Transformers Market SWOT Analysis by 2031
The transformer is used to transfer electrical energy from one electrical circuit to other circuits. A growing number of load centers across the world is one of the major drivers of the transformers market. Technological advancements and growing digitization are rising demand for the low and medium voltage electric infrastructure which positively influences the transformers market growth. Increasing implementations of smart grids and growing initiatives to rebuild the existing energy infrastructure support the growth of the transformers market.
MARKET DYNAMICS
The growing consumption of electricity is increasing the demand for electricity which propels the growth of the transformers market. Increasing deployment and standardization of energy-efficient electric supply systems is further booming the growth of the transformers market. Rapid expansion in the long route transmission network is expected to drive the growth of the transformers market. Moreover, increasing investment in the energy infrastructures by governments provides a lucrative opportunity for the market player of the transformers market.
MARKET SCOPE
The "Global Transformers Market Analysis to 2031" is a specialized and in-depth study of the transformers industry with a special focus on the global market trend analysis. The report aims to provide an overview transformers market with detailed market segmentation by type, cooling type, rating, and geography. The global transformers market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading transformers market players and offers key trends and opportunities in the transformers market.
MARKET SEGMENTATION
The global transformers market is segmented on the basis of type, cooling type, rating. On the basis type the market is segmented as power transformer, distribution transformer, others. On the basis cooling type the market is segmented as oil-cooled, air-cooled. On the basis rating the market is segmented as below 100 MVA, 100-600 MVA, Above 600 MVA.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global transformers market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The transformers market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting transformers market from both demand and supply side and further evaluates market dynamics effecting 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 effecting the transformers market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global transformers market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The transformers market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting transformers market from both demand and supply side and further evaluates market dynamics effecting 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 effecting the transformers market in these regions.
MARKET PLAYERS
The reports cover key developments in the transformers 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 way for expansion of business and customer base of market players. The market players from transformers market are anticipated to lucrative growth opportunities in the future with the rising demand for transformers in the global market. Below mentioned is the list of few companies engaged in the transformers market.
The report also includes the profiles of key transformers companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- ABB
- General Electric Company
- Hitachi T&D Solutions, Inc.
- Hyosung Heavy Industries
- Hyundai Electric & Energy Systems Co., Ltd.
- Mitsubishi Electric Corporation
- Schneider Electric SE
- Siemens AG
- SPX Transformer Solutions Inc.
- Toshiba International Corporation
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- 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 Transformers Market - By Type
1.3.2 Transformers Market - By Cooling Type
1.3.3 Transformers Market - By Rating
1.3.4 Transformers Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. TRANSFORMERS 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. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. TRANSFORMERS 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. TRANSFORMERS MARKET - GLOBAL MARKET ANALYSIS
6.1. TRANSFORMERS - GLOBAL MARKET OVERVIEW
6.2. TRANSFORMERS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. TRANSFORMERS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. POWER TRANSFORMER
7.3.1. Overview
7.3.2. Power Transformer Market Forecast and Analysis
7.4. DISTRIBUTION TRANSFORMER
7.4.1. Overview
7.4.2. Distribution Transformer Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. TRANSFORMERS MARKET - REVENUE AND FORECASTS TO 2028 - COOLING TYPE
8.1. OVERVIEW
8.2. COOLING TYPE MARKET FORECASTS AND ANALYSIS
8.3. OIL-COOLED
8.3.1. Overview
8.3.2. Oil-Cooled Market Forecast and Analysis
8.4. AIR-COOLED
8.4.1. Overview
8.4.2. Air-Cooled Market Forecast and Analysis
9. TRANSFORMERS MARKET - REVENUE AND FORECASTS TO 2028 - RATING
9.1. OVERVIEW
9.2. RATING MARKET FORECASTS AND ANALYSIS
9.3. BELOW 100 MVA
9.3.1. Overview
9.3.2. Below 100 MVA Market Forecast and Analysis
9.4. 100-600 MVA
9.4.1. Overview
9.4.2. 100-600 MVA Market Forecast and Analysis
9.5. ABOVE 600 MVA
9.5.1. Overview
9.5.2. Above 600 MVA Market Forecast and Analysis
10. TRANSFORMERS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Transformers Market Overview
10.1.2 North America Transformers Market Forecasts and Analysis
10.1.3 North America Transformers Market Forecasts and Analysis - By Type
10.1.4 North America Transformers Market Forecasts and Analysis - By Cooling Type
10.1.5 North America Transformers Market Forecasts and Analysis - By Rating
10.1.6 North America Transformers Market Forecasts and Analysis - By Countries
10.1.6.1 United States Transformers Market
10.1.6.1.1 United States Transformers Market by Type
10.1.6.1.2 United States Transformers Market by Cooling Type
10.1.6.1.3 United States Transformers Market by Rating
10.1.6.2 Canada Transformers Market
10.1.6.2.1 Canada Transformers Market by Type
10.1.6.2.2 Canada Transformers Market by Cooling Type
10.1.6.2.3 Canada Transformers Market by Rating
10.1.6.3 Mexico Transformers Market
10.1.6.3.1 Mexico Transformers Market by Type
10.1.6.3.2 Mexico Transformers Market by Cooling Type
10.1.6.3.3 Mexico Transformers Market by Rating
10.2. EUROPE
10.2.1 Europe Transformers Market Overview
10.2.2 Europe Transformers Market Forecasts and Analysis
10.2.3 Europe Transformers Market Forecasts and Analysis - By Type
10.2.4 Europe Transformers Market Forecasts and Analysis - By Cooling Type
10.2.5 Europe Transformers Market Forecasts and Analysis - By Rating
10.2.6 Europe Transformers Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Transformers Market
10.2.6.1.1 Germany Transformers Market by Type
10.2.6.1.2 Germany Transformers Market by Cooling Type
10.2.6.1.3 Germany Transformers Market by Rating
10.2.6.2 France Transformers Market
10.2.6.2.1 France Transformers Market by Type
10.2.6.2.2 France Transformers Market by Cooling Type
10.2.6.2.3 France Transformers Market by Rating
10.2.6.3 Italy Transformers Market
10.2.6.3.1 Italy Transformers Market by Type
10.2.6.3.2 Italy Transformers Market by Cooling Type
10.2.6.3.3 Italy Transformers Market by Rating
10.2.6.4 United Kingdom Transformers Market
10.2.6.4.1 United Kingdom Transformers Market by Type
10.2.6.4.2 United Kingdom Transformers Market by Cooling Type
10.2.6.4.3 United Kingdom Transformers Market by Rating
10.2.6.5 Russia Transformers Market
10.2.6.5.1 Russia Transformers Market by Type
10.2.6.5.2 Russia Transformers Market by Cooling Type
10.2.6.5.3 Russia Transformers Market by Rating
10.2.6.6 Rest of Europe Transformers Market
10.2.6.6.1 Rest of Europe Transformers Market by Type
10.2.6.6.2 Rest of Europe Transformers Market by Cooling Type
10.2.6.6.3 Rest of Europe Transformers Market by Rating
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Transformers Market Overview
10.3.2 Asia-Pacific Transformers Market Forecasts and Analysis
10.3.3 Asia-Pacific Transformers Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Transformers Market Forecasts and Analysis - By Cooling Type
10.3.5 Asia-Pacific Transformers Market Forecasts and Analysis - By Rating
10.3.6 Asia-Pacific Transformers Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Transformers Market
10.3.6.1.1 Australia Transformers Market by Type
10.3.6.1.2 Australia Transformers Market by Cooling Type
10.3.6.1.3 Australia Transformers Market by Rating
10.3.6.2 China Transformers Market
10.3.6.2.1 China Transformers Market by Type
10.3.6.2.2 China Transformers Market by Cooling Type
10.3.6.2.3 China Transformers Market by Rating
10.3.6.3 India Transformers Market
10.3.6.3.1 India Transformers Market by Type
10.3.6.3.2 India Transformers Market by Cooling Type
10.3.6.3.3 India Transformers Market by Rating
10.3.6.4 Japan Transformers Market
10.3.6.4.1 Japan Transformers Market by Type
10.3.6.4.2 Japan Transformers Market by Cooling Type
10.3.6.4.3 Japan Transformers Market by Rating
10.3.6.5 South Korea Transformers Market
10.3.6.5.1 South Korea Transformers Market by Type
10.3.6.5.2 South Korea Transformers Market by Cooling Type
10.3.6.5.3 South Korea Transformers Market by Rating
10.3.6.6 Rest of Asia-Pacific Transformers Market
10.3.6.6.1 Rest of Asia-Pacific Transformers Market by Type
10.3.6.6.2 Rest of Asia-Pacific Transformers Market by Cooling Type
10.3.6.6.3 Rest of Asia-Pacific Transformers Market by Rating
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Transformers Market Overview
10.4.2 Middle East and Africa Transformers Market Forecasts and Analysis
10.4.3 Middle East and Africa Transformers Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Transformers Market Forecasts and Analysis - By Cooling Type
10.4.5 Middle East and Africa Transformers Market Forecasts and Analysis - By Rating
10.4.6 Middle East and Africa Transformers Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Transformers Market
10.4.6.1.1 South Africa Transformers Market by Type
10.4.6.1.2 South Africa Transformers Market by Cooling Type
10.4.6.1.3 South Africa Transformers Market by Rating
10.4.6.2 Saudi Arabia Transformers Market
10.4.6.2.1 Saudi Arabia Transformers Market by Type
10.4.6.2.2 Saudi Arabia Transformers Market by Cooling Type
10.4.6.2.3 Saudi Arabia Transformers Market by Rating
10.4.6.3 U.A.E Transformers Market
10.4.6.3.1 U.A.E Transformers Market by Type
10.4.6.3.2 U.A.E Transformers Market by Cooling Type
10.4.6.3.3 U.A.E Transformers Market by Rating
10.4.6.4 Rest of Middle East and Africa Transformers Market
10.4.6.4.1 Rest of Middle East and Africa Transformers Market by Type
10.4.6.4.2 Rest of Middle East and Africa Transformers Market by Cooling Type
10.4.6.4.3 Rest of Middle East and Africa Transformers Market by Rating
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Transformers Market Overview
10.5.2 South and Central America Transformers Market Forecasts and Analysis
10.5.3 South and Central America Transformers Market Forecasts and Analysis - By Type
10.5.4 South and Central America Transformers Market Forecasts and Analysis - By Cooling Type
10.5.5 South and Central America Transformers Market Forecasts and Analysis - By Rating
10.5.6 South and Central America Transformers Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Transformers Market
10.5.6.1.1 Brazil Transformers Market by Type
10.5.6.1.2 Brazil Transformers Market by Cooling Type
10.5.6.1.3 Brazil Transformers Market by Rating
10.5.6.2 Argentina Transformers Market
10.5.6.2.1 Argentina Transformers Market by Type
10.5.6.2.2 Argentina Transformers Market by Cooling Type
10.5.6.2.3 Argentina Transformers Market by Rating
10.5.6.3 Rest of South and Central America Transformers Market
10.5.6.3.1 Rest of South and Central America Transformers Market by Type
10.5.6.3.2 Rest of South and Central America Transformers Market by Cooling Type
10.5.6.3.3 Rest of South and Central America Transformers Market by Rating
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. TRANSFORMERS MARKET, KEY COMPANY PROFILES
12.1. ABB
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. GENERAL ELECTRIC COMPANY
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. HITACHI T AND D SOLUTIONS, INC.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. HYOSUNG HEAVY INDUSTRIES
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. HYUNDAI ELECTRIC AND ENERGY SYSTEMS CO., LTD.
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. MITSUBISHI ELECTRIC CORPORATION
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. SCHNEIDER ELECTRIC SE
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. SIEMENS AG
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. SPX TRANSFORMER SOLUTIONS INC.
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. TOSHIBA INTERNATIONAL CORPORATION
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. ABB
2. General Electric Company
3. Hitachi T and D Solutions, Inc.
4. Hyosung Heavy Industries
5 .Hyundai Electric and Energy Systems Co., Ltd.
6. Mitsubishi Electric Corporation
7. Schneider Electric SE
8. Siemens AG
9. SPX Transformer Solutions Inc.
10. Toshiba International Corporation
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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