Rapid urbanization coupled with rising expenditure across the infrastructure sector have fuelled the expansion of existing grid networks in the recent years. Ongoing proliferation across the electricity industry will drive the
Rapid urbanization coupled with rising expenditure across the infrastructure sector have fuelled the expansion of existing grid networks in the recent years. Ongoing proliferation across the electricity industry will drive thetransformer market size. Favourable regulatory reforms in line with the refurbishment of electrical infrastructure across developed economies have integrated a commendatory business scenario.
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Large scale renewable capacity addition coupled with favourable policies pertaining to expansion of micro-grid networks will foster the transformer market share. The industry has witnessed sheer growth towards the deployment of sustainable energy subject to the renewable targets abided by nations during the UN Climate Change Conference in 2015. Government aided policies and incentives including leveraging schemes, and feed-in-tariffs will further augment the adoption of renewable technologies. In 2015, regulators across China availed subsidies worth USD 0.07/kWh toward the deployment of rooftop and USD 0.14/kWh for ground mounted PV systems.
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Sustainable mechanical strength, and low flux leakage & iron losses will fuel the closed core transformer market. Diversified applications across low & medium voltage establishments coupled with ongoing technological enhancements to cater across operational flexibility will embellish the product demand. Rapid urbanization along with ongoing reforms toward rural electrification across developing regions of Asia Pacific and Africa will further complement the industry growth.
Power transformer market in 2016, was valued over USD 20 billion. Ongoing expansion of manufacturing facilities subject to implication of economies of scale by large manufacturers across the globe considerably drive the industry share. Favourable inclination towards the expansion of HVAC networks to cater the energy demand across industries coupled with ongoing deployment of utility based HVDC infrastructure will substantially reinforce the business scenario.
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Auto transformer market share in the coming years is set grow on account of effective operational flexibility and voltage regulation capabilities associated with the units. Higher efficiency, product compactness, and lower cost when compared to conventional technologies are few indispensable parameters evaluated to validate the product penetration. Growing awareness in line with energy efficiency coupled with diversified product applications will appreciably fuel the industry outlook.
Indoor transformer market is projected to reach over 60 ‘000 units by 2024. Rising space constraints coupled with increasing demand for refurbishment of existing transmission & distribution networks will positively influence the business landscape. Flourishing real estate sector subject to rising private and public investments will further augment the industry growth. In 2017, the European Commission allocated funds worth USD 36.3 billion to ascertain effective infrastructural expansion across Russia.
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Notable participants in the industry include ABB, Siemens, General Electric, EATON, Crompton Greaves, Schneider Electric, Hyundai Electric, Mitsubishi Electric, Toshiba Corp., BHEL, Hyosung, Kirloskar, Daihen, Ormazabal, SPX Transformer, Celme, and Ruhstrat.
Volume manufacturing practices accompanied by extensive R&D investments toward the development of smart and effective systems have been the primary strategic implication by the key market participants.
The U.S. transformer market in 2016, was valued over USD 4 Billion owing to increasing refurbishment demand of existing grid infrastructure. Deployment of reliable grid support mechanism along with ongoing technological advancements will stimulate the industry growth. Rising investment towards infrastructural development including expansion of railway networks across the nation will further embellish the business scenario.
Electrical transformer is a static device installed to transform electrical energy across the primary and secondary circuits with mutual induction being the operating principle. The basic function includes transfer of power from one circuit to another with negligible variation across the potential difference or the power frequency. The technology can further be segmented based on step-up and step-down units. The prime attribute of these systems is to either increase the potential difference across two adjoining circuits or vice-versa.
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