Medium Voltage Transformer Market Current and Future Trends, Leading Players, Industry Segments and Regional Forecast

 The report analyzes the medium voltage transformer market and provides critical insights for the forecast period of 2022-2028. The global medium voltage transformer market stands at a net worth of US$ 11.7 Bn in 2022, and is predicted to rise at a CAGR of 4.6% over the forecast period (2022-2028) to attain a valuation of US$ 16.1 Bn by 2028.

According to the report’s key findings, the global medium voltage transformer market is expected to grow significantly in the coming years, owing to the steady increase in smart grid adoption, increasing urbanisation, rapid growth in power generation, and increasing government investments in electrification.

Future Market Insights has published a new market research report on the medium voltage transformer market that contains global industry analysis during and opportunity assessment during 2022–2028. The report covers the latest trends, key success factors, market influencing factors, key information, forecasting factors, macroeconomics factors, and past market scenario.

Increasing Government Investments for Electrification Expected to Drive the Market Growth

Government of various countries have planned to increase their funding for various projects related to electrification, such as railway electrification, transmission and distribution, and urbanization, among others. For instance, governments in countries such as Brazil and Mexico are planning to invest in electrification. These projects support the state electric boards (SEBs) in order to provide better power supply to rural and urban areas of the region or country.

In addition, the government of India is also planning to make huge investments in numerous projects, such as Revised Accelerated Power Development and Reform Program and Rajiv Gandhi Grameen Vidyutikaran Yojna, among others, for establishing new power grids so as to provide electricity in the rural areas of the country. Also, the government is focusing on installing new transmission lines and transformers in order to create a national grid, which will interconnect all the five regions of India — Northern, Southern, Eastern, Western, and North Eastern. This national grid is known as ‘Transmission Super Highways’. Thus, growing infrastructure and electrification in various regions is set to increase the demand for medium voltage transformers.

Increasing Urbanization and Industrialization Estimated to Create High Sales Opportunity

Rural electrification projects, new power plants, as well as transmission and distribution facilities are some of the new developments that are being introduced in various countries in Middle East & Africa to increase urbanization and industrialization. Electrification projects are growing at a faster rate in countries, such as the United Arab Emirates, Qatar, Turkey, etc. Additionally, for the proper execution of these projects, medium voltage transformers are required for almost all applications. Thus, growing urbanization and industrialization will drive the medium voltage transformer market growth in the MEA region.

Medium Voltage Transformer Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global medium voltage transformer market. Few examples of key players in themedium voltage transformer market are Siemens AG, ABB Group, General Electric Company, Fuji Electric Co., Ltd., Hitachi, Ltd., Schneider Electric SE, Eaton Corporation PLC, Mitsubishi Electric Corporation, Jinpan International USA Ltd., CG Power & Industrial Solutions Ltd., Fortune Electric Co., Ltd., Schaffner Holding AG, Hammond Power Solutions Inc., Kirloskar Electric Company, and MGM Transformer Company, Amran Inc., among others.

For instance, medium voltage transformer manufacturers are focusing on providing compact size and environmental-friendly medium voltage transformers. The compact size can better manage moisture and thermal stress, and their average life span is higher. Additionally, eco-friendly transformers promise lower load loss as compared to other conventional transformers. Therefore, the rising demand for lighter, smaller and eco-friendly medium voltage transformers is likely to shape the future of the medium voltage transformers market.

Access Full Report: https://www.futuremarketinsights.com/reports/medium-voltage-transformers-market

Comments

Post a Comment

Popular posts from this blog

Industrial Relay Market Competitive Growth Strategies Based on Type, Applications, End User and Region

In order to protect the equipment from high voltages and fault currents relays are used to isolate the equipment from the system. Relay sense the input voltage if it reaches the peak voltage called threshold limit it controls the input voltage if the input voltage exceeds the peak voltage limit it will trigger a signal to circuit breaker. Circuit breaker is a device used to make or break the circuit from the live to protect the complete system from short circuits. Get | Download Sample Copy with Graphs & List of Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-5158 Industrial relays are essential to protect the equipment in the system. Several relays operate in industrial applications such as SSR solid state relay, Electro-mechanical relay, overload protection relay, latching relay and other relays. Solid state relay (SSR) switching is completely electronic base where as in electromechanical, operation completely based on opening and closing moving contacts ...
Read more

Platform Lifts Market: Notable Developments & Geographical Outlook

Market: Introduction Platform lifts are primarily designed to give reasonably priced access to people who have difficulty with a staircase. These platform lift are available in the market with different size and shape according to the application. Platform lifts are installed in low rise buildings where passenger lifts are not available. Each platform lifts has different advantage depending on the installed area and the functionality of the lift in the needed area. Platform lifts are used in both indoor and outdoor application in residential and commercial buildings. Segmentation of platform lifts is based on the installation platform such as vertical, inclined and portable platform; inclined platform lift has impeccable accessibility options in buildings with space constraints. Furthermore, vertical platform lift ensure safety and secure access in vertical direction, however portable platform lifts are simple and easy to use accessibility options. Platform lifts provide access to di...
Read more

Chemical Anchors Market Size, Top Key Players, Latest Trends, Regional Insights and Global Industry Dynamics By 2021

Chemical Anchors Market: Introduction Chemical Anchoring is a process or technique for fastening the cement, concrete & the similar substrates that offer an increased level of flexibility & load bearing capacity. In numerous end use sectors mechanical & chemical anchoring is getting adopted in the very large scale but the later one i.e. chemical anchoring is gaining more adoption when compared to the mechanical anchoring. In chemical anchoring technique, a polymeric resin is introduced inside the hole prior to enclosure of the steel or iron stud. With this process, the chemical resin naturally fills or seals in all voids & irregularities and consequently convert the hole airtight, with efficient adhesion. Get | Download Sample Copy with Graphs & List of Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-7955 Chemical Anchors Market: Market Dynamics Due to its substantial properties such as an ability to drill down in imperfect holes, prot...
Read more