Global Power Transformer Market, By Power Rating {Small Power Transformer (Up to 60MVA), Medium Power Transformer (61-600MVA), Large Power Transformer (Above 600MVA)}; By Cooling Type (Oil-cooled andAir-cooled); and Region – Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030

Product Overview

The power transformer acts as an electrical device that transfers energy between two or more circuits through electromagnetic induction. Power transformers are used to increase or decrease the voltage before transmitting electrical energy from one position to another through wires. By increasing the electrical power voltage by means of step-up transformers, the cost-effective transmission of electrical power and distribution is made possible by avoiding the loss of heat. As a result, power transformers have transformed the electricity supply industry, enabling generations to be remotely positioned from the point of demand.

 Market Highlights

Global Power Transformer Market is anticipated to exceed USD 40,350 million by 2030 from USD 24,200 million in 2020 at a CAGR of 7.75% throughout the forecast period, i.e. 2020-2030. The market is anticipated to grow on the back of rising integration of renewables to the grid, rising infrastructural spending, growing demand for electricity, and increasing investment towards the expansion of transmission.

Other than the growing consumption of electricity, the rising focus on renewable electric power generation, deployment of smart grids and smart transformers, replacement of existing aged power transformers are some other factors that are expected to boost the growth of the market for power transformer in the coming years.

Source: Fatpos Global

Global Power Transformer Market: Segments

The Small Power Transformers segment to grow with the highest CAGR of xx% during 2020-2029

Global Power Transformer Market is segmented by power ratings into Small Power Transformers (up to 60MVA), Medium Power Transformers (61-600MVA), and Large Power Transformers (above 600MVA). The small power transformer segment held the largest market share of xx% in the year 2019, mainly due to its wide application base in several small industries and also its ability to be customized as per the customers’ requirements.

By Power Ratings (in %), Global Power Transformer Market, 2019

Source: Fatpos Global

The Oil-cooled segment to grow with the highest CAGR of xx% during 2020-2030

Global Power Transformer Market is also segmented by cooling type into Oil-cooled and Air-cooled. The oil-cooled segment is estimated to hold the largest market share of xx% in the year 2019 as their usage is considered safe in high voltage conditions. With the development of a global voltage transmission network at a rapid pace, the demand for oil-cooled transformers is most likely to grow during the forecast period.

By Cooling Type (in %), Global Power Transformer Market, 2019

Source: Fatpos Global

Global Power Transformer Market: Drivers and Restraints

Increase in Transmission and Distribution Projects

The demand for power transformers is expected to be driven by an increase in transmission and distribution projects and network connections between countries. The shift towards the demand for safe and reliable power, coupled with rapid urbanization and investment in new power grids and renewable energy, high demand for electricity and the replacement of old units, especially in developing countries such as India and China, is also expected to boost the growth of the market for power transformers.

High Cost

Power transformers are more costly than traditional power transformers. The raw materials used in the production of these transformers are copper, steel, and aluminum. Transformer prices are highly dependent on the prices of these commodities. These price fluctuations can hinder the growth of the market. In addition, construction and transport costs to final transformer sites often adversely impact the development of the demand for power transformers.

Global Power Transformer Market: Regions

Asia Pacific to grow with the highest CAGR of xx% during 2020-2030

Global Power Transformer Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA. Among these, the market in the Asia Pacific is estimated to hold the largest market share of xx% in the year 2019, owing to high energy demand from the emerging geographies like India and China.

By Region (in %), Global Power Transformer Market, 2019

Source: Fatpos Global

Global Power Transformer Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
• APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC

Global Power Transformer Market: Key Players

• ABB Transformers Pvt. Ltd.DAIHEN Corporation
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis
• SPX Transformers
• Schneider Electric
• Toshiba Corporation
• Bharat Heavy Electricals Ltd.
• Hyundai Electric
• Mitsubishi Electric
• Crompton Greaves
• General Electric

Global Power Transformer Market report also contains analysis on:

• Power Transformer Market Segments:Global Power Transformer Market Dynamics
  • By Power Ratings
    • Small Power Transformers
    • Medium Power Transformers
    • Large Power Transformers
  • By Cooling Type
    • Oil-cooled
    • Air-cooled
  • By Region
    • North America
    • Latin America
    • Europe
    • Middle East & Africa
    • Asia Pacific
• Global Power Transformer Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

FAQs on Global Power Transformer Market

• Which segment is anticipated to hold the largest market share?
• At what CAGR is the market anticipated to grow between 2020 and 2030?
• Who are the key players in Global power transformer market?
• What could be the challenging factors for the growth of Global market for power transformers?
• What are the growth drivers for the power transformer market across the globe?