Solar Transformer Market Scope and Size by 2031
The global solar (PV) transformer market is expected to grow due to the rising need for energy. The demand for renewable energy is increasing owing to clear guidelines and policies provided by the government of developed regions worldwide. The key market players continuously strive to grow and develop the global solar (PV) transformer market. As a result, the global solar (PV) transformer market is expected to expand over the forecast period. Another factor driving the worldwide solar (PV) transformer market is the rising number of house loans and renovation projects in developed and developing countries. Furthermore, business owners are accepting and implementing solar (PV) inverters on a broad scale due to the low cost and tax benefits of solar (PV) transformers. All these factors contribute to the growth of the global solar (PV) transformer market.
MARKET SCOPE
The "Global Solar Transformer Market Analysis to 2031" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on global market trend analysis. The report aims to provide an overview of the solar transformer market with detailed market segmentation by type, application, and geography. The global Solar transformer market is expected to witness rapid growth during the forecast period. The report provides key statistics on the market status of the leading Solar transformer market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global solar transformer market is segmented by type, and application.
MARKET DYNAMICS
Drivers:
- The rising number of solar installations attributed to government-led incentives and schemes propel the demand for solar transformers, which drives the market growth.
- High initial cost may hamper the market growth.
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 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's 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 demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. 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 automotive connector's market in these regions.
IMPACT OF COVID-19
The Delay in solar transformers Projects has Harmed the solar transformer Market Growth due to the COVID-19 pandemic. The market has suffered a detrimental impact owing to the unparalleled spread of the COVID-19 pandemic. The project delays led to an increase in the overall costs of projects, which has negatively impacted the market. The imposition of strict curfews and lockdowns worldwide led to restricted economic and social activities, aggravating the situation. In Aug 2022, Enel Spa Introduced a new electric transformer for use in solar parks: it's specially designed to function with biodegradable fluids, produces lower CO2 emissions, and requires fewer materials for its construction. Eliminating CO2 emissions from its value chain - a goal the company is committed to achieving by 2040 - means selecting a huge number of ideas and proposals and transforming them into practical solutions that can make all of the tools and equipment the company uses to generate renewable energy, including the grids themselves, truly sustainable. These developments in the market might help the market to recover from the covid-19 disruptions over the forecast period.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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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 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's 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 demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. 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 automotive connector's market in these regions.
IMPACT OF COVID-19
The Delay in solar transformers Projects has Harmed the solar transformer Market Growth due to the COVID-19 pandemic. The market has suffered a detrimental impact owing to the unparalleled spread of the COVID-19 pandemic. The project delays led to an increase in the overall costs of projects, which has negatively impacted the market. The imposition of strict curfews and lockdowns worldwide led to restricted economic and social activities, aggravating the situation. In Aug 2022, Enel Spa Introduced a new electric transformer for use in solar parks: it's specially designed to function with biodegradable fluids, produces lower CO2 emissions, and requires fewer materials for its construction. Eliminating CO2 emissions from its value chain - a goal the company is committed to achieving by 2040 - means selecting a huge number of ideas and proposals and transforming them into practical solutions that can make all of the tools and equipment the company uses to generate renewable energy, including the grids themselves, truly sustainable. These developments in the market might help the market to recover from the covid-19 disruptions over the forecast period.
MARKET PLAYERS
The reports cover key developments in the solar 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 business and customer base of market players. The market players from solar transformer market are anticipated to lucrative growth opportunities in the future with the rising demand for solar transformer in the global market. Below mentioned is the list of few companies engaged in the solar transformer market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the solar 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 three years, the key development in the past five years.
- ABB
- Ormazabal Velatia
- OREX
- Olsun Electrics
- Núcleo ATS
- Northern Transformer
- Noratel
- Ningbo Wanji Electronics Science and Technology
- ABC Transformers
- Marsons
- LiYou Electrification
- Guangdong NRE Technology
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Solar Transformer Market - By Type
1.3.2 Solar Transformer Market - By Application
1.3.3 Solar Transformer Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SOLAR TRANSFORMER MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. SOLAR TRANSFORMER MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SOLAR TRANSFORMER MARKET - GLOBAL MARKET ANALYSIS
6.1. SOLAR TRANSFORMER - GLOBAL MARKET OVERVIEW
6.2. SOLAR TRANSFORMER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. SOLAR TRANSFORMER MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. 0-35KV
7.3.1. Overview
7.3.2. 0-35KV Market Forecast and Analysis
7.4. 35-110KV
7.4.1. Overview
7.4.2. 35-110KV Market Forecast and Analysis
7.5. 110-220KV
7.5.1. Overview
7.5.2. 110-220KV Market Forecast and Analysis
7.6. 220-330KV
7.6.1. Overview
7.6.2. 220-330KV Market Forecast and Analysis
7.7. 330-500KV
7.7.1. Overview
7.7.2. 330-500KV Market Forecast and Analysis
7.8. ABOVE 500KV
7.8.1. Overview
7.8.2. above 500KV Market Forecast and Analysis
8. SOLAR TRANSFORMER MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. DISTRIBUTION
8.3.1. Overview
8.3.2. Distribution Market Forecast and Analysis
8.4. STATION
8.4.1. Overview
8.4.2. Station Market Forecast and Analysis
8.5. SUB-STATION
8.5.1. Overview
8.5.2. Sub-station Market Forecast and Analysis
8.6. PAD MOUNTED AND GROUNDING
8.6.1. Overview
8.6.2. Pad mounted and Grounding Market Forecast and Analysis
9. SOLAR TRANSFORMER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Solar Transformer Market Overview
9.1.2 North America Solar Transformer Market Forecasts and Analysis
9.1.3 North America Solar Transformer Market Forecasts and Analysis - By Type
9.1.4 North America Solar Transformer Market Forecasts and Analysis - By Application
9.1.5 North America Solar Transformer Market Forecasts and Analysis - By Countries
9.1.5.1 United States Solar Transformer Market
9.1.5.1.1 United States Solar Transformer Market by Type
9.1.5.1.2 United States Solar Transformer Market by Application
9.1.5.2 Canada Solar Transformer Market
9.1.5.2.1 Canada Solar Transformer Market by Type
9.1.5.2.2 Canada Solar Transformer Market by Application
9.1.5.3 Mexico Solar Transformer Market
9.1.5.3.1 Mexico Solar Transformer Market by Type
9.1.5.3.2 Mexico Solar Transformer Market by Application
9.2. EUROPE
9.2.1 Europe Solar Transformer Market Overview
9.2.2 Europe Solar Transformer Market Forecasts and Analysis
9.2.3 Europe Solar Transformer Market Forecasts and Analysis - By Type
9.2.4 Europe Solar Transformer Market Forecasts and Analysis - By Application
9.2.5 Europe Solar Transformer Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Solar Transformer Market
9.2.5.1.1 Germany Solar Transformer Market by Type
9.2.5.1.2 Germany Solar Transformer Market by Application
9.2.5.2 France Solar Transformer Market
9.2.5.2.1 France Solar Transformer Market by Type
9.2.5.2.2 France Solar Transformer Market by Application
9.2.5.3 Italy Solar Transformer Market
9.2.5.3.1 Italy Solar Transformer Market by Type
9.2.5.3.2 Italy Solar Transformer Market by Application
9.2.5.4 United Kingdom Solar Transformer Market
9.2.5.4.1 United Kingdom Solar Transformer Market by Type
9.2.5.4.2 United Kingdom Solar Transformer Market by Application
9.2.5.5 Russia Solar Transformer Market
9.2.5.5.1 Russia Solar Transformer Market by Type
9.2.5.5.2 Russia Solar Transformer Market by Application
9.2.5.6 Rest of Europe Solar Transformer Market
9.2.5.6.1 Rest of Europe Solar Transformer Market by Type
9.2.5.6.2 Rest of Europe Solar Transformer Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Solar Transformer Market Overview
9.3.2 Asia-Pacific Solar Transformer Market Forecasts and Analysis
9.3.3 Asia-Pacific Solar Transformer Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Solar Transformer Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Solar Transformer Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Solar Transformer Market
9.3.5.1.1 Australia Solar Transformer Market by Type
9.3.5.1.2 Australia Solar Transformer Market by Application
9.3.5.2 China Solar Transformer Market
9.3.5.2.1 China Solar Transformer Market by Type
9.3.5.2.2 China Solar Transformer Market by Application
9.3.5.3 India Solar Transformer Market
9.3.5.3.1 India Solar Transformer Market by Type
9.3.5.3.2 India Solar Transformer Market by Application
9.3.5.4 Japan Solar Transformer Market
9.3.5.4.1 Japan Solar Transformer Market by Type
9.3.5.4.2 Japan Solar Transformer Market by Application
9.3.5.5 South Korea Solar Transformer Market
9.3.5.5.1 South Korea Solar Transformer Market by Type
9.3.5.5.2 South Korea Solar Transformer Market by Application
9.3.5.6 Rest of Asia-Pacific Solar Transformer Market
9.3.5.6.1 Rest of Asia-Pacific Solar Transformer Market by Type
9.3.5.6.2 Rest of Asia-Pacific Solar Transformer Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Solar Transformer Market Overview
9.4.2 Middle East and Africa Solar Transformer Market Forecasts and Analysis
9.4.3 Middle East and Africa Solar Transformer Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Solar Transformer Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Solar Transformer Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Solar Transformer Market
9.4.5.1.1 South Africa Solar Transformer Market by Type
9.4.5.1.2 South Africa Solar Transformer Market by Application
9.4.5.2 Saudi Arabia Solar Transformer Market
9.4.5.2.1 Saudi Arabia Solar Transformer Market by Type
9.4.5.2.2 Saudi Arabia Solar Transformer Market by Application
9.4.5.3 U.A.E Solar Transformer Market
9.4.5.3.1 U.A.E Solar Transformer Market by Type
9.4.5.3.2 U.A.E Solar Transformer Market by Application
9.4.5.4 Rest of Middle East and Africa Solar Transformer Market
9.4.5.4.1 Rest of Middle East and Africa Solar Transformer Market by Type
9.4.5.4.2 Rest of Middle East and Africa Solar Transformer Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Solar Transformer Market Overview
9.5.2 South and Central America Solar Transformer Market Forecasts and Analysis
9.5.3 South and Central America Solar Transformer Market Forecasts and Analysis - By Type
9.5.4 South and Central America Solar Transformer Market Forecasts and Analysis - By Application
9.5.5 South and Central America Solar Transformer Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Solar Transformer Market
9.5.5.1.1 Brazil Solar Transformer Market by Type
9.5.5.1.2 Brazil Solar Transformer Market by Application
9.5.5.2 Argentina Solar Transformer Market
9.5.5.2.1 Argentina Solar Transformer Market by Type
9.5.5.2.2 Argentina Solar Transformer Market by Application
9.5.5.3 Rest of South and Central America Solar Transformer Market
9.5.5.3.1 Rest of South and Central America Solar Transformer Market by Type
9.5.5.3.2 Rest of South and Central America Solar Transformer Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SOLAR TRANSFORMER MARKET, KEY COMPANY PROFILES
11.1. ABB
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ORMAZABAL VELATIA
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. OREX
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. OLSUN ELECTRICS
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. NúCLEO ATS
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. NORTHERN TRANSFORMER
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. NORATEL
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. NINGBO WANJI ELECTRONICS SCIENCE AND TECHNOLOGY
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. ABC TRANSFORMERS
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. MARSONS
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
11.11. LIYOU ELECTRIFICATION
11.11.1. Key Facts
11.11.2. Business Description
11.11.3. Products and Services
11.11.4. Financial Overview
11.11.5. SWOT Analysis
11.11.6. Key Developments
11.12. GUANGDONG NRE TECHNOLOGY
11.12.1. Key Facts
11.12.2. Business Description
11.12.3. Products and Services
11.12.4. Financial Overview
11.12.5. SWOT Analysis
11.12.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. ABB
2. Ormazabal Velatia
3. OREX
4. Olsun Electrics
5. Núcleo ATS
6. Northern Transformer
7. Noratel
8. Ningbo Wanji Electronics Science and Technology
9. ABC Transformers
10. Marsons
11. LiYou Electrification
12. Guangdong NRE Technology
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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