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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