Industrial Control Transformers Market
Industrial Control Transformers Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2028
Analysis of Industrial Control Transformers market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Industrial control transformers, also known as isolation transformation, have increased in popularity across a wide range of end-use industries, especially in the power generation industry.
The thriving global power industry has been generating significant demand for industrial control transformers in applications such as electromagnetic devices, solenoids, and relays.
Increasing power demand and installed power generation capacities across the world is expected to provide an impetus to the growth of the industrial control transformers market in the upcoming years.
Industrial Control Transformers Market – Notable Developments
- In November 2018, ABB – a Swiss-Swedish multinational corporation headquartered in Zurich – announced that it has launched a new dry-type digital transformer – ABB AbilityTM TXpertTM Dry, expanding its portfolio in the industrial control transformers market. The company also declared that the new industrial transformer is designed to work without oil and incorporated digital capabilities with smart sensors to collect data and derive automated analysis on lifecycle assessment, self-supervision, and power quality monitoring. With the launch of the new industrial transformer, the company aims to push technological boundaries and advance in the industrial control transformers market with reliable, efficient, and safer solutions.
- In April 2019, Eaton Corporation Inc. – an American multinational power management company – announced that it has acquired Ulusoy Elektrik Imalat Taahhut ve Ticaret A.S. – a Turkish manufacturer of industrial transformers and medium voltage electrical equipment – with over 82% controlling interest. With this acquisition, Eaton aims to strengthen its position in the industrial control transformers market by adding Ulusoy Elektrik’s product portfolio, which includes medium-voltage distribution transformers, medium-voltage cable connection systems, substation kiosks, and medium-voltage switchgear.
- In February 2019, Siemens AG – a German multinational conglomerate company and a leading player in the industrial control transformers market – introduced its on-demand mobile resilience transformer leasing offering, allowing utility suppliers and owners to lease its PRETACT®Plug & Play GSU Resilience Transformer for emergency response. As the GSU resilience transformer can be installed in an extremely short time, the innovative leaving offering by Siemens can offer asset owners the opportunity to provide a more reliable and secure power supply by leasing this critical equipment locally for quick installation.
- In January 2019, Electric Hammond Power Solutions (HPS) Inc. – a leading manufacturer of dry-type transformers in North America – announced the launch of an improved line of three phase encapsulated transformers—HPS Titan N, for industrial and harsh environments. The company also declared the improved features of HPS Titan N, including higher impedance, lower inrush current, improved thermal performance, and reduced equipment damage. In December 2018, the company declared its decision to discontinue and close its manufacturing facility in Marnate, Italy, due to mounting losses of the operation. The company announced that the decision to divest its Italian manufacturing facility was in line with its company strategy for 2019.
ABB, General Electric, Eaton Corporation Inc., Siemens, Emerson Electric Co., Dongan Electric Manufacturing Co., Hubbell, Schneider Electric, Electric Hammond Power Solutions (HPS), Broadman Transformers, Rockwell Automation, and MCI Transformers are among the key players in the industrial control transformers market.
Mandatory Compliance with International Standards Influences Manufacturing Strategies
The demand for industrial control transformers has remained significantly high a wide range of end-use industries, as the need for stepped down voltage is an important aspect for the seamless working of machine tool control devices in isolating control circuits.
However, governing bodies across the world, such as ANSI, IEEE, and NEMA, have developed regulations and standards that industrial control transformer manufacturers need to comply with.
Manufacturers in the industrial control transformers market are adopting strategies to ensure the compliance with international as well as local standards to gain an edge in the market.
For instance, in April 2019, HPS launched a new line of industrial control transformers, including energy-efficient drive isolation transformers and low- and medium-voltage distribution transformers and, to meet the latest energy efficiency regulations— NRCan regulation SOR/2018-201—in Canada.
Manufacturers Eye Lucrative Growth Opportunities in the Asia Pacific Region
With the increasing industrialization and recent growth in infrastructural developments in emerging countries in the Asia Pacific region, leading players in the industrial control transformers market are modifying their strategies to capitalize on the profitable sales opportunities in the region.
The power generation industry and the chemical industry has witnessed incremental growth in the Asia Pacific region, which is mainly attributed to the positive prospects of the industrial control transformers market in the region.
In addition, the favorable regulatory framework in the region is expected to contribute to the industrial growth, consequently, improving the sales potential for industrial control transformers in developing countries in the Asia Pacific region.
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Industrial control transformers market report covers exhaustive analysis on:
- Industrial control transformers market segments
- Industrial control transformers market dynamics
- Industrial control transformers market size
- Supply & Demand
- Current Trends/Issues/Challenges in industrial control transformers market
- Competition & Companies involved
- Value Chain
Industrial control transformers market regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The industrial control transformers market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report on industrial control transformers market provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with industrial control transformers market as per segments.
The report also maps the qualitative impact of various market factors on industrial control transformers market segments and geographies.
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Industrial Control Transformers Market Report Highlights:
- Detailed overview of parent industrial control transformers market
- Changing industrial control transformers market dynamics in the industry
- In-depth industrial control transformers market segmentation
- Historical, current and projected industrial control transformers market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on industrial control transformers market performance
- Must-have information for industrial control transformers market players to sustain and enhance their market footprint
Industrial Control Transformers Market – Segmentation
Based on the phase type analysis, the global industrial control transformer market is segmented into:
- Single Phase
- Three Phase
Based in the power rating analysis, the global industrial control transformer market is segmented into:
- 25-500 VA
- 500-1,000 VA
- 1,000-1,500 VA
- Above 1,500 VA
Based in the end-use industries, the global industrial control transformer market is segmented into:
- Metal and Mining
- Oil and Gas
- Power Generation
The research report on industrial control transformers market presents a comprehensive assessment of the industrial control transformers market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report on industrial control transformers market provides analysis and information according to industrial control transformers market segments such as geographies, application and industry.
- FAQs -
The industrial control transformers market is expected to have a CAGR of 5% during the forecast period.
The industrial control transformers market is expected to rise due to the wide range of end-use industries.
The Asia Pacific provides most opportunities in the industrial control transformers market.