Lighting Transformer Market By Type (Electronic, Isolation, Magnetic), By Power Rating (Small, Medium, Large), By Application (Utility, Residential and Commercial, Industrial): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global lighting transformer market was valued at $1.2 billion in 2021, and is projected to reach $2.1 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Lighting transformers are designed to supply power to lighting equipment in a commercial, industrial, and domestic unit. Transformer primary supply is connected to higher voltage source and secondary is to be connected to load. In addition, it restricts short circuit current in the load and saves major accidents. It is also used where incoming supply is 3 phase 3 wire and lighting load is 220 Volt single phase.
Increase in demand for low voltage lighting transformers across the globe results in increase in lighting transformers, which in turn is expected to drive the growth of the market during the forecast period. In addition, growing residential and commercial sector is anticipated to be the driving factor during the forecast period. However, high cost of maintenance of low voltage lighting transformers is expected to hamper the growth of the market during the forecast period. On the contrary, increase in organic growth strategies by major key players is projected to create opportunity for these players in the lighting transformers market in the coming years.
For the purpose of analysis, the lighting transformers market scope covers segmentation based on type, power rating, application, and region. The report provides information on various types, including electronic transformer, magnetic transformer, and isolation transformer. Furthermore, the major power rating covered in the study include small, medium, and large. In addition, it outlines the details of the application such as commercial & residential, utility, and industrial. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The global lighting transformers market report covers in-depth information of the major transformers industry participants. Some of the major players in the lighting transformers market include Eaton Corporation Plc., Schneider Electric, ABB Ltd., Hitachi, Trio Transformer, Trans Power Tech, MX LightForce, Pelton Power Technologies Private Limited, Airlink Transformers, and Leviton which hold significant share of the market. These players have been adopting various strategies to gain higher share and to retain leading positions in the market.
The lighting transformers market is analyzed across the globe. Among the analyzed regions, Asia-Pacific is expected to account for the fastest-growing market throughout the forecast period, followed by Europe. The lighting transformer market is analyzed and estimated in accordance with impacts of drivers, restraints, and opportunities. The period studied in this report is 2021–2031. The report includes the study of the lighting transformer market with respect to growth prospects and restraints on the basis of regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the lighting transformer market analysis from 2021 to 2031 to identify the prevailing lighting transformer market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the lighting transformer market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global lighting transformer market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Electronic
Isolation
Magnetic
By Power Rating
Small
Medium
Large
By Application
Utility
Residential and Commercial
Industrial
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
Span
UK
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Schneider Electric
ABB
Eaton Corporation
Hitachi
Trio Transformer
Trans Power Tech
MX LightForce
Pelton Power Technologies Private Limited
Airlink Transformers
Leviton
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