Product Code: 66746
Global electricity demand reached 22,016 TWh in 2017, around 30% higher than the consumption in 2006, which was supported by the expansion of the transmission and distribution network. This resulted in a significant demand for the T&D equipment, such as a transformer. The global power supply is undergoing a major transition, moving away from fossil fuels and shifting toward renewable energy sources. Moreover, investments in new renewable power capacity have outstripped the amount invested in fossil-based generating capacity, with most of the installation of new renewable energy capacity currently occurring in developing and emerging countries. Renewable power accounted for 70% of net additions to global power generating capacity in 2017. The strong growth in renewable energy is a result of the increasing competitiveness of wind and solar power. With the rapid integration of renewables and distributed technologies onto the grid, utilities have to upgrade their existing systems to address the challenges of maintaining power quality, balancing supply and demand in real time, and ensure adequate distribution infrastructure capacity. With the rapid integration of renewables and distributed technologies onto the grid, utilities have to upgrade their existing systems to address the challenges of maintaining power quality, balancing supply and demand in real time, and ensure adequate distribution infrastructure capacity. With the falling cost of renewables-based power generation, the requirement for T&D infrastructure is expected to increase, thereby, supporting the growth of the market studied.
- The distribution transformers are expected to dominate the market.
- Asia-Pacific region is expected to lead the market, owing to infrastructure development investments.
Key Market Trends
Distribution Transformers to Dominate the Market
- The distribution transformers are most widely used in commercial buildings and by industrial customers, as well as electric utilities, largely in areas, where electricity leaks are more costly. Mainly the emerging countries, like countries in Asia and the Middle East are witnessing substantial investments in transmission and distribution infrastructure development.
- The developed countries are also moving towards the smart grid, which, in turn, is expected to drive the infrastructure refurbishment in these regions. As a result of growing investments, the demand for the distribution transformers is expected to grow at a significant rate.
Asia-Pacific Region to Lead the Market
- The Asia-Pacific region is experiencing significant growth in electricity demand, owing to high GDP growth in the major countries like China and India, and rapid industrialization and urbanization in the region.
- Also, the transmission and distribution network in many of the countries is not sufficient, and the countries in the region are aggressively investing in the T&D infrastructure to provide the electricity in the most rural parts. As a result of growing electricity demand, and investments in infrastructure development, the Asia-Pacific region is expected to lead the market during the forecast period.
The global transformer market is fragmented. Some of the major companies include Siemens AG, ABB Ltd, General Electric Company, and Mitsubishi Electric Corporation.
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Table of Contents
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
- 1.4 Study Deliverables
- 1.5 Research Phases
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion till 2024
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
- 4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
5 MARKET SEGMENTATION
- 5.1 Power Rating
- 5.1.1 Large
- 5.1.2 Medium
- 5.1.3 Small
- 5.2 Cooling Type
- 5.2.1 Air-cooled
- 5.2.2 Oil-cooled
- 5.3 Transformer Type
- 5.3.1 Power Transformer
- 5.3.2 Distribution Transformer
- 5.4 Geography
- 5.4.1 North America
- 5.4.2 Asia-Pacific
- 5.4.3 Europe
- 5.4.4 South America
- 5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
- 6.3 Company Profiles
- 6.3.1 Siemens AG
- 6.3.2 ABB Ltd
- 6.3.3 General Electric Company
- 6.3.4 Crompton Greaves Limited
- 6.3.5 Mitsubishi Electric Corporation
- 6.3.6 Hyundai Heavy Industries Co. Ltd
- 6.3.7 Toshiba Corporation
- 6.3.8 Hyosung Group
- 6.3.9 Bharat Heavy Electricals Limited
- 6.3.10 SPX Transformer Solutions Inc.
- 6.3.11 Schneider Electric SE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS