The low power transformers market comprises of sales of low power transformers. Low power transformer is the fixed device that operates on the principles of mutual induction to transform the power from one circuit to another circuit without changing the frequency. Low power transformer manufacturing establishments’ manufactures power transformers with the ratings of 100 MVA to 500 MVA. They are also used for adjusting the voltage from range of 690 V to 400 V or as isolation transformers with the voltage ratio of 1:1 that provide galvanic separation.
Some of the key features are non-flammable and non-explosive, low losses, air cooling based on natural convection (AN), low weight and compact dimensions, IP23 enclosures (optional) and optional with forced air cooling (AF) etc.
According to study, “Low Power Transformers Global Market Report 2020-30: Covid 19 Impact and Recovery” the key companies operating in the global low power transformers are CG Power and Industrial Solutions Ltd., Bharat Heavy Electricals Ltd., EMCO Ltd., Kirloskar Electric Co. Ltd., Schneider Electric SE, TBEA Co. Ltd., General Electric Company, Hitachi Ltd., Siemens AG, and Toshiba Corporation. Key companies are focused on mergers & acquisitions (M&A), in order to improve the market presence. Leading market players are involved in partnerships & collaborations, in order to gain a competitive edge in the market.
Based on product type, low power transformers market is segmented as solid-core and split-core. In addition, based on application, market is segmented as factory, power plants and others.
The low power transformers market is driven by rapid growth in emerging markets. Emerging market growth was aided by stable political environment, rise in disposable income and increase in foreign investments. However, complexity in design & construction of power transformers and raw material cost many impact the market. Moreover, increase in use of renewable & non-conventional energy sources is a key opportunity for market.
The transformer manufacturing market is moving towards the advancement of independent & self-regulating smart transformers, which are programmed to constantly regulate the voltage and maintain contact with stakeholders that provide information & feedback on the power supply. They provide the precise amount of power that is needed & respond to fluctuations through a process, which is known as voltage optimization. They considerably reduce the greenhouse gas emissions and power consumption because they supply electrical equipment with the idyllic amount of power. Additionally, companies should consider investing in technologies to produce the smart transformers for commercial establishments.
Based on geography, the global low power transformers market is segmented as South America, North America, Asia-Pacific, Eastern Europe, Western Europe and Middle East and Africa. The Asian-Pacific region holds major share in global market owing to increase in government efforts to expand existing power infrastructure to meet the rising demand for electricity in the region. The North-American and European regions are anticipated to witness higher growth rate due to growth in urbanization & industrialization over the forecast period. The global low power transformers market was valued at US $93.6 billion in 2019 and it is predicted to grow at a higher compound annual growth rate (CAGR) of 9.61% and reach US $135.1 billion by 2023.
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Ankur Gupta, Head Marketing & Communications