Integrating RE into grid will expand the demand for power transformers

 The expanding renewable integration across the power grid sector, as well as the refurbishment of T&D infrastructure, would propel the Indian power transformer market to new heights.

According to a recent study conducted by market research firm ‘Graphical Research’, the global power transformer market size is projected to register significant growth during the time frame of 2021 and 2027 as the demand for a sustainable electricity infrastructure is increasing. Since the need to have a continuous supply of electricity is growing at a tremendous rate every year, governments across the world are enforcing stringent rules and regulations. These laws are aimed at ensuring appropriate utilisation of energy sources while also urging organisations to adopt renewable sources of energy to fulfill their electricity demand.

Electricity networks are being upgraded, and innovative technologies such as AI and IoT are being used to enhance and augment the efficiency and performance levels of these systems. Concepts like digitisation of the energy infrastructure are gaining momentum in several regions across the world. Once the networks are digitised, it becomes much easier for the end-users to monitor their daily electricity consumption. Further, it can help them find effective ways of energy conservation.

Below mentioned is an in-depth insight into the regional trends that will fortify power transformer market potential over 2021-2027:

• Europe

Closed core power transformers gaining traction

Closed core power transformers will hold a major share of the European power transformer market by 2027 as urbanisation is picking up the pace. This has resulted in a hike in the demand for a strong system that offers an uninterrupted energy supply. Government reforms are becoming favourable to encourage the adoption of power transformers across the residential sector.

Moreover, the existing electricity transmission networks are being replaced with advanced ones to enhance energy saving and to closely monitor the overall electricity consumption. This will foster the use of closed core power transformers.

Increase in installation of power transformers across outdoor spaces

The regional power transformer industry size from outdoor installation will expand at a steady rate over the projected timeline of 2021-2027. Government policies are becoming strict to ensure high sustainability of grid networks and implementation of smart monitoring systems.

Power transformers when installed in outdoor spaces, have a variety of robust uses in high voltage application areas and require lesser materials. The deployment of cross-border electric networks will boost the installation of power transformers in outdoor spaces.

Less than 100 MVA rated power transformers used in real estate

Power transformers with less than 100 MVA rating will be widely used in the regional real estate sector as there is a need to refurbish the aging buildings. Since the real estate industry is growing at an appreciable rate, governments are increasing their investments to develop an advanced electric infrastructure. Commercial complexes, such as hotels, resorts, malls, and universities are being built on a large scale, thereby, increasing the installation of these transformers.

• Asia Pacific

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High adoption of shell core power transformers

Shell core power transformers are expected to hold a significant share of the Asia Pacific power transformer market by 2027. Low-voltage power circuits are being extensively installed in high-voltage networks at various critical nodes. These transformers have a compact design and are highly reliable which can be easily transported and give high electricity output, thereby augmenting their use.

Auto transformers widely used to monitor voltage rate

The regional industry size from auto power transformers will register a high CAGR through 2027. These transformers are capable of improving the voltage capacity and can decrease the core losses. They are lightweight, compact, and incur low product costs. The increasing deployment of smart and hybrid monitoring systems will bolster the use of auto transformers in the region.

Use of air-insulated transformers for sustainable power generation

Air-insulated transformers will be highly demanded by end-users across the region as they have a wide range of applications. They facilitate an efficient operation of the energy networks and offer grid sustainability by reducing the chances of internal failures.

India power transformer market will register a lucrative growth due to rising renewable integration across the power grid sector along with refurbishment of T&D infrastructure. For instance, in 2019 Government of India introduced an updated plan ‘One Nation One Grid’ to provide affordable power across all states that has led to a rise in power transformer acceptance. Moreover, ongoing developments across healthcare infrastructure followed by rapid investment toward remote transmission network will boost the market demand.

• North America

U.S. power transformer industry forecast improves

The U.S. power transformer market share is projected to amplify due to the rising need for electricity in mining, petrochemical, and cement manufacturing sectors. Government reforms formulated for the public and private companies with respect to electricity supply are becoming stringent. For example, WEG set up its fifth power generation plant in the U.S. in 2021, to increase the production of power transformers, thereby fueling their sale.

Power transformers find high deployment across indoor spaces

The regional power transformer market outlook from indoor installations will improve as the customers are increasingly demanding a reliable energy infrastructure. Cutting-edge technologies like automation are picking up the pace and captive energy sources are being extensively integrated in the industrial sector, increasing the installation of power transformers in indoor spaces.

The global power transformer market forecast will be positively impacted by the growing demand for electricity across the developed and developing regions as many countries are witnessing a robust increase in industrialisation and urbanisation.

Reputed organisations, including Hitachi Energy, Siemens, Eaton, General Electric, Toshiba, Mitsubishi Electric Corporation, and Hammond Power Solutions, among many others are producing two-winding and auto transformers, which will be widely installed across indoor and outdoor spaces. The firms are introducing various cooling and insulation methods for three-phase and single-phase transformers.

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