Power transformer is a device normally
used in engineering that alters both the voltage and the current of the
electricity passing through it. A power transformer is made up of a coil
enclosed around an electromagnet that transfers the electricity. Unlike distribution
transformers that operate at an optimum efficiency of only 60-70%, power
transformers are designed to operate at 100% efficiency. Moreover, power
transformers are intended to sustain high voltages, while distribution transformers are intended
to handle lower ones. Power transformers transmit power to distribution
transformers, so that distribution transformers can deliver small amounts of
power to each and every user.
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As power transformers help step up or down
the voltage level in the high voltage transmission network, they are used in
numerous electronic circuits. They are available in various types and
applications. The main application of power transformer is the transmission and
distribution of electrical power. These transformers are widely used by power
plants, industrial plants and conventional electric utility companies. . The
constant need for electricity and the unstable electricity supply situation in
most developing countries will aid in the growth of the power transformers
market over the forecast period. However, averseness of governments worldwide
in initiating capital inducement projects can hinder the power transformer
market. Also, the high cost of transformers and that of safety instruments
& backup structure obstructs optimal utilization of power transformers
globally.
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Industry
Highlights
Currently, the power transformer market is
in the growth stage. This is due to the increase in demand for power, and in
cross-border power transmission, global initiatives to use more renewable and
non-conventional energy sources, smart grids, & the global need to upgrade
transmission grids boost the global power transformer market. The Asia-Pacific
region is the leading market for power transformers market and is followed by
Europe. The rapid industrial development in the countries such as India and
China where there are issues with continuous reliable electricity supply, is
driving the market for power transformers. Also R&D and utilization of
ultra-high voltage transformer in China and India will drive power transformer
market.
Key
Players
The key players of global power
transformer market are ABB Group (Switzerland), Siemens Ltd. (Germany), General
Electric Company (USA), Crompton Greaves Ltd. (India), Toshiba Corporation
(Japan), Hyundai Heavy Industries Co., Ltd. (South Korea), Mitsubishi Electric
Corporation (Japan), Hyosung Corporation (South Korea), Bharat Heavy
Electricals Limited (India) and SPX Transformer Solutions, Inc. (U.S.A).
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