“Power Transformers Market” Research Report Provides Detailed Historical Analysis of Global market for Power Transformers from 2018-2024, and provides Extensive Market Forecasts From 2024-2032 By Types (Below 500 MVA, Above 500MVA Applications (Power Companies, Industrial Companies), and By Regional Outlook. The report presents the research and analysis provided within the Power Transformers Market Research is meant to benefit stakeholders, vendors, and other participants in the industry. The Power Transformers market is expected to grow annually by magnificent (CAGR 2024 – 2032).
Short Description About Power Transformers Market:
The Global Power Transformers market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2032. In 2022, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
The global Power Transformers market size was valued at USD Million in 2022 and will reach USD Million in 2028, with a CAGR of Percent during 2022-2028.
A power transformer is a passive electromagnetic device that transfers energy from one circuit to another circuit, or multiple circuits. Power transformers are used to transmit electrical power between generators and distribution primary circuits, increase or decrease the voltage in distribution networks, and are widely used in industry, commerce, and other fields.
The epidemic has affected the Brazilian power transformer industry. First of all, the impact on the upstream is the increase in the price of raw materials and the shortage of supply. Affected by the COVID-19 epidemic, production in some areas was interrupted, logistics was blocked, and the supply of commodities was in short supply. The prices of bulk commodities rose as a whole, and inflation was high. Secondly, the epidemic has affected the production and transportation of midstream power transformer manufacturers. Affected by the epidemic, some areas have stopped work and production, workers have been isolated at home, labor shortages, and labor costs have risen. At the same time, due to poor logistics and lagging transportation, freight rates have risen. Finally, the normal operation of downstream industries will be affected, industrial and commercial electricity consumption will decline, and short-term demand will be affected. In the long run, with the recovery of the economy, the development of downstream industries, and the implementation of the economic stimulus plan, demand is expected to rise.
1 Drivers
1.1 The development of Brazil’s power industry promotes the power transformer industry.
Brazil has a well-developed electricity sector, and Brazil is the largest electricity market in Latin America with a capacity of 181 GW at the end of 2021. At the end of 2021 Brazil was the 2nd country in the world in terms of installed hydroelectric power (109.4 GW) and biomass (15.8 GW), the 7th country in the world in terms of installed wind power (21.1 GW) and the 14th country in the world in terms of installed solar power (13.0 GW). Brazil produces and distributes electricity to more than 85 million residential, commercial and industrial consumers, more than all other South American countries combined.
1.2 Development of renewable energy brings growth potential to Brazil’s power transformer industry.
Brazil’s electricity matrix is one of the cleanest in the world, and Brazil is committed to continuing to support renewable energy projects and is expected to continue investing in wind, solar and hydroelectric capacity.
2 Limitations
2.1 Relatively high capital and technical barriers.
The power transformer industry is a technology-intensive industry. With the advancement of technology and the trend of promoting the intelligentization of power grids, the technical requirements for power transmission and distribution equipment have increased. In the future, power transmission and distribution equipment will be customized products that use advanced computer technology, power electronics technology, mechanical design and many other high and new technologies to integrate information digitization and adjustment intelligence. At the same time, with the deepening of the concept of energy saving and consumption reduction, the market’s requirements for energy saving and environmental protection of products will be further improved. Power transmission, distribution and control equipment requires strong professional knowledge reserves and industry practice accumulation, and the technological competition in the industry also has high requirements on the innovation of R&D personnel. These have formed high technical barriers for new entrants to the industry.
Segmentation Overview:
Power transformers are usually classified by MVA rating, this report is divided into below 500MVA and above 500MVA. The MVA rating of transformer is determined by its total deliverable apparent power, wherein it is equal to the product of primary current and primary voltage.
Application Overview:
Power transformers are electrical instruments used to transfer electricity from one circuit to another, they work according to the principle of electromagnetic induction, they are used to transfer electricity between the generator and the primary circuit of the distribution, power transformers are used to increase or decrease the distribution of electricity voltage in the network. When transferring large amounts of electricity over long distances, power transformers are critical for minimizing large amounts of energy loss by converting it to high-voltage current and then stepping it down to a safer low-voltage current. They are commonly found in power companies, industrial companies.
The Power Transformers market report covers sufficient and comprehensive data on market introduction, segmentations, status and trends, opportunities and challenges, industry chain, competitive analysis, company profiles, and trade statistics, etc. It provides in-depth and all-scale analysis of each segment of types, applications, players, 5 major regions and sub-division of major countries, and sometimes end user, channel, technology, as well as other information individually tailored before order confirmation.
Get a Sample Copy of the Power Transformers Report 2024
What are the factors driving the growth of the Power Transformers Market?
Growing demand for below applications around the world has had a direct impact on the growth of the Power Transformers
Power Companies
Industrial Companies
What are the types of Power Transformers available in the Market?
Based on Product Types the Market is categorized into Below types that held the largest Power Transformers market share In 2024.
Below 500 MVA
Above 500 MVA
Which regions are leading the Power Transformers Market?
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Post time: Jun-18-2024