The GMI Research forecasts that the Power Transformers Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the growing deployment of renewable infrastructure for power generation and the upgradation and expansion of existing grid infrastructure.

Introduction of the Power Transformers Market:

Power transformer is an electric device primarily used to receive low voltage generator electric power and transfer it across distribution channels across the power grid network. It is an essential part of the power grid and assists in transmitting of power from one network to the other without change in frequency. These are very different from other transformers as they are fabricated to meet the regulatory requirements from main power interfacing, working at high voltages, and main voltages.

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Key Players of the Global Power Transformers Market:

• SPX Transformer Solutions, Inc.
• Bharat Heavy Electricals Limited
• Hyundai Heavy Industries Co., Ltd
• Toshiba Corporation
• Siemens AG
• Hyosung Group
• Mitsubishi Electric Corporation
• Crompton Greaves Limited
• GE Company
• ABB Ltd

Power Transformers Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Several major drivers enhancing the growth of the global power transformers market includes the favourable strategic initiatives, the mounting demand for smart grid development and the modernisations in the power transformer. Government across various regions have introduced several initiatives for the implementation of smart grid technology to minimize greenhouse gas emission and improve energy efficiency of production and electricity at homes, public institutes, and businesses. This technology plays a vital role in the establishment of plug-in hybrid electric vehicles. In addition, other factors including the ongoing technological advancements in the existing power grids and the extension in the renewable energy sector are propelling the market share. A smart grid accounts to be very important observation for the integration of renewable energy into the electrical grid. The progression will help in address the needs of smart grids. It will raise energy security, urban air quality, curb greenhouse gas emissions, and offer better grid utilization. Moreover, transformers provide the indispensable amount of power needed by the systems. Therefore, robust demand along with the initiatives for prospering smart grid will energize the growth of the market. However, their inflated value as compared to the traditional transformers may hamper the market growth.

Rating Segment Drivers

On the basis of rating, small power transformer is projected to witness a higher growth rate over the coming years. This is attributed to their increasing endorsement by many small industries and easy customization option as per the customers’ requirement.

Cooling Method Segment Drivers

Based on the cooling method, the market is segmented into oil-cooled and air cooled. Among these, the oil cooled is envisioned to observe an expansion in the growth rate owing to their wide-spread adoption by several industries.

Regional Drivers

Based on regional coverage, North America is expected to hold the highest share in the market during the forecast period due to the rapid industrialization and growing urban population. On the other hand, Asia-Pacific may experience a robust demand in the near future. This is mainly because of the swift economic development and the increasing need for reliable power.

Power Transformers Market Segmentation:

Segmentation by Rating

• Small Power Transformer (Up to 60MVA)
• Medium Power Transformer (61 – 600MVA)
• Large Power Transformer (Above 600MVA)

Segmentation by Cooling Method

• Oil-Cooled
• Air-Cooled

Segmentation by Region:

• North America
  • United States of America
  • Canada

• Asia Pacific
  • China
  • Japan
  • India
  • Rest of APAC
• Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Rest of Europe
• RoW
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of the world (remaining countries of the LAMEA region)

Other Other Relevant Reports

1. Microgrid Controller Market
2. Power Rental Systems Market

About GMI Research

GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.