Power transformers are static transmission machine, which wrap a coil around an electromagnet to transfer electricity with variable frequencies.
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Global power transformer market is expected to grow at a CAGR of 7.07% from 2016 to 2022 to reach $37,353 million by 2022 from $23,019 million in 2015.
They are usually rated above 200 MVA, which allow transmission of power over long distances at high voltages thus minimizing the transmission loss. Power transformers have allowed this shift from low-voltage power transmission to high-voltage power transmission.
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Power transformer market is currently in growth stage more so for large transformers. Increase in demand for power, cross border power transmission, global initiative to utilize more renewable and non-conventional energy sources, smart grids, and global need to upgrade transmission networks boost the global power transformer market.
Utilization of ultra-high-voltage transmission technology in the developing economies such as China and India demonstrates increase in importance of power transformers. However, high transformer cost as well as cost of protection instruments and supporting infrastructure prevents optimal utilization of power transformers throughout the world.
Global power transformer market is segmented based on transformer rating and geography. Based on the rating, the market is divided in low, medium, and high rating transformers.
Geographically, the market envelopes major countries of North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the current and emerging market trends and dynamics in the global power transformer market.
- It offers detailed quantitative analysis of the current market and estimations through 2014‐2022, which assists in identifying the prevailing market opportunities.
- Comprehensive analysis of all regions help determine the prevailing and future opportunities in these geographies.
- Key market players within the power transformer market are profiled in this report and their strategies are analyzed thoroughly, which helps understand competitive outlook of the global power transformer market.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided. For instance, worldwide high energy demand and need for upgrade of existing transmission infrastructure will drive the demand; however, high initial cost is expected to be a major restraint for the market growth.
- Exhaustive analysis of the market by rating helps understand the ratings of power transformer that are currently being used along with the variants that would gain prominence in the future.
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