The rising demand for electricity due to rapid urbanization in developing countries and the growing expansion of transmission and distribution (T&D) networks to integrate renewable energy sources are the key factors bolstering the growth of the global medium voltage transformer market are. Furthermore, the T&D network is transforming to reduce losses, which necessitates the replacement of electric components, such as medium voltage transformers, which is expected to propel the market during the forecast period.
MARKET SCOPE
The "Global Medium Voltage Transformer Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the medium voltage transformer market with detailed market segmentation by type, mounting, application, and geography. The report provides key statistics on the market status of the leading medium voltage transformer market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the market is segmented into liquid-filled transformer and dry-type transformer.
- Based on mounting, the market is segmented into pad-mounted transformer and pole-mounted transformer.
- Based on application, the market is segmented into residential, commercial, and industrial.
MARKET DYNAMICS
Drivers:
- Increased demand for medium voltage transformers as a result of increased renewable energy generation is boosting the growth of the global medium voltage transformer market.
Restraints:
- The massive investment required to set up and modernize the power transmission and distribution network and a lack of investment limit the growth of the medium voltage transformer market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The medium voltage transformer market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social, and technological factors affecting the medium voltage transformer market in these regions.
IMPACT OF COVID-19 ON MEDIUM VOLTAGE TRANSFORMER MARKET
The COVID-19 pandemic has significantly impacted the energy sector. The major players in the medium voltage transformer market includes ABB, CG Power and Industrial Solutions Limited, and Eaton. COVID-19 has severely impacted their businesses. Manufacturing has slowed due to lockdown regulations, and it has had a significant impact on the power sector's supply chain. The revival of industrial demand, on the other hand, has made it much easier for manufacturers to supply their goods, as well as increased demand from the commercial sector.
MARKET PLAYERS
The report covers key developments in the medium voltage transformer market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market players from the medium voltage transformer market are anticipated to have lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the medium voltage transformer market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ABB
- CG Power and Industrial Solutions Limited
- Eaton
- Fortune Electric Co., Ltd.
- Fuji Electric Co., Ltd.
- General Electric
- Hitachi, Ltd.
- MGM Transformer Company
- Mitsubishi Electric Corporation
- SCHAFFNER HOLDING AG