Global Power Transformer Market is expected to experience significant growth during the forecast period:
Taste the market data and market information presented through more than 85 market data tables and figures spread in 140 numbers of pages of the project report. Avail the in-depth table of content & market synopsis on “Global Power Transformer market from 2018 to 2023"
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A power transformer is a device normally used in engineering that alters both the voltage and the current of the electricity passing through it. A power transformer is made up of a coil enclosed around an electromagnet that transfers the electricity. The main application of power transformer is the transmission and distribution of electrical power. These transformers are widely used by power plants, industrial plants and conventional electric utility companies, power transformers are used in the high voltage transmission network to step up and step down the voltage level.
Power transformers are classified based on their cooling types as oil-cooled and air-cooled transformers. The oil-cooled type requires periodic sampling of the oil and more exhaustive maintenance procedure, whereas the air-cooled type uses air as a cooling medium. Oil-cooled transformers are more prone to fire and safety hazard, these factors restrict them to outdoor applications only. Also oil-cooled transformer are cheaper than air-cooled power transformer.
The market for power transformers has been analyzed based on cooling types, insulation type, rating type and regions. On the basis of rating type, the large power segment is expected to dominate the market as large transformers interconnect electrical network or systems to various voltage rating, so as to transmit power. Also large power transformers are used for power transmission and generation, electro-intensive industrial and consumer application. Large power transformers are widely used in mining, paper & cement mills, chemical industry, substations & power plants such as, hydro power plant, thermal power plant and nuclear power plant.
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Oil-cooled power transformer market is expected to grow at the highest rate.
The oil-cooled power transformers are expected to hold a larger market size as compared to air-cooled power transformers. This is due to the fact that oil-cooled transformers perform safer operations while dealing with high voltage application. Also, the growing high voltage transmission network extension activities and low manufacturing cost of oil-cooled power transformer.
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The key players of global power transformer market are ABB Group (Switzerland), Siemens Ltd. (Germany), General Electric Company (USA), Crompton Greaves Ltd. (India), Toshiba Corporation (Japan), Hyundai Heavy Industries Co., Ltd. (South Korea), Mitsubishi Electric Corporation (Japan), Hyosung Corporation (South Korea), Bharat Heavy Electricals Limited (India) and SPX Transformer Solutions, Inc. (U.S.A).
This research report has the insights, various levels of analysis and industry analysis, market share analysis. This report thus aids in studying the target segments by providing views on emerging & high-growth segments and market conclusion. The global assessment of the strategies and strategies of the global power transformer market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report provides the views over the historical market values.
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