Oil-Immersed Transformer
English Public
Market Snapshot.
The market size and share of oil-filled transformers is estimated to be around USD 38.3 billion in 2023, growing at a CAGR of around 6.79% during the forecast period. Furthermore, according to a research analysis of the global oil-filled transformer market, it is expected to reach approximately USD 62.36 billion by 2035.
Market overview.
Oil-filled transformers are a type of transformer that uses oil as a cooling and insulating medium. The windings and magnetic circuits of oil-filled transformers are absorbed by the oil, which has excellent electrical insulating properties and hinders the flow of current in the oil.
Request a sample PDF report here: https://www.sdki.jp/sample-request-61284
Growth factors for the oil-immersed transformer market
1. increasing demand for power drives the growth of the oil-immersed transformer market - increasing demand for power has positively impacted the growth of the oil-immersed transformer market. Increasing demand for electricity has increased the need for efficient and reliable power transmission and distribution systems. Oil-immersed transformers play an important role in this process by boosting and lowering voltage levels, ensuring efficient energy transmission and maintaining grid stability. Furthermore, the demand for oil-immersed transformers has increased significantly due to the expansion of infrastructure such as substations, transmission networks and industrial facilities. In addition, the increasing deployment of renewable energy sources such as wind and solar power generation also requires robust transformer solutions, further fuelling the growth of the oil-immersed transformer market size. For instance, the global power distribution transformer industry is expected to exceed USD 54 billion by the end of 2035, with the oil-immersed transformer power distribution segment accounting for around USD 17 billion in 2022.
2. growing demand for renewable energy will drive oil-immersed transformer market size - according to our oil-immersed transformer market research observations, annual renewable energy capacity additions will increase by 6% to a new record high of approximately 295 GW in 2021. Meanwhile, capacity additions in 2022-2023 will increase by 8% compared to December 2021. Rising demand for renewable energy sources contributes to the growth of the oil-immersed transformer market The integration of renewable energy sources such as wind and solar into the grid requires efficient and reliable transmission and distribution systems. Oil-immersed transformers play a key role in boosting the voltage generated by renewable energy for long-distance transmission and ensuring compatibility with existing grid infrastructure. As the deployment of renewable energy increases, the demand for oil-immersed transformers with higher capacity and improved efficiency is growing. This trend will create new opportunities for the oil-immersed transformer market and will be a key factor in supporting the expansion of renewable energy generation and grid integration.
Key trends in the oil-immersed transformer market
In July 2018, ABB acquired General Electric Industries, a company in the oil-immersed transformer market, for approximately USD 2.6 billion, expanding ABB's global position.
Challenges in the oil-immersed transformer market
One of the major factors likely to restrain the growth of the oil-immersed transformer market is the high cost of oil-immersed transformers during the forecast period. Oil-immersed transformers have additional infrastructure requirements and safety features compared to dry transformers, resulting in higher initial costs. According to our oil-immersed transformer market analysis, the cost of oil maintenance, such as regular oil inspections, sampling and replacement, is considered a major market constraint.
Competitive environment
Key players and manufacturers in the oil-immersed transformer market include General Electric, Schneider Electric, CG Power & Industrial Solutions Company, Fuji Electric Corporation, Toshiba International Corporation, KITASHIBE ELECTRIC CO, com, LS Electric, Lemi Trafo Transformers, METTZ Group, Ormazabal, Celme Srl, Eaton, Kirloskar Electric Company, KOTSONS Pvt. Ltd, ABB, Bharti Heavy Electricals Limited, Jinan Global International Trade Co. The study includes in-depth competitive analysis, company profiles, recent trends and key market strategies of these key players in the global oil-filled transformer market.
For more information on the market research report, visit: https://www.sdki.jp/reports/oil-immersed-transformer-market/61284
The market size and share of oil-filled transformers is estimated to be around USD 38.3 billion in 2023, growing at a CAGR of around 6.79% during the forecast period. Furthermore, according to a research analysis of the global oil-filled transformer market, it is expected to reach approximately USD 62.36 billion by 2035.
Market overview.
Oil-filled transformers are a type of transformer that uses oil as a cooling and insulating medium. The windings and magnetic circuits of oil-filled transformers are absorbed by the oil, which has excellent electrical insulating properties and hinders the flow of current in the oil.
Request a sample PDF report here: https://www.sdki.jp/sample-request-61284
Growth factors for the oil-immersed transformer market
1. increasing demand for power drives the growth of the oil-immersed transformer market - increasing demand for power has positively impacted the growth of the oil-immersed transformer market. Increasing demand for electricity has increased the need for efficient and reliable power transmission and distribution systems. Oil-immersed transformers play an important role in this process by boosting and lowering voltage levels, ensuring efficient energy transmission and maintaining grid stability. Furthermore, the demand for oil-immersed transformers has increased significantly due to the expansion of infrastructure such as substations, transmission networks and industrial facilities. In addition, the increasing deployment of renewable energy sources such as wind and solar power generation also requires robust transformer solutions, further fuelling the growth of the oil-immersed transformer market size. For instance, the global power distribution transformer industry is expected to exceed USD 54 billion by the end of 2035, with the oil-immersed transformer power distribution segment accounting for around USD 17 billion in 2022.
2. growing demand for renewable energy will drive oil-immersed transformer market size - according to our oil-immersed transformer market research observations, annual renewable energy capacity additions will increase by 6% to a new record high of approximately 295 GW in 2021. Meanwhile, capacity additions in 2022-2023 will increase by 8% compared to December 2021. Rising demand for renewable energy sources contributes to the growth of the oil-immersed transformer market The integration of renewable energy sources such as wind and solar into the grid requires efficient and reliable transmission and distribution systems. Oil-immersed transformers play a key role in boosting the voltage generated by renewable energy for long-distance transmission and ensuring compatibility with existing grid infrastructure. As the deployment of renewable energy increases, the demand for oil-immersed transformers with higher capacity and improved efficiency is growing. This trend will create new opportunities for the oil-immersed transformer market and will be a key factor in supporting the expansion of renewable energy generation and grid integration.
Key trends in the oil-immersed transformer market
In July 2018, ABB acquired General Electric Industries, a company in the oil-immersed transformer market, for approximately USD 2.6 billion, expanding ABB's global position.
Challenges in the oil-immersed transformer market
One of the major factors likely to restrain the growth of the oil-immersed transformer market is the high cost of oil-immersed transformers during the forecast period. Oil-immersed transformers have additional infrastructure requirements and safety features compared to dry transformers, resulting in higher initial costs. According to our oil-immersed transformer market analysis, the cost of oil maintenance, such as regular oil inspections, sampling and replacement, is considered a major market constraint.
Competitive environment
Key players and manufacturers in the oil-immersed transformer market include General Electric, Schneider Electric, CG Power & Industrial Solutions Company, Fuji Electric Corporation, Toshiba International Corporation, KITASHIBE ELECTRIC CO, com, LS Electric, Lemi Trafo Transformers, METTZ Group, Ormazabal, Celme Srl, Eaton, Kirloskar Electric Company, KOTSONS Pvt. Ltd, ABB, Bharti Heavy Electricals Limited, Jinan Global International Trade Co. The study includes in-depth competitive analysis, company profiles, recent trends and key market strategies of these key players in the global oil-filled transformer market.
For more information on the market research report, visit: https://www.sdki.jp/reports/oil-immersed-transformer-market/61284
by akiariku
Vocabulary List
- 0
