The global lighting transformer market was valued at $1.2 billion in 2021, and is projected to reach $2.1 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Lighting transformers are designed to supply power to lighting equipment in a commercial, industrial, and domestic unit. Transformer primary supply is connected to higher voltage source and secondary is to be connected to load. In addition, it restricts short circuit current in the load and saves major accidents. It is also used where incoming supply is 3 phase 3 wire and lighting load is 220 Volt single phase.
Increase in demand for low voltage lighting transformers across the globe results in increase in lighting transformers, which in turn is expected to drive the growth of the market during the forecast period. In addition, growing residential and commercial sector is anticipated to be the driving factor during the forecast period. However, high cost of maintenance of low voltage lighting transformers is expected to hamper the growth of the market during the forecast period. On the contrary, increase in organic growth strategies by major key players is projected to create opportunity for these players in the lighting transformers market in the coming years.
For the purpose of analysis, the lighting transformers market scope covers segmentation based on type, power rating, application, and region. The report provides information on various types, including electronic transformer, magnetic transformer, and isolation transformer. Furthermore, the major power rating covered in the study include small, medium, and large. In addition, it outlines the details of the application such as commercial & residential, utility, and industrial. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The global lighting transformers market report covers in-depth information of the major transformers industry participants. Some of the major players in the lighting transformers market include Eaton Corporation Plc., Schneider Electric, ABB Ltd., Hitachi, Trio Transformer, Trans Power Tech, MX LightForce, Pelton Power Technologies Private Limited, Airlink Transformers, and Leviton which hold significant share of the market. These players have been adopting various strategies to gain higher share and to retain leading positions in the market.
The lighting transformers market is analyzed across the globe. Among the analyzed regions, Asia-Pacific is expected to account for the fastest-growing market throughout the forecast period, followed by Europe. The lighting transformer market is analyzed and estimated in accordance with impacts of drivers, restraints, and opportunities. The period studied in this report is 2021-2031. The report includes the study of the lighting transformer market with respect to growth prospects and restraints on the basis of regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
Lighting transformers are designed to supply power to lighting equipment in a commercial, industrial, and domestic unit. Transformer primary supply is connected to higher voltage source and secondary is to be connected to load. In addition, it restricts short circuit current in the load and saves major accidents. It is also used where incoming supply is 3 phase 3 wire and lighting load is 220 Volt single phase.
Increase in demand for low voltage lighting transformers across the globe results in increase in lighting transformers, which in turn is expected to drive the growth of the market during the forecast period. In addition, growing residential and commercial sector is anticipated to be the driving factor during the forecast period. However, high cost of maintenance of low voltage lighting transformers is expected to hamper the growth of the market during the forecast period. On the contrary, increase in organic growth strategies by major key players is projected to create opportunity for these players in the lighting transformers market in the coming years.
For the purpose of analysis, the lighting transformers market scope covers segmentation based on type, power rating, application, and region. The report provides information on various types, including electronic transformer, magnetic transformer, and isolation transformer. Furthermore, the major power rating covered in the study include small, medium, and large. In addition, it outlines the details of the application such as commercial & residential, utility, and industrial. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The global lighting transformers market report covers in-depth information of the major transformers industry participants. Some of the major players in the lighting transformers market include Eaton Corporation Plc., Schneider Electric, ABB Ltd., Hitachi, Trio Transformer, Trans Power Tech, MX LightForce, Pelton Power Technologies Private Limited, Airlink Transformers, and Leviton which hold significant share of the market. These players have been adopting various strategies to gain higher share and to retain leading positions in the market.
The lighting transformers market is analyzed across the globe. Among the analyzed regions, Asia-Pacific is expected to account for the fastest-growing market throughout the forecast period, followed by Europe. The lighting transformer market is analyzed and estimated in accordance with impacts of drivers, restraints, and opportunities. The period studied in this report is 2021-2031. The report includes the study of the lighting transformer market with respect to growth prospects and restraints on the basis of regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the lighting transformer market analysis from 2021 to 2031 to identify the prevailing lighting transformer market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the lighting transformer market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global lighting transformer market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Electronic
- Isolation
- Magnetic
By Power Rating
- Small
- Medium
- Large
By Application
- Utility
- Residential and Commercial
- Industrial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Span
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Schneider Electric
- ABB
- Eaton Corporation
- Hitachi
- Trio Transformer
- Trans Power Tech
- MX LightForce
- Pelton Power Technologies Private Limited
- Airlink Transformers
- Leviton
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: LIGHTING TRANSFORMER MARKET, BY TYPE
CHAPTER 5: LIGHTING TRANSFORMER MARKET, BY POWER RATING
CHAPTER 6: LIGHTING TRANSFORMER MARKET, BY APPLICATION
CHAPTER 7: LIGHTING TRANSFORMER MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Lighting Transformer Market," the lighting transformer market was valued at $1.2 billion in 2021, and is estimated to reach $2.1 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.Lighting transformers are transformers that are used only in conjunction with lighting. Dimmer switches are the usual name for them. A light can be turned brighter or dimmer by adjusting the voltage flowing through a circuit with the use of a transformer. They typically operate at lower temperatures and are more compact. These transformers are limited to 300 W of power. Lighting transformers also offer far less power handling capacity than magnetic transformers. In a short conclusion, transformers used to operate lighting are known as lighting transformers.
Dimmer switches are frequently used in practical applications to offer a more comfortable level of light or, if the homeowner wishes, to reduce the power of the light when they are gone out so that there is still light when they arrive home but so that the lighting doesn't spend a lot of energy. All dimmer switches used in residential, commercial, and utility sector are made to work with electric motors. Thus, widening application and increasing usage of dimmer switches in residential, commercial, and utility sector, and other industrial application are expected to fuel the demand for lighting transformers market during the upcoming years. Increase in investment in the construction of smart cities and smart commercial buildings in developed and developing countries has led to the utilization of power generators, electric generators, and primary circuit boards, in order to step down or step-up voltage, which has led to the demand for lighting transformers and electrical transformers. Furthermore, increase in the investment of the government and private companies to develop small, medium, and large-scale renewable power plants such as solar and wind, has boosted the demand for the large power rating transformer market.
Industrial manufacturing & other processes require a continuous and stable electricity supply for continued operations. In addition, properties such as better power services, improved air quality, and enhancement in energy security drive the demand for smart grid and power grid in industrial application; thereby, boosting the growth of the lighting transformers market during the forecast period. Furthermore, rapid growth in the electric vehicle sector has increased the demand for charging stations, which can be developed with the help of renewable energy. This process is expected to require a transformer to provide continuous power without fluctuations in loads, which further drives the growth of the lighting transformers market.
The global lighting transformers market is segmented on the basis of type, power rating, application, and region. On the basis of type, it is categorized into electronic, isolation, and magnetic transformers. As per power rating, it is categorized into small (500 to 7500kVA), medium (7500kVA to 100MVA), and large (above 100MVA) power rating. According to application, it is classified into commercial and residential sector, utility, and industrial sector. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The key players operating in the global lighting transformers market are Eaton Corporation Plc., Schneider Electric, ABB Ltd., Hitachi, Trio Transformer, Trans Power Tech, MX LightForce, Pelton Power Technologies Private Limited, Airlink Transformers, and Leviton which hold significant share of the market.
Growth of industrial sector with increase in lighting transformers demand in dimmer switches and use of lighting transformers in electric motors in industrial sector, and other application are expected to drive the growth of the isolation transformer market during the forecast period. In addition, rapid expansion of industrial sector in Europe region such as Germany, Italy, France, results in increase in demand for lighting transformers from industrial sector. This is expected to witness growth in demand for global lighting transformers over the forthcoming years.
The disadvantages associated with low-voltage lighting transformer includes less bright, limited on lighting options, commercial businesses might have a harder time passing inspection, and challenges in maintenance. Majority of electricians operating in commercial and residential sector are not all that familiar with low-voltage lighting since line voltage is the majority of the lighting they work with. Also, if the consumer requires electrical maintenance or an electrical solution, it may be more expensive since more time and labor is required to fix the problem. Thus, high cost involvement for maintenance of low voltage lighting transformer and the disadvantages associated with low voltage transformer are expected to hamper the market growth.
Lighting transformers market in China is expected to record a growth rate of more than 5.4% up to 2031 on account of the escalating demand for low voltage lighting in the region. Asia-Pacific represents one of the largest share for transformers in the global market. Moreover, presence of significant number of key players in the market is expected to boost the regional growth. Increasing infrastructural advancements across the region are expected to continue to spur demand in the upcoming years. Japan witnessed high growth due to use of lighting transformer in residential and commercial lighting needs, from bedroom lighting to restaurant lighting. Moreover, increasing applications of outdoor application such as backyard lighting, garden lights, landscape lighting, modern lighting, outdoor led lighting, outdoor light fixtures, the lighting corner, and wall sconce lighting is expected to be a major opportunity for the development of the lighting transformers market.
Key Findings:
- North America is expected to exhibit CAGR of 5.9% during 2021-2031.
- By type, electronic segment is expected to exhibit highest CAGR during 2021-2031.
- By power rating, small segment accounted for the largest market share in 2021.
- By application, utilities had the largest market share in 2021.
Companies Mentioned
- Schneider Electric
- ABB
- Eaton Corporation
- Hitachi
- Trio Transformer
- Trans Power Tech
- MX LightForce
- Pelton Power Technologies Private Limited
- Airlink Transformers
- Leviton
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 391 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 1.2 billion |
| Forecasted Market Value ( USD | $ 2.1 billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
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