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South Korea Transformer Market (2024-2030) | Value, Analysis, Outlook, Companies, Trends, Growth, Revenue, Forecast, Share, Industry & Size

Market Forecast By Core (Closed, Shell, Berry), By Product (Power transformer, Distribution transformer, Instrument transformer, Others), By Winding (Two-winding, Auto-transformer), By Application (Residential & Commercial, Utility, Industrial), By Cooling (Dry type, Oil Immersed), By Phase (Single phase, 3 - phase), By Rating (10 MVA, 11 MVA to 60 MVA, 61 MVA to 600 MVA, > 600 MVA) And Competitive Landscape

Product Code: ETC014263	Publication Date: Dec 2023	Updated Date: May 2024	Product Type: Report
Publisher: 6Wresearch	No. of Pages: 70	No. of Figures: 35	No. of Tables: 5

South Korea Transformer Market Competition 2023

South Korea Transformer market currently, in 2023, has witnessed an HHI of 4050, Which has increased slightly as compared to the HHI of 2829 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.

South Korea Export Potential Assessment For Transformer Market (Values in USD Thousand)

Topics Covered in South Korea Transformer Market Report

South Korea Transformer Market report thoroughly covers the market by Core, Product, Winding, application, Cooling, Rating and Phase. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

South Korea Transformer Market Synopsis

South Korea Transformer Market is expected to gain momentum during the upcoming years due to rising demand for power owing to the growing population. Rising industrialisation backed by the deployment of smart grid beholds the South Korea Transformer Market Growth. Additionally, the increasing government efforts towards rural electrification and utilisation of renewable power supply are also driving market development.

According to 6Wresearch, South Korea Transformer Market size is projected to register a CAGR of 3.2% during 2024-2030. One of the major drivers of the South Korean transformer market is the country's strong focus on renewable energy. The government is investing heavily in clean energy technologies and has set a target of generating 20% of its total energy from renewable sources by 2030. As the share of renewable energy grows, there is a corresponding need for robust and efficient transmission and distribution infrastructure, including transformers. Another driver of the South Korean transformer market is the country's rapid industrialization and urbanization. As more businesses and industries are established and more people move to urban environments, there is a growing electricity demand. Transforming this electricity to the right voltage through transformers is necessary to maintain a stable and reliable power supply.

One of the challenges facing the South Korean transformer market is the high degree of competition. The country is home to several large and medium-sized transformer manufacturers, including Hyundai Electric & Energy Systems, LSIS, and Hyosung. These companies compete fiercely for contracts, which can put pressure on prices and margins. Another challenge facing the South Korean transformer market is the requirement for technologically advanced solutions. Korea's technological advancement requires transformer manufacturers to develop innovative and efficient transformers that can maintain high-performance levels in harsh environmental conditions. This technological advance creates a steady need for investment in research and development.

Transformer Market in South Korea: Key Players

Some of the key players in the South Korean transformer market include Hyundai Electric & Energy Systems, LSIS, and Hyosung. Hyundai Electric & Energy Systems is the largest transformer manufacturer in South Korea. The Company has an extensive global network and a strong reputation for product quality and consistency. LSIS, which was previously known as LG Industrial Systems, has a diversified product portfolio, including transformers, and has been at the forefront of technological innovation. Hyosung is a large South Korean conglomerate with a significant presence in the transformer market.

South Korea Transformer Industry: Government Regulations

The South Korean government has launched various initiatives to promote the growth of the transformer market and the country's overall renewable energy sector. Recently, they announced KRW 163.5 billion ($138m) in financing to support the construction of renewable energy microgrid projects and lead the development of energy storage systems using recycled batteries. The government has also introduced various energy conservation policies and incentives to encourage the deployment of energy-efficient transformers and smart grid infrastructure.

Market Segmentation by Product

According to Parth, Senior Research Analyst, 6Wresearch, the distribution transformer segment accounted for the significant growth in the overall South Korea Transformer Market Share and is expected to dominate the market during the upcoming years as well.

Key Attractiveness of the Report

COVID-19 Impact on the Market.
10 Years Market Numbers.
Historical Data Starting from 2020 to 2023.
Base Year: 2023
Forecast Data until 2030.
Key Performance Indicators Impacting the Market.
Major Upcoming Developments and Projects.

Key Highlights of the Report

South Korea Transformer Market Outlook
Market Size of South Korea Transformer Market, 2023
Forecast of South Korea Transformer Market, 2030
Historical Data and Forecast of South Korea Transformer Revenues & Volume for the Period 2020 - 2030
South Korea Transformer Market Trend Evolution
South Korea Transformer Market Drivers and Challenges
South Korea Transformer Price Trends
South Korea Transformer Porter's Five Forces
South Korea Transformer Industry Life Cycle
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Core for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Closed for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Shell for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Berry for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Product for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Power transformer for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Distribution transformer for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Instrument transformer for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Others for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Winding for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Two-winding for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Auto-transformer for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Application for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Residential & Commercial for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Utility for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Industrial for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Cooling for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Dry type for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Oil Immersed for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Insulation for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Gas for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Oil for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Solid for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Air for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Others for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Phase for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Single phase for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By 3 - phase for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Rating for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By ? 10 MVA for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By 11 MVA to 60 MVA for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By 61 MVA to 600 MVA for the Period 2020 - 2030
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By > 600 MVA for the Period 2020 - 2030
South Korea Transformer Import Export Trade Statistics
Market Opportunity Assessment By Core
Market Opportunity Assessment By Product
Market Opportunity Assessment By Winding
Market Opportunity Assessment By Application
Market Opportunity Assessment By Cooling
Market Opportunity Assessment By Insulation
Market Opportunity Assessment By Phase
Market Opportunity Assessment By Rating
South Korea Transformer Top Companies Market Share
South Korea Transformer Competitive Benchmarking By Technical and Operational Parameters
South Korea Transformer Company Profiles
South Korea Transformer Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Core

Closed
Shell
Berry

By Product

Power Transformer
Distribution Transformer
Instrument Transformer
Others

By Winding

Two-Winding
Auto-Transformer

By Application

Residential & Commercial
Utility
Industrial

By Cooling

Dry-Type
Oil Immersed

By Phase

Single Phase
3 – Phase

By Rating

10 MVA
11 MVA To 60 MVA
61 MVA To 600 MVA
> 600 MVA

South Korea Transformer Market (2024-2030): FAQs

What are some growth drivers of the South Korean transformer market?

What is the major challenge faced by this industry?

Which type of transformer dominates the market?

Which are the key players operating in the South Korean transformer market?

1 Executive Summary

2 Introduction

2.1 Key Highlights of the Report

2.2 Report Description

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3 South Korea Transformer Market Overview

3.1 South Korea Country Macro Economic Indicators

3.2 South Korea Transformer Market Revenues & Volume, 2020 & 2030F

3.3 South Korea Transformer Market - Industry Life Cycle

3.4 South Korea Transformer Market - Porter's Five Forces

3.5 South Korea Transformer Market Revenues & Volume Share, By Core, 2020 & 2030F

3.6 South Korea Transformer Market Revenues & Volume Share, By Product, 2020 & 2030F

3.7 South Korea Transformer Market Revenues & Volume Share, By Winding, 2020 & 2030F

3.8 South Korea Transformer Market Revenues & Volume Share, By Application, 2020 & 2030F

3.9 South Korea Transformer Market Revenues & Volume Share, By Cooling, 2020 & 2030F

3.10 South Korea Transformer Market Revenues & Volume Share, By Insulation, 2020 & 2030F

3.11 South Korea Transformer Market Revenues & Volume Share, By Phase, 2020 & 2030F

4 South Korea Transformer Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.3 Market Restraints

5 South Korea Transformer Market Trends

6 South Korea Transformer Market, By Types

6.1 South Korea Transformer Market, By Core

6.1.1 Overview and Analysis

6.1.2 South Korea Transformer Market Revenues & Volume, By Core, 2020 - 2030F

6.1.3 South Korea Transformer Market Revenues & Volume, By Closed, 2020 - 2030F

6.1.4 South Korea Transformer Market Revenues & Volume, By Shell, 2020 - 2030F

6.1.5 South Korea Transformer Market Revenues & Volume, By Berry, 2020 - 2030F

6.2 South Korea Transformer Market, By Product

6.2.1 Overview and Analysis

6.2.2 South Korea Transformer Market Revenues & Volume, By Power transformer, 2020 - 2030F

6.2.3 South Korea Transformer Market Revenues & Volume, By Distribution transformer, 2020 - 2030F

6.2.4 South Korea Transformer Market Revenues & Volume, By Instrument transformer, 2020 - 2030F

6.2.5 South Korea Transformer Market Revenues & Volume, By Others, 2020 - 2030F

6.3 South Korea Transformer Market, By Winding

6.3.1 Overview and Analysis

6.3.2 South Korea Transformer Market Revenues & Volume, By Two-winding, 2020 - 2030F

6.3.3 South Korea Transformer Market Revenues & Volume, By Auto-transformer, 2020 - 2030F

6.4 South Korea Transformer Market, By Application

6.4.1 Overview and Analysis

6.4.2 South Korea Transformer Market Revenues & Volume, By Residential & Commercial, 2020 - 2030F

6.4.3 South Korea Transformer Market Revenues & Volume, By Utility, 2020 - 2030F

6.4.4 South Korea Transformer Market Revenues & Volume, By Industrial, 2020 - 2030F

6.5 South Korea Transformer Market, By Cooling

6.5.1 Overview and Analysis

6.5.2 South Korea Transformer Market Revenues & Volume, By Dry type, 2020 - 2030F

6.5.3 South Korea Transformer Market Revenues & Volume, By Oil Immersed, 2020 - 2030F

6.6 South Korea Transformer Market, By Insulation

6.6.1 Overview and Analysis

6.6.2 South Korea Transformer Market Revenues & Volume, By Gas, 2020 - 2030F

6.6.3 South Korea Transformer Market Revenues & Volume, By Oil, 2020 - 2030F

6.6.4 South Korea Transformer Market Revenues & Volume, By Solid, 2020 - 2030F

6.6.5 South Korea Transformer Market Revenues & Volume, By Air, 2020 - 2030F

6.6.6 South Korea Transformer Market Revenues & Volume, By Others, 2020 - 2030F

6.7 South Korea Transformer Market, By Phase

6.7.1 Overview and Analysis

6.7.2 South Korea Transformer Market Revenues & Volume, By Single phase, 2020 - 2030F

6.7.3 South Korea Transformer Market Revenues & Volume, By 3 - phase, 2020 - 2030F

6.8 South Korea Transformer Market, By Rating

6.8.1 Overview and Analysis

6.8.2 South Korea Transformer Market Revenues & Volume, By ? 10 MVA, 2020 - 2030F

6.8.3 South Korea Transformer Market Revenues & Volume, By 11 MVA to 60 MVA, 2020 - 2030F

6.8.4 South Korea Transformer Market Revenues & Volume, By > 600 MVA, 2020 - 2030F

6.8.5 South Korea Transformer Market Revenues & Volume, By > 600 MVA, 2020 - 2030F

7 South Korea Transformer Market Import-Export Trade Statistics

7.1 South Korea Transformer Market Export to Major Countries

7.2 South Korea Transformer Market Imports from Major Countries

8 South Korea Transformer Market Key Performance Indicators

9 South Korea Transformer Market - Opportunity Assessment

9.1 South Korea Transformer Market Opportunity Assessment, By Core, 2020 & 2030F

9.2 South Korea Transformer Market Opportunity Assessment, By Product, 2020 & 2030F

9.3 South Korea Transformer Market Opportunity Assessment, By Winding, 2020 & 2030F

9.4 South Korea Transformer Market Opportunity Assessment, By Application, 2020 & 2030F

9.5 South Korea Transformer Market Opportunity Assessment, By Cooling, 2020 & 2030F

9.6 South Korea Transformer Market Opportunity Assessment, By Insulation, 2020 & 2030F

9.7 South Korea Transformer Market Opportunity Assessment, By Phase, 2020 & 2030F

9.7 South Korea Transformer Market Opportunity Assessment, By Rating, 2020 & 2030F

10 South Korea Transformer Market - Competitive Landscape

10.1 South Korea Transformer Market Revenue Share, By Companies, 2023

10.2 South Korea Transformer Market Competitive Benchmarking, By Operating and Technical Parameters

11 Company Profiles

12 Recommendations

13 Disclaimer

China Transformer Market

India Transformer Market

Japan Transformer Market

Australia Transformer Market

Indonesia Transformer Market

Philippines Transformer Market

Vietnam Transformer Market

Pakistan Transformer Market

Myanmar Transformer Market

Thailand Transformer Market

Kazakhstan Transformer Market

Malaysia Transformer Market

Bangladesh Transformer Market

Azerbaijan Transformer Market

Sri Lanka Transformer Market

Nepal Transformer Market

Cambodia Transformer Market

Tajikistan Transformer Market

2020 Oct 10 : Report

Product Code: ETC014263	Publication Date: Oct 2020	Product Type: Report
Publisher: 6Wresearch	No. of Pages: 70	No. of Figures: 35	No. of Tables: 5

South Korea Transformer Market is projected to grow over the coming years. South Korea Transformer Market report is a part of our periodical regional publication Asia Pacific Transformer Market outlook report. 6W tracks transformer market for over 60 countries with individual country-wise market opportunity assessment and publishes with the report titled Global Transformer Market outlook report annually.

South Korea Transformer Market report thoroughly covers market by Core, Product, Winding, application, Cooling, Rating and Phase. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

South Korea Transformer Market Synopsis

South Korea Transformer Market is expected to gain momentum during the upcoming years on account of rising demand for power owing to the growing population. Rising industrialization backed by deployment of smart grid beholds the South Korea Transformer Market Growth. Additionally, the increasing government efforts towards rural electrification and utilisation of renewable power supply is driving the development of the market.

According to 6Wresearch, South Korea Transformer Market size is projected to register growth during 2020-2026. Stringent government regulations to reduce the carbon emission in the country is driving the South Korea Transformer Market Revenue. Additionally, the increasing penetration towards the deployment of smart grid system is propelling the growth of the market. However, the high initial cost is a restraining factor in the growth of the market. The outbreak of COVID-19 hampered the growth of the market owing to nationwide lockdown by the government that led to pause on the construction projects.

Market Analysis by Product

On the basis of product, the distribution transformer segment accounted the significant growth in overall South Korea Transformer Market Share and is expected to dominate the market during the upcoming years as well.

Key Attractiveness of the Report

COVID-19 Impact on the Market.
10 Years Market Numbers.
Historical Data Starting from 2016 to 2019.
Base Year: 2019.
Forecast Data until 2026.
Key Performance Indicators Impacting the Market.
Major Upcoming Developments and Projects.

Key Highlights of the Report:

South Korea Transformer Market Outlook
Market Size of South Korea Transformer Market, 2019
Forecast of South Korea Transformer Market, 2026
Historical Data and Forecast of South Korea Transformer Revenues & Volume for the Period 2016 - 2026
South Korea Transformer Market Trend Evolution
South Korea Transformer Market Drivers and Challenges
South Korea Transformer Price Trends
South Korea Transformer Porter's Five Forces
South Korea Transformer Industry Life Cycle
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Core for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Closed for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Shell for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Berry for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Product for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Power transformer for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Distribution transformer for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Instrument transformer for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Others for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Winding for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Two-winding for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Auto-transformer for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Application for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Residential & Commercial for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Utility for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Industrial for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Cooling for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Dry type for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Oil Immersed for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Insulation for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Gas for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Oil for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Solid for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Air for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Others for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Phase for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Single phase for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By 3 - phase for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By Rating for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By ? 10 MVA for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By 11 MVA to 60 MVA for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By 61 MVA to 600 MVA for the Period 2016 - 2026
Historical Data and Forecast of South Korea Transformer Market Revenues & Volume By > 600 MVA for the Period 2016 - 2026
South Korea Transformer Import Export Trade Statistics
Market Opportunity Assessment By Core
Market Opportunity Assessment By Product
Market Opportunity Assessment By Winding
Market Opportunity Assessment By Application
Market Opportunity Assessment By Cooling
Market Opportunity Assessment By Insulation
Market Opportunity Assessment By Phase
Market Opportunity Assessment By Rating
South Korea Transformer Top Companies Market Share
South Korea Transformer Competitive Benchmarking By Technical and Operational Parameters
South Korea Transformer Company Profiles
South Korea Transformer Key Strategic Recommendations