Dublin, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The "Power Transformers: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Power Transformers Market to Reach $41.2 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Power Transformers estimated at US$27 Billion in the year 2022, is projected to reach a revised size of US$41.2 Billion by 2030, growing at a CAGR of 5.4% over the analysis period 2022-2030. Oil Immersed, one of the segments analyzed in the report, is projected to record 5.8% CAGR and reach US$25.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Dry Type segment is readjusted to a revised 4.8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $5.2 Billion, While China is Forecast to Grow at 6.9% CAGR
The Power Transformers market in the U.S. is estimated at US$5.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$9.3 Billion by the year 2030 trailing a CAGR of 6.9% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 4.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.
Select Competitors (Total 93 Featured) -
- ABB Limited
- ASTOR TRANSFORMER A.S
- 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 Co., Ltd.
- Imefy Group
- JSHP Transformer
- Kirloskar Electric Company Limited
- KONCAR Group
- Mitsubishi Electric Corporation
- Olsun Electrics Corporation
- Schneider Electric SA
- SGB-SMIT Group
- Shihlin Electric & Engineering Corporation
- Siemens AG
- SPX Transformer Solutions, Inc.
- TBEA Co., Ltd.
- Toshiba Energy Systems & Solutions Corporation
- Wilson Power Solutions
- Wilson Transformer Company
- Winder Power Ltd.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
| Report Attribute | Details |
| No. of Pages | 761 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $27 Billion |
| Forecasted Market Value (USD) by 2030 | $41.2 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rising Utility Investments in Power Infrastructure for Transitioning to the Smart Grid Standard Drive Healthy Market Growth
- Global Market for Smart Grids (in US$ 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
- Traditional Vs. Smart Transformers: A Comparison
- Growing Prominence of Smart Cities and Smart Homes of the Future Necessitates Highly Capable Power T&D Networks
- Connected Things in Smart Cities: Installed Base (in Million) by Segment for 2015 and 2019
- 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
- Growing Adoption of Connected Home Equipment Supported by Expanding Digital Lifescape to Benefit Growth of Smart Homes: Percentage Breakdown of Global Smart Home Market by Technology for the 2018 and 2022
- Technology Improvements and Product Innovations Spearhead Market Expansion
- SGB-SMIT's Smart Transformers
- ABB AbilityT Power Transformer
- Self-Cooling Transformers from ABB
- Siemens' Ester Fluid-based Phase Shifting Power Transformer
- Hybrid Power Transformers Technology
- Energy Efficient and Eco-Friendly Power Transformers
- Wireless Power Transmission
- Innovative Alternative Fluids
- Design Innovation in Large Power Transformers (LPTs)
- Dryformers by ABB
- 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
- Powerformer: A Superior Replacement for Step-Up Transformer
- Innovative On-load Tap Changers (OLTCs) Improves Reliability and Safety
- Stabilizing Regulatory Environment Augurs Well
- Proposed/Approved Standards for Transformers in Select Countries
- Massive Increase in Building and Infrastructure Investments
- STable Economic Scenario Augurs Well for Power Transformers Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
A selection of companies mentioned in this report includes
- ABB Limited
- ASTOR TRANSFORMER A.S
- 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 Co., Ltd.
- Imefy Group
- JSHP Transformer
- Kirloskar Electric Company Limited
- KONCAR Group
- Mitsubishi Electric Corporation
- Olsun Electrics Corporation
- Schneider Electric SA
- SGB-SMIT Group
- Shihlin Electric & Engineering Corporation
- Siemens AG
- SPX Transformer Solutions, Inc.
- TBEA Co., Ltd.
- Toshiba Energy Systems & Solutions Corporation
- Wilson Power Solutions
- Wilson Transformer Company
- Winder Power Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/2wy8fo
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