Global High Power Transformers Market Size, Drivers, Trends, Opportunities And Strategies – Includes Power Transformers Market Share
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The initiatives taken by the government to provide electricity to everyone are expected to drive innovation in high power transformers manufacturing, thus driving the market during the forecast period.
The global high power transformers market is expected to grow from $14.11 billion in 2022 to $14.79 billion in 2023 at a compound annual growth rate (CAGR) of 4.9%. The global high power transformers (801 mva to 1200 mva) market is expected to grow to $17.25 billion in 2027 at a CAGR of 3.9%.
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Global High Power Transformers Market Segments Include:
- By Phase: Single Phase, Three Phase
- By Mounting: Pad, Pole, PC/PCB, Other Mountings
- By Application: Industrial, Commercial, Residential
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global high power transformers market in 2021.
Major Market Players in the high power transformers market include ABB Ltd., Alstom, Crompton Greaves Limited, Siemens AG, Eaton, General Electric, Schneider Electric, Hyosung Power & Industrial Systems.
The transformer manufacturing market is moving towards the evolution of independent and self-regulating smart transformers. Smart transformers are programmed to constantly regulate voltage and maintain contact with the stakeholders and provide information and feedback on the power supply. They provide the exact amount of power that is needed and respond to fluctuations through a process known as voltage optimization. They significantly reduce greenhouse gas emissions and power consumption as they supply electrical equipment with the ideal amount of power. For instance, The US Department of Energy (DOE) planned to invest $7.5 million to support the research and development of smart transformers for grid resiliency. Companies should consider investing in technologies to produce smart transformers for commercial establishments.
The High Power Transformers Global Market Report 2023 provides a high power transformers market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The high power transformers market forecast analyzes high power transformers market size, high power transformers market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
High power transformers are defined as power transformers with ratings of 801 MVA to 1200 MVA and those which convert voltages, usually from higher to lower, from one stage or phase configuration to another. These high-power transformers are for electrical insulation, power distribution, control, and instrumentation.
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