Market.us announces publication of its most recently generated research report titled, “Global Transformers Market by Product (Power Transformer, Distribution Transformer, Instrument Transformer and others), By Application (Power Industry, Metallurgy Industry, Petrochemicals Industry, Urban Construction, and others), and by Region – Global Forecast to 2028.”, Which offers a holistic view of the global Transformers market through systematic segmentation that covers every aspect of the target market.

The global Transformers market is projected to be US$ 30,387.2 Mn in 2018 to reach US$ 60,713.2 Mn by 2028 at a CAGR of 7.2%.

Transforms are the electric devices that can transfers the electrical energy from one AC circuit to one or more circuits. Transformers are static electric devices that can be used for either stepping-up or stepping-down the voltage. Voltage change in the transformers can be done by electromagnetic induction. Global transformers market is expected to see high growth in the forecast period due to the increase in the development of rural areas, industrialization, and opening new generation plants. Increasing government capital expenditure in the power sector, high transmission investments and increasing global energy consumption are some of the other factors that have helped the market to grow with a rapid pace. Due to the increased power generation in emerging nations as well as developed economies, the market is anticipated to see high growth in the forecast period.

Key drivers for future transformer market development include an increase in electricity demand in developing countries, a boost for high-voltage power transformers, replacement of old electric power equipment in matured economies, and capital expenditure in the power sector worldwide. Also, the adoption of energy-efficiency standards in developed markets, such as Europe and the United States, as well as in emerging markets, such as China and India, are expected to create a demand for new, more efficient electrical equipment, including power transformers.

Global Transformers Market Revenue (US$ Mn), 2018–2028 

Increase in the electricity demand in the emerging nations, along with growth in the power industry is expected to drive growth in the transformer industry. Also, growing industrialization and commercial development drive growth in the transformer market.

however, higher competition from Chinese manufacturers and saturated market of transformers in European countries is expected to hamper the growth of the global transformers market

Global transformers market is segmented on the basis on product, application and region. On the basis of product, the market is segmented into power transformer, distribution transformer, instrument transformer and others. The power transformer segment accounts for the majority share in the global transformers market, while the distribution is expected to register the highest growth rate over the forecast period. On the basis of application, the market is segmented into the power industry, metallurgy industry, petrochemicals industry, urban construction, and others. The power industry accounts for a majority share in the global Transformers market.

Global Transformers Market by Application, 2018

On the basis of region, the market is segmented into the United States, Europe, China, India, Japan and Southeast Asia. China accounts for the majority share in the global Transformers market, followed by the United States. Emerging economies, such as China and India, are expected to register the highest growth rate over the forecast period. Countries and regions such as Japan, South America and the rest of the world are expected to register stable growth over the forecast period.

The research report on the global Transformers market includes profiles of some of major companies such as ABB Ltd., Siemens Aktiengesellschaft, Toshiba Corporation, Hitachi, Ltd., Fuji Electric Co., Ltd, Mitsubishi Electric Corporation, Hyosung Corporation, General Electric Company, CG Power and Industrial, SGB-SMIT Holding, Efacec Power Solutions, S.G.P.S., SA, JiangSu HuaPeng Transformer and other key players.

Key Market Segments:

Type

• Power Transformer
• Distribution Transformer
• Instrument Transformer

Application

• Power Industry
• Metallurgy Industry
• Petrochemicals Industry
• Urban Construction

Key Market Players included in the report:

• ABB Ltd.
• Siemens Aktiengesellschaft
• Toshiba Corporation
• Hitachi Ltd.
• Fuji Electric Co. Ltd.
• Mitsubishi Electric Corporation
• Hyosung Corporation
• General Electric Company
• CG Power and Industrial
• SGB-SMIT Holding
• Efacec Power Solutions
• S.G.P.S.
• SA
• JiangSu HuaPeng Transformer

For the Transformers Market research study, the following years have been considered to estimate the market size: