Three Phase Transformer Market Trends 2015 – 2023
Maximize asset utilization, existing transmission systems are often operated at stressed limits of their performance capability. With increasing cost pressures the utilities are seeking economical options for power transmission and distribution. Three phase transformers are much more economical than single phase transformers. Power loads arising from large industrial consumers and commercial complexes can be effectively met using three phase transformers as compared to single phase transformers. Substantial cost reduction can be achieved by installing these transformers in power applications. There is an increasing demand for reliable technology related to the management of power flow within the power systems. The installation of such systems allows the grid operator to manage the costs of power transmission in a better manner and utilize the infrastructure.
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With the increase in power generation from renewable sources the transmission grids are operating at maximum levels in many regions. Three phase transformers are crucial components in the ongoing strive for improved network efficiency. The market for three phase transformers is anticipated to grow at a substantial rate owing to need cost effective solutions in the power industry. Increasing power demand from industrial sector and need for cost efficient instruments in power distribution sector are the primary drivers bolstering investment in three phase transformer market. The three phase transformers allow heavy duty machineries to operate in an efficient manner as voltage can be transmitted for long distances using a small conductor. A single three phase transformer is much more economical than a bank of three single phase transformers. The increasing cost of standby units in three phase transformers and the inconvenience in maintenance are some of the major restraints impacting the growth of the market.
The three phase transformer can be segmented based on the method of construction as two core and single core. The method of construction can further be segmented on the basis of design as symmetrical design and asymmetrical design. To influence the power flow, a symmetrical design only alters the phase shift angle keeping voltage magnitude constant. Whereas, on the other hand an asymmetrical design alters the both the phase shift along with the voltage magnitude, to change the reactive power flow.
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Developing economies such as India, China, Russia, South-Africa and Brazil are likely to be attractive market for three phase transformers. With huge investments proposed in transmission sector and upcoming long-distance projects, these regions are anticipated to provide a major market for development of three phase transformers. Asia Pacific has planned large investments in transmission sector and upcoming long-distance projects; this region is anticipated to provide a major market for development of three phase transformer. Countries such as China and Japan have invested significant amounts for the development of this market. Latin American and Africa is also expected to boost investments in power sector which would further enhance investment in three phase transformer market. Many power infrastructure development projects are planned in these regions of the world. Power transmission and distribution infrastructure is also expanding in Middle East regions. Countries such as Kuwait are also anticipated provide growth opportunities to the three phase transformer market in future years.
Some of the major players investing in this market are Hitachi Corporation, Mitsubishi Corporation, Siemens AG, Areva SA, Moloney Electric Inc., Delta Transformers Pvt. Ltd., SNC Manufacturing Co, Inc., Eaton Corporation Plc., Powertronix Corporation, and Estel Company Limited.
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This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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