Portland, OR, Aug. 22, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global vacuum pressure impregnated (VPI) transformer market amassed a revenue of nearly $1.44 billion in 2021, and is expected to hit nearly $2.47 billion by 2030, registering a CAGR of 6.2% from 2022 to 2030. The market research study offers an in-depth analysis of constantly changing industry trends, top-most segments, value chain analysis, key investment business scenarios, regional space, and competitive space. The study is a key information source for giant players, entrepreneurs, shareholders, and owners in generating new strategies for the future and taking steps to enhance their market position. The report displays an in-depth quantitative analysis of the market from 2022 to 2030 and guides investors in allocating funds to the rapidly evolving industry.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | $1.44 Billion |
| Market Size in 2030 | $2.47 Billion |
| CAGR | 6.2% |
| No. of Pages in Report | 300 |
| Segments Covered | Phase, Voltage Range, End-use, and Region |
| Drivers | Escalating demand for power supply and focus on minimizing the use of fossil fuels. |
| Rapid industrialization in emerging economies leading to a huge demand for electricity. | |
| Opportunities | Global expansion of power distribution network. |
Covid-19 Scenario
- The Covid-19 pandemic adversely impacted the expansion of the global vacuum pressure impregnated (VPI) transformer market, due to the shutdown of manufacturing units which impacted global supply chains.
- The COVID-19 outbreak led to the disruption of exports and imports and delay in the production of transformers, thereby hampering the growth of the global market.
- In initial phase of COVID-19 there was decline in demand for electricity. However, a quick recovery was witnessed and there was an increase in demand for electricity by end of 2020 due to ease in restrictions. This provided impetus to growth of the global market during the COVID-19 period.
The report offers a detailed segmentation of the global vacuum pressure impregnated (VPI) transformer market based on phase, voltage range, end-use, and region. It provides an in-depth analysis of every segment and sub-segment in tables and figures through which consumers can derive a conclusion about market trends and insights. The market report analysis aids organizations, investors, and entrepreneurs in understanding which sub-segments are to be tapped for achieving huge growth in the years ahead.
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In terms of phase, the single-phase segment contributed to the largest market share in 2021, accounting for more than four-fifths of the overall vacuum pressure impregnated (VPI) transformer market. Moreover, this segment is predicted to retain its leading status during the forecasted timespan. However, the three-phase segment is set to record the highest CAGR of 7.6% from 2022 to 2030.
On the basis of voltage range, the low segment held the largest share in 2021, contributing to nearly three-fourths of the overall vacuum pressure impregnated (VPI) transformer market. Moreover, this segment is predicted to account for the highest market share by 2030. Furthermore, the low segment is also anticipated to record the fastest CAGR of 6.4% during the forecasted timeframe. The report also provides an overall analysis of segments such as the medium segment.
Based on end-use, the industrial segment held the largest share in 2021, contributing to more than half of the overall vacuum pressure impregnated (VPI) transformer market. Moreover, this segment is projected to dominate the market in terms of revenue by 2030. However, the commercial segment is anticipated to register the fastest CAGR of 6.6% during the forecast timespan. The report also provides an overall analysis of the others segment.
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Based on region, Asia-Pacific grabbed the largest market share in 2021, accounting for two-fifths of the global vacuum pressure impregnated (VPI) transformer market. Moreover, the region is predicted to contribute majorly toward the regional market share throughout the forecast period. However, the North American Vacuum pressure impregnated (VPI) transformer market is set to record the highest CAGR of 6.6% during the forecast period. The research also analyzes regions including LAMEA and Europe.
Leading players in the global vacuum pressure impregnated (VPI) transformer market analyzed in the research include Schneider Electric, ABB, Raychem RPG Private Limited, General Electric, Bharat Heavy Electricals Limited, Eaton, CG Power and Industrial Solutions Ltd., Siemens, TOSHIBA CORPORATION, and Instrument Transformer Equipment Corporation.
The report evaluates these major participants in the global vacuum pressure impregnated (VPI) transformer industry. These players have executed a spectrum of major business strategies such as the expansion of regional and customer base, product development, strategic collaborations, and joint ventures for expanding their product portfolios in the global markets. The market research report supports the performance monitoring of each segment, positioning of each product in respective segments, and the impact of new technology and product launches on the overall market size.
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