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Power transformers global market trajectory to 2026 rising utility Investments in Power infrastructure for transitioning to the smart grid standard drive healthy market growth

The “Power Transformers – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

Transformers play a pivotal role in the generation, transmission, and distribution (T&D) of electricity. Growth in the global market is steered by rising demand for electricity and the resulting new power projects coupled with the expansion of the T&D network. The urgent need to replace and upgrade aging power infrastructure in the developed countries, growing prominence of renewable energy, expansion, and interconnection of grid infrastructures, and an exponential increase in power consumption in both developed and developing countries require efficient management of electricity transmission and distribution represent important factors driving growth

In addition, efficient transformer designs that use amorphous magnetic materials as cores are likely to experience an increasing adoption in the coming years owing to their ability to reduce noise and iron losses while exhibiting extended service life. Amid a positive GDP scenario and rising construction/infrastructure investments as well as utility spending, the future prospects remain highly favorable for power transformers. Future growth in the market will be driven by the growing prominence of smart cities that require highly capable power transmission networks and the resulting demand for advanced and innovative power transmission systems and solutions.

The global market for Power Transformers, estimated at US$23.9 Billion in the year 2020, is projected to reach a revised size of US$32.6 Billion by 2026, growing at a CAGR of 5.1% over the analysis period. Oil Immersed, one of the segments analyzed in the report, is projected to grow at a 5.4% CAGR to reach US$20.5 Billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Dry Type segment is readjusted to a revised 4.6% CAGR for the next 7-year period. This segment currently accounts for a 40.6% share of the global Power Transformers market. Demand in the oil-immersed distribution transformers segment is driven by advantages such as energy efficiency and longer operating life. Dry-type transformers represent a fast-growing segment because of the increasing focus on environmental safety. Demand is set to be driven by increasing replacement of old transformers and installation of new units. Single-phase dry-type transformers are expected to witness high growth on account of rising applications in marine, mining, and oil and gas sectors, which have stringent requirements for fire safety and specific voltage.

Select Competitors Featured:

ABB Limited Bharat Heavy Electricals Limited Bowers Electricals Ltd. CG Power and Industrial Solutions Limited DAIHEN Corporation EFACEC Group GE Grid Solutions Hammond Power Solutions, Inc. Howard Industries, Inc. Hyosung Heavy Industries Hyundai Electric & Energy Systems Imefy Group JSHP Transformer Kirloskar Electric Company Limited KONCAR Group Mitsubishi Electric Corporation Olsun Electrics Corporation Schneider Electric SGB-SMIT Shihlin Electric & Engineering Corporation Siemens SPX Transformer Solutions TBEA Co., Ltd. Toshiba Energy Systems & Solutions Corporation Wilson Power Solutions Wilson Transformer Winder Power Ltd.

Rising Utility Investments in Power Infrastructure for Transitioning to the Smart Grid Standard Drive Healthy Market Growth Global Market for Smart Grids (in US$ Billion) for the Years 2018 and 2020 Global Investments in Smart Grids by Category (2019): Percentage Breakdown of Dollar Investments for Advanced Metering Infrastructure (AMI) Distribution Automation, Networks Operations Software, Transmission Modernization, and Others Power Infrastructure to Experience Considerable Transformation Driven by Modern Technology and Renewables Wind Power Makes Robust Progress within the Renewables Sector Global Wind Power Installed Capacity (In GW) for the Years 2015 -2022 Global Installed Wind Power Capacity (2018): Percentage Breakdown of Cumulative Installed Capacity by Geographic Region Solar Power Emerges as Reliable Renewable Energy Source Microgrids Ease Network Burden Utilities Bet on Big Data Renewable Energy:

A Statistical Perspective Targets for Electricity Production from Renewable Energy Sources in Select Countries Myriad Benefits and Superior Attributes over Traditional Transformers Drive Strong Demand for Smart Transformers Smart Transformers for Smarter Power Transmission and Distribution Growing Prominence of Smart Cities and Smart Homes of the Future Necessitates Highly Capable Power T&D Networks Growing Number of Smart Homes Catalyzes the Creation of Smart Cities: Global Smart Homes Market (In US$ Billion) for the Years 2019, 2021, 2023 & 2025 Technology Improvements and Product Innovations Spearhead Market Expansion Self-Cooling Transformers from ABB Siemens’ Ester Fluid-based Phase Shifting Power Transformer Hybrid Power Transformers Technology Energy Efficient and Eco-Friendly Power Transformers Design Innovation in Large Power Transformers (LPTs) Superconductor Based Power Transformers HTS Transformers: Energy Efficient, Lightweight, and Small Sized Gas-Insulated Power Transformers Future for Gas-Insulated Transformers Appears Bright IEC Standards for Gas-Insulated Transformers Stabilizing Regulatory Environment Augurs Well Proposed/Approved Standards for Transformers in Select Countries Demographic and Socio-Economic Trends Strengthen Market Prospects Ballooning Global Population Exponential Increase in Urban Dwellers Percentage of Urban Population in Select Countries for 2018, 2020, 2030, 2040 and 2050 Massive Increase in Building and Infrastructure Investments Global Construction Output by Region (2022): Breakdown of Construction Output (US$ Billion) and Percentage Change over 2018-2022 Global Infrastructure Spending Estimates (Percentage of GDP) by Region Stable Economic Scenario Augurs Well for Power Transformers Market Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2018 through 202

This article was shared with Prittle Prattle News as a Press Release.
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