According to a new report, published by KBV research, The Global Oil Immersed Power Transformer Market size is expected to reach $31.5 billion by 2030, rising at a market growth of 6.1% CAGR during the forecast period.
The Three segment generated the highest revenue in the Global Oil Immersed Power Transformer Market by Phase in 2022; thereby, achieving a market value of $20.8 Billion by 2030. Three-phase transformers are known for their efficiency in power transmission. They facilitate the transfer of electrical energy over long distances with minimal energy loss, making them integral to high-voltage transmission networks. The efficiency of three-phase systems contributes to cost-effectiveness and reduced environmental impact. These aspects will fuel the demand in the segment.
The Pad-mounted segment is registering a CAGR of 5.6 % during the forecast period. Pad-mounted transformers are installed at ground level, eliminating the need for dedicated transformer rooms or vaults. This space-efficient design is particularly advantageous in areas with scarce or expensive land. Additionally, the pad-mounted transformers are often designed to blend with the surroundings, addressing aesthetic concerns in urban landscapes. Thus, these factors will boost the demand in the segment.
The High segment led the Global Oil Immersed Power Transformer Market by Voltage in 2022; thereby, achieving a market value of $15.6 Billion by 2030. Governments and utilities worldwide are investing in expanding and upgrading power grids to improve energy access, reliability, and efficiency. High voltage transformers are critical in such projects, supporting power transmission across extensive networks. As a result, the segment will expand rapidly in the coming years.
The Utilities segment is growing at a CAGR of 5.8 % during the forecast period. Utilities are investing in expanding and modernizing their electrical grids to enhance reliability, efficiency, and adaptability. This includes the integration of advanced transformers that can support higher voltage levels, accommodate renewable energy sources, and contribute to the development of smart grids. Oil-immersed transformers are key components in these grid modernization initiatives. Therefore, these factors will assist in the expansion of the segment.
Full Report: https://www.kbvresearch.com/oil-immersed-power-transformer-market/
The Asia Pacific region dominated the Global Oil Immersed Power Transformer Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $11.6 Billion by 2030. The Europe region is anticipated to grow at a CAGR of 5.7% during (2023 - 2030). Additionally, The North America region would witness a CAGR of 5.9% during (2023 - 2030).
By Phase
By Installation
By Voltage
By End User
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