DUBLIN--(BUSINESS WIRE )--The "Medium Power Transformers Global Market Report 2022, By Cooling Method, By Mounting, By End User" report has been added to ResearchAndMarkets.com's offering.
The global medium power transformers market is expected to grow from $33.82 billion in 2021 to $41.86 billion in 2022 at a compound annual growth rate (CAGR) of 23.8%. The market is expected to reach $90.17 billion in 2026 at a CAGR of 21.1%.
Major players in the medium power transformers market are Siemens AG, ABB Group, General Electric Company, Fuji Electric Co. Ltd., Hitachi, Ltd., Schneider Electric SE, Eaton Corporation PLC, Mitsubishi Electric Corporation, and Japan International USA Ltd.
The medium power transformers market consists of sales of medium power transformers. Medium power transformers are used in lowering voltages to the level required and are eligible for voltage regulations. These types of transformers are mostly used in the manufacturing and construction industries. Medium power transformers manufacturing establishments manufacture power transformers with ratings of 501 MVA to 800 MVA.
The main types in the medium power transformers market are oil-cooled and air-cooled. Oil cooled market in medium power transformers refers to the cooling method that is used to improve the cooling of the power transformers. The various mounting techniques are pad, pole, PC/PCB, and others. These are used in residential, commercial, and industrial segments.
Asia Pacific is the largest region in the medium power transformers market in 2021. Western Europe is the second-largest region in the medium power transformers market. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Favorable government policies to increase electrification contributed to the growth of the market in the historic period. Countries around the world are implementing several initiatives to increase electrification across the countries. For example, the government of India launched the 'Pradhan Mantri Sahaj Bijli Har Ghar Yojana' to achieve 100% electrification in the country. In 2019, the Indian government launched the 'One Nation One Grid', an initiative aimed at offering affordable power to all the states. These initiatives increased the market for medium power transformers in the historic period.
Volatility in prices of several raw materials such as steel and copper restrained the market for medium power transformers in the historic period. Steel and copper are predominantly used in the manufacture of transformers. Increased tariffs on raw materials such as steel and copper, increased the volatility of prices, thereby limiting the growth of the market for medium power transformers. For instance, the USA imposed 25% and 10% tariffs on the import of steel and aluminum respectively.
The transformer manufacturing 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 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, the US Department of Energy (DOE) invested $7.5 million to support the research and development of smart transformers for grid resiliency. Companies should consider investing in technologies to produce smart transformers for commercial establishments.
2. Medium Power Transformers Market Characteristics
3. Medium Power Transformers Market Size And Growth
3.1. Global Medium Power Transformers Historic Market, 2015 - 2019, $ Billion
3.2. Global Medium Power Transformers Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
4. Medium Power Transformers Market Segmentation
4.1. Global Medium Power Transformers Market, Segmentation By Cooling Method, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Medium Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.3. Global Medium Power Transformers Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Medium Power Transformers Market Regional And Country Analysis
5.1. Global Medium Power Transformers Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Medium Power Transformers Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900