Vacuum Pressure Encapsulated (VPE) Transformer Global Market Report 2024

The vacuum pressure encapsulated (vpe) transformer market size has grown strongly in recent years. It will grow from $5.21 billion in 2023 to $5.68 billion in 2024 at a compound annual growth rate (CAGR) of 9%. The historical growth can be attributed to rising power demand, aging power infrastructure, governmental efforts towards grid modernization, emphasis on integrating renewable energy, environmental considerations, and regulatory measures.

The vacuum pressure encapsulated (vpe) transformer market size is expected to see strong growth in the next few years. It will grow to $7.61 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The anticipated growth in the forecast period is driven by increased investments in energy infrastructure, the integration of IoT and digitalization, a heightened focus on energy efficiency, efforts to enhance resilience against harsh environmental conditions, and the global expansion of smart grid deployments. Noteworthy trends in the forecasted timeframe encompass the adoption of dry-type transformers, the emphasis on customization and modular designs, the development of eco-friendly insulation materials, and the implementation of advanced monitoring and diagnostics for enhanced equipment performance.

The vacuum-pressure encapsulated (VPE) transformer market is expected to experience growth driven by the increasing demand for electricity. Electricity demand, representing the amount of electrical power consumed at a given time, is a key factor influencing the market. Vacuum-pressure-encapsulated transformers, known for their excellent mechanical and short-circuit strength, play a crucial role in managing electricity by providing effective electrical isolation and eliminating the risk of fire or explosion. According to the International Energy Agency (IEA), global electricity demand is set to increase by 5% in 2021, and global electricity generation increased by 2.4% (nearly 700 TWh) in 2022. This growth in electricity demand is a significant driver for the vacuum-pressure encapsulated (VPE) transformer market.

Leading companies in the VPE transformer market are focusing on innovative products to enhance electricity distribution efficiency and environmental friendliness. One such innovation is the development of dry-type pole-mounted transformers. These transformers use air or gas as the cooling medium and are mounted on poles for outdoor installation, eliminating the need for liquid insulation. Siemens Energy, a Germany-based energy technology company, introduced CAREPOLE in April 2022. CAREPOLE is a Vacuum Pressure Impregnated (VPI) pole-mounted transformer, available in single-phase designs with a voltage capacity of up to 36 kV and power ratings ranging from 10 kVA to 100 kVA. It is a dry-type transformer that uses no oil, enhancing safety and environmental sustainability compared to traditional oil-filled transformers.

In April 2023, Eaton Corporation, a US-based power management company, acquired a 49% stake in Jiangsu Ryan Electrical Co. Ltd., a China-based power manufacturer of VFE dry-type transformers. This strategic acquisition positions Eaton to capitalize on global growth trends in electrification and digitalization, contributing to the transition to renewable energy and addressing critical power management challenges worldwide.

Major companies operating in the vacuum pressure encapsulated (vpe) transformer market report are Hitachi Ltd, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens Energy AG, ABB Group, Toshiba Corporation, Eaton Corporation, TBEA Co Ltd, Fuji Electric Co Ltd, WEG SA, Bharat Heavy Electricals Limited (BHEL), HyundAI Electric & Energy Systems Co Ltd, Crompton Greaves Limited, CG Power and Industrial Solutions Limited, Hammond Power Solutions Inc, Virginia Transformer Corp, Voltamp Transformers Limited, Kirloskar Electric Company Limited, Matelec Group.

Asia Pacific was the largest region in the vacuum pressure encapsulated (VPE) transformer market in 2023. The regions covered in the vacuum pressure encapsulated (vpe) transformer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the vacuum-pressure-encapsulated (VPE) transformer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The vacuum-pressure-encapsulated (VPE) transformer market consists of sales of cast coil VPE transformers, tape wound VPE transformers, and amorphous core VPE transformers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

A Vacuum-Pressure Encapsulated (VPE) transformer is a specific type of electrical transformer designed with a vacuum-sealed enclosure for enhanced insulation and reduced environmental impact, contributing to efficient and reliable power distribution. This transformer utilizes vacuum technology to eliminate air and moisture from its interior, minimizing the risk of insulation breakdown and thereby extending the lifespan of the transformer. The vacuum-pressure encapsulated design helps create a controlled environment within the transformer, improving its insulation properties and overall performance in power distribution applications.

Vacuum-pressure-encapsulated (VPE) transformers come in two main winding configurations, two-winding and auto-transformers. A two-winding transformer features distinct primary and secondary windings, optimizing energy transfer and voltage transformation through electromagnetic induction. These transformers are classified based on ratings such as ≤5 MVA, >5 MVA to ≤ 30 MVA, and > 30 MVA. They find application in various sectors, including industrial settings, inner-city substations, indoor or underground substations, and renewable energy generation.

The vacuum pressure encapsulated (VPE) transformer market research report is one of a series of new reports that provides vacuum pressure encapsulated (VPE) transformer market statistics, including vacuum pressure encapsulated (VPE) transformer industry global market size, regional shares, competitors with vacuum pressure encapsulated (VPE) transformer market share, detailed vacuum pressure encapsulated (VPE) transformer market segments, market trends, and opportunities, and any further data you may need to thrive in the vacuum pressure encapsulated (VPE) transformer industry. This vacuum pressure encapsulated (VPE) transformer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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