According to a new report, published by KBV research, The Global Power Transformer Market size is expected to reach $33.7 billion by 2028, rising at a market growth of 6.8% CAGR during the forecast period.
The Gas segment is showcasing a CAGR of 7.1% during (2022 - 2028). The wide application range of gas-insulated power transformers over substations in restricted areas will drive the revenue of this segment. These units could operate at high temperatures and could be quickly and easily combined with gas-insulated switchgear while reducing the threat of fire and environmental hazards.
The Industrial segment acquired maximum revenue share in the Global Power Transformer Market by Application in 2021 thereby, achieving a market value of $14.7 billion by 2028. Power transformers in the industrial segment ensure security, risk-free, and appropriate electricity utilization in businesses. The development of power transformers in the industrial segment is related to the arrival of smart transformers offering competition to the market players.
The 100 MVA to 500 MVA segment is generating highest revenue share in the Global Power Transformer Market by Rating in 2021 thereby, achieving a market value of $21.6 billion by 2028. The 100 MVA to 500 MVA transformers are utilized in various fields, from powering a vehicle motor to industrial usage. The increasing demand for electricity because of worldwide urbanization and industrialization is increasing the demand for power transformers with a scale of 100 MVA to 500 MVA. In addition, designs and technological improvements are adding more to the increasing utilization of these transformers.
The Single segment has shown the growth rate of 8% during (2022 - 2028). The single-phase transformers comprise a pair of coils arranged in the core and produce a single alternate voltage depicted by a single sine wave. These transformers have simple construction and are utilized for both commercial and residential purposes. In addition, they are more preferred in rural regions with less electrical power demand, making these transformers the most cost-effective alternative.
The Shell segment is leading the Global Power Transformer Market by Core in 2021 thereby, achieving a market value of $13.9 billion by 2028. The shell core is often used in low-voltage and electronic circuits. The transformer’s features are rectangular or square cross-sectional cores, which makes them cheap. Therefore, they are also used to optimize the price of a circuit. In addition, the shell core provides several benefits including design flexibility, efficient cooling system, high short circuit strength, efficient control of leakage magnetic flux, and high seismic withstanding ability.
The Asia Pacific market dominated the Global Power Transformer Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $13.6 billion by 2028. The Europe market is exhibiting a CAGR of 6.5% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 6.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/power-transformer-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Toshiba Corporation, ABB Group, General Electric Company, Siemens Energy AG, Alstom SA, Mitsubishi Electric Corporation, Hyosung Heavy Industries Corporation, CG Power & Industrial Solutions Ltd. (Murugappa Group), Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.), and Bharat Heavy Electricals Ltd.
By Insulation
By Application
By Rating
By Phase
By Core
By Geography
Companies Profiled
Unique Offerings 
