July 19,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Oil Filled Transformer Market.
Oil Filled Transformer Market is likely to witness an impressive CAGR of 6.2% during the forecast period. Development of effective grid systems due to increasing spending on the upgrading of electric infrastructure, initiatives to rejuvenate power grids and making them sustainable, resilient, and affordable and growing electricity demand are some of the major factors driving the market growth during the forecast period.
Oil filled transformers are transformers whose windings and magnetic circuits are absorbed in oil with good electrical insulating properties to wedge the flow of current through the oil.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the core type, the market is segmented as closed, shell, and berry. Shell oil filled transformer is projected to witness strong growth rate in the market owing to the development of HVDC networks to fulfil the continuously increasing electricity demand. Furthermore, the widespread application of shell transformers across higher power ratings and higher voltages, and their special design, that gives them innately better kVA to weight ratio, improved immunity to transit damage and healthier short circuit strength features will boost the product demand during the forecast period.
Based on the product type, the market is segmented as distribution transformer, power transformer, instrument transformer, and others. Power transformer is anticipated to be the leading segment of the market owing to the growing need for a competent transmission system to safeguard reliable power supply. In addition, optimistic leaning towards the development of high voltage lines to accommodate the surging electricity demand across developed economies will fuel the segment growth over the forecast period.
Based on the installation type, the market is segmented as outdoor and indoor. Outdoor oil filled transformers are likely to take the lead in the market on account of their ability to function at high voltage application ranges. In addition, along with offering optimum cooling strength they also mitigate the concerns relating to the dangers of fire, which boost their demand, thus driving the overall industry growth during the forecast period.
Based on the phase type, the market is segmented as three phase and single phase. Three-phase transformers are expected to be the bigger segment of the market during the forecast period owing to the advantageous regulatory policies for the upgradation of small-scale industrial sector across developing economies. Furthermore, the ability of three-phase transformers to run smoothly over voltages transmitted over long distances paired with their economic viability will further promote the product adoption.
Based on the application type, the market is segmented as residential & commercial, utility, and industrial. The utility oil filled transformers market is estimated to be the leading segment of the market given the growing R&D spending aimed at the restoration of grid infrastructure coupled with huge fund distribution by regulatory authorities for the development of grid networks, which will further promote the industry landscape.
In terms of regions, North America is estimated to be the leading region in the market owing to the ongoing technological improvements blended with amplified spending for the development of long-distance electricity networks in the US. On the other hand, Europe and the Middle East are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
- ABB Ltd
- CNC Electric Group Co., Ltd.
- Eaton Corporation plc
- Elsewedy Electric Co S.A.E.
- General Electric
- ISMET Gmbh
- Ormazabal
- Schneider Electric SE
- Siemens AG
- Toshiba Corporation.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Oil Filled Transformer Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors