North American Power Transformer Market size is poised to grow substantially between 2021 and 2027, according to a latest forecast report by Graphical Research.
North America market growth is on account of growing smart cities infrastructure along with ongoing integration of renewable energy sources. A transformer is a stationary electrical device which is used to transfer electrical energy within two or more circuits using electromagnetic induction. The paradigm shift toward enhancement of installed grid infrastructure along with rising peak load demand will further augment the industry landscape. Moreover, the digitization of power transformers coupled with improvements in insulation & cooling technology will foster the market growth.
The indoor-based segment is expected to grow at a significant CAGR during the forecast period owing to rising energy demand from consumers and consistent power backup requirements for long duration. Increasing automation of products will further propel the business landscape. In addition, large-scale integration of captive energy sources across the industrial sector combined with the increasing companies’ focus on carbon neutral technology will stimulate the product penetration.
The three phase power transformer industry will gain remarkable momentum over the forecast timeline on account of ongoing regulatory norms to refurbish the grid infrastructure with smart and energy-efficient transmission and distribution transmission & distribution network. Ability for efficient voltage regulation, multi nodal integration with distribution network, and quick cooling system will further propel the product adoption. In addition, frequent power outages coupled with the growing requirement for robust distribution stations with large capacities will stimulate product installation across the region.
Browse detailed statistical insights from the report, “North America Power Transformer Market Forecast 2027 By Mounting (Pad, Pole, PC/PCB), By Core (Closed, Shell, Berry), By Cooling (Dry Type, Oil Immersed), By Insulation (Gas, Oil, Solid, Air), By Installation (Outdoor, Indoor), By Rating (< 100 MVA, 101 MVA to 500 MVA, 501 MVA to 800 MVA, > 800 MVA), By Application (Residential & Commercial, Utility, Industrial), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The >800 MVA power transformers segment is set to rise exponentially through 2027 owing to increasing substation loads along with various remote grids formed across the region. In addition, efficient cooling system, frequency modulation, and longer shell life will positively influence the product deployment. Increasing electrification across emerging economies coupled with subsequent integration of electricity generation sources will further complement the industry landscape.
The pad mounted segment will witness remarkable rise from 2021 to 2027 credited to growing demand for electricity and energy-efficient products. Moreover, the adoption of automated, remote-controlled systems being preferred by discoms will propel the business outlook. The ongoing adoption of renewable energy units along with rising investments in micro-grid infrastructure will further stimulate the industry landscape.
Increasing investments in the shale and cement sectors combined with rising requirement to upgrade old grid infrastructure will augment the market growth across Canada. For instance, in June 2021, the Canadian government set 2035 as the “mandatory target” for the sale of zero-emission SUVs and light-duty trucks, thereby increasing the requirement of electric vehicle charging stations and related infrastructure, driving the business landscape.
The power transformer in North American market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2016 to 2027 for the following segments:
North America Market, By Winding
- Two Winding
- Auto-Transformer Roll-in
North America Market, By Core
North America Market, By Installation
North America Market, By Cooling
North America Market, By Insulation
North America Market, By Phase
North America Market, By Rating
- < 100 MVA
- 101 MVA to 500 MVA
- 501 MVA to 800 MVA
- > 800 MVA
North America Market, By Mounting
North America Market, By Application
- Residential & Commercial
The above information has been provided for the following countries: