Harrisburg, NC -- (SBWIRE) -- 10/28/2020 -- Global Transformer Market Research Report published by market insight reports explores the current outlook in Global and key regions from the perspective of Major Players, Countries, Product types and end industries. This report analyzes top players in the Global market, and divides the Market into several parameters.

This Transformer Market research report identifies the competitive landscape of industries to understand the competition at International level. This report study describes the projected growth of the Global market for approaching years from 2019 to 2025. This research report has been aggregated on the basis of static and dynamic aspects of the businesses.

The global electricity demand is expected to reach around 38,700 terawatt-hours by 2050, around 30% higher than the consumption in 2006, which is supported by the expansion of the transmission and distribution network. This resulted in a significant demand for the T&D equipment, such as a transformer. The global power supply is undergoing a major transition, moving away from fossil fuels and shifting toward renewable energy sources. Moreover, investments in new renewable power capacity have outstripped the amount invested in fossil-based generating capacity, with most of the installation of new renewable energy capacity currently occurring in developing and emerging countries. Renewable power accounted for 60% of net additions to global power generating capacity in 2018. The strong growth in renewable energy is a result of the increasing competitiveness of wind and solar power. With the rapid integration of renewable energy sources and distributed technologies onto the grid, utilities have to upgrade their existing systems to address the challenges of maintaining power quality, balancing supply and demand in real-time, and ensure adequate distribution infrastructure capacity.

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The prominent players in the Global Transformer Market:

Siemens AG, ABB Ltd, General Electric Company, Mitsubishi Electric Corporation. and Others.

Key Market Trends: -

Distribution Transformers to Dominate the Market

- Distribution transformers (DTs) or service transformers provide the final voltage transformation in the electric power distribution system. DTs are used to step down the voltage used in the distribution lines (usually up to 36 kV) to the level used by the customer (usually 250 up to 435V).
- As a result, it is the most widely used in commercial buildings and by industrial customers, as well as electric utilities, largely in areas where electricity leaks are more costly.
- In Asia-Pacific, according to BP Statistics 2019, the total electricity generated in 2018 was 12273.6 Terawatts, while the overall consumption was less. This stems from a higher demand for distribution transformer infrastructure to bridge the gap between supply and demand.
- Increasing investments in the transmission and distribution networks in countries, such as India and China, provide a tremendous opportunity for the distribution transformer manufacturers to increase their share in the market, during the forecast period.
- Countries in the Middle-East and African region, such as Oman and Saudi Arabia, are also investing in the expansion and restructuring of distribution power grids, which increases the growth prospects of the distribution transformer market segment.

Asia-Pacific Region to Lead the Market

- The factors that contribute to the growth of the transformer market include the increasing upgradation of power and distribution infrastructure, replacement of aging equipment, and the increasing development in heavy industries and renewable energy.
- Extensive power plant capacity additions, economic growth, and the need to improve electricity access, particularly in the emerging nations of Asia-Pacific, are expected to drive grid expansion and the transformers market further.
- The robust economic growth in China reached nearly 7%, and the gross electricity consumption grew by 6.6%, exceeding 6,000 TWh, for the first time in 2017. China has witnessed high rates of demand for electricity, owing to the unprecedented growth of the economy, along with the rapid industrialization and urbanization of the region.

Significant Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Transformer Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Transformer Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth

Browse in-depth and report summary TOC on "Transformer Market":

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Finally, the Transformer market report offers a complete and detailed study of Global Transformer market by using numerous analytical tools and models such as SWOT analysis, investment return analysis, and porter's five forces analysis which are useful for beginners to access the upcoming opportunities. After exploring the market insights through primary and secondary research methodologies, if anything is required except than this, market insight reports will provide customization as per specific demands.

Note: - All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.