Dublin, Aug. 30, 2021 (GLOBE NEWSWIRE) -- The "Transformer Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global transformer market is expected to grow from $184.21 billion in 2020 to $202.08 billion in 2021 at a compound annual growth rate (CAGR) of 9.7%. The market is expected to reach $266.73 billion in 2025 at a CAGR of 7%.
Major players in the transformer market are ABB, General Electric Corporation, Schneider Electric S.A., Mitsubishi Electric Corporation, Schneider Electric, Mitsubishi Electrics, Toshiba Corporation, Siemens and SGB-SMIT and Hammond Power Solutions.
The transformer market consists of sales of transformers and related services which are used in manufacturing of power, distribution and specialty transformers. A transformer transfers energy form one circuit to another. Transformers increase or decrease voltage and current level, increase or decrease capacitor value, prevent direct current from passing between two circuits and isolate circuits.
Favourable government policies to increase electrification contributed to the growth of the transformers market in the historic period. Countries around the world are implementing several initiatives to increase electrification across the countries. These initiatives increased the market for medium power transformers in the historic period. The increasing demand for medium, low and high-power transformers supported by favourable government initiatives positively impacts the growth of transformers market.
Instability in pricing of raw materials is a major restraint in the transformers manufacturing market. The instability is due to the volatility in the raw material prices of steel, copper, and crude oil. Steel and copper are predominantly used in manufacture of transformers. Increased tariffs on raw materials such as steel and copper, increased the volatility of prices, thereby limiting the growth of the market for medium power transformers. The increase in prices leads to increase in operating expense thereby hampering the growth of the market.
The transformers market covered in this report is segmented by transformer type: power transformer, distribution transformer. It is also segmented by type: low rated transformer, high rated transformer
Transformers market is moving towards evolution of independent and self-regulating smart transformers. Smart transformers are programmed to constantly regulate voltage and maintain contact with the stakeholders and provide information and feedback on the power supply. They provide the exact amount of power that is needed and respond to fluctuations through a process known as voltage optimization.
They significantly reduce greenhouse gas emissions and power consumption as they supply electrical equipment with the ideal amount of power. Companies should consider investing in technologies to produce smart transformers for commercial establishments.
Key Topics Covered:
1. Executive Summary
2. Transformer Market Characteristics
3. Transformer Market Trends and Strategies
4. Impact of COVID-19 on Transformers
5. Transformer Market Size and Growth
5.1. Global Transformers Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Transformers Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Transformer Market Segmentation
6.1. Global Transformer Market, Segmentation by Transformer Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Transformer Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Low rated transformer
High rated transformer
6.3. Global Transformer Market, Segmentation by End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Residential & Commercial
7. Transformer Market Regional and Country Analysis
7.1. Global Transformer Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Transformer Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
General Electric Corporation
Mitsubishi Electric Corporation
Hammond Power Solutions
SPX Transformer Solutions
Kirloskar Electric Company
RITZ Instrument Transformers GmbH
Hammond Power Solutions Inc.
SPX Transformer Solutions
Fortune Electric Co. Ltd.
Schaffner Holding AG
For more information about this report visit https://www.researchandmarkets.com/r/ltagjp
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