Asia Pacific Power Transformer Market size will observe a remarkable growth during the forecast period owing to increasing demand for electricity along with large scale renewable energy integration. In addition, rising demand for traditional grid system renovation coupled with increasing investment toward expansion of distribution networks will further enhance the market share. Furthermore, upgradation of existing grid network in line with increasing demand for sustainable energy will foster the APAC power transformer industry landscape.
Shell type core transformer units are predicted to expand substantially through 2027 due to increasing deployment across low voltage power circuits at critical nodes in high voltage networks together with increasing implementation across severe operating environments. Moreover, compact model design along with short circuit reliability, easy transportation and high electricity output will fuel the product demand.
Auto transformer sector will witness a significant growth till 2027 led by enhanced voltage regulation capability coupled with ability to reduce core losses for transformer’s material reduction. In addition, light weight, compact size, and reduced product cost will boost the product demand. Furthermore, deployment of smart and hybrid monitoring technologies for avoiding system failures across the transmission & distribution networks will complement the Asia Pacific market size expansion for power transformers.
Outdoor transformers will register high growth in the coming years owing to extensive suitability for high-voltage applications in combination with minimal material requirements. The technology implementation will further enhance minimization of fire threat, low maintenance cost and optimal cooling power. Ongoing continuous expansion of cross-country electricity networks to incorporate extra high-performance across HVAC and HVDC transmission technologies will fuel the market revenue.
Air-insulated transformer segment is estimated to rise exponentially between 2021 and 2027 impelled by its multifaceted product applications coupled with successful and efficient operations. Moreover, ability of these units to provide sustainable operations and limit the secondary consequences of internal failures will boost the market demand.
Wide applicability of 101 MVA to 500 MVA capacity-based transformers across the oil & gas, power generation, and healthcare industries have observed significant growth. Moreover, increased deployment of these units for power transmission via electricity plants and sub-stations will complement the market growth scenario.
Australia power transformer market is anticipated to grow at healthy CAGR from 2021 to 2027 driven by government efforts to increase the renewable energy share in the overall energy mix. Increasing energy demand along with deployment of long-distance transmission lines to transfer high voltage electricity will further propel the product deployment.
COVID-19 has influenced and led to delay in pipeline projects across various industries operations. New organizations might have a constructive business prospection as a result of their ongoing mandate to respond to a crisis, including trade and health. However, disruptions across the supply chain for raw materials and minimal onsite activities will affect the industry outlook.
Major manufacturers in the market concentrate on incorporating new technology and offering digital solutions to support energy efficiency systems. Eminent players across the industry are Siemens AG, Hitachi ABB Power Grids, Mitsubishi Electric, Toshiba, Schneider Electric, General Electric, Bharat Heavy Electricals Limited, Kirloskar Electric, Hyundai Heavy industries and Celme among others.