Global Transformer Market Trends And Strategies Of Major Players In The Transformer Market 2021-2030

29 Sep, 2021

The transformers market consists of sales of transformers and related services which are used in manufacturing of power, distribution and specialty transformers. A transformer transfers energy form one circuit to another. Transformers increase or decrease voltage and current level, increase or decrease capacitor value, prevent direct current from passing between two circuits and isolate circuits.

Global Transformer Market Size And Drivers:

The global transformer market is expected to grow from $184.21 billion in 2020 to $202.08 billion in 2021 at a compound annual growth rate (CAGR) of 9.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $266.73 billion in 2025 at a CAGR of 7%. Favourable government policies to increase electrification contributed to the growth of the transformers market in the historic period.

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Trends In The Global Transformer Market

Transformers market is moving towards evolution of independent and self-regulating smart transformers. Smart transformers are programmed to constantly regulate voltage and maintain contact with the stakeholders and provide information and feedback on the power supply. They provide the exact amount of power that is needed and respond to fluctuations through a process known as voltage optimization. They significantly reduce greenhouse gas emissions and power consumption as they supply electrical equipment with the ideal amount of power. For instance, in 2018, The US Department of Energy (DOE) invested $7.5 million to support research and development of smart transformers for grid resiliency. Companies should consider investing in technologies to produce smart transformers for commercial establishments.

Global Transformer Market Segments:
The global transformer market is further segmented –
By Transformer Type: Power Transformer, Distribution Transformer
By Type: Low Rated Transformer, High Rated Transformer
By End User: Utility, Residential & Commercial, Industry
By Geography: The global transformer market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Transformer Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides transformer market overviews, analyzes and forecasts market size and growth for the global transformer market, transformer market share, transformer market players, transformer market segments and geographies, transformer market’s leading competitors’ revenues, profiles and market shares. The transformer market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.