Transformer Market
Scenario
Transformers cover a very diverse subject area that encompasses both,
small and very large components. Transformers can be segmented on the basis of
type as distribution transformer, power transformer and others, which includes
instrument transformer. Transformer systems have been governing the renewable
and non-renewable energy markets in recent years owing to its ability to
transmit & distribute the energy in the form of electricity through
reducing the current ampere and increasing the voltage and vice versa, to
supply power according to end-user needs. Adapting to the recent novel COVID-19
pandemic, the impact of the COVID-19
on Transformer Market is included in the present report.
Industry Segmentation
The transformer
market has been segmented based on cooling type, power rating, type,
insulation, and end-user.
On the basis of
cooling type, Oil-Cooled Transformer accounted for the largest market share of
57.2% in 2016, with a market value of USD 22,493.1 million. It is projected to
register the highest CAGR of 7.68% during the forecast period.
Based on power
rating, Small Power accounted for the largest market share of 45.5% in 2016,
with a market value of USD 17,881.3 million; projected to witness a CAGR of
7.57% during the forecast period.
Based on type,
Power transformer accounted for the largest market share of 49.7% in 2016, with
a market value of USD 19,540.5 million; projected to register a CAGR of 8.55%
during the forecast period.
Based on
insulation, Liquid-Immersed accounted for the largest market share of 58.6% in
2016, with a market value of USD 23,039.7 million; projected to register a CAGR
of 7.61% during the forecast period.
Based on
End-User, Utility accounted for the largest market share of 43.1% in 2016, with
a market value of USD 16,938.5 million; projected to witness a CAGR of 7.79%
during the forecast period.
Leading Players
The key players
of global transformer market are ABB Ltd., (Switzerland), Eaton Corporation plc
(Ireland), Schneider Electric (France), Siemens AG (Germany), and Crompton
Greaves Ltd. (India). Mitsubishi Electric Corporation (Japan), Toshiba
Corporation (Japan), Bharat Heavy Electricals Limited (India), Hyosung Power
& Industrial Solutions (South Korea) and SPX Transformer Solutions, Inc.
(U.S.) are among others.
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NOTE: Our team of researchers are studying
Covid19 and its impact on various industry verticals and wherever required we
will be considering covid19 footprints for a better analysis of markets and
industries. Cordially get in touch for more details.
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