Oil Immersed Power Transformer

Oil Immersed Power Transformer

Oil immersed power transformer market is a significant component of the global power transformer industry, that has a crucial role in voltage regulation and power distribution. Oil-immersed transformers or oil-filled transformers are cooled and insulated by the application of mineral oil which increases the efficiency and serviceability of the transformers. Its growth is attributed to the increasing global power demand, especially in the developing nations, and refresher upgrading of existing aging markets in the developed countries. Also, the ever-growing reliance and incorporation of renewable energy forms that authorities are increasingly linking to the power grids further drives demand for more efficient transformers, and thus the market. Increased scrutiny over the environment has also influenced the transformer design and its materials through standards that encourage efficiency losses.

• Based on installation, the oil-immersed power transformer market is segmented into pad-mounted, pole-mounted, and substation installation. The substation installation segment caters to a significant share of the market. Substation installations for high voltage and large power transmission capacity are extensively used for most transmission and distribution networks. They are an essential part of the grid structures especially where the voltage level structures are large and complex. Moreover, substations come into request due to the fast growth of the urbanization and industrialization processes as such areas have a large and continuously increasing power consumption. One of the factors that increase the demand for substation transformers is the constant development of built-up areas and the construction of industrial facilities.
• Based on phase, the oil-immersed power transformer market is categorized into single-phase and three-phase. The three-phase acquires a major market share in oil-immersed power transformers. Three-phase transformers are used for power distribution and more so for industrial purposes, as they have high power ratings, and their efficiency is high. For applications such as utility grids and industrial plants, they can receive and endure larger power loads. Furthermore, most of the industrial and commercial areas use the three-phase power to run large and powerful machinery, manufacturing plants, other power-using facilities, etc. It also helps the three-phase segment dominate the market for global use, as the main application is found in the industrial and commercial sectors.
• Based on voltage, the oil-immersed power transformer market is segmented into Low Voltage, Medium Voltage, and High Voltage. The high voltage segment caters to a significant share of the oil-immersed power transformer. The high voltage transformers are used widely for the transmission of electricity from the power plants to the substations and finally to the consumer units. The continuous growth of electric power consumption in developed and developing countries requires the implementation of effective high-voltage transmission systems. High voltage transformers engage in this infrastructure to increase the voltage for transport over long distances and to decrease it at substations where it is fed to consumers. Furthermore, given the increases in both urban and industrial activity, there are higher demands for load-capacitive and effective electricity distribution. They are critical for the reception of high voltage and management of power load as well as ensuring adequate system dependability.
• Based on end-user, the oil-immersed power transformer market is classified into industrial, residential & commercial, and utilities. The utility segment holds a significant share of the oil-immersed power transformer market. Utilities engage in the advancement of the electrical grid system and for this, the use of power transformers is inevitable. Investments in transformers occur as new cities develop or extensions to cities take place and as electric companies extend to span remote areas for electrification. In most areas, the underlying power infrastructure is old and hence in need of upgrading or replacement. Utilities are in the process of retrofitting old transformers with new efficient and modern oil-immersed transformers.
• For a better understanding of the market adoption of the oil-immersed power transformer, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, and Rest of Asia-Pacific), Rest of World. Asia-Pacific has significantly contributed to the expansion of the oil-immersed power transformer industry because of growth in urbanization, industrialization, and infrastructure development. The population in the region and subsequently the electricity demand has risen rapidly and hence the requirement for numerous upgrades and extensions of the power grids is a continuing incentive for the use of oil-immersed transformers. China, India, and the countries of South-East Asia account for the major portion of this growth. For instance, in 2023, China again recorded huge investment in renewable energy projects as well as installment of the power grid. The State Grid Corporation of China and the China Southern power grid are likely to propel the spending on oil-immersed transformers for new transmission and replacing old ones.
• Some of the major players operating in the market include ABB Group, Siemens AG, Schneider Electric SE, Eaton Corporation PLC, Hitachi, Ltd., General Electric Company, Fuji Electric Co. Ltd., Toshiba Corporation, Voltamp Transformers Limited, and YueBian Electric Co., Ltd.