According to the latest study titled ‘Asia Pacific Transformer Market Size By Core, By Product, By Insulation, By Phase, By Rating, By Mounting, By Application, Industry Analysis Report, Country Outlook, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report, Asia Pacific transformer industry is anticipated to amass considerable returns by the year 2027.
 

With rapid industrialization and urbanization, demand for electricity has snowballed, encouraging widespread adoption of renewable energy generation, which along with emphasis on amplifying transmission and distribution infrastructure is propelling the growth of Asia Pacific transformer market. In addition, federal regulations with respect to incorporation of safe, effective, and reliable electrical equipment is also acting as growth catalyst for the industry sphere.
 

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Speaking on core type, closed core transformer industry share in Asia Pacific is slated to grow decently over 2021-2027, on account of equipment’s capability to offer operational versatility, eliminate power failures, minimize flow leakages, and improve mechanical efficiency. Swift digital transformation in India and South Korea leading to deployment of smart power grid networks, both medium and small sized, is fostering the demand for closed core transformers.
 

Based on product terrain, distribution transformer segment is poised to generate substantial revenues by the end of analysis timeframe, as residential, commercial, and industrial sectors are aiming on getting efficient energy supply. Expansion of high-voltage networks for ensuring power grid stability, and supportive federal schemes for net metering and renewable energy networks will augmenting the segmental share.
 

Moving on rating, Asia Pacific transformer market share from <10 MVA segment is reckoned to multiply through 2027, owing to ever-surging energy consumption across residential and commercial sectors. Emergence of IoT-integrated units to enhance efficiency and lower electricity losses will also pose as lucrative prospect.
 

As per mounting, pole-mounted transformers are gaining substantial traction in recent times, creditable to ease of installation, compact size, and low maintenance cost. As they are mounted on poles, these units do not pose a threat to animals and humans, as well as are at lower risk from vandalism.
 

From the regional frame of reference, Australia transformer industry forecast is touted to showcase impressive growth trends over 2021-2027, cites the report. Domestic government efforts for escalating renewable energy share, and inflowing investment in power generation & distribution sector are positively swaying the business dynamics.
 

Well-known contenders influencing Asia Pacific transformer market trends are Kotsons Pvt. Ltd., Swastik Copper Pvt. Ltd., Hyundai Heavy Industries Co. Ltd., Kirloskar Electric Co. Ltd., General Electric Company, Schneider Electric SE, Toshiba Corp., Mitsubishi Electric Corp., ABB Ltd., and Siemens AG.