Insights on the Power Transformers Global Market to 2027 - Featuring ABB, Bowers Electricals and GE Grid Solutions Among Others - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 16, 2021--
The “Power Transformers - Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Transformers play a pivotal role in the generation, transmission and distribution (T&D) of electricity. Growth in the global market is steered by rising demand for electricity and the resulting new power projects coupled with expansion of the T&D network. The urgent need to replace and upgrade aging power infrastructure in the developed countries, growing prominence of renewable energy, expansion and interconnection of grid infrastructures, and exponential increase in power consumption in both developed and developing countries requiring efficient management of electricity transmission and distribution represent important factors driving growth.
Amid the COVID-19 crisis, the global market for Power Transformers estimated at US$23.9 Billion in the year 2020, is projected to reach a revised size of US$32.6 Billion by 2026, growing at a CAGR of 5.1% over the analysis period. Oil Immersed, one of the segments analyzed in the report, is projected to grow at a 5.4% CAGR to reach US$20.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Dry Type segment is readjusted to a revised 4.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $6.9 Billion in 2021, While China is Forecast to Reach $6.6 Billion by 2026
The Power Transformers market in the U.S. is estimated at US$6.9 Billion in the year 2021. The country currently accounts for a 27.1% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$6.6 Billion in the year 2026 trailing a CAGR of 7.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4.6% respectively over the analysis period.
Select Competitors (Total 93 Featured) -
- ABB Limited
- ASTOR TRANSFORMER A.S
- Bharat Heavy Electricals Limited
- Bowers Electricals Ltd.
- CG Power and Industrial Solutions Limited
- DAIHEN Corporation
- EFACEC Group
- GE Grid Solutions
- Hammond Power Solutions, Inc.
- Howard Industries, Inc.
- Hyosung Heavy Industries
- Hyundai Electric & Energy Systems Co., Ltd.
- Imefy Group
- JSHP Transformer
- Kirloskar Electric Company Limited
- KONCAR Group
- Mitsubishi Electric Corporation
- Olsun Electrics Corporation
- Schneider Electric SA
- SGB-SMIT Group
- Shihlin Electric & Engineering Corporation
- Siemens AG
- SPX Transformer Solutions, Inc.
- TBEA Co., Ltd.
- Toshiba Energy Systems & Solutions Corporation
- Wilson Power Solutions
- Wilson Transformer Company
- Winder Power Ltd.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Power Transformers: The Power to Manage Power with Greater Reliability, Efficiency, Resilience, and Durability
- Market Fortunes Intrinsically Linked to Power T&D Equipment Industry
- Surge in Energy Consumption and Resulting Expansion in Power Production and T&D Investments
- Transformations in Power Transmission Technology over the Years
- Steady Growth Projected for Power Transformers
- Developing Regions Emerge as Core Markets Amid Rising Power Infrastructure Spending
- Aging Power Transformer Fleet Underscores Need for Replacement and Upgrades in Developed Regions
- COMPETITIVE LANDSCAPE
- Power Transformers: A Consolidated Marketplace
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rising Utility Investments in Power Infrastructure for Transitioning to the Smart Grid Standard Drive Healthy Market Growth
- Power Infrastructure to Experience Considerable Transformation Driven by Modern Technology and Renewables
- Wind Power Makes Robust Progress within the Renewables Sector
- Solar Power Emerges as Reliable Renewable Energy Source
- Microgrids Ease Network Burden
- Utilities Bet on Big Data
- Renewable Energy: A Statistical Perspective
- Myriad Benefits and Superior Attributes over Traditional Transformers Drive Strong Demand for Smart Transformers
- Smart Transformers for Smarter Power Transmission and Distribution
- Traditional Vs. Smart Transformers: A Comparison
- Growing Prominence of Smart Cities and Smart Homes of the Future Necessitates Highly Capable Power T&D Networks
- Technology Improvements and Product Innovations Spearhead Market Expansion
- SGB-SMIT’s Smart Transformers
- ABB AbilityT Power Transformer
- Self-Cooling Transformers from ABB
- Siemens’ Ester Fluid-based Phase Shifting Power Transformer
- Hybrid Power Transformers Technology
- Energy Efficient and Eco-Friendly Power Transformers
- Wireless Power Transmission
- Innovative Alternative Fluids
- Design Innovation in Large Power Transformers (LPTs)
- Dryformers by ABB
- Superconductor Based Power Transformers
- HTS Transformers: Energy Efficient, Lightweight, and Small Sized
- Gas-Insulated Power Transformers
- Future for Gas-Insulated Transformers Appears Bright
- IEC Standards for Gas-Insulated Transformers
- Powerformer: A Superior Replacement for Step-Up Transformer
- Innovative On-load Tap Changers (OLTCs) Improves Reliability and Safety
- Stabilizing Regulatory Environment Augurs Well
- Proposed/Approved Standards for Transformers in Select Countries
- Demographic and Socio-Economic Trends Strengthen Market Prospects
- Ballooning Global Population
- Exponential Increase in Urban Dwellers
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/gu7s3o
View source version on businesswire.com:https://www.businesswire.com/news/home/20211116006246/en/
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INDUSTRY KEYWORD: OTHER ENERGY UTILITIES HARDWARE ALTERNATIVE ENERGY ENERGY ENGINEERING TECHNOLOGY MANUFACTURING
SOURCE: Research and Markets
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PUB: 11/16/2021 01:22 PM/DISC: 11/16/2021 01:22 PM