Power Transformer Market Scenario

With global electrification and power backup rapidly becoming a reality, the demand, as well as market for transformers, is growing in countries where cities and villages are being electrified now or where arrangements are needed for power backup. Market Research Future (MRFR) has published a research report about the global power transformer market that adumbrates aggrandizement for this market at 8.64% CAGR (Compound Annual Growth Rate) between 2018 and 2023. By value, the market has been figured to be worth the US $ 34,510.2 mn by the end of forecast period.

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Power transformers are generally used in transmission network for stepping up or stepping down the voltage level. It operates mainly during high or peak loads and has maximum efficiency at full load. Distribution transformers steps down the voltage for distribution purpose to domestic or commercial users. It has good voltage regulation and operates continuously with maximum efficiency at 50% of full load. The stepping up or stepping down function of power transformers depends upon the number of turns of primary and secondary winding. If the number of turns on both the windings are same, and the losses of transformer are negligible, it can be concluded that the voltage across each of the winding is same. In this case the transformer is just utilized in isolating two electrical circuits.

Industry Segmentation

The global power transformer market has been segmented on the basis of cooling type, power rating, and by region.

By cooling type, this market has been segmented into oil-cooled transformers and power-cooled transformers. Both of these kinds of transformers can transmit power over large distances.

Based on power rating, the market has been segmented into small power, medium power, and large power. Small power range has the capacity in the range of 100-500 mega volt-amps (MVA).

The medium range power transformers have a capacity between the ranges of 500-800 MVA. The large range power transformers have the potential of above 800 MVA.

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Regional Analysis

Power Transformer market by region is segmented into Asia Pacific, North America, Europe, the Middle East & Africa, and South America.

Asia-Pacific is expected to hold the largest share during the forecast period due to increased demand for energy and because of the growing population and rising per capita disposable income in the region.

Moreover, these rapidly growing economies in this region are also the top polluters in the world. This will led to increasing demand for energy, ultimately driving the need to install more power transformers in order to supply efficient power.

Leading Players

The key players of global Power Transformer market are Sumitomo Electric Industries Ltd, Radical Sun Systems, Inc., SolAero Technologies Corp, Arzon Solar, LLC., Cool Earth Solar, ARIMA Group, Suncore, Photovoltaic Technology Company Limited, Guangdong Redsolar Photovoltaic Technology Co., Saint, Augustin Canada Electric Inc., Sanan Optoelectronics Technology Co., Ltd, Macsun Solar Energy, Technology Co., Limited, and Morgan Solar Inc., among others.

Also Read: https://www.reuters.com/brandfeatures/venture-capital/article?id=134528

https://www.marketwatch.com/press-release/power-transformer-market-research-report-2019-industry-analysis-size-share-global-trend-key-players-review-competitive-and-regional-forecast-to-2023-2019-02-12

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