Call Us Sign-Up/Sign-In
Spain Brazil Russia France Germany China Korea Japan

Artificial Intelligence driven Marketing Communications

iCrowdNewswire Jan 22, 2021 2:00 PM ET

Transformer Market 2021: Industry Latest Trends, Growth, Overview, Price Trend, Key Factors, Comprehensive Analysis, Outlook and Forecast – 2023


iCrowd Newswire - Jan 22, 2021

mrfr 11

Market Scenario

Transformers cover a very diverse subject area that encompasses both, small and very large components. Transformers can be segmented on the basis of type as distribution transformer, power transformer and others, which includes instrument transformer. Transformer systems have been governing the renewable and non-renewable energy markets in recent years owing to its ability to transmit & distribute the energy in the form of electricity through reducing the current ampere and increasing the voltage and vice versa, to supply power according to end-user needs.

The global rise in conventional and non-conventional power generation is creating a wide scope for the development of electrical components on large scale. The biggest new investment over the succeeding decade will be in China and India as they seek to encounter rising electricity demand while renovating their grids. Developed countries will also be investing significantly, particularly in smart grid infrastructure and renewable energy integration. Transmission and distribution investment is expected to be significant in all major geographies. The growing urbanization and industrialization with development of new data centers across the world, are continuously enhancing the technological aspects. This advancement has created a growing demand for electrical appliance and infrastructure in utility, residential & commercial and industrial sectors. The growth is inter-related with the growth in the transmission and distribution network, so as to supply power to these sector with appropriate power rating and frequency. All these major factors contribute hugely in the development of new transmission and distribution network across the globe, which indirectly boosts the transformer market.

Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/5982

Global Transformer market was valued at USD 39,316.8 million in 2016 and is estimated to reach USD 64,514.9 million by 2023 with a CAGR of 7.43% over the forecast period.

Drivers

 Transformer Market is anticipated to expand at a CAGR 7.43% by 2023-Press release image-00

Oil-Cooled Transformer by cooling type segment, small power by power rating segment, power transformer by type segment, liquid Immersed by insulation segment and utility by end-user segment are expected to hold the largest market size in forecast period.

The transformer market has been segmented based on cooling type, power rating, type, insulation, and end-user. On the basis of cooling type, Oil-Cooled Transformer accounted for the largest market share of 57.2% in 2016, with a market value of USD 22,493.1 million. It is projected to register the highest CAGR of 7.68% during the forecast period. Based on power rating, Small Power accounted for the largest market share of 45.5% in 2016, with a market value of USD 17,881.3 million; projected to witness a CAGR of 7.57% during the forecast period. Based on type, Power transformer accounted for the largest market share of 49.7% in 2016, with a market value of USD 19,540.5 million; projected to register a CAGR of 8.55% during the forecast period. Based on insulation, Liquid-Immersed accounted for the largest market share of 58.6% in 2016, with a market value of USD 23,039.7 million; projected to register a CAGR of 7.61% during the forecast period. Based on End-User, Utility accounted for the largest market share of 43.1% in 2016, with a market value of USD 16,938.5 million; projected to witness a CAGR of 7.79% during the forecast period.

Scope of the Report

This study provides an overview of the global transformer market, tracking five market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for Americas, Europe, Asia Pacific and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global transformer market by type, by end-users, and by regions.

Request for Report Discount: https://www.marketresearchfuture.com/check-discount/5982

Global Transformer Market, By Type

Global Transformer Market, By Power Rating

Global Transformer Market, By Cooling Type

Global Transformer Market, By Insulation

Global Transformer Market, By End-User

Global Transformer Market, By Region

Key Players

The key players of global transformer market are ABB Ltd., (Switzerland), Eaton Corporation plc (Ireland), Schneider Electric (France), Siemens AG (Germany), and Crompton Greaves Ltd. (India). Mitsubishi Electric Corporation (Japan), Toshiba Corporation (Japan), Bharat Heavy Electricals Limited (India), Hyosung Power & Industrial Solutions (South Korea) and SPX Transformer Solutions, Inc. (U.S.) are among others.

Do You Have Any Query ? Ask to Our Industry Expert @ https://www.marketresearchfuture.com/enquiry/5982

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact

Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com

Contact Information:

info@marketresearchfuture.com






Keywords:    Transformer Market, Transformer Market 2020, Transformer Market 2021, Transformer Market Size, Transformer Market Share, Transformer Market Analysis, Transformer Market Forecast, Transformer

Tags:    Reportedtimes, Research Newswire, English