WILMINGTON, DE , UNITED STATES, August 1, 2024 /EINPresswire.com/ -- Power transformers, critical part of power infrastructure, are expected to witness significant growth in the coming years. This is due to the demand for electricity throughout the Asia-Pacific is on a consistent increase. Moreover, the region is moving toward green energy as there is an increase in utilization of renewable and non-conventional energy resources, such as wind, solar, and hydel energy. To meet the growth in demand for electricity, widening of transmission networks is taking place. These factors are expected to contribute significantly to the growth of the Asia-Pacific power transformer (<100 MVA) market. Some of the restraints associated with the Asia-Pacific power transformer market are high price of power transformers as well as associated costs, such as land, infrastructure, logistics, and protective instruments. Also, there is lack of consistent demand for high rating segment of power transformers. These costs can be mitigated with lenient government regulations and innovations in manufacturing of power transformers.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:
https://www.alliedmarketresearch.com/request-sample/4548

In the ever-evolving landscape of energy infrastructure, the power transformer market stands as a crucial segment poised for significant expansion. With rapid urbanization, industrialization, and the increasing demand for electricity worldwide, the power transformer market is witnessing a transformative surge. This growth is fueled by a confluence of factors, including technological advancements, renewable energy integration, and infrastructural developments.

The global shift towards renewable energy sources, driven by environmental concerns and governmental policies, is driving the demand for power transformers. Wind and solar power generation require robust infrastructure for transmission and distribution, further boosting the market growth. Additionally, sustainability initiatives worldwide are encouraging the adoption of energy-efficient transformers, fostering market expansion.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐎𝐧 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.alliedmarketresearch.com/checkout-final/3418ed80bccb041bf292bde71eb12264

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The Asia-Pacific power transformer Industry's key market players adopt various strategies such as product launches, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Based on country, the market is analyzed across China, Japan, India, South Korea, Australia, Indonesia, Vietnam, Malaysia, Myanmar, Hong Kong, Macau, Thailand, and rest of Asia-Pacific. China was the highest revenue contributor, valued at $1,532 million in 2016. This country is further expected to attain a market value of $2,534 million by 2023, growing at a CAGR of 7.5%. Moreover, China is expected to maintain its dominant position during the forecast period. India and Thailand are the second and third leading country for Asia-Pacific power transformer (<100 MVA) market, respectively.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲:

China is expected to continue to lead the market throughout 2016 to 2023, followed by India
The power transformer (<100 MVA) market in Australia is projected to register the highest growth from 2016 to 2023
The Asia-Pacific power transformer (<100 MVA) market is projected at a CAGR of 8.1% from 2017 to 2023
Japan was the fourth largest revenue contributor of the Asia-Pacific power transformer (<100 MVA) market in 2016
Hong Kong is projected to register the second highest growth rate from 2016 to 2023

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬:
https://www.alliedmarketresearch.com/request-for-customization/4548

Key Market Trends and Opportunities:

HVDC Technology: High Voltage Direct Current (HVDC) transformers are witnessing increasing deployment, especially in long-distance transmission projects and interconnection of renewable energy sources.
Smart Transformers: The integration of IoT (Internet of Things) technology is driving the development of smart transformers, enabling remote monitoring, predictive maintenance, and dynamic voltage regulation.
Emerging Markets: Asia-Pacific, particularly China and India, represents a lucrative market for power transformers due to rapid industrialization, urbanization, and infrastructural development initiatives.
Grid Modernization: Investments in grid modernization projects, aimed at enhancing the efficiency and reliability of electrical networks, present significant opportunities for market players.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

General Electric Company
CG Power and Industrial Solutions Limited
Siemens AG
Bharat Heavy Electriclas Limited
Toshiba Corporation
Schneider Electric S.E.
Hyundai Heavy Industries Co. Ltd.
Tebian Electric Apparatus Stock Co.Ltd.
Mitsubishi Electric Corporation
ABB Ltd.

David Correa
Allied Market Research
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