Market
Research Future has conducted extensive studies on the industrial control
transformers market. Reports by Market Research Future (MRFR) states that the
industrial control transformer market is likely to develop at 5.12% CAGR,
globally, over the forecast period. As per the reports revealed by World
Energy Outlook 2018, administrative bodies across the areas are concentrating
on handling the surging requirement for electricity.
Industrial control transformer, also known as isolation transformer
provides significant voltage regulation. It is designed in order to produce
high level of secondary voltage stability during brief periods of overload
condition. These transformers are mainly designed for industrial applications
where electromagnetic devices such as relays and solenoids are used. Hence,
industrial control transformer is used to maximize inrush capability and outage
voltage regulation when electromagnetic devices are initially energized.
According to the planned and current
policies launched by different governments, by 2040, the demand for energy is
anticipated to expand by more than 25%. This would propel the demand for
industrial control transformer applied in the power sector. Furthermore, in
2016, The U.S. Department of Energy (DOE) issued a new ruling for efficacy
level for transformers. Following these novel regulations, the producers
redesigned their products to maintain the efficacy levels. Thus, boosting the
market for new industrial control transformers and replenishment of existing
transformers applied in different industries.
Market
Segmentation
Industrial control transformer market across the world has been segmented
based on phase, power rating, and end-user. Based on phase, the market has been
segmented into three phase and single phase. The three phase governs the market
on account of the requirement for improved efficacy in industrial applications.
The three-phase industrial transformers are used to run several general
machineries such as pumps, compressors, crushers, and other mechanical devices
in mining, power plants, chemical, and other industries.
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Regional Outlook
Region
wise, Asia Pacific held the largest market share of the global industrial
control transformer market in 2017. It is also estimated that Asia-Pacific
region would also be the fastest growing market during the forecast period.
emerging markets in Asia-pacific offers many opportunities for wind power
capacity additions being made in these countries. For instance, Asia’s offshore
wind power capacity is expected to rise 20 times reaching 43 GW till 2027. All
these factors would eventually drive the market for industrial control
transformer market.
Key Players
The global industrial control transformer market has been dominated by
key players such as Broadman Transformers (UK), MCI Transformers
(US), Rockwell Automation (US), General Electric (US), Hubbell
(US), ABB (Switzerland), Eaton (Ireland), Siemens AG (Germany),
Emerson Electric Co. (US), Schneider Electric (France), Electric Hammond
Power Solutions (Canada), SNC Manufacturing Co., Ltd (US), Dongan Electric
Manufacturing Co. (US), and Foster Transformer Company (US).
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