Description
Global Transformer Market Analysis
Market Overview
The transformer market is predicted to experience rapid growth in the upcoming years due to factors like a significant international investment drive to upgrade current electricity transmission lines and increased public and governmental desire for better, greener energy sources. Converters are attracting a lot of interest from investors all around the world due to their function as high-efficiency power distribution equipment.
The volume of transformer sales is anticipated to increase dramatically as a result of power programs aimed at reducing losses in distribution and transmission and raising demand for transformers. With the steady dramatic transition away from carbon-based energy sources and toward renewable energy sources, there has been a significant paradigm shift in the world’s energy usage.
In the upcoming years, the dynamics of the transformer market are anticipated to be impacted globally by these shifts in the development of renewable energy.
Segment Overview
The four categories that make up the global transformer interface are Application, End users,
The market is divided into segments based on the core, product, mounting, mating, winding, insulation, phase, cooling, and geographies. Over the anticipated time, the worldwide transformer industry trends are anticipated to expand moderately. Based on the application, the market is divided into Solid, Oil, Air, Gas, and Other segments.
Based on the different types of propulsion, the market is divided into Commercial & Residential, Industrial, and Utilities segments. Due to the requirement to expand the power systems to accept additional renewable energies, the North American market is anticipated to grow more quickly. Tight regulatory compliance has been connected to digitalization and the application of intelligent technology to increase energy savings by important market participants.
Regional Analysis
Europe, Latin America, Asia-Pacific, Caribbean, and the North America make up the segments of the market. Due to the requirement to expand the power systems to accept additional renewable energies, the North American market is anticipated to grow more quickly. Because of the growing demand for infrastructure in the industry of real estate, converter market earnings are anticipated to expand.
The need for new transformers as a result of the increased demand for renewable energy sources will propel the European market for these transformers to new heights. Updating the existing and aging communications infrastructure is anticipated as a crucial component of growth. Because of a spike in power consumption, the transformer industry in the Asia Pacific region will see a considerable rise in revenue.
The extensive use of energy from renewable sources will also have a significant effect on growth. Conclusion: As commercialization and industrialization in the Africa, Latin America, and Middle East continue to develop rapidly, this will have a substantial impact on the world’s need for transformers.
Major Players
The principal sectors that affect growth include Toshiba Corporation (Japan), Schneider Electric (France), Siemens AG (Germany), Hyosung Power & Industrial Solutions (South Korea) SPX, Crompton Greaves Ltd. (India), Transformer Solutions Inc. (U.S.), ABB Ltd. (Switzerland), Eaton Corporation plc (Ireland), Bharat Heavy Electricals Limited (India), Mitsubishi Electric Corporation (Japan)
COVID 19 Impact
The biggest issues facing the sector were the COVID-19 closings and the ensuing worldwide economic slump. Due to the cutting off of supply networks for an extended period of time and the suspension of trade routes, there were several challenges and financial losses. Several electricity-related projects that were in the works but not yet completed were put on hold, as well as many that had already begun. Also, the outbreak decreased government and individual discretionary spending as well as tax collections.
Many of these concerns have caused serious problems for the global transformer industry. These issues will be greatly reduced by the increasing demand for power in the leisure and hospital sectors. Global industrialization has been spurred by an increase in the production of health products like antibacterial soaps and other disinfecting agents as a result of increased public awareness of healthy in the wake of the outbreak. As a result, this increase may even out the projected 6% CAGR for the transformer market throughout the forecast period.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
2.1 DEFINITION 17
2.2 SCOPE OF THE STUDY 17
2.3 LIST OF ASSUMPTIONS 17
2.4 MARKET STRUCTURE 18
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS 20
3.2 PRIMARY RESEARCH 21
3.3 SECONDARY RESEARCH 22
3.4 MARKET SIZE ESTIMATION 22
3.5 FORECAST MODEL 23
4 MARKET DYNAMICS
4.1 INTRODUCTION 25
4.2 DRIVERS 26
4.2.1 RISE IN TRANSMISSION & DISTRIBUTION INFRASTRUCTURE INVESTMENTS 26
4.2.2 GROWTH IN RENEWABLE ENERGY SECTOR 26
4.2.3 DRIVERS IMPACT ANALYSIS 27
4.3 RESTRAINTS 28
4.3.1 HIGH INITIAL CAPITAL COST OF TRANSFORMER 28
4.3.2 RELUCTANCE TO REPLACE AGING INFRASTRUCTURE 28
4.3.3 RESTRAINTS IMPACT ANALYSIS 29
4.4 OPPORTUNITY 29
4.4.1 GLOBAL RISE IN ELECTRICITY DEMAND 29
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY CHAIN ANALYSIS 31
5.1.1 RAW MATERIAL SUPPLIERS 31
5.1.2 MANUFACTURES & ASSEMBLERS 31
5.1.3 END-USER 31
5.2 PORTER’S FIVE FORCES MODEL 32
5.2.1 THREAT OF NEW ENTRANTS 32
5.2.2 BARGAINING POWER OF SUPPLIERS 32
5.2.3 BARGAINING POWER OF BUYERS 32
5.2.4 THREAT OF SUBSTITUTES 32
5.2.5 INTENSITY OF RIVALRY 33
6 GLOBAL TRANSFORMER MARKET, BY TYPE
6.1 OVERVIEW 35
6.1.1 DISTRIBUTION TRANSFORMER 35
6.1.2 POWER TRANSFORMER 35
6.1.3 OTHERS 35
7 GLOBAL TRANSFORMER MARKET, BY POWER RATING
7.1 OVERVIEW 39
7.1.1 SMALL POWER 39
7.1.2 MEDIUM POWER 39
7.1.3 LARGE POWER 39
8 GLOBAL TRANSFORMER MARKET, BY COOLING TYPE
8.1 OVERVIEW 42
8.1.1 OIL-COOLED TRANSFORMER 42
8.1.2 AIR-COOLED TRANSFORMER 42
9 GLOBAL TRANSFORMER MARKET, BY INSULATION
9.1 OVERVIEW 45
9.1.1 DRY TYPE 45
9.1.2 LIQUID IMMERSED 45
10 GLOBAL TRANSFORMER MARKET, BY END-USER
10.1 OVERVIEW 48
10.1.1 UTILITY 48
10.1.2 RESIDENTIAL & COMMERCIAL 48
10.1.3 INDUSTRIAL 48
11 GLOBAL TRANSFORMER MARKET, BY REGION
11.1 INTRODUCTION 52
11.2 AMERICAS 54
11.2.1 U.S. 56
11.2.2 CANADA 58
11.2.3 BRAZIL 60
11.2.4 ARGENTINA 61
11.2.5 REST OF AMERICAS 63
11.3 EUROPE 65
11.3.1 GERMANY 68
11.3.2 U.K. 70
11.3.3 RUSSIA 72
11.3.4 FRANCE 73
11.3.5 REST OF EUROPE 75
11.4 ASIA PACIFIC 78
11.4.1 CHINA 80
11.4.2 INDIA 82
11.4.3 JAPAN 84
11.4.4 AUSTRALIA 86
11.4.5 REST OF ASIA PACIFIC 88
11.5 MIDDLE EAST & AFRICA 90
11.5.1 MIDDLE EAST 92
11.5.2 AFRICA 94
12 COMPETITIVE LANDSCAPE
12.1 COMPETITIVE LANDSCAPE 97
13 COMPANY PROFILES
13.1 ABB LTD. 100
13.1.1 COMPANY OVERVIEW 100
13.1.2 FINANCIAL OVERVIEW 100
13.1.3 PRODUCTS OFFERINGS 101
13.1.4 KEY DEVELOPMENTS 102
13.1.5 SWOT ANALYSIS 103
13.1.6 KEY STRATEGY 103
13.2 EATON CORPORATION PLC 104
13.2.1 COMPANY OVERVIEW 104
13.2.2 FINANCIAL OVERVIEW 104
13.2.3 PRODUCTS OFFERINGS 105
13.2.4 KEY DEVELOPMENTS 105
13.2.5 SWOT ANALYSIS 105
13.2.6 KEY STRATEGY 106
13.3 SCHNEIDER ELECTRIC SE 107
13.3.1 COMPANY OVERVIEW 107
13.3.2 FINANCIAL OVERVIEW 107
13.3.3 PRODUCTS OFFERINGS 108
13.3.4 KEY DEVELOPMENTS 108
13.3.5 SWOT ANALYSIS 109
13.3.6 KEY STRATEGY 109
13.4 SIEMENS AG 110
13.4.1 COMPANY OVERVIEW 110
13.4.2 FINANCIAL OVERVIEW 110
13.4.3 PRODUCTS OFFERINGS 111
13.4.4 KEY DEVELOPMENTS 111
13.4.5 SWOT ANALYSIS 112
13.4.6 KEY STRATEGY 112
13.5 CROMPTON GREAVES LTD. 113
13.5.1 COMPANY OVERVIEW 113
13.5.2 FINANCIAL OVERVIEW 113
13.5.3 PRODUCTS OFFERINGS 114
13.5.4 SWOT ANALYSIS 115
13.5.5 KEY STRATEGY 115
13.6 MITSUBISHI ELECTRIC CORPORATION 116
13.6.1 COMPANY OVERVIEW 116
13.6.2 FINANCIAL OVERVIEW 116
13.6.3 PRODUCTS OFFERINGS 117
13.6.4 KEY DEVELOPMENTS 117
13.6.5 SWOT ANALYSIS 117
13.6.6 KEY STRATEGY 118
13.7 TOSHIBA CORPORATION 119
13.7.1 COMPANY OVERVIEW 119
13.7.2 FINANCIAL OVERVIEW 119
13.7.3 PRODUCTS OFFERINGS 120
13.7.4 KEY DEVELOPMENTS 120
13.7.5 SWOT ANALYSIS 121
13.7.6 KEY STRATEGY 121
13.8 BHARAT HEAVY ELECTRICALS LIMITED 122
13.8.1 COMPANY OVERVIEW 122
13.8.2 FINANCIAL OVERVIEW 122
13.8.3 PRODUCTS OFFERINGS 123
13.8.4 KEY DEVELOPMENTS 123
13.8.5 SWOT ANALYSIS 123
13.8.6 KEY STRATEGY 123
13.9 HYOSUNG POWER & INDUSTRIAL SOLUTIONS 124
13.9.1 COMPANY OVERVIEW 124
13.9.2 FINANCIAL OVERVIEW 124
13.9.3 PRODUCTS OFFERINGS 124
13.9.4 SWOT ANALYSIS 124
13.9.5 KEY STRATEGY 125
13.10 SPX TRANSFORMER SOLUTIONS, INC. 126
13.10.1 COMPANY OVERVIEW 126
13.10.2 FINANCIAL OVERVIEW 126
13.10.3 PRODUCTS OFFERINGS 127
13.10.4 KEY DEVELOPMENTS 127
13.10.5 SWOT ANALYSIS 127
13.10.6 KEY STRATEGY 127
14 APPENDIX
14.1 REFERENCES 129
