Global Transformers Market (2023-2028) Competitive Analysis, Impact of Covid-19, Impact of Economic Slowdown & Impending Recession, Ansoff Analysis

Increase in the utilization of renewable energy will boost investments in power transmission and distribution infrastructure and grid assets

The Global Transformers Market is estimated to be USD 44.18 Bn in 2023 and is expected to reach USD 60.55 Bn by 2028 growing at a CAGR of 6.51%.

• Transformers are electrical equipment that can operate at various current and voltage levels and transfer electrical power from one circuit to another. Transformers alter the voltage and current levels, alter the value of capacitors, block the flow of direct current between two circuits, and isolate circuits.
• They come in various varieties and are frequently utilized in businesses, industries, and electrical appliances. Power Transformers are one of the main types of transformers among them. Power electronics, or power management, are extensively employed.
• The increasing requirement for energy-efficient power distribution grids and stringent government policies to minimize power wastage bolstered the market's growth prospects. New growth opportunities for the market are anticipated to come from increasing innovation for constructing a centralized power distribution network, ongoing acceptance of smart monitoring systems, and expanding power distribution infrastructure. The keen interest of the governments and real estate developers towards procuring smart transformer solutions is projected to reinforce the evolution of the transformers market. In addition, most developing and underdeveloped countries are working to improve rural electrification standards and the penetration of power grids.
• To consistently provide the rising global demand for power, many more transformers are required. Huge number of transformers is anticipated to be built globally between 2015 and 2040. Given the equipment's continuous usage during its 25-year service life, the performance of the transformer has a significant influence on power consumption. The demand on the power grid is lowered, costs are reduced, and reliability is increased due to improved performance. Payback times might be as little as a year or as long as six years or more, depending on the equipment and power rates.
• Using more efficient transformers can reduce world power usage by around 5%. But Transformers is one of the main components of electrical circuits. To increase and decrease the power voltage, having high-efficiency equipment allows the companies to increase their operational capabilities, resulting in fewer energy losses. Although its initial cost is higher, operating costs decrease, making them a good option for various installations. However, developing economies with low infrastructure budgets can impact the economy to install more transformers.

Market Segmentations

• The Global Transformers Market is segmented based on Product, Mounting Solution, Insulation, Winding, Power Supply, Core, Installation, Application, and Geography.
• By Product, the market is classified into IF Transformer, Power Transformer, Instrument Transformer, Audio Transformer, Pulse Transformer, and Others.
• By Mounting Solution, the market is classified into Pad Mount Transformers, Pole Mount Transformers, and Underground Transformers.
• By Insulation, the market is classified into Liquid Immersed, Dry Type, Solid, and Others.
• By Winding, the market is classified into Helical Windings, Cylindrical Windings, Cross Over Windings, Aluminium Windings, Multi-Layer Helical Windings, Disk Windings, and Continuous Disk Windings.
• By Power Supply, the market is classified into Single Phase Supply and Three Phase Supply
• By Core, the market is classified into Shell Core and Closed Core.
• By Installation, the market is classified into Indoor and Outdoor.
• By Application, the market is classified into Commercial, Residential, Industrial, Utility, Energy and Power, and Oil and Gas.
• By Geography, North America has the largest market share because of the prominent players' current investment, particularly in the U.S., to upgrade and develop better and more efficient power grids, bolstering growth for the market. Asia Pacific is growing CAGR because of rapid industrialization and urbanization.

Recent Development

1. Mitsubishi Electric and Siemens Energy have decided to collaborate to develop clean and high-voltage power transmissions. Both companies have signed a Memorandum of Understanding (MoU) to develop modern high voltage switching solutions using Siemens Energy’s Blue Portfolio solutions. - June 2021.

2. IMEFY, one of the leading European transformer manufacturers, was selected for a contract to supply over 250 transformers to Energa, the Poland-based power grid operator. - July 2021.

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are ABB Ltd., Banmore Electricals Pvt. Ltd., CG Power and Industrial Solutions, Daihen Corp., Eaton Corp., Elsewedy Electric, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Transformers Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Transformers Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Transformers Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market