Industrial Automation Magazine India

Asia Pacific Power Transformer Market to be at Forefront During 2020-2026

Published on : Monday 04-05-2020

Compact design, short circuit reliability and ease in transportation are some of the key parameters that will fuel the Asia Pacific shell-type power transformer demand.

According to the Graphical Research new growth forecast report titled “Asia Pacific Power Transformer Market Value to be at Forefront During 2020-2026. Asia Pacific Power Transformer Market Value is anticipated to witness an upsurge in demand on account of favourable government policies toward the adoption of renewable energy technologies and promoting low carbon emissions. Ongoing technological advancement toward digitisation of transformers will positively influence the product penetration. For instance, in 2018, ABB unveiled ‘ABB Ability power transformer’, which includes digital and plug & play capabilities along with real time data analytics and remote monitoring. Furthermore, growing inclination toward renewable integration across the power grid networks will complement the industry outlook.
 
Compact design, short circuit reliability and ease in transportation are some of the key parameters that will fuel the Asia Pacific shell-type power transformer demand across the region. Ability to sustain in extreme operating conditions in line with rapid deployment across critical nodes in HV transmission networks with high reliability requirements will propel the industry growth. In addition, high di-electric, thermal and mechanical performance coupled with improved control over leakage magnetic flux will complement the product adoption.
 
Pole mounted power transformer market is anticipated to witness significant adoption across limited grid accessibility to cater distant load transmission. Compact size and ease of installation on single and multi-pole structures are some of the key features which will boost the product adoption. Moreover, single pole structures ability to serve industrial, commercial and residential loads will complement the business growth.
 
Ongoing government efforts to complement existing transmission and distribution networks to meet the escalating energy demand will drive the Asia Pacific power transformer business outlook. Growing urbanization, increasing electrification rate along with government subsidies across the deployment of new transmission networks will propel the business growth. For instance, ADB authorised USD 300 million toward the extension of transmission lines and towers across Bangladesh in 2019.
 
100 MVA– 500 MVA power transformer market will witness an upsurge on account of low installation cost, compact design and growing electricity demand across power, oil & gas and healthcare industries. Rising deployment of these units across distribution, generating stations and substations for converting electrical energy to HV energy will further boost the industry growth. Furthermore, rising investment across smart infrastructure to cater the upcoming population demand along with retrofitting and revamping of longstanding transformers will complement the business growth.
 
Eminent players across the Asia Pacific power transformer market includes Siemens AG, ABB, BHEL, Toshiba, Schneider, Kirloskar Electric, Hammond Power Solutions, Voltamp, Hyundai Heavy Industries, General Electric, Crompton Greaves, and Hyosung. The companies are developing advanced technologies to meet the high competition prevailing in the industry.