
