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Power Transformers Global Market Report 2023: Rising Utility Investments in Power Infrastructure for Transitioning to the Smart Grid Standard Drives Growth
Global Market for Power Transformers
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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