Global Transformers Market By Product (Power Transformer, Distribution Transformer, And Others), By Application (Power Industry, Metallurgy Industry, Petrochemicals Industry, And Others), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2030 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Transformers Market By Product (Power Transformer, Distribution Transformer, And Others), By Application (Power Industry, Metallurgy Industry, Petrochemicals Industry, And Others), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2030 (Includes Business Impact of COVID-19)

Trusted Business Insights has published a comprehensive market research report on, Global Transformers Market by Product (Power Transformer, Distribution Transformer, Instrument Transformer and others), By Application(Power Industry, Metallurgy Industry, Petrochemicals Industry, Urban Construction, and others), and by Region -Global Forecast to 2030, which offers a holistic view of the global Transformers market through systematic segmentation that covers every aspect of the target market.

The global Transformers market is projected to be US$ 34,920.4 Mn in 2020 to reach US$ 69,770.6 Mn by 2030 at a CAGR of 7.2%.

Transforms are the electric devices that can transfers the electrical energy from one AC circuit to one or more circuits. Transformers are static electric devices that can be used for either stepping-up or stepping-down the voltage. Voltage change in the transformers can be done by electromagnetic induction. Global transformers market is expected to see high growth in the forecast period due to the increase in the development of rural areas, industrialization, and opening new generation plants. Increasing government capital expenditure in the power sector, high transmission investments and increasing global energy consumption are some of the other factors that have helped the market to grow with a rapid pace. Due to the increased power generation in emerging nations as well as developed economies, the market is anticipated to see high growth in the forecast period.

Key drivers for future transformer market development include an increase in electricity demand in developing countries, a boost for high-voltage power transformers, replacement of old electric power equipment in matured economies, and capital expenditure in the power sector worldwide. Also, the adoption of energy-efficiency standards in developed markets, such as Europe and the United States, as well as in emerging markets, such as China and India, are expected to create a demand for new, more efficient electrical equipment, including power transformers.


Global Transformers Market Revenue (US$ Mn), 2021 to 2030


Increase in the electricity demand in the emerging nations, along with growth in the power industry is expected to drive growth in the transformer industry. Also, growing industrialization and commercial development drive growth in the transformer market.

however, higher competition from Chinese manufacturers and saturated market of transformers in European countries is expected to hamper the growth of the global transformers market
Global transformers market is segmented on the basis on product, application and region. On the basis of product, the market is segmented into power transformer, distribution transformer, instrument transformer and others. The power transformer segment accounts for the majority share in the global transformers market, while the distribution is expected to register the highest growth rate over the forecast period. On the basis of application, the market is segmented into the power industry, metallurgy industry, petrochemicals industry, urban construction, and others. The power industry accounts for a majority share in the global Transformers market.


Global Transformers Market By Application, 2018


On the basis of region, the market is segmented into the United States, Europe, China, India, Japan and Southeast Asia. China accounts for the majority share in the global Transformers market, followed by the United States. Emerging economies, such as China and India, are expected to register the highest growth rate over the forecast period. Countries and regions such as Japan, South America and the rest of the world are expected to register stable growth over the forecast period.

The research report on the global Transformers market includes profiles of some of major companies such as ABB Ltd., Siemens Aktiengesellschaft, Toshiba Corporation, Hitachi, Ltd., Fuji Electric Co., Ltd, Mitsubishi Electric Corporation, Hyosung Corporation, General Electric Company, CG Power and Industrial, SGB-SMIT Holding, Efacec Power Solutions, S.G.P.S., SA, JiangSu HuaPeng Transformer and other key players.



Below are the active patents related to Transformers Market.


Patent Number: US20070052514A1

Power and information signal transfer using micro-transformers

Abstract

A power converter provides power across an isolation barrier, such as through the use of coils. A coil driver has transistors connected in a positive feedback configuration and is coupled to a supply voltage in a controlled manner by measuring the output power and opening or closing a switch as needed between the power supply and the coil driver. An output circuit, such as a FET driver, can be used with or without isolation to provide power and a logic signal.

Application File Date: 2005-08-19

Application Granted Date:  2009-06-16

Inventor: Baoxing ChenRonn Kliger

Patent Number: US20050212506A1

Testing of current transformers

Abstract

A method for evaluating the accuracy of a current transformer is presented. The current transformer has a primary winding and a secondary winding. A current is not circulated through the primary winding. A load is disconnected from the current transformer. A load impedance is measured of an internal instrumentation associated with the current transformer. The resistance in the secondary winding of the current transformer is determined. The load impedance is compared to a standard burden. A standard burden value is selected. The secondary voltage for a rated current is determined. The injection voltage is adjusted to the value of the secondary voltage. The exciting current and power are measured. The ratio error or the phase angle are then calculated by using the exciting current and power.

Application File Date: 2004-06-25

Application Granted Date: 2006-04-18

Current Assignee: Kuhlman Electric Corp

Key Market Segments:

By Core

  
Closed
  
Shell
  
Berry

By Product

  
Distribution Transformer
  
Power Transformer
  
Instrument Transformer

  
Current
  
Potential

  
Others

By Winding

  
Two Winding
  
Auto Transformer

By Installation

  
Outdoor
  
Indoor

By Cooling

  
Dry Type

  
Self-air
  
Air blast


  
Oil Immersed

  
Self-cooled
  
Water cooled
  
Forced Oil
  
Others


By Insulation

  
Gas
  
Oil
  
Solid
  
Air
  
Others

By Phase

  
Three Phase
  
Single Phase

By Rating

  
Less than or equal to 10 MVA
  
11 to 60 MVA
  
61 MVA to 600 MVA
  
> 600 MVA

By Mounting

  
Pad
  
Pole
  
PC/PCB
  
Others

By Application

  
Residential & Commercial

  
Hotels
  
Hospitals
  
Apartments
  
Others


  
Utility
  
Industrial

  
Railways
  
Cement
  
Power
  
Oil & Gas
  
Others




Key Market Players included in the report:


  
ABB Ltd.
  
Amran
  
Arteche
  
Bharat Heavy Electricals Ltd.
  
Celme
  
CG Power and Industrial Solutions Ltd.
  
Daihen Corporation
  
Eaton Corporation.
  
Efacec Power Solutions
  
Elsewedy Electric
  
EMCO Ltd.
  
Fuji Electric Co. Ltd.
  
General Electric Company
  
Hitachi Ltd.
  
Hyosung Power & Industrial Systems
  
IMEFY Group
  
JiangSu HuaPeng Transformer
  
Kirloskar Electric Co. Ltd.
  
Mehru
  
Mitsubishi Electric Corporation
  
Ormazabal
  
PRFFNER Group
  
Raychem RPG
  
S.G.P.S.
  
Schneider Electric SE
  
SGB-SMIT Holding
  
Siemens AG
  
SPX Transformer Solutions
  
TBEA Co. Ltd.
  
Toshiba Corporation
  
TRENCH Group
  
Voltamp Transformers


Below are the key development related to Transformers Market in 2020 and 2021.
June 2021: Hitachi ABB Power Grids and BW Ideol to collaborate on offshore substations. Hitachi ABB Power Grids has announced it has signed a memorandum of understanding with BW Ideol to provide market-ready floating substation solutions. The collaboration between the two companies, a first of its kind for floating substations globally, will accelerate the process. Hitachi ABB Power Grids will provide modular, scalable, compact substation packages for installation on BW Ideol’s shallow-draft floating platforms. Both companies have worked closely together for several years now to co-create a standardized yet modular solution that addresses market requirements and the unique demands of operating in the most challenging environmental and seabed conditions. The substations will comprise transformers, switchgear and other high-voltage products specially developed by Hitachi ABB Power Grids for floating offshore platforms. Source

December 2020: Efacec launches new modular system concept for power transformers. Efacec has launched a new modular system concept for their Core Power Transformers, which will allow for greater optimization and efficiency. The modularity concept will be applied to different Efacec products and takes the first step in the segment of transformers. The modular system will be applied in the Transformers portfolio in equipment from 10MVA to 170MVA and up to 400kV and includes a range of innovative solutions in the architecture and assembly of external components, adding new functions, such as mechanical protection, noise, ultraviolet and ballistics. The delivery of the first transformers developed based on this modular concept begins in 2021, and the first modular transformer is expected to start operating in March 2021. Among the recipients of this product are utilities, industry and renewables. The new concept will be applied to Efacec’s Core Power Transformers. It is estimated that in 2022 about 55% of the Core Transformers produced by Efacec will have incorporated this innovation and in 2023 all transformers of this type will be produced following this concept. Source

July 2020: Hitachi completes acquisition of ABB’s Power Grids Business. Hitachi has announced that it has completed the procedures for its 80.1% investment in the company operating power grids business that had been carved out from ABB Ltd, pursuant to the acquisition agreement signed on December 17, 2018. The new company ,Hitachi ABB Power Grids Ltd (“Hitachi ABB Power Grids”) was launched and began operation on Wednesday. According to Hitachi, under the leadership of Claudio Facchinas, CEO, and Toshikazu Nishino, Executive Vice President of Hitachi, as Chairman, Hitachi ABB Power Grids will expand Hitachi’s energy solutions business globally as a core part of the company’s Social Innovation Business. By combining world-class power grids business with Hitachi’s advanced digital technologies such as Lumada, Hitachi and Hitachi ABB Power Grids will provide innovative energy solutions spanning the Energy (utilities), Mobility, Smart Life (cities), Industry,and ITsectors. With roots in Hitachi and ABB, the new business will build on more than one century of expertise in pioneering engineering technologies, enabling customers to increase efficiency and maintaining resilience. It will unlock new business models and contributesocial, environmental and economic valuesfor a sustainable society. Source