Transformer Market

Global Industry Analysis (2017 – 2020) – Growth Trends and Market Forecast (2021 – 2025)

$3,000.00

Quality Assured

We standby our reports on quality we promise.

Confidentiality Assured

All interactions and sensitive information remain confidential.

Custom Research Service

Undertaking exclusive research tailored for your business.

T&D Network Expansion in Line with Growing Electricity Demand Boosts Transformer Sales

The residential, and commercial establishments worldwide require a continuous, and safe flow of electricity, and the power lines carry electricity at enormously high voltages from power plants. With the global demand for electricity rising at an exploding rate, the demand for an efficient transmission and distribution (T&D) network is also on a constant rise. The electricity demand is met on the back of strong support of the rapidly expanding T&D network, thereby fuelling the demand for T&D equipment such as transformers. The global transformer market is thus witnessing steadfast progress. Undergoing a significant transition, the world of power supply is adopting a shift to renewables, as a result of which the investments flowing in to the renewable energy sector are outweighing that in the conventional power generation segment.  In line with growing integration of renewable energy sources on to the grid, and rising employment of distributed technologies, utilities ought to undergo system upgrades to maintain power quality, maintain real-time supply-demand balance, and ensure sufficient distribution infrastructure capacity.

Transformers A Vital Link between Electrical Source, and Application

If electrical energy at the power plant were just transmitted directly through those large overhead cables that cross the landscape, then as the energy travelled over distance it would be used up in the effort. To avoid line losses, and voltage drop in lines, transmission of electrical power is carried out at the maximum voltage. It makes sense to ship high-voltage electricity from the power station, and then transform it to lower voltages when it reaches its various destinations. It is also necessary to maintain terminal voltages at the terminals of the load. Voltage drops on lines should not be greater than a specified limit. According to the standard distribution system, voltage variation to load should not be greater than ±10 of rating of load. Otherwise, load does not work properly, and it may further damage load permanently.

Transformers serve importantly to step-up voltage at the generation end, and step-down voltage at the user end. Transformers at the generating power plant are used to step up the voltage to the level required to transport electrical energy over long distances. They are found again at substations along the way where the depleted power is given another step-up boost for the next leg of the journey. When the electrical energy finally reaches its destination, transformers are again used, but now to repeatedly step down the voltage until it becomes useable at homes, or workplaces. AC power systems are more practical, and thus, are more preferred over their DV counterparts.

Every Increasing Electricity Demand

The global population of 7.7 billion people is increasing by almost 90 million people per year. The electricity consumption is growing faster, average 2000 to 2019, 68 %, greater than any other form of energy consumption due to an increasing demand by the expanding global population. However, nearly 17% of the global population still does not have an access to electricity. Additionally, digitisation, electromobility, and sector-coupling will increase the electricity demand. The International Energy Agency (IEA) estimates +2.0 % increase in the global annual demand by 2040, to 40,443 billion kWh. As per BP, ExxonMobil, and the US Energy Information and Administration (EIA) forecast, it will be in a range of 34,000 to 42,000 billion kWh per year by 2040.

In 2019, the BRICS region contributed around 78% to the global increase in power consumption between 2010 and 2019. The Asian powerhouse, China remains the top electricity consumer in the world, followed by the US where the electricity usage is reported to have surged 13-fold since 1950. On the other hand, India sits third in the list as the electricity consumption in the country is expected to reach 4 trillion units by 2030, followed by Russia, and Japan. Moreover, the next electricity consumers in the world are South Korea, Canada, Brazil, Germany, France, Mexico, and the United Kingdom. The demand is seen to be particularly strong in developing economies.

The demand for transformers will continue to increase in generation capacity of both conventional, and non-renewable sources (due to increase in per capita consumption of electricity, and new avenues such as digitally connected devices, air conditioning, and electric vehicle charging stations). The demand will also increase owing to growing replacement of old transformers with their energy-efficient counterparts. Government policies, market conditions, and available technologies (low-carbon sources) also significantly contribute to the market expansion. However, overloading of transformers, tampering/bypassing the protection equipment, theft of material/oil further leading to fire and/or transformer failure remain the key challenges facing the industry.

Top Transformer Manufacturing Companies in Global Market

ABB, AL FANAR COMPANY, DAIHEN CORPORATION, Eaton Electric Holdings LLC, GE, Hyundai Heavy Industries, Jiangsu Huapeng Transformer, Kraftwerke Ilanz AG, Mitsubishi Electric, NISSIN ELECTRIC CO., LTD. Schneider Electric, Shandong Power Equipment Co., Ltd., Siemens AG, Solar Turbines, Toshiba Corporation, Kirloskar Electric Company, TAKAOKA TOKO CO. LTD., TBEA, and Xi'an XD Transformer Co., Ltd. are some of the prominent players competing in the global transformer market.

I am interested

Transformer Market

I would also like to request for

9 + 6 =

contact