Asia Pacific Power Transformers Market is expected to grow at a robust CAGR
Asia Pacific Power Transformers Market is expected to grow owing to adoption
of renewable energy solutions throughout the forecast period.
According to TechSci Research report, “Asia Pacific Power Transformers Market - By Country,
Competition, Forecast and Opportunities, 2018-2028”, the Asia Pacific Power
Transformers Market is expected to register robust growth during the
forecast period.
Stringent government regulations
pertaining to carbon emissions are expected to persist in the coming years,
presenting growth prospects for the power transformer market. The increasing
adoption of renewable energy sources and the rising demand for electricity
drive the acceptance of high voltage transmission technologies, including HVDC,
HVAC, and UHV power transformers. Notably, countries like China are already
leveraging ultra-high-voltage transmission technology.
Energy storage systems, including batteries, are increasingly being
deployed in conjunction with renewable energy sources to store surplus energy
for utilization during periods of low generation. Power transformers play a
crucial role in connecting these storage systems to the grid and effectively
managing the bidirectional flow of electricity.
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in-depth TOC on the "Asia Pacific Power Transformers Market."
Based on cooling type, the
Air-Cooled segment is expected to dominate the market during the forecast
period. Analyzing the air-cooled segment of the Asia Pacific power transformer
market provides valuable insights into the specific dynamics and trends
associated with this cooling method. Air-cooled transformers are a preferred
choice in regions where water availability may be limited or where
environmental concerns necessitate a dry cooling method. The market for
air-cooled transformers in the Asia Pacific region has been steadily growing,
driven by several factors. One of the key drivers is the demand for
transformers in remote and off-grid areas with limited or unreliable water
resources. Moreover, the increasing electricity demand in urban and industrial
centers has led to the deployment of air-cooled transformers to meet this
growing demand. As industries expand and electrification efforts continue, the
market for air-cooled transformers is expected to witness further growth. Air-cooled
transformers find applications in various sectors within the Asia Pacific
region, including industries, commercial buildings, data centers, and areas
where safety regulations require the use of dry-type transformers. Furthermore,
air-cooled transformers are often selected for critical infrastructure
projects, such as airports and railways, where a reliable power supply is
crucial. The flexibility and suitability of air-cooled transformers for diverse
applications contribute to their market growth. Energy efficiency is a
significant consideration in the selection of air-cooled transformers. Many
countries in the Asia Pacific region have implemented energy efficiency
standards and regulations to minimize energy wastage. Manufacturers in the
air-cooled segment continuously innovate to develop transformers with lower
losses, aiding end-users in achieving energy efficiency goals and reducing
operational costs. Additionally, the environmentally friendly nature of
air-cooled transformers, which do not require oil-based cooling, aligns with
sustainability and environmental objectives.
Based on insulation, the Liquid Immersed segment is projected to
dominate the market throughout the forecast period. Analyzing the
liquid-immersed transformer segment of the Asia Pacific power transformer
market provides valuable insights into the specific dynamics and trends
associated with this prevalent transformer technology. Liquid-immersed
transformers are widely recognized for their efficiency, reliability, and
cost-effectiveness. The Asia Pacific region boasts a substantial and steadily
growing market for liquid-immersed transformers, driven by factors such as
increasing electricity demand, infrastructure development, industrial
expansion, and their widespread use across various applications. Liquid-immersed
transformers find extensive applications across a diverse range of industries
and sectors in the Asia Pacific region. They are commonly employed in power
generation, transmission, and distribution systems, as well as in industrial
facilities, commercial buildings, and residential areas. These transformers
showcase versatility and adaptability, making them well-suited for various
end-use applications. The high efficiency and reliability of liquid-immersed
transformers make them particularly suitable for applications that demand high
power capacity and consistent performance. Consequently, utilities and
industries across the region prefer these transformers due to their operational
longevity and efficiency. Numerous countries in the Asia Pacific region are
actively investing in grid expansion and modernization projects to meet the
surging electricity demand. Liquid-immersed transformers play a critical role
in these initiatives by ensuring efficient transmission and distribution of
electricity. This trend is expected to significantly drive the demand for these
transformers in the foreseeable future.
Key market players in the Asia Pacific Power Transformers Market are:-
- Eaton Corporation Plc.
- Schneider Electric.
- Siemens AG.
- ABB Ltd.
- Toshiba Corporation.
- Mitsubishi Electric Corporation.
- CG Power and Industrial Solutions Ltd.
- General Electric
- Kirloskar Electric Co. Ltd.
- SGB-SMIT
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“The Asia Pacific Power Transformers Market in China is poised to be the
dominant force in the industry. China has been implementing stringent
environmental regulations, including energy efficiency standards for electrical
equipment. As a result, power transformer manufacturers in the country are
compelled to comply with these regulations, fostering innovation in the
development of environmentally friendly and energy-efficient transformer
designs.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Asia Pacific Power Transformers Market By Power Rating (Small, Medium
and Large), By Cooling Type (Air-Cooled and Oil-Cooled), By Insulation (Dry and
Liquid Immersed), By Application (Commercial & Residential, Utility,
Industrial), By Country, By Competition Forecast & Opportunities, 2018-2028,” has evaluated the future growth potential of Asia Pacific Power
Transformers Market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Asia Pacific
Power Transformers Market.
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