As per this study the Global Electrical Transformer Market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2027 with a CAGR of XX%. By volume, the market was estimated XX Unit in 2019 and is expected to reach XX Unit by 2026 with a CAGR of XX%.
An electrical transformer is referred to as the static device that transfers electric energy from one circuit to another by means of electromagnetic induction. The transformer comprises primary winding, secondary winding, and a magnetic core. Basically, it transforms the energy without changing its frequency but by differing voltage level in various electric power applications.
The market is witnessing tremendous push owing to increases in spending by governments towards enhancing power infrastructure. Growing global demand for electricity along with robust urbanization and industrialization are fueling the market growth. Also, increasing penetration of electrical appliance to offer ease and to enhance productivity is contributing immensely in market growth. Moreover, ongoing modernization of pre-existing power grids especially in developed nations is boosting the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis, and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of an electrical transformer.
The broad electrical transformer market has been sub-grouped into power rating, cooling type and transformer type. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Power Rating
By Cooling Type
- Small Power
- Medium Power
- Large Power
By Transformer Type
- Oil-Cooled Type
- Air-Cooled Type
- Power Transformer
- Distribution Transformer
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for electrical transformer in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Electrical Transformer Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the electrical transformer market include ABB Ltd., Bharat Heavy Electricals Limited, Crompton Greaves Limited, General Electric Company, Hyosung Group, Hyundai Heavy Industries Co. Ltd., Mitsubishi Electric Corporation, Schneider Electric, Siemens AG, SPX Transformer Solutions, Inc., and Toshiba Corporation among others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.