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Power Transformers - Market Analysis, Trends, and Forecasts

  • ID: 2498175
  • Report
  • March 2020
  • Region: Global
  • 761 Pages
  • Global Industry Analysts, Inc
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The Power Transformers market worldwide is projected to grow by US$10.8 Billion, driven by a compounded growth of 6.2%. Oil Immersed, one of the segments analyzed and sized in this study, displays the potential to grow at over 6.5%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$19.3 Billion by the year 2025, Oil Immersed will bring in healthy gains adding significant momentum to global growth.

Representing the developed world, the United States will maintain a 5% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$219.1 Million to the region's size and clout in the next 5 to 6 years. Over US$289.7 Million worth of projected demand in the region will come from Rest of Europe markets. In Japan, Oil Immersed will reach a market size of US$540.9 Million by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 8.1% over the next couple of years and add approximately US$2.8 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others:
  • 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.
  • Hyosung Heavy Industries
  • Hyundai Electric & Energy Systems Co., Ltd.
  • Imefy Group
  • JSHP Transformer
  • Kirloskar Electric Company Limited
  • KONÄŒAR 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.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
Power Transformers: The Power to Manage Power with Greater Reliability, Efficiency, Resilience, and Durability
Market Fortunes Intrinsically Linked to Power T&D Equipment Industry
EXHIBIT 1: Worldwide Sales of Power T&D Equipment (in US$ Billion) for Years 2014, 2019, and 2024P
EXHIBIT 2: Percentage Breakdown of Power T&D Equipment Sales (Value) for US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World (2019)
EXHIBIT 3: World Power T&D Equipment Market by Product Segment (2019): Percentage Breakdown of Value Sales for Transformers, Switchgear and Others
Surge in Energy Consumption and Resulting Expansion in Power Production and T&D Investments
EXHIBIT 4: Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
EXHIBIT 5: Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
EXHIBIT 6: Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
Transformations in Power Transmission Technology over the Years
Steady Growth Projected for Power Transformers
Developing Regions Emerge as Core Markets Amid Rising Power Infrastructure Spending
EXHIBIT 7: Estimated Global Power Generation Infrastructure Requirement (US$ Billion) for China, India and Latin America Over the Period 2010-2030
Aging Power Transformer Fleet Underscores Need for Replacement and Upgrades in Developed Regions
COMPETITIVE LANDSCAPE
Power Transformers: A Consolidated Marketplace
ABB Dominates the High Voltage Power Transmission Market
EXHIBIT 8: Leading Players in the World High Power Transmission Equipment, Systems and Services Market (2019): Percentage Market Share Breakdown for ABB Ltd., Siemens, TBEA, and Others
Competitive Pressures Continue to Build Up in Power Transformers Business
Intense Competition Necessitates M&A

2. FOCUS ON SELECT PLAYERS
ABB Limited (Switzerland)
ASTOR TRANSFORMER A.S (Turkey)
Bharat Heavy Electricals Limited (India)
Bowers Electricals Ltd. (UK)
CG Power and Industrial Solutions Limited (India)
DAIHEN Corporation (Japan)
EFACEC Group (Portugal)
GE Grid Solutions (USA)
Hammond Power Solutions, Inc. (Canada)
Hyosung Heavy Industries (South Korea)
Hyundai Electric & Energy Systems Co., Ltd. (South Korea)
Imefy Group (Spain)
JSHP Transformer (China)
Kirloskar Electric Company Limited (India)
KONČAR Group (Croatia)
Mitsubishi Electric Corporation (Japan)
Olsun Electrics Corporation (USA)
Schneider Electric SA (France)
SGB-SMIT Group (Germany)
SGB-SMIT Power Matla (South Africa)
Shihlin Electric & Engineering Corporation (Taiwan)
Siemens AG (Germany)
SPX Transformer Solutions, Inc. (USA)
TBEA Co., Ltd. (China)
Toshiba Energy Systems & Solutions Corporation (Japan)
Wilson Power Solutions (UK)
Wilson Transformer Company (Australia)
Winder Power Ltd. (UK)

3. MARKET TRENDS & DRIVERS
Rising Utility Investments in Power Infrastructure for Transitioning to the Smart Grid Standard Drive Healthy Market Growth
EXHIBIT 9: Global Market for Smart Grids (in US$ Billion) for the Years 2018 and 2020
EXHIBIT 10: 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
EXHIBIT 11: Global Wind Power Installed Capacity (In GW) for the Years 2015 -2022
EXHIBIT 12: 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
EXHIBIT 13: Global Investments in Renewable Energy (2007-2017): Breakdown of New Investments (US$ Billion) for China, India & Brazil; Other Developing; and Developed Countries
EXHIBIT 14: Global Investments in Renewable Energy by Sector (2017): Breakdown of New Investments (US$ Billion) for Biofuels, Biomass & Waste-to-Energy, Geothermal, Marine, Small Hydro, Solar, and Wind
EXHIBIT 15: 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
EXHIBIT 16: Global Smart Transformers Market - Annual Revenue Figures in US$ Million for Years 2014, 2016, 2018 & 2020P
Smart Transformers for Smarter Power Transmission and Distribution
Growing Prominence of Smart Cities and Smart Homes of the Future Necessitates Highly Capable Power T&D Networks
EXHIBIT 17: Connected Things in Smart Cities: Installed Base (in Million) by Segment for 2015 and 2019
EXHIBIT 18: 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
EXHIBIT 19: 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
EXHIBIT 20: Global Home Automation Revenues in US$ Million by Geographic Region for 2018 and 2024
Technology Improvements and Product Innovations Spearhead Market Expansion
SGB-SMIT's Smart Transformers
ABB Ability™ 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
Demographic and Socio-Economic Trends Strengthen Market Prospects
Ballooning Global Population
EXHIBIT 21: World Population (in Thousands) by Geographic Region for the Years 2018, 2025, 2040, 2050
Exponential Increase in Urban Dwellers
EXHIBIT 22: World Urban Population in Thousands: 1950-2050P
EXHIBIT 23: Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
EXHIBIT 24: Percentage of Urban Population in Select Countries for 2018, 2020, 2030, 2040 and 2050
Massive Increase in Building and Infrastructure Investments
EXHIBIT 25: Global Construction Output by Region (2022): Breakdown of Construction Output (US$ Billion) and Percentage Change over 2018-2022
EXHIBIT 26: Global Infrastructure Spending Estimates (Percentage of GDP) by Region
Stable Economic Scenario Augurs Well for Power Transformers Market
EXHIBIT 27: Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2018 through 2021

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
Need to Replace and Upgrade Aging T&D Infrastructure Drive Market Growth
EXHIBIT 28: Transmission & Distribution Spending ($ Billion) in the United States: 1990-2009 & 2010-2030P
Major Growth Drivers Summarized
Inadequate and Aging T&D Infrastructure
Failure of Vital Systems during Storms Resulting in Power Outages
Need for Reliable Power Supply
Regulatory Landscape
Demand for Outsourced Providers
Focus on Renewable Energy Generation
Proliferation of Oil & Gas Production
Transition from Coal to Natural Gas Generation
Expanding Smart Grid Infrastructure Boosts Demand for Smart Transformers
Smart Transformers to Enhance Flexibility and Cleanliness of Electrical Grids
Replacement Demand to Drive Spending on Larger Power Transformers (LPTs)
EXHIBIT 29: US Transmission & Distribution Spending for the Period 2011-2035: Percentage (%) Breakdown of Spending for New Equipment and Replacements
Burgeoning Electricity Demand Provides the Perfect Platform for Market Adoption
EXHIBIT 30: Electricity Demand (Billion KWh) in the United States: 1980-2040
Rapidly Evolving Role of Renewable Energy in Power Sector Supports Growth
EXHIBIT 31: US Net Electricity Generation by Energy Source (2000, 2010, 2020, 2030 & 2040): Breakdown of Electricity Generation (Billion Kilowatt-hours) from Coal, Natural Gas, Nuclear, Petroleum, and Renewable Energy
Industrial & Electric Utilities: Dominant End-use Sectors for T&D Equipment
EXHIBIT 32: Electric Power T&D Equipment Market in the US by End-use Sector (2019): Percentage Breakdown of Value Demand for Residential, Commercial, Electric Utilities Industrial and Others
EXHIBIT 33: Energy Consumption in the United States (2008, 2016 & 2020P): Breakdown of Electricity Consumption (in Billion Kilowatt Hours) by Key End-Use Industries - Residential, Commercial, and Industrial
Presence of Leading Suppliers in Medium and Large Power Transformers Company Medium Transformers Large Transformers
Electric Utilities to Benefit from Energy-Related Technology Disruptions in Silicon Valley
US T&D Infrastructure: A Macro Perspective
EXHIBIT 34: Power T&D Equipment Sales in the US (in US$ Million) for Years 2014, 2019, and 2024P
EXHIBIT 35: US Power T&D Equipment Market (2019): Percentage Breakdown of Dollar Sales for Transformers, Switchgears, and Others
Market Analytics
CANADA
Market Overview
Market Analytics
JAPAN
Recent Energy Sector Transformation and Focus on Renewable Energy Sustain Market Growth
EXHIBIT 36: Japan’s Power Generation by Energy Source (2005, 2015, and 2030): Percentage Breakdown for Coal-fired Thermal Power, Gas-fired Thermal Power, Nuclear Power, Oil-fired Thermal Power, and Renewable Energy
Market Analytics
CHINA
Government Efforts to Address the Country’s Power Requirements Drive Strong Market Growth
EXHIBIT 37: Electricity Consumption in China: 2006-2016 (in TWh)
The Northwest and Southeast China to Bolster the Demand for Electric T&D Equipment
Industry Moves towards High-Voltage Transformers
Issues Persist in the Chinese Transformer Industry
Chinese Transformers Industry: Highly Competitive at the Lower End
EXHIBIT 38: Leading Transformer Companies in China (2019): Percentage Market Share Breakdown for ABB, Baoding, TBEA, XD Electric and Others
Chinese Vendors Eye Overseas Markets
Transformers - Regulatory Scenario
Market Analytics
EUROPE
Europe: A Mature yet Growing Market
Smart Grids to Drive Next Wave of Growth
EU Proposes New Ecodesign Energy Efficiency Standard for Transformers
PowerGrid Program to Redefine Future of Power Transmission
Market Analytics
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
Asia-Pacific: The Largest and the Fastest Growing Regional Market
EXHIBIT 39: Percentage (%) Share of Asia-Pacific in the World Power Transformers Sales (2019 & 2025P)
China and India Instigate Large-Scale Opportunities
Rural Electrification in Asian Countries Promotes Market Expansion
Railway Electrification & High-Speed Railway Projects Augment Addressable Market
Market Analytics
AUSTRALIA
Market Overview
Market Analytics
INDIA
India - A Market Laden with Opportunities
Government’s Power-for-All Initiatives to Drive Demand
CEA’s National Electricity Plan (NEP) Indicates Robust Requirement
The Indian Electrical Equipment Industry: A Macro Perspective
Competitive Landscape
Indian Transformers Market: A Peek into Market Tiers
EXHIBIT 40: Leading Players in the Indian Transformers Market (2019): Percentage Breakdown of Production Capacities for ABB, Baoding Tianwei, BHEL, Crompton Greaves (CG), GE Power India, Siemens,TBEA, Transformers & Rectifiers India, and Others
India Growing Into a Major Global Export Hub for Transformers
Opportunities Galore for Indian Transformer Manufacturers
Overseas Players Keenly Eye Indian Shores, Market Headed for Consolidation
Vendors Seek Higher Government Involvement in R&D and Testing & Evaluation
Market Analytics
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
Increased Investments in Power T&D Infrastructure Augurs Well
Growing Concerns over Grid Network Congestion
Market Analytics
MEXICO
Mexico: A Niche Regional Market
Market Analytics
REST OF LATIN AMERICA
MIDDLE EAST
Energy Infrastructure Needs in the Middle East Drive Market Growth
Upgrade of Electric Power and Distribution Infrastructure Drive Demand in Saudi Arabia
Saudi Arabia’s Ambitious Solar Energy Plans to Boost Smart Grids
Energy Challenges Open Avenues for Huge Investment Opportunities in Africa
Urgent Need to Provide Proper Access to Electricity: Primary Demand Driver
Growing Investments in Large-Scale Power Infrastructure Projects Bodes Well
Market Analytics
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA

IV. COMPETITION
Total Companies Profiled : 71 (including Divisions/Subsidiaries - 83)
Note: Product cover images may vary from those shown
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