Transformer market transforming trends

The demand for transformers is on the rise, powered by their primary function of transferring energy between different voltage levels and reducing or eliminating transmission losses. They are mainly devices that transfer electric energy from one circuit to another. The rising focus on modifications, material selection for the core or winding, as well as the degree and type of insulating materials for improved transformer efficiency, will drive their installation in the forthcoming years.

The size of the transformer industry is also growing due to the higher need for short-haul solutions that have broad applicability across utility establishments and industries. For example, to function properly, the steel manufacturing industries require a consistent and dependable source of light. The transformer is what assists the industry in the electricity and thermal sectors for the manufacture of steel.

Similarly, transformers are used in the production of air conditioners. This can be attributed to their ability to contribute to the conditioner’s proper operation due to their high inductance and low resistance levels.

Listed below are the top-most prominent factors that will help proliferate the transformer market trends:

Huge demand for distribution transformers for efficient energy utilisation

According to a report published by “Global Market Insights,” With the growing use of electricity around the world, the need for energy efficiency is becoming more important. To that end, electrification projects and infrastructural progress have created multiple growth opportunities for transformer industry contenders. In this regard, distribution transformers are recording a higher application scope to help with energy efficiency in the residential space, such as pumping stations, separate houses, and farmyards.

Extensive use for industrial and manufacturing machines

Global economic expansion has resulted in massive industrialisation in both developed and developing countries. In effect, a significant proportion of the electricity used in commercial and industrial facilities is routed through distribution transformers on the consumer end of the meter. As large machinery and equipment are inherent in the industrial sector, transformers have gained immense traction to provide high voltage. They are used in a diverse array of appliances, ranging from substations and power plants to the aerospace, biochemical, manufacturing, and telecommunication industries.

For instance, in the automotive market, customised smart transformers are now being designed to charge the batteries of multiple electric vehicles at the same time and monitor voltage levels while saving money.

Growing number of renewable energy projects in Asia

The rapidly developing countries in APAC, such as China and India, are focusing on working with renewable energy sources. In this regard, high-voltage transformers are used on a large scale. Furthermore, the demand for transformers for residential and commercial uses is growing as government policies and initiatives are actively implemented to adapt energy-efficient and conservative solutions. To illustrate, in 2021, Siemens Energy installed 22 distribution transformers at 66 kilovolts for Yuhuan Offshore Wind Power Project Phase 1 (300 MW) in Southeastern China to supply energy to consumers in the Yangtze River Delta region.

In essence, the importance of transformers is profoundly growing to limit electricity challenges in homes and industries. The increasing number of product manufacturing companies and massive investments in new technologies will have a profound impact on the global transformer market.