The global industrial control transformer market is expected to grow from an estimated USD 809.2 million in 2018 to reach USD 1,039.8 million by 2023, growing at a CAGR of 5.14% from 2018 to 2023. The growth of this market is primarily driven by the increased usage of industrial control transformers across major industries, booming power sector and augmented power generation capacities worldwide, and need to reduce equipment failure caused by frequent voltage spikes.

Browse 62 market data Tables and 36 Figures spread through 127 Pages and in-depth TOC on "Industrial Control Transformer Market by Phase (Single and Three), Power Rating (25–500 VA, 500–1,000 VA, 1,000–1,500 VA, and > 1,500 VA), End-User (Power Generation, Oil & Gas, Chemical, Metal & Mining), and Region - Global Forecast to 2023"

Asia Pacific is likely to continue to be the largest market for industrial control transformers followed by North America till 2023. The global industrial control transformer market is dominated by major players such as ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Schneider (France), GE (US), Hubbell (US), Emerson (US), and Rockwell (US).

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Growth strategies adopted by key players in the industrial control transformer market include new product launches, expansions & investments, and mergers & acquisitions. Expansions & investments was the most widely adopted strategy by market players from 2014 to February 2018. Industry players also adopted new product launches to enhance their market shares.

ABB is a global engineering company primarily engaged in power, automation, and electrification technologies. It offers a wide range of products to various industries such as utilities, industrial, infrastructure, and transportation. The company operates through 4 divisions, namely, power grids, electrification products, robotics & motion, and process automation. It provides industrial control transformers through its power grid division. The power grid product segment provides a complete range of products from high- to extra-voltage solutions to its customers, such as transformers, T&D substations, Supervisory Control and Data Acquisition (SCADA) systems, microgrid solutions, transformers, HVDC systems, high-voltage switchgear, and FACTS. ABB has been consistently spending on its research & development activities to develop innovative products. For instance, in October 2016, the company introduced a free Total Cost of Ownership (TCO) tool to help its customers determine loss capitalization factors and compare different transformer alternatives.

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Siemens is one of the leading German conglomerates that provides products and solutions for infrastructure, healthcare, and energy sectors. It conducts its operations through the following segments, namely, power & gas, energy management, building technologies, mobility, digital factory and process industries & drives, Healthineers, and Siemens Gamesa Renewable Energy. The energy management segment provides product & solutions for transmitting, distributing, and managing electrical power and intelligent power infrastructure. The company provides its products to power providers, transmission & distribution system operators, industrial companies, infrastructure developers, construction companies, distributors, and OEMs. North America and Asia Pacific were the key markets for the segment. The company focuses on its Vision 2020 roadmap to drive the performance through re-organizing its structures and responsibilities and enhancing management reliability. Its medium-term strategy is to strengthen its core businesses along with the entire value chain of electrification by allocating more resources for growing fields, scaling up high-growth businesses, and tapping new opportunities.

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