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), By Regions (North America, Latin America, Europe, Asia Pacific, Middle East, And Africa) And Competitive Landscape
Product Code: ETC150155 | Publication Date: Dec 2023 | Updated Date: Jan 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 300 | No. of Figures: 90 | No. of Tables: 30 | |
Global Transformer Market report thoroughly covers the market by Core, Product, Winding, Application, Cooling, Phase, Rating, and Regions. 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.
Global Transformer Market is anticipated to gain momentum during the upcoming years owing to the integration of renewable sources of energy. The increasing electrification program backed by rising initiatives by the government beholds the Transformer Market Growth. Favorable government policies regarding the development of existing infrastructure are adding to the Transformer Market Share. Increasing focus on the integration of energy-efficient electricity supply sources drives the growth of the Transformer Market in the world.
According to 6Wresearch, the Global Transformer Market size is estimated to grow at a CAGR of 6% during 2024-2030. The global transformer market is predominantly driven by the increasing investments in smart grid infrastructure and the growing demand for electricity. The rise in urbanization and industrialization has also led to the construction of new power plants, which has further stimulated the growth of the transformer market. Technological advancements such as the development of smart transformers, which are equipped with sensors to manage energy demand and supply, have further contributed to the growth of the market. Furthermore, the adoption of renewable energy sources such as wind and solar power has increased the demand for transformers, as they are required for power transfer from renewable sources to the grid.
The global transformer market is facing several challenges that are hampering its growth. The industry is highly competitive, with several players vying for market share, which has led to price wars and limited profitability. The fluctuating prices of raw materials such as copper and aluminum have also added to the challenges faced by the transformer market. Technological advancements have led to the development of new and more efficient transformers, which has further increased the competition. Finally, governments are implementing policies to reduce carbon emissions, which has led to a shift towards renewable energy and further impacted the growth of the transformer market.
The global transformer market is dominated by several key players, including ABB Ltd, Siemens AG, Crompton Greaves Ltd, General Electric Company, and Mitsubishi Electric Corporation. These companies have a significant market share and are continuously investing in research and development to stay ahead of the competition. The companies are also expanding their global footprint by entering new markets and acquiring smaller players to increase their market share.
Governments across the world are implementing policies to promote renewable energy, reduce carbon emissions, and improve energy efficiency. The European Union has set a target of reducing greenhouse gas emissions by 40% by 2030, which has led to a shift towards renewable energy and energy-efficient infrastructure. The Indian government has also set a target of achieving 195 GW of renewable energy by 2022 and is taking steps to increase energy efficiency and reduce carbon emissions. In the United States, the Department of Energy has implemented several policies to promote renewable energy and energy efficiency, including tax incentives and research funding for renewable energy projects.
The power transformer segment is the leading product type in the global transformer market, mainly due to the growth of renewable energy and the need for more efficient energy grids.
According to Sumit, Senior Research Analyst, 6Wresearch, the Asia-Pacific region is anticipated to account significant share owing to the shifting trends towards energy-efficient technologies.
Key Attractiveness of the Report
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Core
By Product
By Winding
By Application
By Cooling
By Phase
By Rating
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 Global Transformer Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Transformer Market Revenues & Volume, 2020 & 2030F |
3.3 Global Transformer Market - Industry Life Cycle |
3.4 Global Transformer Market - Porter's Five Forces |
3.5 Global Transformer Market Revenues & Volume Share, By Regions, 2020 & 2030F |
3.6 Global Transformer Market Revenues & Volume Share, By Core, 2020 & 2030F |
3.7 Global Transformer Market Revenues & Volume Share, By Product, 2020 & 2030F |
3.8 Global Transformer Market Revenues & Volume Share, By Winding, 2020 & 2030F |
3.9 Global Transformer Market Revenues & Volume Share, By Application, 2020 & 2030F |
3.10 Global Transformer Market Revenues & Volume Share, By Cooling, 2020 & 2030F |
3.11 Global Transformer Market Revenues & Volume Share, By Phase, 2020 & 2030F |
3.12 Global Transformer Market Revenues & Volume Share, By Rating, 2020 & 2030F |
4 Global Transformer Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Transformer Market Trends |
6 Global Transformer Market, 2020-2030 |
6.1 Global Transformer Market, Revenues & Volume, By Core, 2020-2030 |
6.2 Global Transformer Market, Revenues & Volume, By Product, 2020-2030 |
6.3 Global Transformer Market, Revenues & Volume, By Winding, 2020-2030 |
6.4 Global Transformer Market, Revenues & Volume, By Application, 2020-2030 |
6.5 Global Transformer Market, Revenues & Volume, By Cooling, 2020-2030 |
6.6 Global Transformer Market, Revenues & Volume, By Phase, 2020-2030 |
6.7 Global Transformer Market, Revenues & Volume, By Rating, 2020-2030 |
7 North America Transformer Market, 2020-2030 |
7.1 North America Transformer Market, Revenues & Volume, By Core, 2020-2030 |
7.2 North America Transformer Market, Revenues & Volume, By Product, 2020-2030 |
7.3 North America Transformer Market, Revenues & Volume, By Winding, 2020-2030 |
7.4 North America Transformer Market, Revenues & Volume, By Application, 2020-2030 |
7.5 North America Transformer Market, Revenues & Volume, By Cooling, 2020-2030 |
7.6 North America Transformer Market, Revenues & Volume, By Phase, 2020-2030 |
7.7 North America Transformer Market, Revenues & Volume, By Rating, 2020-2030 |
8 Latin America Transformer Market, 2020-2030 |
8.1 Latin America Transformer Market, Revenues & Volume, By Core, 2020-2030 |
8.2 Latin America Transformer Market, Revenues & Volume, By Product, 2020-2030 |
8.3 Latin America Transformer Market, Revenues & Volume, By Winding, 2020-2030 |
8.4 Latin America Transformer Market, Revenues & Volume, By Application, 2020-2030 |
8.5 Latin America Transformer Market, Revenues & Volume, By Cooling, 2020-2030 |
8.6 Latin America Transformer Market, Revenues & Volume, By Phase, 2020-2030 |
8.7 Latin America Transformer Market, Revenues & Volume, By Rating, 2020-2030 |
9 Europe Transformer Market, 2020-2030 |
9.1 Europe Transformer Market, Revenues & Volume, By Core, 2020-2030 |
9.2 Europe Transformer Market, Revenues & Volume, By Product, 2020-2030 |
9.3 Europe Transformer Market, Revenues & Volume, By Winding, 2020-2030 |
9.4 Europe Transformer Market, Revenues & Volume, By Application, 2020-2030 |
9.5 Europe Transformer Market, Revenues & Volume, By Cooling, 2020-2030 |
9.6 Europe Transformer Market, Revenues & Volume, By Phase, 2020-2030 |
9.7 Europe Transformer Market, Revenues & Volume, By Rating, 2020-2030 |
10 Asia Pacific Transformer Market, 2020-2030 |
10.1 Asia Pacific Transformer Market, Revenues & Volume, By Core, 2020-2030 |
10.2 Asia Pacific Transformer Market, Revenues & Volume, By Product, 2020-2030 |
10.3 Asia Pacific Transformer Market, Revenues & Volume, By Winding, 2020-2030 |
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), By Regions (North America, Latin America, Europe, Asia Pacific, Middle East, And Africa) And Competitive Landscape
Product Code: ETC150155 | Publication Date: Jul 2022 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 300 | No. of Figures: 90 | No. of Tables: 30 |
Global Transformer Market report thoroughly covers the market by various trends and segments. 6W tracks the transformer market for over 60 countries with individual country-wise market opportunity assessments and publishes the report titled Global Transformer Market outlook report annually.
Global Transformer Market report thoroughly covers the market by Core, Product, Winding, Application, Cooling, Phase, Rating, and Regions. 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.
Global Transformer Market is anticipated to gain momentum during the upcoming years owing to the integration of renewable sources of energy. The increasing electrification program backed by rising initiatives by the government beholds the Transformer Market Growth. Favorable government policies regarding the development of existing infrastructure are adding to the Transformer Market Share. Increasing focus on the integration of energy-efficient electricity supply sources drives the growth of the Transformer Market in the world. Moreover, the growing transformer manufacturing industry is also adding to the development of the industry. Various innovations in the technology coupled with a rising inclination toward renewable power are adding to the Transformer Market Share.
According to 6Wresearch, Global Transformer Market size is projected to register growth during 2021-2027. Rising government policies towards electrification in rural areas backed by growing concern for minimizing power theft adds to the Transformer Market Revenue. Additionally, the new technological innovations trigger the potential growth of the Transformer Market in the world. The outbreak of COVID-19 led to the decline in the growth of the transformer market owing to the downfall in the power demand from industrial and commercial industries. The worldwide restrictions also led to the pause in the under-construction projects and delayed the upcoming projects further hampering the growth of the Transformer Market.
On the basis of insulation, the gas insulated segment is expected to dominate the market during the upcoming years on account of rising public and private investment in the expansion of grid infrastructure.
On the basis of region, the Asia-Pacific region is anticipated to account significant share owing to the shifting trends towards energy-efficient technologies.
Reports | |
Asia Pacific Transformer Market | Latin America Transformer Market |
Middle East Transformer Market | Europe Transformer Market |
North America Transformer Market | Africa Transformer Market |
The report provides a detailed analysis of the following market segments: