The North America Power Transformer Market should witness market growth of 6.1% CAGR during the forecast period (2022-2028).
It is anticipated that burgeoning green initiatives, service expansions in resource-based businesses, and rising PCB replacement programmes will present remarkable growth opportunities for the power transformer market. Power plants, conventional electric utility companies, and power plants widely utilize these devices. As compared to the production stations and transmission networks, these devices are large in size.
As the power transformers are utilized in transmitting networks, they are not directly used by the customers. Instead, these devices are utilized as step-up systems for transmitting energy and decreasing I2R waste to a prescribed power flow. The power transformers are primarily employed at distribution stations for power generation. They are also used in six-pulse and twelve-pulse rectifier transformers, isolation systems, wind farm transformers, earthing transformers, autotransformer starters, and solar PV farm transformers.
In Mexico, the power generation was credited for 327,965 GWh (Gigawatt hours) in 2019. Of this, 26.6% was produced with clean energy sources comprising efficient cogeneration, nuclear energy, and renewables. It is predicted that by 2020, the power generation will amount to 340,162 GWh, with 31.6% expected from clean energy sources. As per the IRENA (international renewable energy agency) publication, Mexico has a diverse and significant resource potential and can attract extensive investments to expand its energy supply. This, in turn, will support the growth of regional market.
The US market dominated the North America Power Transformer Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $6,485 Million by 2028. The Canada market is poised to grow at a CAGR of 8.5% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 7.5% during (2022-2028).
Based on Insulation, the market is segmented into Oil, Gas, Air, Solid and Others. Based on Application, the market is segmented into Industrial, Residential & Commercial and Utilities. Based on Rating, the market is segmented into 100 MVA to 500 MVA, 501 MVA to 800 MVA and 801 MVA to 1,200 MVA. Based on Phase, the market is segmented into Three and Single. Based on Core, the market is segmented into Shell, Closed and Berry. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Toshiba Corporation, ABB Group, General Electric Company, Siemens Energy AG, Alstom SA, Mitsubishi Electric Corporation, Hyosung Heavy Industries Corporation, CG Power & Industrial Solutions Ltd. (Murugappa Group), Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.), and Bharat Heavy Electricals Ltd.
It is anticipated that burgeoning green initiatives, service expansions in resource-based businesses, and rising PCB replacement programmes will present remarkable growth opportunities for the power transformer market. Power plants, conventional electric utility companies, and power plants widely utilize these devices. As compared to the production stations and transmission networks, these devices are large in size.
As the power transformers are utilized in transmitting networks, they are not directly used by the customers. Instead, these devices are utilized as step-up systems for transmitting energy and decreasing I2R waste to a prescribed power flow. The power transformers are primarily employed at distribution stations for power generation. They are also used in six-pulse and twelve-pulse rectifier transformers, isolation systems, wind farm transformers, earthing transformers, autotransformer starters, and solar PV farm transformers.
In Mexico, the power generation was credited for 327,965 GWh (Gigawatt hours) in 2019. Of this, 26.6% was produced with clean energy sources comprising efficient cogeneration, nuclear energy, and renewables. It is predicted that by 2020, the power generation will amount to 340,162 GWh, with 31.6% expected from clean energy sources. As per the IRENA (international renewable energy agency) publication, Mexico has a diverse and significant resource potential and can attract extensive investments to expand its energy supply. This, in turn, will support the growth of regional market.
The US market dominated the North America Power Transformer Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $6,485 Million by 2028. The Canada market is poised to grow at a CAGR of 8.5% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 7.5% during (2022-2028).
Based on Insulation, the market is segmented into Oil, Gas, Air, Solid and Others. Based on Application, the market is segmented into Industrial, Residential & Commercial and Utilities. Based on Rating, the market is segmented into 100 MVA to 500 MVA, 501 MVA to 800 MVA and 801 MVA to 1,200 MVA. Based on Phase, the market is segmented into Three and Single. Based on Core, the market is segmented into Shell, Closed and Berry. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Toshiba Corporation, ABB Group, General Electric Company, Siemens Energy AG, Alstom SA, Mitsubishi Electric Corporation, Hyosung Heavy Industries Corporation, CG Power & Industrial Solutions Ltd. (Murugappa Group), Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.), and Bharat Heavy Electricals Ltd.
Scope of the Study
By Insulation
- Oil
- Gas
- Air
- Solid
- Others
By Application
- Industrial
- Residential & Commercial
- Utilities
By Rating
- 100 MVA to 500 MVA
- 501 MVA to 800 MVA
- 801 MVA to 1,200 MVA
By Phase
- Three
- Single
By Core
- Shell
- Closed
- Berry
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Toshiba Corporation
- ABB Group
- General Electric Company
- Siemens Energy AG
- Alstom SA
- Mitsubishi Electric Corporation
- Hyosung Heavy Industries Corporation
- CG Power & Industrial Solutions Ltd. (Murugappa Group)
- Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.)
- Bharat Heavy Electricals Ltd.
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- Exhaustive coverage
- The highest number of Market tables and figures
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- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Power Transformer Market, by Insulation
1.4.2 North America Power Transformer Market, by Application
1.4.3 North America Power Transformer Market, by Rating
1.4.4 North America Power Transformer Market, by Phase
1.4.5 North America Power Transformer Market, by Core
1.4.6 North America Power Transformer Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. North America Power Transformer Market by Insulation
3.1 North America Oil Market by Country
3.2 North America Gas Market by Country
3.3 North America Air Market by Country
3.4 North America Solid Market by Country
3.5 North America Others Market by Country
Chapter 4. North America Power Transformer Market by Application
4.1 North America Industrial Market by Country
4.2 North America Residential & Commercial Market by Country
4.3 North America Utilities Market by Country
Chapter 5. North America Power Transformer Market by Rating
5.1 North America 100 MVA to 500 MVA Market by Country
5.2 North America 501 MVA to 800 MVA Market by Country
5.3 North America 801 MVA to 1,200 MVA Market by Country
Chapter 6. North America Power Transformer Market by Phase
6.1 North America Three Market by Country
6.2 North America Single Market by Country
Chapter 7. North America Power Transformer Market by Core
7.1 North America Shell Market by Country
7.2 North America Closed Market by Country
7.3 North America Berry Market by Country
Chapter 8. North America Power Transformer Market by Country
8.1 US Power Transformer Market
8.1.1 US Power Transformer Market by Insulation
8.1.2 US Power Transformer Market by Application
8.1.3 US Power Transformer Market by Rating
8.1.4 US Power Transformer Market by Phase
8.1.5 US Power Transformer Market by Core
8.2 Canada Power Transformer Market
8.2.1 Canada Power Transformer Market by Insulation
8.2.2 Canada Power Transformer Market by Application
8.2.3 Canada Power Transformer Market by Rating
8.2.4 Canada Power Transformer Market by Phase
8.2.5 Canada Power Transformer Market by Core
8.3 Mexico Power Transformer Market
8.3.1 Mexico Power Transformer Market by Insulation
8.3.2 Mexico Power Transformer Market by Application
8.3.3 Mexico Power Transformer Market by Rating
8.3.4 Mexico Power Transformer Market by Phase
8.3.5 Mexico Power Transformer Market by Core
8.4 Rest of North America Power Transformer Market
8.4.1 Rest of North America Power Transformer Market by Insulation
8.4.2 Rest of North America Power Transformer Market by Application
8.4.3 Rest of North America Power Transformer Market by Rating
8.4.4 Rest of North America Power Transformer Market by Phase
8.4.5 Rest of North America Power Transformer Market by Core
Chapter 9. Company Profiles
9.1 Toshiba Corporation
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research and Development Expense
9.1.5 SWOT Analysis
9.2 ABB Group
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.5 Recent strategies and developments:
9.2.5.1 Acquisitions and Mergers:
9.2.6 SWOT Analysis
9.3 General Electric Company
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expense
9.3.5 SWOT Analysis
9.4 Siemens Energy AG
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expenses
9.4.5 Recent strategies and developments:
9.4.5.1 Partnerships, Collaborations, and Agreements:
9.4.5.2 Product Launches and Product Expansions:
9.5 Alstom SA
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expenses
9.6 Mitsubishi Electric Corporation
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Research & Development Expense
9.6.5 Recent strategies and developments:
9.6.5.1 Acquisitions and Mergers:
9.7 Hyosung Heavy Industries Corporation
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Research & Development Expenses
9.8 CG Power & Industrial Solutions Ltd. (Murugappa Group)
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Segmental and Regional Analysis
9.9 Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.)
9.9.1 Company Overview
9.9.2 Financial Analysis
9.10. Bharat Heavy Electricals Ltd.
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Segmental Analysis
Companies Mentioned
- Toshiba Corporation
- ABB Group
- General Electric Company
- Siemens Energy AG
- Alstom SA
- Mitsubishi Electric Corporation
- Hyosung Heavy Industries Corporation
- CG Power & Industrial Solutions Ltd. (Murugappa Group)
- Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.)
- Bharat Heavy Electricals Ltd.
Methodology
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