Global
Industrial Control Transformer Market Overview
The
global industrial control transformer market is anticipated to witness
proliferated growth over the forecast period, as concluded by the researchers
at Market Research Future (MRFR). Industrial
control transformers are known to provide step-down voltages to machine tool
control devices. A need for the reduction of equipment failure that is caused
due to frequent voltage spikes is expected to drive the global industrial
control transformer market over the forecast period. Further, rising adoption
and implementation of industrial control transformers across various industries
is also expected to drive the Industrial
control transformer Market Share exponentially. Moreover, increasing
energy generation targets, and the adoption of disruptive technologies,
upscaling use of clean coal, and a hike in the share of renewable energy
sources in the power generation mix is also expected to present lucrative
growth opportunities in the global industrial control transformer market. The
experts at Market Research Future (MRFR) have stated that the global industrial
control transformer market is estimated to expand at 5.12% CAGR over the
forecast period.
Market
Segmentation
The
global industrial control transformer market is studied for a detailed
segmentation that was done on the basis of power rating, end-user, phase, and
region. Based on phase, the global industrial control transformer market is
segmented into single phase and three phase.
Based
on power rating, the global industrial control transformers market is segmented
into 25-500VA, 500 to 1000 VA, 1000 to 1500 VA, and above 1500 VA.
Based
on end-users, the global industrial control transformers market is studied for
the segments of chemical, oil & gas, power generation, and metal and
mining. The global industrial control transformers market is expected to be led
by the power generation segment during the forecast period.
Regional
Analysis
The
global industrial control transformer market is studied for the regions of the
Americas, Asia Pacific, Europe, and the Middle East & Africa. Asia Pacific
is estimated to upscale at the fastest CAGR in the global market over the
forecast period. This growth can be accredited to the existence of many
developing countries in the region. Further, these emerging economies are
expected to present many lucrative growth opportunities for market vendors,
owing to the wind power capacity additions that are resumed in these countries.
Key
Players
Researchers
have included a profiling in the MRFR analysis that include MCI Transformers
(US), Broadman Transformers (UK), Rockwell Automation (US), Hubbell (US),
General Electric (US), Eaton (Ireland), ABB (Switzerland), Siemens AG (Germany),
Schneider Electric (France), Emerson Electric Co. (US), Electric Hammond Power
Solutions (Canada), Dongan Electric Manufacturing Co. (US), SNC Manufacturing
Co., Ltd (US), Foster Transformer Company (US).
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