Lucintel Forecasts Specialty Transformer Market to Reach $XX Billion by 2027

According to the recent study the specialty transformer market is projected to reach an estimated $XX billion by 2027 from $XX billion in 2022, at a CAGR of 9% to 11% from 2022 to 2027. Growth in this market is primarily driven by increasing demand for high power in industries such as oil & gas, metal & mining, chemical, & steel, and favourable government policies to increase electrification.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in specialty transformer market by product type (electric arc furnace transformer, rectifier transformer, capacitive transformer, and phase shifting transformer), application (rectification equipment, welding equipment, electric furnace power supply, and current transformer) and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Phase shifting transformer market is expected to remain the largest segment during the forecast period.”

Based on product type, the specialty transformer market is segmented into electric arc furnace transformer, rectifier transformer, capacitive transformer, and phase shifting transformer. Lucintel forecasts that the phase shifting transformer market is expected to remain the largest segment due to protection of lines and transformers from thermal overload, which further helps in improving the stability of transmission system, and controls flow of power between different networks, for parallel long distance overhead-lines or for parallel cables.

“Within the specialty transformer market, the rectification equipment segment is expected to remain the largest application”

Based on application the rectification equipment segment is expected to witness the highest growth over the forecast period due to uplifting the voltage from the network to the application level so that current can be maximized.

“Asia pacific will dominate the specialty transformer market in near future”

APAC will remain the largest region due to growing demand for oil & gas in emerging economies such as India and China further lead to increasing number of oil and gas plants in the region.

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Major players of specialty transformer market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Mitsubishi Electric Corporation, Sunten Electric Equipment Co. Ltd., Siemens Ltd., Alstom, Schneider Electric, ABB, Wolong Electric Group Co.,Ltd., Toshiba India Pvt. Ltd., TBEA India, Baoding Tianwei Group, Wuzhou Transformer Co., Ltd., Jinan XD Special Transformer Co.,Ltd.  are among the major specialty transformer providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/specialty-transformer-market.aspx  or [email protected]

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