Asia Pacific Transformer Market size will observe a significant growth on account of increasing demand for electricity along with large scale renewable energy integration. Favorable government norms toward adoption of renewable energy systems along with rising concerns across grid reliability and stability will further thrust the industry landscape. Moreover, regulators around the world concentrate on the implementation and standardization of electricity supply networks that are power efficient.
APAC Market, By Core
Shell type core transformers market will observe significant deployment owing to rising adoption of these units across low voltage power circuits at critical nodes in HV (high voltage) networks. In addition, increasing implementation of shell type transformers across severe operating conditions and difficult terrains will complement the technology adoption. Moreover, short circuit reliability coupled with compact model, high output and easy transportation will boost the product demand.
APAC Market, By Winding
Auto-transformer units will observe growth on account of their ability to minimize ohmic/ core losses in combination with improved transmission voltage. Additionally, light weight and compact size along with low cost compared to its present available alternatives will enhance the product adoption. Furthermore, integration of intelligent surveillance technology to prevent system failure will improve reliability and security and thereby enhance the industry development.
APAC Market, By Product
Power transformer market will witness an upsurge owing to increase in electricity demand followed by favorable regulatory norms to extend networks for long-distance transmission networks. In addition, continuous power supply in a consistent way to ensure the electricity networks are extended across isolated grid areas, will in turn will fuel the technology adoption. Furthermore, government efforts to introduce energy efficiency norms as well as to reduce continuous electrical losses across grid networks will fuel the product deployment.
APAC Market, By Insulation
Air insulated transformers market will witness a substantial growth owing to their versatile product applications along with efficient and reliable operations. Furthermore, the ability to prevent combustibility, sustainable operations and limiting secondary implications of internal failures will augment the product adoption.
APAC Market, By Rating
61 MVA - 600 MVA transformers will witness substantial growth on account of their wider applicability across power generation, healthcare, oil & gas sectors. Rising deployment of these units across power plants and sub stations for power conversion to high voltages for the transmission will further complement the industry landscape.
APAC Market, By Country
India transformers market will witness a significant growth on account of rising renewable integration across the power grid sector along with refurbishment of T&D infrastructure. For instance, in 2019 Government of India, introduced an updated plan 'One Nation One Grid' to provide affordable power across all states that has led to a rise in power transformer acceptance. Moreover, ongoing developments across healthcare infrastructure followed by rapid investment toward remote transmission network will boost the industry landscape.
COVID-19 impacted various industries operations and development and contributed to delayed timelines for projects. The ongoing mandate for new institutions to respond to the crisis, including trade and health, may have a positive impact on business prospects. However, disturbances in the raw material supply chain and limited on-site operations, will in turn have minimum impact on the industry.
Competitive Industry Landscape
Major manufacturers across Asia Pacific transformer market are focused toward integrating advance technologies to encourage energy efficient systems. Major players across the industry includes Siemens AG, Toshiba, ABB, Hyundai Heavy industries, Mitsubishi Electric, Schneider Electric, General Electric, Kirloskar Electric, Kotsons, Swastik Copper, and among others.