Transformers Market By Type (Distribution Transformer, Power Transformer, Others), By Power Rating (Small, Medium, Large), By Cooling Type (Air Cooled, Oil Cooled), By Insulation (Dry, Liquid Immersed), By Number of Phase (Three Phase, Single Phase), By Application (Utility, Industrial, Commercial and Residential): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global transformers market was valued at $58.6 billion in 2021, and is projected to reach $103.0 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031.
Transformer is an electronic device that transfers electric energy from AC (alternating-current) circuit to another circuits,. Transformers are static electric machines which help increase or decrease the voltage in an electrical circuit. Transformers comprise of dry, and liquid immersed insulated circuits to facilitate the utility, industrial, power and transmission platforms. These are one of the primary components for the transmission and distribution of electrical energy. . It comprises dry, and liquid immersed insulated circuits to facilitate the utility, industrial, power and transmission platforms.
Increase in demand for energy across the globe results in increase in transformers, which in turn is expected to drive the growth of the market during the forecast period. In addition, growing demand for energy in residential and commercial sector is anticipated to be the driving factor during the forecast period. On the other hand, leading companies in the transformers market are anticipated to benefit from an increase in electric car sales, which leads to an increase in charging stations. However, high risk associated with high DC voltage is expected to hamper the growth of the market during the forecast period..
The transformers 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 Transformers 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.
The transformers market is segmented on the basis of type, power rating, cooling type, number of phase, insulation application, and region. On the basis of type, it is categorized into distribution transformer power transformer, and others. On the basis of power rating, it is divided into small, medium, and large. On the basis of cooling type, it is classified into oil cooled, and air cooled. On the basis of number of phase, it is bifurcated into single phase and three phase. On the basis of insulation segmentation, it is divided into two types- dry and liquid immersed insulation. On the basis of application, it is classified into commercial, and residential sector, utility, and industrial sector. Region-wise, it is analyzed across North America, Europe, North America, and Europe.
The global transformers market report covers in-depth information of the major transformers industry participants. Some of the major players in the transformers market include ABB Ltd., Siemens AG, General Electric, Eaton., TOSHIBA CORPORATION, Schneider Electric, Mitsubishi Electric Corporation, CG Power & Industrial Solutions Ltd., VTC/GT, and SGB SMIT 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.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the transformers market analysis from 2021 to 2031 to identify the prevailing transformers 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 transformers 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 transformers market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Distribution Transformer
Power Transformer
Others
By Power Rating
Small
Medium
Large
By Cooling Type
Air Cooled
Oil Cooled
By Insulation
Dry
Liquid Immersed
By Number of Phase
Three Phase
Single Phase
By Application
Utility
Industrial
Commercial and Residential
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
UAE
Rest of LAMEA
Key Market Players
VTC/GT.
Eaton Corporation
General Electric
Mitsubishi Electric Corporation
Siemens AG
SGB-SMIT
ABB Ltd.
schnieder electric
TOSHIBA CORPORATION
CG Power and Industrial Solutions Ltd
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