Power Transformer Market 2018 Global Industry Share, Size, Regional Trends, Prominent Players, Growth Potential, Opportunities, Competitive Landscape and Forecast To 2023

Power transformers are electrical devices which act as a conduit for the transfer of electrical energy between devices. They are an ideal source of backup of energy in power and utility sectors. Power Transformer Market Categorizes by Cooling Type, Power Rating and End-User.

Pune, India - July 18, 2019 /MarketersMedia/ —

Power Transformer Market Prospects

The global power transformer market report by Market Research Future (MRFR) highlights numerous trends and opportunities with a key focus on four major regions for the period of 2018 to 2023. Investments for electric infrastructure development coupled with increased budget of governments in various nations is likely to boost the market demand. Rapid urbanization combined with the uptick in energy demand can create massive opportunities for the market.

The global power transformer market is poised for a significant valuation by experiencing 8.64% CAGR from 2018 to 2023 (forecast period). Power transformers are electrical devices which act as a conduit for the transfer of electrical energy between devices.

Get Free Sample Copy of “Power Transformer Market Research Report- Global Forecast to 2023” at: https://www.marketresearchfuture.com/sample_request/3251

Favorable policies outlining the construction of micro grid networks with a large capacity can expand the market demand. Moreover, policies encouraging renewable energy by developing nations for conserving energy and meeting self-designed targets is likely to boost market growth. The market size can touch USD 34,510.2 million by 2023.

But exorbitant costs of these devices can lead to hesitation towards adoption and restrict market growth.

Power Transformer Industry Segmentation

The global power transformer market is segmented by cooling type and power ratings.

By cooling type, it is segmented into power-cooled and oil-cooled. The oil-cooled transformer segment is assumed to be dominant till the end of the forecast period due to its efficient cooling properties.

By power ratings, the power transformer market segmented into large power, medium power, and small power. Small power transformers function in the range of 100-500 MVA and an ideal fit for substations. The need for such devices for commercial and residential sectors is likely to bolster the segment growth till 2023. On the other hand, large transformers can exhibit a robust CAGR during the forecast period due to impending need for water conservation and low emission levels. Development of transformers with minimal noise emission for environmentally sensitive areas is likely to be a plus for the global market.

Regional Analysis

Geographic segmentation of the power transformation market covers North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW).

The APAC region accounted for 47.26% share of the market in 2017. This can be attributed to the impending need for upgrades for existing distribution & transmission infrastructure for supporting the needs of electricity. China and India have rolled out policies for upgrading the current infrastructure. Plans of urbanization and the shift of citizens from rural regions to urban areas can evoke the need for electricity and push the need for power transformers.

Europe has assumed the second position in the market due to various sustainable development schemes and refurbishment of policies to upgrade existing power grids.

Competitive Landscape

Key market players include Crompton Greaves Ltd., Hyosung Power & Industrial Solutions, Toshiba Corporation, Schneider Electric, Mitsubishi Electric Corporation, SGB-SMIT Group, Siemens AG, Hyundai Electric & Energy Systems Co., Ltd., Bharat Heavy Electricals Limited, SPX Transformer Solutions, Inc., ABB Ltd., and others.

Presence of legacy infrastructure coupled with construction of new units and facilities for distribution and transmission of power can provide plenty opportunities for the market.

Industry News

In 2019, the Nepal Electricity Authority (NEA), the electricity board of Nepal has adopted a smart system for the monitoring of transformers, sub-stations, and other utility devices. This move can digitize the entire electric infrastructure and provide ample backup in case of power outages.

Browse Full Power Transformer Market Research Report at: https://www.marketresearchfuture.com/reports/power-transformer-market-3251

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact Info:
Name: Market Research Future
Email: Send Email
Organization: Market Research Future
Address: Market Research Future, Office No. 528, Amanora Chambers Pune - 411028 Maharashtra, India
Phone: +1 646 845 9312
Website: https://www.marketresearchfuture.com/reports/power-transformer-market-3251

Source URL: https://marketersmedia.com/power-transformer-market-2018-global-industry-share-size-regional-trends-prominent-players-growth-potential-opportunities-competitive-landscape-and-forecast-to-2023/88898336

Source: MarketersMedia

Release ID: 88898336

Latest News

China announces tariff hike on $75 billion of US products

Aug 24, 2019

BEIJING — China on Friday announced tariff hikes on $75 billion of U.S. products in retaliation for President Donald Trump's latest planned increase, deepening a conflict over trade and technology that threatens to tip a weakening global economy into recession. China also will increase import duties on U.S.-made autos and auto parts, the Finance Ministry announced. The announcement comes as leaders of the Group of 7 major economies prepare to meet in France this weekend. Tariffs of 10% and 5% will take effect on two batches of goods on Sept. 1 and Dec. 15, the ministry said in a statement....

Global stocks higher ahead of US Fed chairman's speech

Aug 24, 2019

BEIJING — Global stock markets rose Friday after Wall Street declined ahead of a closely watched speech by the U.S. Federal Reserve chairman. Market benchmarks in London, Frankfurt, Shanghai and Tokyo all advanced. Investors are looking to Jerome Powell's speech Friday for signs of direction on interest rates after two regional Fed presidents said they see no need for a change. Investors expect a cut in September, the Fed's second in three months, to shore up U.S. economic growth amid a tariff war with Beijing and weakening global growth. "Markets seem very clearly positioned for some very dovish guidance from...

Japan leader says S. Korea ending intel deal damages trust

Aug 24, 2019

TOKYO — Japanese Prime Minister Shinzo Abe said South Korea's decision to cancel a deal to share military intelligence is damaging mutual trust, and he vowed Friday to work closely with the U.S. for regional peace. Abe also accused Seoul of not keeping past promises. The military agreement started in 2016. "We will continue to closely coordinate with the U.S. to ensure regional peace and prosperity, as well as Japan's security," he said, ahead of his departure for the Group of Seven summit of industrialized nations in France. South Korea announced Thursday it would terminate the intelligence deal because Tokyo's...

Women, late-in-life new authors expand Japanese literature

Aug 24, 2019

TOKYO — The works receiving one of Japan's most coveted literary awards, the Naoki Prize, have something new in common: For the first time in 85 years, all six of the nominated authors are women. Japan is home to what many consider the world's first novel, "The Tale of Genji," written in the 11th century by noblewoman Murasaki Shikibu. Its modern fiction has been defined mostly by long-established male writers such as past Nobel laureates Kenzaburo Oe and Yasunari Kawabata. And for decades it has been dominated by Haruki Murakami, whose surreal blend of magical realism and pop culture has...

S. Korea cancels Japan intelligence deal amid trade dispute

Aug 24, 2019

SEOUL, South Korea — South Korea said Thursday it will terminate an intelligence-sharing deal with Japan that focused on classified information about North Korea, a surprise announcement that is likely to set back U.S. efforts to bolster security cooperation with two of its most important allies in the Asian region. South Korea attributed the decision to its bitter trade dispute with Japan, which has plunged the two countries' relations to their lowest point since they established diplomatic ties in 1965. Japanese Foreign Minister Taro Kono called the decision "extremely regrettable" and summoned the South Korean ambassador to protest the linking...

Subscribe To Our Newsletter