Europe Power Transformer Market size is estimated to witness a lucrative growth between 2021 and 2027 on account of stringent government norms to integrate sustainable energy infrastructure and increasing energy demand. Large scale integration of renewable sources along with digital transformation of utilities will positively influence the market landscape. Favorable government policies toward the upgradation of existing T&D networks and minimizing power theft will foster the industry growth.
Europe Market, By Core
Rapid urbanization coupled with exponentially rising energy consumption will complement the closed core power transformer market. Favorable government renewable reforms for the residential sector along with ongoing replacement of the existing electrical equipment with advanced high-tech systems will facilitate the market growth. Sustainable transformation capacities in line with effective operational life expectancy will support the product adoption.
Europe Market, By Installation
Outdoor installation segment will grow substantially till 2027 owing to stringent regulatory policies to ensure grid sustainability and deployment of smart monitoring units. Increasing applicability across high voltage application areas along with limited material requirements will boost product adoption. Expansion of transmission lines coupled with introduction of cross border networks will favor the industry dynamic.
Europe Market, By Cooling
Dry type transformer will observe an upsurge during the forecast period due to vital benefits including low cost, ease of replacement and high efficiency. Surging consumer inclination toward less failure rates & operational flexibility coupled with effective voltage regulations will fuel the market expansion. In addition, increasing applicability across low & medium power networks and manufacturing industries will impel the product adoption.
Europe Market, By Rating
Flourishing real estate sector in line growing refurbishment demand of existing buildings < 100 MVA rated power transformer market. Increasing infrastructural investment along with expansion of commercial establishments including hotels, malls, resorts, and universities will drive the product adoption. Moreover, the continuous demand for new developments to response to the coronavirus crisis including healthcare and commercial sector will energize the market dynamic.
Europe Market, By Country
Integration of micro grid technology along with development of Tier II & III cities will complement the Germany power transformer market. Ongoing modernization & automation of existing industries coupled with expansion of long route distribution networks will encourage the product adoption. Introduction of smart grids and increasing concern toward adoption of smart transformer units will positively sway the market potential. The product integrates key features including removal of leakage & spills and better performance across harsh climatic conditions, facilitating the market growth.
Competitive Industry Landscape
The major players operating across the market include ABB, SPX Transformer Solutions, Celme, Hyosung, General Electric, Siemens, Schneider Electric, Mitsubishi Electric Corporation, Toshiba Corporation, CGglobal and Hammond Power Solutions. Effective supply chain collaborations and overseas business expansion are the few key strategies adopted by companies to enhance their growth opportunities.