- Green power transformers are eco-friendly, efficient, and cost-effective, as they reduce carbon footprint, since these transformers use vegetable oil instead of mineral oil. Power transformers are more stable and offer high resistance to fire, electricity, & heat.
- Companies are currently investing more in green power transformers, due to stringent rules and regulations enacted by governments to reduce greenhouse gases and carbon emission. Furthermore, an increase in awareness about eco-friendly products in developed countries is expected to propel the demand for green power transformers in the near future.
To gauge the scope of customization in our reports, Ask for a Sample
Key Drivers and Restraints of Global Green Power Transformers Market
- Rise in industrialization and urbanization across the globe is estimated to be a key driver of the green power transformers market. The market has been witnessing a significant increase in the demand for transformers across the world in the last few years, and this increase in demand is expected to drive the green power transformers market.
- Substitute for mineral oil and SF6-based power transformers is a key driver of the green power transformers market. Mineral oil becomes unstable at high voltage and heat, which leads to premature degradation of oils and subsequently, results in reduction in the transformer’s life. SF6 is a highly potent greenhouse gas, as it is 22,800 times more potent than CO2 in trapping heat over 100 years. SF6 if entered into the atmosphere can remain there for 3,200 years. Green power transformers have very less impact on the environment, hence, these transformers acting as a substitute for mineral oil and SF6 transformers is the expected to drive the market.
- Lack of environmental awareness and absence of rules and regulations regarding the use of mineral oil- and SF6 based-power transformers is a key factor restraining the global green power transformers market
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
Global Green Power Transformers Market: Segmentation
- The global green power transformers market can be segmented based on insulation, installation, phase, power rating, and end-user
- Based on insulation, the green power transformers market can be classified into biodegradable oil, air, and solid. The biodegradable oil segment is estimated to expand considerably during the forecast period as biodegradable oil is derived from the renewable vegetable oil, which provides improved fire safety, transformer life, and environmental benefits.
- Based on installation the green power transformers market can be bifurcated into outdoor and indoor. The outdoor segment is estimated to expand at a significant CAGR, owing an increase in development and installation of electric grid development across the globe due to an increase in the demand for electricity.
- In terms of phase, the green power transformers market can be split into single phase and three phase. The three phase segment is projected to expand at a high CAGR during the forecast period, due to a rise in the demand from the industry and utility sectors.
- Based on the power rating, the global market can be segregated into below 100 kVA, 100 kVA - 500 kVA, and above 500 kVA. Demand for the 100 kVA - 500 kVA green power transformers is expected to be on the higher side due to a rise in the demand from the various industry such as oil & gas, automotive, mining, and renewable energy.
- In terms of end-user, the global market can be split into residential, commercial, industrial, and utilities. Industrial and utility segments are expected to lead the market due to a rise in industrialization. This trend is expected to continue during the forecast period.
Global Green Power Transformers Market: Regional Segmentation
- Based on region, the global green power transformers market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific dominated the global green power transformers in 2019. The market in the region is projected to expand during the forecast period, owing to a rise in infrastructure, industrialization, and governments’ initiatives to provide electricity to all parts of the countries such as China and India.
- The market in North America is projected to expand significantly during the forecast period due to rapid increase in infrastructure and industrialization in the U.S. and Canada
- The market in Europe is estimated to expand at a steady pace during the forecast period due to steady industrial and infrastructural development
- The market in Latin America and Middle East & Africa are also projected to expand at a steady pace during the forecast period. This can be ascribe to an increase in investment in grid development in the all major countries in these regions.
Key Players Operating in the Market:
- General Electric
- Schneider Electric
- WESTRAFO SRL
Global Green Power Transformers Market: Research Scope
Global Green Power Transformers Market, by Insulation
- Biodegradable Oil
Global Green Power Transformers Market, by Installation
Global Green Power Transformers Market, by Phase
- Single Phase
- Three Phase
Global Green Power Transformers Market, by Power Rating
- Below 100 kVA
- 100 kVA - 500 kVA
- Above 500 kVA
The Global Green Power Transformers Market, End-user
- Residential & Commercial
The Global Green Power Transformers Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.