The Asia Pacific Power Transformer Market should witness market growth of 7.2% CAGR during the forecast period (2022-2028).
Power transformers are essential devices that assist in connecting generating stations to transmission networks. It is expected that rise in the usage of renewable and non-renewable energy resources will propel the power transformer market throughout the predicted period. Power transformers form an important part of the power grid.
Rising consciousness about the excess release of CO2 and other greenhouse gases will increase the usage of smart grids. Smart grids enable the monitoring of grid instruments in remote areas and also allow to react instantly to the fluctuating power demand. Smart power transformers are being utilized more because of their benefits.
Strict government regulations regarding the release of carbon are predicted to remain stringent throughout the upcoming years, thus, offering the development opportunities to the power transformer market. The emergence of renewable power sources and growth in demand for electricity raise the acceptance of high voltage transmission technologies like HVDC, HVAC, and UHV power transformers. Several nations like China are already utilizing ultra-high-voltage transmission technology.
In 2015, NSGM (national smart grid mission) was initiated by the government of India to monitor and plan the application of programs and policies linked to smart grid programmes in India. The main objective of the smart grids is to enhance the reliability of the electronic networks and create a grid obedient to the inputs of renewable energy by distributed generation. Moreover, efficiencies grown with smart meters and smart grids enable customers to control their electricity consumption in an improved way and assist them in decreasing their bills. This will accelerate the growth of the power transformers market in the upcoming years.
The China market dominated the Asia Pacific Power Transformer Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,884.7 Million by 2028. The Japan market is estimated to grow a CAGR of 6.5% during (2022-2028). Additionally, The India market would experience a CAGR of 7.8% during (2022-2028).
Based on Insulation, the market is segmented into Oil, Gas, Air, Solid and Others. Based on Application, the market is segmented into Industrial, Residential & Commercial and Utilities. Based on Rating, the market is segmented into 100 MVA to 500 MVA, 501 MVA to 800 MVA and 801 MVA to 1,200 MVA. Based on Phase, the market is segmented into Three and Single. Based on Core, the market is segmented into Shell, Closed and Berry. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Toshiba Corporation, ABB Group, General Electric Company, Siemens Energy AG, Alstom SA, Mitsubishi Electric Corporation, Hyosung Heavy Industries Corporation, CG Power & Industrial Solutions Ltd. (Murugappa Group), Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.), and Bharat Heavy Electricals Ltd.
Power transformers are essential devices that assist in connecting generating stations to transmission networks. It is expected that rise in the usage of renewable and non-renewable energy resources will propel the power transformer market throughout the predicted period. Power transformers form an important part of the power grid.
Rising consciousness about the excess release of CO2 and other greenhouse gases will increase the usage of smart grids. Smart grids enable the monitoring of grid instruments in remote areas and also allow to react instantly to the fluctuating power demand. Smart power transformers are being utilized more because of their benefits.
Strict government regulations regarding the release of carbon are predicted to remain stringent throughout the upcoming years, thus, offering the development opportunities to the power transformer market. The emergence of renewable power sources and growth in demand for electricity raise the acceptance of high voltage transmission technologies like HVDC, HVAC, and UHV power transformers. Several nations like China are already utilizing ultra-high-voltage transmission technology.
In 2015, NSGM (national smart grid mission) was initiated by the government of India to monitor and plan the application of programs and policies linked to smart grid programmes in India. The main objective of the smart grids is to enhance the reliability of the electronic networks and create a grid obedient to the inputs of renewable energy by distributed generation. Moreover, efficiencies grown with smart meters and smart grids enable customers to control their electricity consumption in an improved way and assist them in decreasing their bills. This will accelerate the growth of the power transformers market in the upcoming years.
The China market dominated the Asia Pacific Power Transformer Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,884.7 Million by 2028. The Japan market is estimated to grow a CAGR of 6.5% during (2022-2028). Additionally, The India market would experience a CAGR of 7.8% during (2022-2028).
Based on Insulation, the market is segmented into Oil, Gas, Air, Solid and Others. Based on Application, the market is segmented into Industrial, Residential & Commercial and Utilities. Based on Rating, the market is segmented into 100 MVA to 500 MVA, 501 MVA to 800 MVA and 801 MVA to 1,200 MVA. Based on Phase, the market is segmented into Three and Single. Based on Core, the market is segmented into Shell, Closed and Berry. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Toshiba Corporation, ABB Group, General Electric Company, Siemens Energy AG, Alstom SA, Mitsubishi Electric Corporation, Hyosung Heavy Industries Corporation, CG Power & Industrial Solutions Ltd. (Murugappa Group), Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.), and Bharat Heavy Electricals Ltd.
Scope of the Study
By Insulation
- Oil
- Gas
- Air
- Solid
- Others
By Application
- Industrial
- Residential & Commercial
- Utilities
By Rating
- 100 MVA to 500 MVA
- 501 MVA to 800 MVA
- 801 MVA to 1,200 MVA
By Phase
- Three
- Single
By Core
- Shell
- Closed
- Berry
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Toshiba Corporation
- ABB Group
- General Electric Company
- Siemens Energy AG
- Alstom SA
- Mitsubishi Electric Corporation
- Hyosung Heavy Industries Corporation
- CG Power & Industrial Solutions Ltd. (Murugappa Group)
- Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.)
- Bharat Heavy Electricals Ltd.
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- Exhaustive coverage
- The highest number of Market tables and figures
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- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Power Transformer Market, by Insulation
1.4.2 Asia Pacific Power Transformer Market, by Application
1.4.3 Asia Pacific Power Transformer Market, by Rating
1.4.4 Asia Pacific Power Transformer Market, by Phase
1.4.5 Asia Pacific Power Transformer Market, by Core
1.4.6 Asia Pacific Power Transformer Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Asia Pacific Power Transformer Market by Insulation
3.1 Asia Pacific Oil Market by Country
3.2 Asia Pacific Gas Market by Country
3.3 Asia Pacific Air Market by Country
3.4 Asia Pacific Solid Market by Country
3.5 Asia Pacific Others Market by Country
Chapter 4. Asia Pacific Power Transformer Market by Application
4.1 Asia Pacific Industrial Market by Country
4.2 Asia Pacific Residential & Commercial Market by Country
4.3 Asia Pacific Utilities Market by Country
Chapter 5. Asia Pacific Power Transformer Market by Rating
5.1 Asia Pacific 100 MVA to 500 MVA Market by Country
5.2 Asia Pacific 501 MVA to 800 MVA Market by Country
5.3 Asia Pacific 801 MVA to 1,200 MVA Market by Country
Chapter 6. Asia Pacific Power Transformer Market by Phase
6.1 Asia Pacific Three Market by Country
6.2 Asia Pacific Single Market by Country
Chapter 7. Asia Pacific Power Transformer Market by Core
7.1 Asia Pacific Shell Market by Country
7.2 Asia Pacific Closed Market by Country
7.3 Asia Pacific Berry Market by Country
Chapter 8. Asia Pacific Power Transformer Market by Country
8.1 China Power Transformer Market
8.1.1 China Power Transformer Market by Insulation
8.1.2 China Power Transformer Market by Application
8.1.3 China Power Transformer Market by Rating
8.1.4 China Power Transformer Market by Phase
8.1.5 China Power Transformer Market by Core
8.2 Japan Power Transformer Market
8.2.1 Japan Power Transformer Market by Insulation
8.2.2 Japan Power Transformer Market by Application
8.2.3 Japan Power Transformer Market by Rating
8.2.4 Japan Power Transformer Market by Phase
8.2.5 Japan Power Transformer Market by Core
8.3 India Power Transformer Market
8.3.1 India Power Transformer Market by Insulation
8.3.2 India Power Transformer Market by Application
8.3.3 India Power Transformer Market by Rating
8.3.4 India Power Transformer Market by Phase
8.3.5 India Power Transformer Market by Core
8.4 South Korea Power Transformer Market
8.4.1 South Korea Power Transformer Market by Insulation
8.4.2 South Korea Power Transformer Market by Application
8.4.3 South Korea Power Transformer Market by Rating
8.4.4 South Korea Power Transformer Market by Phase
8.4.5 South Korea Power Transformer Market by Core
8.5 Singapore Power Transformer Market
8.5.1 Singapore Power Transformer Market by Insulation
8.5.2 Singapore Power Transformer Market by Application
8.5.3 Singapore Power Transformer Market by Rating
8.5.4 Singapore Power Transformer Market by Phase
8.5.5 Singapore Power Transformer Market by Core
8.6 Malaysia Power Transformer Market
8.6.1 Malaysia Power Transformer Market by Insulation
8.6.2 Malaysia Power Transformer Market by Application
8.6.3 Malaysia Power Transformer Market by Rating
8.6.4 Malaysia Power Transformer Market by Phase
8.6.5 Malaysia Power Transformer Market by Core
8.7 Rest of Asia Pacific Power Transformer Market
8.7.1 Rest of Asia Pacific Power Transformer Market by Insulation
8.7.2 Rest of Asia Pacific Power Transformer Market by Application
8.7.3 Rest of Asia Pacific Power Transformer Market by Rating
8.7.4 Rest of Asia Pacific Power Transformer Market by Phase
8.7.5 Rest of Asia Pacific Power Transformer Market by Core
Chapter 9. Company Profiles
9.1 Toshiba Corporation
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research and Development Expense
9.1.5 SWOT Analysis
9.2 ABB Group
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.5 Recent strategies and developments:
9.2.5.1 Acquisitions and Mergers:
9.2.6 SWOT Analysis
9.3 General Electric Company
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expense
9.3.5 SWOT Analysis
9.4 Siemens Energy AG
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expenses
9.4.5 Recent strategies and developments:
9.4.5.1 Partnerships, Collaborations, and Agreements:
9.4.5.2 Product Launches and Product Expansions:
9.5 Alstom SA
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expenses
9.6 Mitsubishi Electric Corporation
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Research & Development Expense
9.6.5 Recent strategies and developments:
9.6.5.1 Acquisitions and Mergers:
9.7 Hyosung Heavy Industries Corporation
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Research & Development Expenses
9.8 CG Power & Industrial Solutions Ltd. (Murugappa Group)
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Segmental and Regional Analysis
9.9 Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.)
9.9.1 Company Overview
9.9.2 Financial Analysis
9.10. Bharat Heavy Electricals Ltd.
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Segmental Analysis
Companies Mentioned
- Toshiba Corporation
- ABB Group
- General Electric Company
- Siemens Energy AG
- Alstom SA
- Mitsubishi Electric Corporation
- Hyosung Heavy Industries Corporation
- CG Power & Industrial Solutions Ltd. (Murugappa Group)
- Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.)
- Bharat Heavy Electricals Ltd.
Methodology
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