The industrial control transformer market is expected to grow from an estimated USD 809.2 Million in 2018 to USD 1,039.8 Million by 2023, at a CAGR of 5.14%. The positive growth rate of this market can be attributed to increased usage of industrial control transformers across major industries, booming power sector and augmented power generation capacities worldwide, and need to reduce equipment failure caused by frequent voltage spikes.
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The three-phase segment is expected to hold the largest share of the industrial control transformer market during the forecast period
Three-phase industrial control transformers are mostly used in heavy industrial applications as it can easily carry high power for the operations. Also, the three-phase power transmission requires less copper and aluminum, as compared to single-phase, to transfer a certain amount of power. It is the most economical way of power transmission. Therefore, three-phase industrial control transformer segment is expected to have the largest market size during the forecast period.
The above 1,500 VA power rating industrial control transformers are expected to grow at a high rate during the forecast period
Industrial control transformers installed in above 1,500 VA find application in oil & gas and power generation industries in various power equipment such as drafts fans, compressors pumps, and drillers. In oil & gas industries, this equipment works on critical load requirement and need to be regulated accurately because, in case of voltage inconsistencies, there is a substantial chance of explosions and is thus expected to drive the industrial control transformer market till the forecast period.
Asia Pacific is expected to dominate the industrial control transformer market during the forecast period
In this report, the industrial control transformer market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific is expected to hold the largest share of this market during the forecast period due to industrialization and infrastructural developments majorly in China and India.
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Key Market Players
The players include ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Schneider (France), GE (US), Hubbell (US), Emerson (US), and Rockwell (US).
- In October 2016, ABB introduced a free Total Cost of Ownership (TCO) tool to help customers determine loss capitalization factors, and compare different transformer alternatives from the point of view of total cost and environmental impact.
- In August 2016, Schneider opened a new branch office in Odisha, India. The new office was likely to present the entire portfolio of Schneider Electric products, facilitating world-class services and support to its customers and partners in the region.
- In June 2016, Siemens opened its new corporate headquarters in Munich, Germany. The scope of this expansion was to meet the world’s highest sustainability standards for environmental friendliness and energy efficiency.
- In March 2016, ABB introduced a new transformer production facility in Lodz, Poland. The scope of the investment was to support ABB’s existing transformer manufacturing facilities in Lodz by including machine operators and logistics, purchasing, quality, and engineering support personnel.
- In April 2015, Eaton opened a new manufacturing facility for its electrical business in the Philippines. This new facility was expected to strengthen the company’s position in South-East Asia.
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Critical questions the report answers:
- What are the upcoming trends for the industrial control transformer market?
- Which segment in industrial control transformer market provides the most opportunity for growth?
- Who are the leading vendors operating in this market?
- What are the opportunities for new market entrants in the industrial control transformer market?