Transformers Market is estimated to be US$ 84.50 billion by 2030 with a CAGR of 7.3% during the forecast period
Transformers
Market accounted for
US$ 42.0 billion in 2020 and is estimated to be US$ 84.50 billion by 2030 and
is anticipated to register a CAGR of 7.3%. An electrical energy transfer device
known as a transformer is a passive component that connects one or more
electrical circuits to another. Transformers operate on the mutual induction
theory as their fundamental tenet. Mutual induction is the phenomenon by which
when the amount of magnetic flux linked with a coil changes, an E.M.F. is
induced in the neighbouring coil. Mineral oil & Synthetic oil are
used in Transformers. Transformers act as a bridge between the power
generator & the primary distribution grid. The two main types of
Transformers are Current Transformers (CTS) & Potential Transformers (PTS).
Transformers are used to change AC voltage
levels, such transformers being termed step-up or step-down type to increase or
decrease voltage level.
The growth in energy consumption in the industry
has been driven largely by an ongoing long-term trend of rising production in
energy-intensive subsectors like (oil & gas, chemicals, iron & steel,
cement, pulp & paper and aluminium) coming from the increased demand of
industrial products during the past two decades.
The report “ Global Transformers
Market, By Product (Power Transformer, Distribution Transformer, and Others),
By Application (Power Industry, Metallurgy Industry, Petrochemicals Industry,
and Others), and By Region (North America, Europe, Asia Pacific, Latin America,
and Middle East & Africa) - Trends, Analysis and Forecast till 2029 “
Key Highlights:
·
August 19,
2022 (Transformers Magazine), Memorandum of Understanding – NewMed Energy and
Enlight Energy. This includes the development of solar and wind projects, as
well as energy storage.
·
August 19,
2022 (Transformers Magazine), Sixteen new substations inaugurated for
uninterrupted power supply in Chennai.
·
August 18,
2022 (Transformers Magazine), R & S ZREW to deliver nine power transformers
to substations of Estonia. ZREW is a leading Polish manufacturer of
oil-immersed transformers with power ratings up to 120 MVA.
Get a free sample: Get a free sample:
https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/2405
Analyst View:
An continued long-term trend of expanding
production in energy-intensive subsectors has had a significant role in driving
the industry's increase in energy consumption. Transformers are the key role in
the power supply of the industrial sector that will answer the new environment
& trends set by industry 4.0. As part of the Industry 4.0, the
digitalization of transformers is becoming increasingly valuable. As the Transformers
have been equipped with various sensors & monitoring devices for decades,
the industry is seeing a clear evolution of technology, providing greater
visibility of Transformer performance than even before thus, giving boost to
increase in Global Transformers Market.
Key Market Insights from the report:
Global Transformers Market accounted for US$
42.0 billion in 2020 and is estimated to be US$ 84.50 billion by
2030 and is anticipated to register a CAGR of 7.3%. The Global
Transformers Market is segmented based on Product, Application and region.
·
Based on
Product, Global Transformers Market is segmented into Power Transformer, Distribution
Transformer & Others.
·
Based on
Application, Global Transformers Market is segmented into Power Industry, Metallurgy
Industry, Petrochemicals Industry & Others.
·
By Region,
the Global Transformers Market is segmented into North America, Europe, Asia
Pacific, Latin America, Middle East & Africa.
Competitive Landscape & their strategies
of Global Transformers Market:
The prominent players operating in the Global Transformers Market includes, ABB Ltd., Siemens Aktiengesellschaft, Toshiba
Corporation, Hitachi Ltd., Fuji Electric Co. Ltd., Mitsubishi Electric
Corporation, Hyosung Corporation, General Electric Company, CG Power and
Industrial, and SGB-SMIT Holding.
The market provides detailed information
regarding the industrial base, productivity, strengths, manufacturers, and
recent trends which will help companies enlarge the businesses and promote
financial growth. Furthermore, the report exhibits dynamic factors including
segments, sub-segments, regional marketplaces, competition, dominant key
players, and market forecasts. In addition, the market includes recent
collaborations, mergers, acquisitions, and partnerships along with regulatory
frameworks across different regions impacting the market trajectory. Recent
technological advances and innovations influencing the global market are
included in the report.
About Prophecy Market Insights
Prophecy Market Insights is specialized market
research, analytics, marketing/business strategy, and solutions that offers
strategic and tactical support to clients for making well-informed business
decisions and to identify and achieve high-value opportunities in the target
business area. We also help our clients to address business challenges and
provide the best possible solutions to overcome them and transform their
business.
Some Important Points Answered in this Market
Report Are Given Below:
·
Explains an
overview of the product portfolio, including product development, planning, and
positioning
·
Explains details
about key operational strategies with a focus on R&D strategies, corporate
structure, localization strategies, production capabilities, and financial
performance of various companies.
·
Detailed
analysis of the market revenue over the forecasted period.
·
Examining
various outlooks of the market with the help of Porter’s five forces analysis,
PEST & SWOT Analysis.
·
Study on the
segments that are anticipated to dominate the market.
·
Study on the
regional analysis that is expected to register the highest growth over the
forecast period
To know more
Contact Us:
Sales
Prophecy Market Insights
Email- sales@prophecymarketinsights.com
Website- www.prophecymarketinsights.com
Comments
Post a Comment