February 28, 2020
According to the research report titled ‘Asia Pacific Power Transformer Market Share By Application, Installation, Cooling, Winding, Insulation, Phase, Rating, Mounting, Industry Analysis Report, Country Outlook, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available at MarketStudyReport.com, Asia Pacific power transformer market is set to acquire commendable gains by the year 2026.
According to the report, Asia Pacific power transformer market is projected to observe considerable growth on account of stringent government policies supporting the adoption of renewable energy technologies and endorsing low carbon emissions. Transformers are increasingly being advanced owing to the continuous technological innovations. Increasing inclination towards renewable integration across power grid networks, which will provide spiraling growth to Asia Pacific power transformer market size.
Short circuit reliability, ease in transportation, and compact design are anticipated to have a positive impact on the adoption of shell-type power transformers. These power transformers are capable of sustaining intense operating conditions in line with robust implementation across key nodes in HV transmission networks. Also, enhanced control over leakage magnetic flux, and high di-electric, mechanical, and thermal performance are likely to play a major role in spurring Asia Pacific power transformer industry growth.
Governments are endeavoring to develop existing transmission and distribution networks to cater to the rising energy demand. Escalating urbanization, burgeoning electrification rates, and rising government subsidies have enhanced the deployment of new transmission networks, which will improve Asia Pacific power transformer market trends. For example, ADB sanctioned an investment of $300 million for advancement of transmission lines and towers across Bangladesh in the year 2019.
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Speaking of Asia Pacific power transformer by rating, 100 MVA-500 MVA segment is anticipated to witness substantial growth due to its compact design, and intensifying demand across healthcare, power, and oil & gas industries. These units are extensively being deployed across substations, distribution, and generating stations for transforming electrical energy to HV energy. Also, massive amounts are being spent on smart infrastructure to serve energy demand and retrofitting & revamping of established transformers.
Some of the major Asia Pacific power transformer market players are ABB, Siemens AG, BHEL, Schneider, Toshiba, Kirloskar Electric, Voltamp, Hammond Power Solutions, Hyundai Heavy Industries, Crompton Greaves, Hyosung, and General Electric. Industry players are facing a high degree of competition from their peers and developing advanced technologies to gain a competitive advantage.
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