Global power transformer market is projected to display a tremendous growth represented by a CAGR of 7.60% during 2017 – 2022

Date: 12 June 2017

Transformer market has been growing due to major developments in power sector. Power transformers are the one that are meant to handle high voltages at generation, transmission and distribution end. Rising electrification in developing countries and infrastructure change in developed economies has led to a rapid growth in the power transformer market. Renewable energy generation and smart grid an installation has also increased the demand of power transformers. In recent decade, transformer has stimulated abundant research and development due to which amorphous core transformer is emerging with a high growth rate on the account of large energy saving and longer life span. 

According to Azoth Analytics research report, “GlobalPower Transformer Market – By Rating (Small, Medium, Large), By Output Voltage(Step-Down, Step-Up), By Core Materials (Solid Iron/Steel, Silicon Steel,Amorphous Steel), By Cooling/Insulation (Dry-Type, Liquid Filled), By Region,By Country: An Analysis (2017-2022) - By Region (North America, Europe, Asia Pacific, Middle East & Africa, South America), By Country (U.S., Canada, Germany, France, U.K., China, India, Iran, Saudi Arabia, Brazil)” global market is projected to display a tremendous growth represented by a CAGR of 7.60% during 2017 – 2022, chiefly driven by rising demand of electricity, renewable energy integration, smart grid installations, replacement of aging infrastructure, transmission and distribution development.

Large rating power transformers are growing at a fast pace due to the increasing installations of high capacity power plants. At the same time, wide range of Dry-Type power transformers are being manufactured due to its large demand. Among the regions, APAC accounts for the largest regional share in the total power transformer market in 2016 and is predicted to advance at the highest rate, mainly driven by its emergence as a manufacturing hub and large scale development in power sector including projects on renewable energy and smart grid installation. 

Installations of high rating power plants have increased the market of large power transformers of more than 250MVA capacity. However, there are certain challenges that will need to be addressed, including its high cost, fire hazard, and large number of protective devices. Further, the growing demand of Dry-type transformers will also going to boost the global market in the forecast period. Government policies of energy saving to use energy efficient products have led many manufacturers to set up new amorphous transformer manufacturing plants. In the recent years, many companies are dedicated in developing amorphous metal transformers, with the major focus on energy saving and low maintenance cost.

The report titled, “GlobalPower Transformer Market – By Rating (Small, Medium, Large), By Output Voltage(Step-Down, Step-Up), By Core Materials (Solid Iron/Steel, Silicon Steel,Amorphous Steel), By Cooling/Insulation (Dry-Type, Liquid Filled), By Region,By Country: An Analysis (2017-2022) - By Region (North America, Europe, Asia Pacific, Middle East & Africa, South America), By Country (U.S., Canada, Germany, France, U.K., China, India, Iran, Saudi Arabia, Brazil)” has covered and analysed the potential of Global Power Transformer Market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the global power transformer market. Additionally, the report also highlights market entry strategies for various companies across the globe. 

A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of Global Power Transformer Market; By Region (North America, Europe, APAC, Middle East & Africa and South America) and By Country (U.S., Canada, Germany, France, U.K., China, India, Iran, Saudi Arabia and Brazil)

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