Medium power transformers market comprises of sales of medium power transformers. Medium powers transformers are utilized in lowering voltages to the level required and are adequate for voltage regulations. These types of transformers are generally used in the construction and manufacturing industries. These medium power transformers manufacturing establishments manufacture the power transformers with ratings of 501 MVA to 800 MVA.
According to study, “Medium Power Transformers Global Market Report 2020-30: Covid 19 Impact and Recovery” the key companies operating in the global medium power transformers market are Fuji Electric Co. Ltd., Hitachi, Ltd., Siemens AG, General Electric Company, Schneider Electric SE, Jinpan International USA Ltd., Eaton Corporation PLC, Mitsubishi Electric Corporation, CG Power & Industrial Solutions Ltd., Kirloskar Electric Company, Fortune Electric Co., Ltd., Koncar Distribution and Special Transformers, Inc., Amran Inc., Hammond Power Solutions Inc., RITZ Instrument Transformers GmbH, MGM Transformer Company, Schaffner Holding AG, Emerson Electric Co., Tianan Electric Group Co., Ltd., SMA Solar Technology AG, RECO Transformer Pvt. Ltd. Key companies are developing advanced technologies & launching novel products in order to stay competitive in the market. Other competitive strategies are mergers & acquisitions (M&A) and new product developments.
Based on type, medium power transformers market is segmented as dry-type transformers and liquid filled transformers. Dry-type medium power transformer segment holds major share in global market as they are generally lighter, smaller, and easier to maintain that requires only occasional cleaning & inspection. Based on mounting, market is segmented as pole-mounted transformers and pad-mounted transformers. Based on rating, market is segmented as 1,200 kVA, 1,500 kVA, 2,000 kVA and 2,500 kVA. Based on phase, market is segmented as single phase transformers and three phase transformers. In addition, based on application, market is segmented as industrial, building establishments, civic infrastructure (stations, railways, institutional and airports), IT data & server centers and others.
The medium power transformers market is driven by implementing several initiatives to increase electrification, followed by increase in transmission infrastructure investments and favorable government policies to increase electrification. However, volatility in prices of several raw materials such as copper and steel may impact the market.
Based on geography, the Asian-Pacific region holds major share in global medium power transformers market owing to increase in government investments on electricity production in the region. As the population of Asian-Pacific region is growing rapidly, the region is anticipated to create higher demand for electricity. Therefore, various governments are planning to enhance the capacities of their power generation plants. Capacity expansion of these power plants will direct to high demand for medium voltage transformers for transmission & distribution, which, in turn, will drive this regional market growth. The North-American and European regions are anticipated to witness higher growth rate due to increase in investments in research & development (R&D) for transformer products over the forecast period. In 2019, the worldwide medium power transformers market was valued at US $77.37 billion and it is likely to grow at a compound annual growth rate (CAGR) of 8.28% and reach US $106.33 billion by 2023.
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Ankur Gupta, Head Marketing & Communications