Transformers Market - Analysis by Power Rating, Cooling Type, Transformer Type, and Geography - Growth, Trends, and Forecast (2019 - 2024)

Transformers Market - Analysis by Power Rating, Cooling Type, Transformer Type, and Geography - Growth, Trends, and Forecast (2019 - 2024)

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Transformers Market Growth

The global transformers market is likely to grow at a significant rate, owing to augmentation in power infrastructure promulgated by surge in demand of electricity. The electricity demand is expected to increase on account of expanding commercial and industrial establishments, and increasing usage of electrical appliances. The development of new power infrastructure and overhaul of existing ones is likely to drive the demand for transformers in the near future. The power-starved countries in Nigeria are focusing on building power generation facilities in the coming years. In addition, the country has planned to build USD 5.8 billion hydropower plant in 2018. Such projects are expected to drive the demand for transformers in the near future. The developed regions across the globe are expected to witness an increasing need for the replacement of transformers, which are on the verge of completion of their service life. Among the developing regions, the widespread development of industrial infrastructure and high rate of urbanization, majorly in the Asia-Pacific and Middle East & Africa countries, is expected to provide huge opportunity to transformers market in the near future.

Increasing Number of T&D Infrastructure is driving the Transformers Market

The expansion of transmission and distribution (T & D) infrastructure and grid interconnection is one of the major drivers for transformers market. Globally, the focus has increased on imparting grid stability and reliability, which has led to investments in the transmission and distribution sector. As a result, the expansion in the T&D infrastructure is expected to drive the transformers market during the forecast period, as well. Globally, the T&D projects are being developed owing to rising consumption of electricity pertaining to on-grid connections. In addition, the on-grid connections are increasing as remote consumers are getting integrated with the power network. Moreover, the developing regions are witnessing widespread connection of power consumers, which are getting online with the grid network.

Asia-Pacific to Dominate the Transformers Market Growth

Asia-Pacific is the largest and fastest-growing market, primarily driven by the T&D developments and industrial growth in Southeast Asia, China, and India. The factors that attribute to the growth include the increasing upgradation of power and distribution infrastructure, replacement of aging equipment, and the increasing development in heavy industries, and renewable energy. In addition, the growing need to expand and upgrade the existing T&D infrastructure to serve the growing demand for electricity is expected to lead to a positive growth of the transformers market during the forecast period. Extensive power plant capacity additions, economic growth, and the need to improve access to electricity, particularly in the emerging nations of Asia-Pacific (APAC), are expected to further drive grid expansion and the transformers market.

                                             Electricity Generation 

Key Developments in the Transformers Market

  • April 2018: ABB Ltd. launched the world’s first digitally integrated power transformer at the 2018 Hanover Fair, in Germany, which has enhanced reliability and efficiency

Major players in Transformers Market 

  • Siemens AG
  • ABB Ltd.
  • General Electric Company
  • Crompton Greaves Limited
  • Mitsubishi Electric Corporation
  • Hyundai Heavy Industries Co. Ltd.
  • Toshiba Corporation 
  • Hyosung Group
  • Bharat Heavy Electricals Limited
  • SPX Transformer Solutions, Inc.
  • Schneider Electric

Reasons to Purchase Transformers Market Report

  • Current and future transformers market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in excel)

Customization of Transformers Market Report

  • This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs

1. Executive Summary of Transformers Market               

2. Research Methodology                           

                2.1 Scope of the Transformers Market Report

                2.2 Transformers Market Definition    

                2.3 Study Assumptions of Transformers Market 

                2.4 Study Deliverables of Transformers Market

                2.5 Research Phases      

3. Market Overview of Transformers Market                       

                3.1 Introduction               

                3.2 Market Size and Demand Forecast until 2023              

                3.3 Recent Trends and Developments   

4. Market Dynamics                       

                4.1 Transformers Market Drivers          

                4.2 Transformers Market Restraints    

                4.3 Transformers Market Opportunities            

5. Supply Chain Analysis of Transformers Market                            

6. Industry Attractiveness - Porter’s Five Forces Analysis                              

                6.1 Bargaining Power of Suppliers            

                6.2 Bargaining Power of Consumers       

                6.3 Threat of New Entrants         

                6.4 Threat of Substitutes             

                6.5 Intensity of Competitive Rivalry        

7. Market Segmentation and Analysis (Overview, Market Size, and Demand Forecast until 2023)                              

                7.1 Transformers Market By Power Rating       

                                7.1.1 Small Power

                                7.1.2 Medium Power

                                7.1.3 Large Power

                7.2 Transformers Market By Cooling Type        

                                7.2.1 Oil-Cooled Type

                                7.2.2 Air-Cooled Type

                7.3 Transformers Market By Transformer Type              

                                7.3.1 Power Transformer

                                7.3.2 Distribution Transformer

8. Transformers Market Regional Analysis (Overview, Market Size, and Demand Forecast until 2023)                  

                8.1 North America          

                                8.1.1 United States

                                8.1.2 Canada

                                8.1.3 Mexico

                                8.1.4 Rest of North America

                8.2 Europe         

                                8.2.1 United kingdom

                                8.2.2 Germany

                                8.2.3 France

                                8.2.4. Russia

                                8.2.5 Rest of Europe

                8.3 Asia-Pacific 

                                8.3.1 China

                                8.3.2 India

                                8.3.3 Japan

                                8.3.4 South Korea

                                8.3.5 Rest of Asia-Pacific

                8.4 South America          

                                8.4.1 Brazil

                                8.4.2 Argentina

                                8.4.3 Rest of South America

                8.5 Middle East & Africa

                                8.5.1 Saudi Arabia

                                8.5.2 UAE

                                8.5.3 Nigeria

                                8.5.4 South Africa

                                8.5.5 Rest of MEA

9. Transformers Market Key Company Analysis* (Overview, Products & Services, Financials**, Recent Development, and Analyst View)                               

                9.1 Siemens AG

                9.2 ABB Ltd.       

                9.3 General Electric Company    

                9.4 Crompton Greaves Limited 

                9.5 Mitsubishi Electric Corporation          

                9.6 Hyundai Heavy Industries Co. Ltd.    

                9.7 Toshiba Corporation               

                9.8 Hyosung Group        

                9.9 Bharat Heavy Electricals Limited        

                9.10 SPX Transformer Solutions, Inc.      

                9.11 Schneider Electric  

10. Competitive Landscape of Transformers Market                       

                10.1 Mergers and Acquisitions  

                10.2 Joint Ventures, Collaborations and Agreements      

                10.3 Strategies Adopted by Leading Players        

11. Appendix                    

                11.1 Contact Us

                11.2 Disclaimer 

                *List not Exhaustive                       

                **Subject to availability on public domain                           

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