Large Power Transformers Market - Snapshot

Increased demand for electrical energy is forecasted to boost the global large power transformers market. A large power transformer or an LPT refers to a custom-built, large piece of equipment that is considered a vital component of the bulk transmission grid. It is due to the high cost and customized specifications, large power transformers are generally produced for extensive spare inventories nor are interchangeable with each other.

The global large power transformers market is forecasted to observe growth due to growing concern for environment. In addition, widening scope of application is expected to further bolster demand for large power transformers in near future.

Rising Demand from Several Industry Verticals is Expected to Shoot up Demand

Large power transformers find ample use in the process of power transmission and power generation, various consumer applications, and electro-intensive industrial applications. Applications of large power transformers can be broadly classified into the following

  • Industrial
  • Commercial
  • Residential

The industrial applications of large power transformers comprise paper and cement mills, substations and power generation, chemical plants, and mining. It also finds ample use in nuclear power plants, thermal power station, and hydel power stations.

Various factors such as rising concern for environment is expected to play an important role in the growth of the global large power transformers market in the years to come.

Global Large Power Transformers Market: Snapshot

Power transformers create a connection between electrical systems or networks of different voltages and further allow power exchange between them. Power transformers are extensively used for power transmission, power generation, electro-intensive industrial applications, and consumer applications. The rising electrification ratio in developing economies and developed economies is predicted to enhance the growth of the global large power transformers market in the next few years.

Environmental Benefits Offered by Large Power Transformers to Enhance Market Growth

According to the market research study by Transparency Market Research, in 2013, the global market for large power transformers was worth US$18.3 bn and is predicted to reach a value of US$18.3 bn by the end of 2020. The market is likely to register a promising 7.80% CAGR between 2014 and 2020. Furthermore, on the basis of volume, in 2013, the market stood at 11,223 units and is likely to reach 18,709 units by the end of 2020. The market is estimated to register a 7.70% CAGR between 2014 and 2020.  

The favorable government rules and regulations for the production of green energy and power is considered as one of the major factors estimated to enhance the growth of the global large power transformers market in the coming few years. The rising environmental concerns related to the need for lower emissions and water conservation in both new and existing power plants is further predicted to accelerate the growth of the market in the near future. In addition to this, the growing focus on innovations and the advent of environmentally friendly products is estimated to support the growth of the market and generate potential growth opportunities for the market players in the next few years. 

Asia Pacific to Register Strong Growth in Global Large Power Transformers Market

From a region outlook, the global large power transformers market has been categorized into Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. In the last few years, Asia Pacific led the market with a significant share and this region is expected to maintain its dominance in the coming few years. The increasing energy demand and the growing focus on technological advancements are the key factors that are predicted to enhance the growth of the Asia Pacific market in the near future. In addition to this, the presence of several new players is another major factor that is likely to accelerate the growth of the market in the coming few years. Furthermore, the Middle East and Africa is predicted to register a promising growth rate in the near future. Furthermore, Europe and North America are likely to observe a steady growth in the coming years, thanks to the rising upgradation initiatives.

The global market for large power transformers has been characterized by a high level of fragmentation, along with the presence of a large number of players operating worldwide. The rising focus of the leading players on technological advancements and innovations, which is predicted to enhance the growth of the overall market in the coming few years. In addition to this, the expansion of the product portfolio is expected to support the market growth in the near future. Some of the key players operating in the large power transformers market across the globe are TBEA Co. Ltd., Alstom SA, Siemens AG, Hyosung Power & Industrial Systems Performance Group, ABB Ltd., General Electric Co, Crompton Greaves Ltd., and Hyundai Heavy Industries Ltd.

Increasing Need for Electrification across Many Regions to Boost the Growth of the Large Power Transformers Market

The booming population numbers and the increasing need for electrical energy due to the same factor will prove to be a prominent growth generating aspect for the large power transformers market during the assessment period of 2014-2020. The rising urbanization and industrialization across various countries are also playing a major role in the growth of the large power transformers market.

  • Large power transformers, abbreviated as LPTs are custom-built, large equipment that forms a critical component of the bulk transmission grid. They have large power capacities that help in seamless power generation and energy transmission functions. The benefits attached to these transformers will invite extensive growth prospects for the large power transformers market. The transformers are also segmented on the basis of power rating analysis mainly 100 MVA-500 MVA, 501 MVA-800 MVA, and 801 MVA-1200 MVA.
  • The overwhelming utilization of renewable energy resources across a large number of countries and regions will serve as a growth-accelerating factor. Green energy has occupied a major place and is playing a significant role in terms of energy conservation. Thus, these aspects will add extra stars of growth.
  • The expanding influence of electrification across many developing economies such as India and China will turn the tables of growth. The governments of these countries are undertaking novel initiatives and schemes that will ensure last-mile electrification. The Indian Government’s Pradhan Mantri Sahaj Bijli Har Ghar Yojana is a classic instance.
  • The COVID-19 pandemic has completely changed the growth projections of numerous sectors and businesses around the world. The large power transformers market is no exception. The rising prevalence of the novel coronavirus transmission across various regions forced many countries to go into stricter lockdowns. These lockdowns led to the closure of diverse manufacturing units and factories. However, the easing of lockdown restrictions will bode well for the growth of the large power transformers market.

Large power transformers connect electrical networks or systems of different voltages to allow power exchange between them. Large power transformers are used for power generation, power transmission, electro-intensive industrial applications and consumer applications. The industrial applications include mining, paper and cement mills, chemical plants, substations and power generation. Various applications of large power transformers include hydel power station, thermal power station, and nuclear power plant among others.

This market research study analyzes the large power transformer market on a global level, and provides estimates in terms of volume (Unit shipment) and revenue (USD Billion) from 2013 to 2020. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years.

The report segments the market on the basis of geography into North America, Europe, Asia Pacific, and Rest of the World (RoW), and estimated in terms of volume (Unit shipment) and revenue (USD Billion). In addition, the report segments the market based on power rating into 100 MVA to 500 MVA large power transformers, 501 MVA to 800 MVA large power transformers and 801 MVA to 1200 MVA large power transformers. Each power rating segment has also been estimated on the basis of geography in terms of volume (Unit shipment) and revenue (USD Billion).

Asia Pacific and Rest of the World economies are expected to be the most attractive and fastest growing regions. The growth of the global large power transformers market is attributed to the increasing demand for electricity in both the mature and emerging economies of the world. Increasing industrialization and modernization is enhancing the demand for large power transformers globally. Most widely used large power transformers globally are the segment with power rating 100 MVA to 500 MVA. This segment is expected to constantly dominate the global large power transformers market during the forecast period. large power transformers between the power ratings of 801 MVA and 1200 MVA are expected to be used for HVDC and UHVDC power generation in the Asia Pacific and Middle East regions on account of rising energy demands in these regions in the near future.

The governments across the world are undertaking initiatives to modernize the existing power grids and install technologically enhanced power transformers. The initiatives adopted by the European nations for the deployment of green transformers is also providing substantial positive shift to the global large power transformers market. However, the market also encounters certain economic restraints such as the volatility of the raw material prices in the international markets.

For better understanding of the global large power transformers market, we have given detailed analysis of the PESTLE and value chain. Moreover, a detailed Porter’s five forces analysis has been given for a better understanding of the intensity of competition present in the market. Furthermore, the study comprises of a market attractiveness analysis, where the applications are benchmarked based on their market scope, growth rate and general attractiveness. Awareness about the low carbon emission transformers is growing worldwide and offer growth opportunities in the future. Smart grids and smart networks are also enhancing the market opportunities for the large power transformers market during the forecast period.

The report provides company market share analysis of the various industry participants. Key players have also been profiled on the basis of company overview, financial overview, business strategies, SWOT analysis, and recent developments in the field of power transformers. Major market participants profiled in this report include ABB Ltd., Alstom SA, Crompton Greaves Ltd., Siemens AG, GE Co, Hyosung Power & Industrial Systems Performance Group, Hyundai Heavy Industries Co. Ltd., and TBEA Co. Ltd. among others.

Large Power Transformers Market: Power Rating Analysis

  • 100 MVA to 500 MVA
  • 501 MVA to 800 MVA
  • 801 MVA to 1200 MVA

Large Power Transformers Market: Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • RoW

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
  • Europe
  • 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.

 

Chapter 1 Preface

1.1 Report Description

1.2 Research Scope

1.3 Research Methodology

 

Chapter 2 Executive Summary

 

Chapter 3 Market Overview

3.1 Introduction

3.2 Global PESTLE Analysis

       3.2.1 Political:

       3.2.2 Economic:

       3.2.3 Social:

       3.2.4 Technological:

       3.2.5 Environmental:

       3.2.6 Legal:

3.3 Market Drivers

       3.3.1 Increase in global energy demands

       3.3.2 Favorable government regulations

       3.3.3 Renewal and upgrading of existing networks in mature economies

3.4 Market Restraints

       3.4.1 Volatility in raw material prices

3.5 Market opportunities

       3.5.1 Awareness about low carbon emissions driving the development of smart grid and super grid

3.6 Value chain analysis

3.7 Porter’s Five Forces Analysis

       3.7.1 Bargaining power of suppliers

       3.7.2 Bargaining power of buyers

       3.7.3 Threat of new entrants

       3.7.4 Threat from substitutes

       3.7.5 Degree of competition

3.8 Large Power transformers: Market attractiveness analysis

3.9 Large Power transformers: Company market share analysis

 

Chapter 4 Large Power Transformers Market - Power Rating Analysis

4.1 Introduction

4.2 100 MVA to 500 MVA

       4.2.1 100 MVA to 500 MVA large power transformers market, volume and revenue, 2013 – 2020, (Unit shipment) (USD Billion)

4.3 501 MVA to 800 MVA

       4.3.1 501 MVA to 800 MVA large power transformers market, volume and revenue, 2013 – 2020, (Unit shipment) (USD Billion)

4.4 801 MVA to 1200 MVA

       4.4.1 801 MVA to 1200 MVA large power transformers market, volume and revenue, 2013 – 2020, (Unit shipment) (USD Billion)

 

Chapter 5 Large Power Transformers Market - Regional Analysis

5.1 Introduction

       5.1.1 Global large power transformers market revenue share, by geography, 2013 and 2020 (%)

5.2 North America

       5.2.1 North America large power transformers market, volume and revenue, 2013 – 2020, (Unit shipment) (USD Billion)

5.3 Europe

       5.3.1 Europe large power transformers market, volume and revenue, 2013 – 2020, (Unit shipment) (USD Billion)

5.4 Asia Pacific

       5.4.1 Asia Pacific large power transformers market, volume and revenue, 2013 – 2020, (Unit shipment) (USD Billion)

5.5 Rest of the World (RoW)

       5.5.1 Rest of the World large power transformers market, volume and revenue, 2013 – 2020, (Unit shipment) (USD Billion)

 

Chapter 6 Company Profiles

6.1 ABB Ltd.

       6.1.1 Company overview

       6.1.2 Financial overview

       6.1.3 Business strategy

       6.1.4 SWOT analysis

       6.1.5 Recent developments

6.2 Alstom SA

       6.2.1 Company overview

       6.2.2 Financial overview

       6.2.3 Business strategy

       6.2.4 SWOT analysis

       6.2.5 Recent developments

6.3 Crompton Greaves Ltd.

       6.3.1 Company overview

       6.3.2 Financial overview

       6.3.3 Business strategy

       6.3.4 SWOT analysis

       6.3.5 Recent developments

6.4 GE Co.

       6.4.1 Company overview

       6.4.2 Financial overview

       6.4.3 Business strategy

       6.4.4 SWOT analysis

       6.4.5 Recent developments

6.5 Hyosung Power & Industrial Systems Performance Group

       6.5.1 Company overview

       6.5.2 Financial overview

       6.5.3 Business strategy

       6.5.4 SWOT analysis

       6.5.5 Recent developments

6.6 Hyundai Heavy Industries Co. Ltd.

       6.6.1 Company overview

       6.6.2 Financial overview

       6.6.3 Business strategy

       6.6.4 SWOT analysis

       6.6.5 Recent developments

6.7 Siemens Energy       

       6.7.1 Company overview

       6.7.2 Financial overview

       6.7.3 Business strategy

       6.7.4 SWOT analysis

       6.7.5 Recent developments

6.8 SGB-SMIT International GmbH.

       6.8.1 Company overview

       6.8.2 Financial overview

       6.8.3 Business strategy

       6.8.4 SWOT analysis

       6.8.5 Recent developments

6.9 Tebian Electric Apparatus (TBEA) Co., Ltd.

       6.9.1 Company overview

       6.9.2 Financial overview

       6.9.3 Business strategy

       6.9.4 SWOT analysis

       6.9.5 Recent developments

6.10 China XD Electric Co., Ltd

       6.10.1 Company overview

       6.10.2 Financial overview

       6.10.3 Business strategy

       6.10.4 SWOT analysis

       6.10.5 Recent developments

List of Tables

 

TABLE 1 Global large power transformers market snapshot, 2013 & 2020

TABLE 2 Drivers for the large power transformers market: Impact analysis

TABLE 3 Restraints for the global large power transformers market: Impact analysis

TABLE 4 North America large power transformers market size and forecast, by Power Rating, 2013 – 2020 (USD billion)

TABLE 5 North America large power transformers market size and forecast, by Power rating, 2013 – 2020 (Unit Shipment)

TABLE 6 North America large power transformers market size and forecast, by Country, 2013 – 2020 (USD billion)

TABLE 7 North America large power transformers market size and forecast, by Country, 2013 – 2020 (Unit Shipment)

TABLE 8 Europe large power transformers market size and forecast, by Power Rating, 2013 – 2020 (USD billion)

TABLE 9 Europe large power transformers market size and forecast, by Power rating, 2013 – 2020 (Unit Shipment)

TABLE 10 Europe large power transformers market size and forecast, by Country, 2013 – 2020 (USD billion)

TABLE 11 Europe large power transformers market size and forecast, by Country, 2013 – 2020 (Unit Shipment)

TABLE 12 Asia Pacific large power transformers market size and forecast, by Power Rating, 2013 – 2020 (USD billion)

TABLE 13 Asia Pacific large power transformers market size and forecast, by Power rating, 2013 – 2020 (Unit Shipment)

TABLE 14 Asia Pacific large power transformers market size and forecast, by Country, 2013 – 2020 (USD billion)

TABLE 15 Asia Pacific large power transformers market size and forecast, by Country, 2013 – 2020 (Unit Shipment)

TABLE 16 RoW large power transformers market size and forecast, by Power Rating, 2013 – 2020 (USD billion)

TABLE 17 RoW large power transformers market size and forecast, by Power rating, 2013 – 2020 (Unit Shipment)

TABLE 18 Rest of the World (RoW) large power transformers market size and forecast, by Country, 2013 – 2020 (USD billion)

TABLE 19 Rest of the World (RoW) large power transformers market size and forecast, by Country, 2013 – 2020 (Unit Shipment)

TABLE 20 Middle East large power transformers market size and forecast, by Country, 2013 – 2020 (USD billion)

TABLE 21 Middle East large power transformers market size and forecast, by Country, 2013 – 2020 (Unit Shipment)

TABLE 22 Africa large power transformers market size and forecast, by Country, 2013 – 2020 (USD billion)

TABLE 23 Africa large power transformers market size and forecast, by Country, 2013 – 2020 (Unit Shipment)

List of Figures

 

FIG. 1 Global large power transformers market, volume and revenue 2013 – 2020 (Unit shipment) (USD Billion)

FIG. 2 Global energy consumption, (Quadrillion British units)

FIG. 3 Global carbon dioxide emissions, 2000 - 2030, (Billion metric tons)

FIG. 4 Global Cold Rolled Coil Steel price volatility, 2012-2013, (USD per ton)

FIG. 5 Global crude oil price volatility, 2008-2012, (USD per barrel)

FIG. 6 Smart grid infrastructure

FIG. 7 Large power transformers market: Value chain analysis

FIG. 8 Porter’s Five Forces Analysis

FIG. 9 Large power transformers: Market attractiveness analysis, 2013

FIG. 10 Large power transformers: Company market share analysis, 2013 (%)

FIG. 11 Global large power transformers market revenue share, by power rating, 2013 and 2020 (%)

FIG. 12 100 MVA to 500 MVA large power transformers market, volume and revenue, 2013 – 2020 (Unit shipment) (USD Billion)

FIG. 13 .501 MVA to 800 MVA large power transformers market, volume and revenue, 2013 – 2020, (Unit shipment) (USD Billion)

FIG. 14 801 MVA to 1200 MVA large power transformers market, volume and revenue, 2013 – 2020, (Unit shipment) (USD Billion)

FIG. 15 Global large power transformers market revenue share, by geography, 2013 and 2020 (%)

FIG. 16 North America large power transformers market, volume and revenue, 2013 – 2020 (Unit shipment) (USD Billion)

FIG. 17 Europe large power transformers market, volume and revenue, 2013 – 2020 (Unit shipment) (USD Billion)

FIG. 18 Asia Pacific large power transformers market, volume and revenue, 2013 – 2020 (Unit shipment) (USD Billion)

FIG. 19 Rest of the World large power transformers market, volume and revenue, 2013 – 2020 (Unit shipment) (USD Billion)

FIG. 20 ABB Ltd. annual revenue and power products segment revenue, 2012 – 2014 (USD Billion)

FIG. 21 Alstom SA annual revenue and grid sector revenue, 2012 – 2014 (USD Billion)

FIG. 22 Crompton Greaves Ltd. annual revenue and power systems segment revenue, 2012 – 2014 (USD Billion)

FIG. 23 GE Co. annual revenue and energy management segment revenue , 2012 – 2014 (USD Billion)

FIG. 24 Hyosung Corporation annual revenue, 2012 – 2014 (USD Billion)

FIG. 25 Hyundai Heavy Industries Co. Ltd. annual revenue and electro electric systems segment revenue, 2012 – 2014 (USD Billion)

FIG. 26 Siemens Energy annual revenue and power transmission device segment revenue, 2012 – 2014 (USD Billion)

FIG. 27 TBEA Co., Ltd. annual revenue, 2011-2013 (USD Billion)

FIG. 28 China XD Electric Co., Ltd. annual revenue, 2011-2013 (USD Billion)

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Power Transformer Market