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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