Industrial Control Transformer Market by Rating (Low (100 MVA to 500 MVA), Medium (501 MVA to 800 MVA), High (801 MVA to 1200 MVA)), Cooling Type (Air-cooled, Oil-cooled), End-User (Power Generation, Oil & Gas, Chemical, Metal & Mining and Others): Global Market Size Estimates and Forecast (2022–2030)
The industrial control transformer market is expected to cross US$ 1 billion mark in 2022 and is projected to hit US$ 1.4 billion by 2030, recording a CAGR of 6% during the forecast period.
Industrial Control Transformer Market has been Significantly Growing with the High Demand of Electricity which is Contributing towards Rising Power & Generation Segment Growth.
Rising supply of electricity across the globe is one of the major factors driving the growth of the industrial control transformer market. Also, the reduced in machinery failure due to frequent voltage peaks, is another factor fueling the growth of industrial control transformer market in industries. In addition to high electricity demand, an increase in power generation capacity worldwide is expected to witness a significant growth during the forecast period, which in turn will have a positive impact in power & generation industry rise. The oil-cooled segment is expected to pace up with the rising adoption in electrical companies, factories, and other industries. Further, air-cooled segment is also expected to gain traction during the forecasted year.
Within the report, the market is segmented into rating, colling type, end-user and geography. By rating, the market is further segmented into low (100 MVA to 500 MVA), medium (501 MVA to 800 MVA), and high (801 MVA to 1200 MVA). On the basis of cooling type, the market is bifurcated into air-cooled and oil-cooled. By end-user the market is further segmented into power generation, oil & gas, chemical, metal & mining and others. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Growing Chemical and Petrochemical Industry will Rise Demand for Industrial Control Transformer in Market.
A control transformer provides excellent voltage regulation. It is designed to produce a high level of secondary voltage stability particularly during the overload condition. The control transformers are used in electronic circuit which requires constant voltage or current with a low power or volt-amp rating. It is used for industrial applications where electromagnetic devices like relays and solenoids, here it maximizes inrush capability and output voltage regulation when electromagnetic devices are energized initially.
Rising Adoption of Control Transformers in Diversified Industries is One of the Major Factors Accelerating the Market Growth.
The end-user of industrial control transformer are power generation, oil & gas, chemical, metal & mining and others. Within these, power generation is one such industry, wherein the use of control transformer is increasing due to the growing energy consumption across the globe. In oil and gas industry, the control transformer is utilized for ammonia synthesis, plastics, and others applications. Oil & gas and metal & mining are another industries encouraging the use of industrial control transformer and thereby influencing the industrial control transformer market growth.
Recent Strategic Developments in Industrial Control Transformer Market
The industrial control transformer market has undergone several significant developments, and a few of these have been mentioned below:
- In April 2022, Siemens Energy launched dry-type single-phase transformer for pole applications. Through this initiative, the company is providing a reliable and sustainable alternative for the oil-filled transformers.
- In January 2022, General Electric announced that the Scottish and Southern Energy (SSE) has ordered two auto transformers of 1,200 MVA 400 kV for its Kintore substation. These transformers are expected to be installed till fourth quarter of 2022.
The industrial control transformer market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. ABB Ltd., Bharat Heavy Electricals Limited, Crompton Graves Ltd., Eaton Corporation PLC, General Electric, Hyosung Corporation, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG and Toshiba Corporation are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Control Transformer-related service providers
- Control Transformer-related associations, organizations, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Industrial control transformer component suppliers
- Transformer distributors and sales firms
- End users of industrial control transformers
- Research Institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Rating:
- Low (100 MVA to 500 MVA)
- Medium (501 MVA to 800 MVA)
- High (801 MVA to 1200 MVA)
- Cooling Type
- Air-cooled
- Oil-cooled
- End-User
- Power Generation
- Oil & Gas
- Chemical
- Metal & Mining
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- ABB Ltd.
- Bharat Heavy Electricals Limited
- Crompton Graves Ltd.
- Eaton Corporation PLC
- General Electric
- ABB Ltd.
- Bharat Heavy Electricals Limited
- Crompton Graves Ltd.
- Eaton Corporation PLC
- General Electric