According to the recently published report titled “Medium Voltage Transformers Market: Global Industry Analysis (2012 –2016) and Opportunity Assessment (2017 – 2027)” that tracks the performance of the global medium voltage transformers market for a period of 10 years between 2017 and 2027, the market is expected to expand at a value CAGR of 4.5% over the forecast period (2017–2027). It is expected that the market will reach a value of US$ 14,805.7 Mn by 2027 end. In terms of volume, the market is expected to increase at a CAGR of 3.4% over the forecast period and account for the sales of 899,241 units by 2027 end. Growing industrialisation coupled with increasing demand from the construction sector across the globe is estimated to drive the growth of the global medium voltage transformers market over the forecast period. APEJ along with North America and Western Europe holds the highest market potential in the global medium voltage transformers market.
Global Medium Voltage Transformers Market: Key Takeaways
- Increased manufacturing activities in various regions such as Asia Pacific, Middle East, and Latin America are expected to have a medium level impact on the global market
- The presence of multinational and regional IT corporations as well as an increase in IT spending is expected to have a medium to high level of impact on the market
- Growth in the construction industry will have a direct impact on the growth of the global medium voltage transformers market over the forecast period; increase in construction activities coupled with stringent government norms will promote the growth of the market
- The growth in both urban and rural population is anticipated to increase the development of housing and infrastructural facilities that will simultaneously increase the demand for electric power and medium voltage transformers
- High disposable income and improved purchasing power parity observed in consumers is anticipated to have a low to medium level impact on the market
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Global Medium Voltage Transformers Market: Forecast and Segmental Analysis
The rating type segment includes 1,200 kVA, 1,500 kVA, 2,000 kVA, and 2,500 kVA segments.
1,200 kVA segment is anticipated to create incremental $ opportunity 4X that of the incremental $ opportunity created by the 1,500 kVA segment over the forecast period. In terms of value, the 1,200 kVA segment is anticipated to be valued at US$ 5,665.3 Mn by 2017 end. The segment is estimated to grow at a CAGR of 5.2% and reach a value of US$ 9,419.0 Mn by the end of 2027.
By product type, the market is categorised into dry type, oil immersed type and VPI type. Oil immersed type medium voltage transformers market is anticipated to grow 1.7X in terms of value during the forecast period. The segment is estimated to expand at a CAGR of 4.7% during the forecast period.
On the basis of configuration, global medium voltage transformers market is segmented into single phase and three phase. Three phase transformers are likely to replace single phase transformers owing to less power losses in three phased equipment.
The application segment comprises segments such as building establishments, civic infrastructure, industrial and IT-data and server centres. With growth witnessed in a number of IT service industries that have cropped up globally, the demand for medium voltage transformers is also likely to grow as IT companies require power supply that is coherent and streamlined in nature.
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Global Medium Voltage Transformers Market: Forecast by Region
APEJ accounts for more than 50% of the market share in terms of value in the global market. Thinly spread out domestic players in some regions such as APEJ, MEA and countries like Taiwan and Hong Kong, has a direct impact on the sales of domestic players. Furthermore, the presence of foreign players in the South East Asia market has enabled the supply of medium voltage transformers through many distributors and hence, distributor sales is estimated to expand with a healthy CAGR over the forecast period.
Global Medium Voltage Transformers Market: Key Players
Some of the players operating in the global medium voltage transformers market are ABB Group, Kirloskar Electric Company, Siemens AG, MGM Transformer Company Co., General Electric Company, Amran Inc., Hitachi, Ltd., Tianan Electric Group Co., Ltd., Fuji Electric Co. Ltd., RITZ Instrument Transformers GmbH, Schneider Electric SE, RECO Transformer Pvt. Ltd., Eaton Corporation PLC, Mitsubishi Electric Corporation, Jinpan International USA Ltd., Končar Distribution and Special Transformers, Inc., CG Power & Industrial Solutions Ltd., Fortune Electric Co., Ltd., Schaffner Holding AG, and Hammond Power Solutions Inc.
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Our uniqueness lies in extensive data processing to obtain the market forecast numbers in each country
Market volume has been split by rating for each medium voltage transformer, based on conversion of relative rankings into weighted percentage. We have estimated average prices for medium voltage transformers at the country level for base year and forecasting the data, considering cyclical nature of end-use industries as a factor for forecasting the same. The analysts have deduced the overall market revenue estimates and forecast by rating product type and configuration at a country level. Average pricing data considered for market value calculation is for bulk demand in each country. Data is mainly verified after gathering statistics from distributors, trade companies and trade websites. Price value range is deduced and thus the median value has been obtained for the better calculation of revenue estimates.