The main purpose of the transformer is to step-up or step-down the voltage in the power transmission and distribution network. Power transformers are installed at each and every substation of a distribution network. The market for large power transformer is in a growth stage on account continuous demand for energy across the globe.
End User/ Technology
Starting from power generating plant to the last substation in the distribution network will consist of at least one power transformer. A power transformer is used to transfer electrical energy from one circuit to another without changing the frequency. Large power transformers are designed for maximum efficiency to minimize the loss in the transmission and distribution network.
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Increasing demand for energy, need for up-gradation of power generating plants, technological advancement to reduce loss in the transmission line, and favorable Govt. policies are the main drivers fueling the large power transformer market to grow. Shifting trend towards clean and green energy is also helping the growth of the market as large power transformers are more environment-friendly and responsible for lower emission.
The large power transformer market can be segmented based on the rating and the cooling method. The segmentation based on rating can be subdivided into three parts- 100 MVA to 500 MVA, 501 MVA to 800 MVA and 801 MVA to 1200 MVA. Based on the cooling method the market can be divided into two parts- oil cooled transformers and air cooled transformers.
The large power transformer market can be regionally segmented into five parts Europe, North America, South America, the Asia Pacific and Middle East & Africa. The Asia Pacific is the current market leader mainly due to continuous extension of transmission and distribution network in India and China.
The Asia Pacific is expected to grow at the highest CAGR in near future due to its consistent demand for energy. Rapid urbanization, improvement in the standard of living, and development in commercial and industrial infrastructure will be fueling the market for next few years.
Increasing demand for electricity especially in the developing countries, need for reduction of power loss in transmission, construction of new power generating plants and up-gradation of existing plants, technological advancement, global initiatives to use more renewable and non-conventional energy sources and favorable Govt. policies are creating lots of opportunity for the market. Industry experts are preferring large power transformers because of its lower rate of emission.
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Some of the major players in the market include ALTRAFO, DuPont, ELANTAS, Eremu, Fuji Electric, Hammond Power Solutions, Eaton, Hyundai Heavy Industries, Toshiba, Jinpan International, Hyosung Power & Industrial Systems Performance Group, KOTSONS, J. Schneider Elektrotechnik, Layer Electronics, LS Industrial Systems, Kirloskar Electric, SPX Transformer Solutions, and Mace etc.
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