The era has witnessed advancement in almost every sector and the usage of electrically operated systems is continuously increasing. It is projected that the demand for world electricity will be doubled between 2000 and 2030 at an annual growth rate of 2.4% (largest in developing countries). Power transformers are considered as the strategic components of any power system than how it can get unaffected with the new trends and techniques.
Power Transformers are used in transmission networks for stepping up and stepping down the voltage level. They transfer energy from one circuit to another through inductive coupling. Normally, the size of power transformers is huge and they operate at full efficiency. With increasing demand, an observable change has been noticed and major industrial units are looking ahead to enhance the capacity of nuclear-operated power transformers. Hence, the capacity of these transformers is witnessing an uprising trend. To meet up with the increased demand, the leading manufacturing companies are coming up with innovative concepts and better ideas stimulated with technical involvement.
The expanding deployment of renewable infrastructure for power generation and the up-gradation along the expansion of existing grid infrastructure drives the market of the power transformers. However, the cost of installation and the complexity of the logistics can act as restraints for the trending market. In terms of categories, the trending market can witness the influx of some categories including phase-shifting transformers, coupling transformers, HVDC converter transformers, and mobile transformers.
Here are the considered factors that will help to expand the trends of power transformers during the forecasted period.
- Increasing urbanization and raising awareness of the climatic condition leads to the usage of power transformers.
- The growing factories and the spectacular introduction and implementation of electric vehicles.
- The large power transformers varied in distribution and transmission network expands the usage of the power transformers.
- Asia-Pacific is one of the significant markets with the highest terawatt hour of electricity generation. With the increasing demand for cross-border transmission and leads to utilization of renewable resources, the market is expected to trend during the forecasted period.
- The electricity demand for the Asia-Pacific region is to increase by nearly 11,000 terawatts by 2025, which will boost the power transformer market.
- China and India are the largest markets in the region. By 2020, China is expected to execute nearly 30 gigawatts (GW) of wind and 60 GW of solar projects.
In terms of the Market Trends, the power transformers account for the largest share in the market. Although the developed countries globally are replacing old power transformers to ensure an efficient electricity supply. The market is expected to grow in the forecast period with eco-friendly large power transformers.
Globalization has commenced the era of advancement and digitalization that directly leads to the size of the growth market. The industry leaders and manufacturers are continuously working and contributing to the innovative, safe, and environment-friendly environment devices that can fulfill the vision of long-term sustainability.
ETT (Electro-Tech Transmission Pvt. Ltd) is Central India’s power transformer manufacturing company focusing on sustainable and eco-friendly equipment designs. The company has the best professionals for manufacturing, installation, and after-sales services. The company is registered with NSIC and the entire product range is compliant with the guidelines prescribed by BUREAU OF INDIAN STANDARDS (BIS) & Bureau of Energy Efficiency (BEE).