Medium-voltage Segment is Expected to Dominate the Global Solar Transformer Market

Governments around the world are offering various incentives and initiatives to promote the adoption of solar energy. This is driving the demand for solar transformer systems.

According to TechSci Research report, “Global Solar Transformer Market - By Country, Competition, Forecast & Opportunities, 2028”. The Global Solar Transformer is anticipated to project robust growth in the forecast period with a CAGR of  3.25% through 2028. Solar transformer manufacturers are constantly developing new technologies to improve the efficiency, reliability, and cost-effectiveness of solar transformers. This is making solar transformers more attractive to customers, and it is also driving the growth of the solar transformer market. Governments and private investors are investing heavily in the solar sector. This is driving the demand for solar transformers, as solar transformers are used in all types of solar installations, from residential to utility-scale. Some of the leading solar transformer manufacturers in the world are headquartered in the APAC region, such as Huawei, Sungrow, and Ginlong Solis. These manufacturers have a strong presence in the APAC market, and they are well-positioned to meet the growing demand for solar transformers in the region.

Commercial solar installations are also becoming increasingly popular due to their benefits, such as lower electricity costs and increased sustainability. Medium-voltage solar transformers are used in commercial solar installations to step up the voltage of DC power

The COVID-19 pandemic and other global events have caused disruptions to the global supply chain. This has made it difficult for solar transformer manufacturers to obtain the raw materials and components they need to produce solar transformers.

Rising costs of raw materials: The cost of raw materials, such as copper and steel, has been rising in recent years. This has increased the cost of producing solar transformers. Trade tensions between different countries can also impact the solar transformer market. For example, the trade war between the United States and China has led to tariffs on solar transformers imported from China. This has increased the cost of solar transformers in the United States. Despite the challenges it faces, the solar transformer market is expected to experience significant growth in the coming years. This is due to the increasing adoption of solar energy, rising demand for grid-connected solar systems, growing investments in the solar sector, and technological advancements.

Solar transformer manufacturers are working to address the challenges facing the market. For example, they are developing new technologies to improve the efficiency and reduce the cost of solar transformers. They are also working to raise awareness of the benefits of solar energy systems and solar transformers. Governments can also play a role in supporting the growth of the solar transformer market. They can offer incentives for solar energy systems, and they can invest in research and development of new solar transformer technologies.

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The Asia Pacific region is expected to be the largest market for solar transformers during the forecast period. This is due to the growing demand for solar energy in the region, particularly in China and India. China is the world's largest solar market, and India is the world's third-largest solar market. Both countries are investing heavily in the solar sector, and this is driving the demand for solar transformers. North America and Europe are also expected to be significant markets for solar transformers during the forecast period. The North American solar market is growing rapidly, and the European solar market is expected to recover from its recent decline. The key players in the global solar transformer market include ABB, Schneider Electric, Siemens, TMEIC, and Toshiba. These companies are offering a wide range of solar transformers to meet the different needs of customers. Overall, the global solar transformer market is expected to experience significant growth in the coming years, driven by the increasing adoption of solar energy, rising demand for grid-connected solar systems, growing investments in the solar sector, and technological advancements.

Key market players in the Global Solar Transformer Market are following:-

• ABB
• Ormazabal Velatia
• OREX
• Olsun Electrics
• Núcleo ATS
• Northern Transformer
• Noratel
• Ningbo Wanji Electronics Science & Technology
• ABC Transformers
• Marsons

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“ In January 2022, Madhya Pradesh Poorv Kshetra Vidyut Vitaran Co Ltd. launched a new tender for the supply of a digital 3-phase distribution transformer for the state power distribution grid of Madhya Pradesh.

As of May 2022, according to the Central Electricity Authority (CEA), India had a total installed renewable capacity of 159.94 GW. The country is poised to achieve its target of 175 GW of renewable capacity by 2022. In November 2021, the Indian government announced a new non-fossil energy capacity target of 500 GW by 2030. “said Mr. Karan Chechi, Research Director with TechSci Research, a research-based  global management consulting firm.

Solar Transformer Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented            By Voltage Rating (Central Voltage, Medium-voltage, Low-voltage), By Application (Grid-connected and Off-grid solar systems ), By Colling Type (Oil-Immersed &  Air-Cooled), By Region, Competition 2018-2028.   has evaluated the future growth potential of Global Solar Transformer Market and provides statistics and information on market structure, size, share, and future growth. The report is intended 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 present in the Global Solar Transformer Market.

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