Selbyville, Delaware, Feb. 04, 2021 (GLOBE NEWSWIRE) --
The power transformer market revenue is expected to cross USD 24 Billion by 2027, as reported in the latest study by Global Market Insights, Inc. Rising deployment of sustainable energy networks along with stringent government policies and reforms to curtail carbon emissions will drive the business landscape. In addition, large scale urban migration along with growing inclination toward energy generation sources will accelerate the industry dynamics. Ongoing technological enhancements toward integration of cloud-based systems across the grid network will further boost the product adoption.
Dry-type power transformer industry exceeded USD 5 billion in 2020. Ability of these units to offer zero carbon emission, high dielectric strength and low maintenance cost will drive the product demand. Ongoing investments by leading players across the R&D activities will positively influence the product portfolio.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/128
Power transformer market by > 800 MVA capacity is anticipated to surge on account of ongoing industrial expansion across developing countries in line with growing adoption of sustainable power generation sources. Rising electricity consumption across medium and large-scale industrial establishments which includes oil & gas refineries, food and processing manufacturing plants will further propel the product demand. In addition, integration of advanced power transmission units across renewable grid structure will propel the business scenario.
Some prime findings of the power transformer market report include:
- The global market is expected to grow on account of rising electricity demand coupled with increasing investment toward long-distance power grid infrastructure.
- Ongoing technological advancements to deploy cloud-based solutions across existing T&D networks will positively sway the product demand.
- Major players operational across the market are General Electric, ABB, Eaton, Schneider Electric, and Siemens.
- Large scale renewable integration across the developed and developing nations followed by paradigm shift toward development of sustainable electric infrastructure will positively influence the power transformer industry dynamics.
Browse key industry insights spread across 1050 pages with 2401 market data tables & 50 figures & charts from the report, “Power Transformer Market Forecasts By Rating (< 100 MVA, 101 MVA to 500 MVA, 501 MVA to 800 MVA, > 800 MVA), Core (Closed, Shell, Berry), Winding (Two Winding, Auto-Transformer), Installation (Outdoor, Indoor), Cooling (Dry Type {Self-Air, Air Blast}, Oil Immersed {Self-Cooled, Water Cooled, Forced Oil}), Insulation (Gas, Oil, Solid, Air), Phase (Three Phase, Single Phase), Mounting (Pad, Pole, PC/PCB), Application (Residential & Commercial {Hotels, Hospitals, Societies}, Utility, Industrial {Railways, Cement, Power, Oil & Gas}), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/power-transformer-market-report
Oil insulated units, in 2020 holds the majority share of 58.9% across the power transformer market. Growing applicability of these units across commercial, industrial small- and large-scale utilities will further sway the product adoption. In addition, increasing number of projects which includes cross-border and inter-state transmission, and distribution infrastructure will in turn drive the industry landscape.
COVID - 19 impact resulted into decline in public & private investments across the power sector. However, developed countries have initiated toward over-compensating the pandemic effect by fast tracking the construction of T&D networks. In addition, continuous increase in electricity demand across utility, industrial, and commercial & residential sector will fuel the business outlook.
Middle East and Africa power transformer market is estimated to grow on account of rising investments toward development of electric infrastructure network followed by stringent government policies to curtail usage of carbon emission electrical equipment. Moreover, restructuring & revamping of existing power grid infrastructure coupled with development of micro-grid networks across the isolated zones will positively sway the business scenario.
Toc of this report @ https://www.gminsights.com/toc/detail/power-transformer-market-report
Browse Related Report:
Instrument Transformer Market By Cooling (Dry type {Self-air, Air blast}, Oil immersed {Self cooled, Water cooled, Forced oil}), Insulation (Gas, Oil, Solid, Air), Product (Current {Wound, Closed}, Potential {Electromagnetic, Capacitor}), Winding (Two winding, Auto-transformer), Installation (Outdoor, Indoor), Phase (Three, Single), Rating (≤ 250 kV, 251 to 500 kV, > 500 kV), Mounting (Pad, Pole, PC/PCB), Application (Residential & Commercial {Education, Healthcare, Societies}, Utility, Industrial {Railways, Cement, Power, Oil & Gas}), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
https://www.gminsights.com/industry-analysis/instrument-transformer-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.