Global Transformers Market Report 2022 by Type, Transformer Type, Phase, Application – Analysis & Forecasts 2016-2021, 2023F, 2026F, 2031F – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Transformers Market Report 2022, by Type, by Transformer Type, by Phase, by Application” report has been added to ResearchAndMarkets.com’s offering.
The global transformers market is expected to grow from $64.52 billion in 2021 to $70.78 billion in 2022 at a compound annual growth rate (CAGR) of 9.7%. The market is expected to reach $94.75 billion in 2026 at a CAGR of 7.6%.
Major players in the transformers market are ABB, General Electric Corporation, Schneider Electric S.A., Mitsubishi Electric Corporation, Schneider Electric, Mitsubishi Electricis, Toshiba Corporation, Siemens, SGB-SMIT, and Hammond Power Solutions.
The transformers market consists of sales of transformers and related services which are used in the manufacturing of power, distribution, and specialty transformers. A transformer transfers energy from one circuit to another. Transformers increase or decrease voltage and current level, increase or decrease capacitor value, prevent direct current from passing between two circuits, and isolate circuits.
The main types of transformers market are low rated transformer, high rated transformer. The low-rated transformer is transmitted to the receiving end. This low voltage power if transmitted results in greater line current which is causing more line losses. The transformer types are power transformer, distribution transformer. The phases are single-phase, three-phase. The applications are residential and commercial, utility and industrial.
Favorable government policies to increase electrification will contribute to the growth of the transformers market in the forecast period. Countries around the world are implementing several initiatives to increase electrification across the countries. For example, in 2019, the Indian government launched the ‘One Nation One Grid’, an initiative aimed at offering affordable power to all the states.
These initiatives increased the market for medium power transformers in the historic period. The increasing demand for medium, low, and high-power transformers supported by favorable government initiatives will positively impact the growth of the transformers market.
Instability in the pricing of raw materials is a major restraint in the transformers manufacturing market. The instability is due to the volatility in the raw material prices of steel, copper, and crude oil. Steel and copper are predominantly used in the manufacture of transformers. Increased tariffs on raw materials such as steel and copper, increased the volatility of prices, thereby limiting the growth of the market for medium power transformers.
For instance, in October 2021, the United States and the European Union had reached an agreement on the lifting of US tariffs of 25 percent on imports of steel from the EU and 10 percent on imports of aluminum from the EU. The increase in prices leads to an increase in operating expense thereby hampering the growth of the market.
The transformers market is moving towards the evolution of independent and self-regulating smart transformers. Smart transformers are programmed to constantly regulate voltage and maintain contact with the stakeholders and provide information and feedback on the power supply.
They provide the exact amount of power that is needed and respond to fluctuations through a process known as voltage optimization. They significantly reduce greenhouse gas emissions and power consumption as they supply electrical equipment with the ideal amount of power. For instance, in 2021, the U.S. Department of Energy (DOE) invested a total of $20 million in funding for innovative research and development in artificial intelligence (A.I.) and machine learning.
DOE’s Office of Electricity has selected eight projects to receive nearly $7 million in total to explore the use of big data, artificial intelligence, and machine learning technologies for improving existing knowledge and discover new insights and tools for better grid operation and management. Companies should consider investing in technologies to produce smart transformers for commercial establishments.
Key Topics Covered:
1. Executive Summary
2. Transformers Market Characteristics
3. Transformers Market Size And Growth
3.1. Global Transformers Historic Market, 2016 – 2021, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Transformers Forecast Market, 2021 – 2023F, 2026F, 2031F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Transformers Market Segmentation
4.1. Global Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
- Low Rated Transformer
- High Rated Transformer
4.2. Global Transformers Market, Segmentation By Transformer Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
- Power Transformer
- Distribution Transformer
4.3. Global Transformers Market, Segmentation By Phase, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
- Single Phase
- Three Phase
4.4. Global Transformers Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
- Residential And Commercial
- Utility
- Industrial
5. Transformers Market Regional And Country Analysis
5.1. Global Transformers Market, Split By Region, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
5.2. Global Transformers Market, Split By Country, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
6. Asia-Pacific Transformers Market
6.1. Asia-Pacific Transformers Market Overview
6.2. Asia-Pacific Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
7. China Transformers Market
7.1. China Transformers Market Overview
7.2. China Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F,$ Billion
8. India Transformers Market
8.1. India Transformers Market Overview
8.2. India Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
9. Japan Transformers Market
9.1. Japan Transformers Market Overview
9.2. Japan Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
10. Australia Transformers Market
10.1. Australia Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
11. Indonesia Transformers Market
11.1. Indonesia Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
12. South Korea Transformers Market
12.1. South Korea Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
13. Western Europe Transformers Market
13.1. Western Europe Transformers Market Overview
13.2. Western Europe Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
14. UK Transformers Market
14.1. UK Transformers Market Overview
14.2. UK Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
15. Germany Transformers Market
15.1. Germany Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
16. France Transformers Market
16.1 France Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
17. Eastern Europe Transformers Market
17.1. Eastern Europe Transformers Market Overview
17.2. Eastern Europe Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
18. Russia Transformers Market
18.1. Russia Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
19. North America Transformers Market
19.1. North America Transformers Market Overview
19.2. North America Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
20. USA Transformers Market
20.1. USA Transformers Market Overview
20.2. USA Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
21. South America Transformers Market
21.1. South America Transformers Market Overview
21.2. South America Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
22. Brazil Transformers Market
22.1. Brazil Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
23. Middle East Transformers Market
23.1. Middle East Transformers Market Overview
23.2. Middle East Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
24. Africa Transformers Market
24.1. Africa Transformers Market Overview
24.2. Africa Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
25. Transformers Market Competitive Landscape And Company Profiles
25.1. Transformers Market Competitive Landscape
25.2. Transformers Market Company Profiles
25.2.1. ABB
25.2.1.1. Overview
25.2.1.2. Products and Services
25.2.1.3. Strategy
25.2.1.4. Financial Performance
25.2.2. General Electric Corporation
25.2.2.1. Overview
25.2.2.2. Products and Services
25.2.2.3. Strategy
25.2.2.4. Financial Performance
25.2.3. Schneider Electric S.A.
25.2.3.1. Overview
25.2.3.2. Products and Services
25.2.3.3. Strategy
25.2.3.4. Financial Performance
25.2.4. Mitsubishi Electric Corporation
25.2.4.1. Overview
25.2.4.2. Products and Services
25.2.4.3. Strategy
25.2.4.4. Financial Performance
25.2.5. Schneider Electric
25.2.5.1. Overview
25.2.5.2. Products and Services
25.2.5.3. Strategy
25.2.5.4. Financial Performance
26. Key Mergers And Acquisitions In The Transformers Market
27. Transformers Market Trends And Strategies
28. Transformers Market Future Outlook and Potential Analysis
29. Appendix
29.1. Abbreviations
29.2. Currencies
29.3. Research Inquiries
29.4. About the Publisher
29.5. Copyright And Disclaimer
Companies Mentioned
- ABB
- General Electric Corporation
- Schneider Electric S.A.
- Mitsubishi Electric Corporation
- Schneider Electric
- Mitsubishi Electricis
- Toshiba Corporation
- Siemens
- SGB-SMIT
- Hammond Power Solutions
- Hitachi
- Alstom
- Eaton
- SPX Transformer Solutions
- Kirloskar Electric Company
- RITZ Instrument Transformers GmbH
- Hammond Power Solutions Inc.
- TBEA
- Jefferson Electric
- SPX Transformer Solutions
- Mace
- Performance Group
- Fortune Electric Co., Ltd.
- Schaffner Holding AG
For more information about this report visit https://www.researchandmarkets.com/r/d3nt4s
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