The global transformers market reached a value of nearly $202.7 billion in 2019. Asia Pacific was the largest region in the transformers market in 2019.
The transformers market consists of sales of transformers and related services that are used in manufacturing of power, distribution, and specialty transformers. A transformer transfers energy from 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.
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Transformers Market Size
The global transformers market is expected to grow at a rate of about 8.76% to nearly $283.6 billion by 2023. Favorable government policies to increase electrification contributed to the growth of the transformers market in the historic period. Countries around the world are implementing several initiatives to increase electrification across the countries. The increasing demand for medium, low, and high-power transformers supported by favorable government initiatives positively impacts the growth of transformers market.
However, instability in pricing of raw materials is a major restraint in the transformers manufacturing market. The instability is due to the volatility in the raw material prices of steel, copper, and crude oil.
The transformers market is moving towards the evolution of independent and self-regulating smart transformers. Smart transformers are programmed to constantly regulate voltage and maintain contact with stakeholders, providing 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.
Major players in the market are ABB, General Electric Corporation, Schneider Electric S.A., Mitsubishi Electric Corporation, Schneider Electric, Mitsubishi Electrics, Toshiba Corporation, Siemens, SGB-SMIT, and Hammond Power Solutions.
Toshiba Corporation is a Japanese multinational conglomerate headquartered in Tokyo, Japan. Its diversified products and services include information technology and communications equipment and systems, electronic components and materials, power systems, industrial and social infrastructure systems, consumer electronics, home appliances, medical equipment, office equipment, as well as lighting and logistics.
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Few Points From Table of Contents:
1. Executive Summary
2. Transformers Market Characteristics
3. Transformers Market Size And Growth
3.1. Global Transformers Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Transformers Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Transformers Market Segmentation
4.1. Global Transformers Market, Segmentation By Transformer Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Power Transformer
Distribution Transformer
4.2. Global Transformers Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Low rated transformer
High rated transformer
5. Transformers Market Regional And Country Analysis
5.1. Global Transformers Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Transformers Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
6. Asia-Pacific Transformers Market
6.1. Asia-Pacific Transformers Market Overview
6.2. Asia-Pacific Transformers Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
7. China Transformers Market
7.1. China Transformers Market Overview
7.2. China Transformers Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,$ Billion
8. India Transformers Market
8.1. India Transformers Market Overview
8.2. India Transformers Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
9. Japan Transformers Market
9.1. Japan Transformers Market Overview
9.2. Japan Transformers Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
10. Australia Transformers Market
10.1. Australia Transformers Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
11. Indonesia Transformers Market
11.1. Indonesia Transformers Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
12. South Korea Transformers Market
12.1. South Korea Transformers Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
13. Western Europe Transformers Market
13.1. Western Europe Transformers Market Overview
13.2. Western Europe Transformers Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
14. UK Transformers Market
14.1. UK Transformers Market Overview
14.2. UK Transformers Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
15. Germany Transformers Market
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