Dublin, March 13, 2023 (GLOBE NEWSWIRE) -- The "Global Transformers Market (2023-2028) by Product, Mounting Solution, Insulation, Winding, Power Supply, Core, Installation, Application, and Geography, Competitive Analysis, Impact of Covid-19, Impact of Economic Slowdown & Impending Recession, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Transformers Market is estimated to be USD 43.35 Bn in 2023 and is expected to reach USD 59.39 Bn by 2028, growing at a CAGR of 6.5%.
The increasing requirement for energy-efficient power distribution grids and stringent government policies to minimize power wastage bolstered the market's growth prospects. New growth opportunities for the market are anticipated to come from increasing innovation for constructing a centralized power distribution network, ongoing acceptance of smart monitoring systems, and expanding power distribution infrastructure.
The keen interest of the governments and real estate developers towards procuring smart transformer solutions is projected to reinforce the evolution of the transformers market. In addition, most developing and underdeveloped countries are working to improve rural electrification standards and the penetration of power grids.
To consistently provide the rising global demand for power, many more transformers are required. A huge number of transformers is anticipated to be built globally between 2015 and 2040. Given the equipment's continuous usage during its 25-year service life, the performance of the transformer has a significant influence on power consumption. The demand on the power grid is lowered, costs are reduced, and reliability is increased due to improved performance. Payback times might be as little as a year or as long as six years or more, depending on the equipment and power rates.
Market Dynamics
Market Drivers
- Growing Digital Infrastructure And Penetration Of Connected Devices
- Increase In Number Of Sports Events And Leagues
Market Restraint/Challenges
- Stringent Government Regulations
Market Opportunities
- Application Of AI And Blockchain Technology
Market Segmentations
The Global Transformers Market is segmented based on Product, Mounting Solution, Insulation, Winding, Power Supply, Core, Installation, Application, and Geography.
- By Product, the market is classified into IF Transformer, Power Transformer, Instrument Transformer, Audio Transformer, Pulse Transformer, and Others.
- By Mounting Solution, the market is classified into Pad Mount Transformers, Pole Mount Transformers, and Underground Transformers.
- By Insulation, the market is classified into Liquid Immersed, Dry Type, Solid, and Others.
- By Winding, the market is classified into Helical Windings, Cylindrical Windings, Cross Over Windings, Aluminium Windings, Multi-Layer Helical Windings, Disk Windings, and Continuous Disk Windings.
- By Power Supply, the market is classified into Single Phase Supply and Three Phase Supply
- By Core, the market is classified into Shell Core and Closed Core.
- By Installation, the market is classified into Indoor and Outdoor.
- By Application, the market is classified into Commercial, Residential, Industrial, Utility, Energy and Power, and Oil and Gas.
- By Geography, North America has the largest market share because of the prominent players' current investment, particularly in the U.S., to upgrade and develop better and more efficient power grids, bolstering growth for the market. Asia Pacific is growing CAGR because of rapid industrialization and urbanization.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Transformers Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains a competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 178 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $43.35 Billion |
| Forecasted Market Value (USD) by 2028 | $59.39 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Dynamics
5 Market Analysis
6 Global Transformers Market, By Product
7 Global Transformers Market, By Mounting Location
8 Global Transformers Market, By Insulation
9 Global Transformers Market, By Winding
10 Global Transformers Market, By Power Supply
11 Global Transformers Market, By Core
12 Global Transformers Market, By Installation
13 Global Transformers Market, By Application
14 Americas' Transformers Market
15 Europe's Transformers Market
16 Middle East and Africa's Transformers Market
17 APAC's Transformers Market
18 Competitive Landscape
19 Company Profiles
20 Appendix
Companies Mentioned
- ABB Ltd.
- Banmore Electricals Pvt. Ltd.
- CG Power and Industrial Solutions
- Daihen Corp.
- Eaton Corp.
- Elsewedy Electric
- General Electric
- Hyosung Power & Industrial Systems
- IMEFY Group
- Kirloskar Electric
- Mitsubishi Electric Corp.
- Raychem RPG
- Schneider Electric
- Siemens Ag
- Toshiba Corp.
For more information about this report visit https://www.researchandmarkets.com/r/6wnt6h
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