Global Gas Insulated Transformer Market: Overview
A gas insulated transformer is a non-explosive, non-flammable, and oil-free transformer. Gas insulated transformers operate on SF6 gas as a medium for cooling and insulation. When compared to oil transformers, these transformers are preferred for installations close to water sources. Various properties of the gas insulated transformers, such as no oil leakage risk, compact size, low spatial conditions, etc., are contributing to the increased popularity of the product.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Global Gas Insulated Transformer Market: Growth Factors
The major growth driver in the global gas insulated transformer market is the rapid urbanization, as it leads to developed infrastructure and dependable networks of power transmissions and distributions. Other factors like the compact size of these transformers, low spatial conditions, and no risk related to oil leakages, etc. fuel the growth of the global gas insulated transformer market. The emphasis on adopting renewable sources of energy across the globe is on the rise. This further contributes to the increasing popularity of the market for the gas insulated transformer. There is an increased demand for medium voltage gas insulated transformers, as they are mostly used in industrial and commercial sites due to their non-explosive characteristics. In addition, rising investments for developing infrastructures related to power transmission and distribution is contributing to the increased demand for installations of gas insulated transformers.
High equipment costs and environment protection regulations, with respect to SF6’s use, are among some factors that might hinder the growth of the global gas insulated transformer market.
Global Gas Insulated Transformer Market: Segmentation
The global gas insulated transformer market can be divided based on type, voltage, end-user, and installation. Based on the type, the gas insulated transformer market can be divided into instrument transformers and power and distribution transformers, among others. On the basis of voltage, the gas insulated transformer market can be segmented into an extra high voltage (more than 220kV), high voltage (between 72.5kV and 220kV), and medium voltage (less than 72.5kV). Based on end-user, this market is divided into industrial, commercial, and utility. Utility segment is anticipated to hold the largest market share, due to increasing demand for dependable power supply and rising investments for developing power infrastructures. On the basis of installation, the gas insulated transformer market is segmented into indoor and outdoor.
Global Gas Insulated Transformer Market: Regional Analysis
Based on regions, the global market for gas insulated transformer can be divided into five main regions: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. In the Asia Pacific region, developing economies, like India and China, are experiencing increasing urbanization at a rapid pace. This, in turn, increases the need for developed infrastructure systems and stable networks of power transmission and distribution. Thus, this region will hold a substantial share in this market in the upcoming years. In the North American and European regions, the demand for renewable and efficient sources of energy is increasing, due to strict environment regulations made by the government. Thus, these regions are anticipated to show a good growth rate in this market in the upcoming years.
Global Gas Insulated Transformer Market: Competitive Players
The key market players of the global market for gas insulated transformer include GE, ABB, Toshiba, Mitsubishi Electric, Kharkovenergopribor Ltd., Arteche, Siemens, Fuji Electric, Chint Group, Meidensha, Nissan Group, Takaoka Toko, Yangzhou Power Electric, and Hyosung Corp., among several others.
Global Gas Insulated Transformer Market: Regional Segment Analysis
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