The main purpose of the transformer is to step-up or step-down the voltage in the power transmission and distribution network. Medium voltage transformers have a suitable voltage range to be used in a wide range of industries, mainly in the three phase transmission line.
End User/ Technology
The end users of medium voltage transformers include residential, commercial, industrial, and IT firms. It is widely used in manufacturing and construction plants. By using inductive coupling in winding circuits medium voltage transformers are used for energy transfer in transmission and distribution line.
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Increased manufacturing activities, expansion of IT firms, growth in the construction sector, growth in urban and rural population, need for up-gradation of old equipment, technological advancement to reduce loss in the transmission line, and favorable Govt. policies are the main drivers fueling the medium voltage transformer market to grow. On the other hand, volatile raw material prices and maintenance cost are inhibiting the development of the market.
The medium voltage transformer market can be segmented based on the rating, the cooling method, and the configuration. The segmentation based on the rating can be subdivided into four parts 1200 KVA, 1500 KVA, 2000 KVA, and 2500 KVA.
Based on the cooling method the market can be divided into two parts- oil cooled transformers and air cooled transformers. Single phase and three phase are two types of configuration available in the market. In future, three phase transformers may replace single phase due to less power loss in the three phased transformer.
The medium voltage 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, growth in manufacturing, IT & construction sector, construction of new power generating plants and up-gradation of existing plants, technological advancement, and favorable Govt. policies are creating lots of opportunity for the market. Railway electrification is one of the major factors fueling the Asia Pacific market to grow.
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Some of the major players in the market include ABB Group, Siemens AG, Kirloskar Electric Company, General Electric Company, Hitachi, Ltd., Amran Inc., Ltd., Fuji Electric Co. Ltd., CG Power & Industrial Solutions Ltd., Schneider Electric SE, Eaton Corporation PLC, RITZ Instrument Transformers GmbH, Mitsubishi Electric Corporation, Konar Distribution and Special Transformers, Inc., Fortune Electric Co., Ltd., and Hammond Power Solutions Inc.etc.
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