Transformer Market eyeing significant growth at a healthy 6.28% CAGR | Market Research Future (MRFR)

Pune, Feb. 08, 2021 (GLOBE NEWSWIRE) — Transformer Market Analysis/Transformer Market Trends 
The global transformer market is highly lucrative and predicted to witness significant growth at a healthy 6.28% CAGR over the forecast period (2019-2026), reveals the Market Research Future (MRFR) report. A transformer is an electrical machine that is designed for transferring electricity from one specific circuit to another with different voltage levels. There are different forms of transformers that are bifurcated based on a couple of factors such as installation location, winding arrangement, the medium utilized in the core, and the working voltage range. Fascinating Features that Spur Market Growth On the contrary, the scarcity of skilled labor, lack of well-established equipment, high cost, and reliability challenges may limit the global transformer market growth over the forecast period. 

Get Free Sample PDF BrochureMarket Segmentation By cooling type, the global transformer market is segmented into air-cooled transformer, and oil-cooled transformer. Of these, the oil-cooled transformer segment will lead the market over the forecast period. It will grow at a 7.68% CAGR by 2026. By power rating, the global transformer market is segmented into large power, medium power, and small power. Of these, the small power segment will dominate the market over the forecast period. It will grow at a 7.57% CAGR by 2026. By type, the global transformer market is segmented into power transformer, distribution transformer, and others. Of these, the power transformer segment will spearhead the market over the forecast period. It will grow at an 8.55% CAGR by 2026. By insulation, the global transformer market is segmented into liquid immersed and dry type. Of these, the liquid immersed segment will have the lions share in the market over the forecast period. It will grow at a 7.61% CAGR by 2026. By end user, the global transformer market is segmented into industrial, commercial, residential, and utility. Of these, the utility segment will command the largest share in the market over the forecast period. It will grow at a 7.79% CAGR by 2026. https://www.marketresearchfuture.com/reports/transformer-market-5982
Americas to Dominate Transformer Market APAC to Have Favorable Growth in Transformer Market https://www.marketresearchfuture.com/enquiry/5982
The prominent players profiled in the global transformer market report include.SPX Transformer Solutions, Inc. (U.S.)Hyosung Power & Industrial Solutions (South Korea)Bharat Heavy Electricals Limited (India)Toshiba Corporation (Japan)Mitsubishi Electric Corporation (Japan)Crompton Greaves Ltd. (India)Siemens AG (Germany)Schneider Electric (France)Eaton Corporation plc (Ireland), andABB Ltd., (Switzerland) among others. 
The global transformer market is highly competitive and fragmented in nature with the presence of well-established players. These players have encompassed several effective strategies to stay at the forefront and also cater to the consumers’ burgeoning needs such as research and development activities, geographic expansions, strategic alliances, product launches, and others. 
Industry Updates February 2021- SGB SMIR Group has tested the first transformer successfully in Germany using Nynas’NYTRO BIO 300X insulating fluid. It will offer a unique combination of sustainability and performance. January 2021- Hitachi ABB Power Grids has commissioned and supplied to Toji Group a 220-kilovolt power transformer for the 50MWp solar power plant Loc Nihn 5 in Vietnam. January 2021- Verna estate has got a new transformer to address the power reliability problems faced by the industry. Solid State Transformer Market Research Report: By Component (Converters, Switches), by Product (Distribution Transformer, Traction Transformer, Power Transformer), by Application (Traction Locomotives, EV Charging Stations) – Global Forecast till 2023Global Distribution Transformer Market Research report: Information by Type (pole mounted, pad mounted, underground), Insulation (oil-immersed, dry), Power Rating (<500 kVA, 500 kVA – 2500 kVA, 2500 kVA – 10000 kVA, >10000kVA), End-Use– Forecast till 2023Global Instrument Transformer Market Information Report by Rating (Distribution Voltage, Sub-Transmission Voltage, High Voltage Transmission and Extra High Voltage Transmission), By Enclosure Type (Indoor Transformers and Outdoor Transformers) and End-user (Power Utilities, Industries & OEMS, and Others), by Regions – Global Forecast To 2023Global Dry Transformer Market Research Report, By Type (Cast Resin, And Vacuum Pressure Impregnated), By Phase Type (Single-Phase, And Three-Phase), By Voltage Range (Low, And Medium), By Application (Industrial, Commercial and Others) – Forecast till 2023Global Pad-Mounted Transformer Market Report by Power Rating, (Less than 1mVA, More than 1mVA), Phase (Single-Phase, Three-Phase), Insulation (Dry Type and Liquid Immersed), Application (Residential, Industrial, Commercial) & Region – Forecast till 2023Global Traction Transformer Market Research Report: Information by Type (Tap Changing and Rectifier), by Overhead Line Voltage (AC System and DC System), by Mounting Position (Underframe, Machine Room and Roof), by Rolling Stock (Electric Locomotives, High Speed Trains and Metros) and by Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2025Global Transformer Monitoring System Market Research Report: Information By Service (Oil and Gas Monitoring, Bushing Monitoring and Others), Type (Hardware and Software), Application (Power Transformers, Distribution Transformers and Others) and Region (North America, Europe, Asia-Pacific, the Middle East & Africa and South America) – Forecast till 2026Global Power Transformer Market By Cooling Type (Oil-Cooled Transformer, Air-Cooled Transformer), By  Power Rating (Small Power, Medium Power, Large Power) – Global Forecast to 2023Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.Follow Us: LinkedIn | Twitter

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