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. A detailed analysis report
of COVID-19
impact on Industrial control transformer Market Share is provided with the
report.
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.
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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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