“The industrial control transformer market is projected to grow at a CAGR of 5.14% from 2018 to 2023”
The industrial control transformer market is projected to grow from USD 809.2 million in 2018 to USD 1,039.8 million by 2023, at a CAGR of 5.14%, from 2018 to 2023. Increased usage of industrial control transformers across major industries, booming power sector and augmented power generation capacities worldwide, and need to reduce equipment failure caused by frequent voltage spikes are driving the industrial control transformer market across the world. On the contrary, stagnant growth of the oil & gas industry; a slowdown in the mining industry in Asia Pacific, South America, and Africa; dependency of other devices for voltage regulation, and gray market providing low-quality & cheap substitute products could hinder the market growth to certain extent.
“The metals and mining segment is expected to hold the largest share of the industrial control transformer market, by end-user, during the forecast period”
As per the World Steel Organization statistics, the steel output grew from 1,560 million tons in 2012 to 1,630 million tons in 2016. Industrial control transformers in steel manufacturing regulate voltage in various processes such as a furnace for heating the steel and for cooling the rolled steel. In the mining industry, industrial control transformers have a wide application in compressors, motors, mills, drills, and cranes, which are used for machines that require a relatively large amount of force.
“Asia Pacific: Key market for industrial control transformers”
Asia Pacific is the fastest growing industrial control transformer market during the forecast period due to the need for power infrastructure construction, mostly in China and India along with a rising concern for safety in electrical equipment, the need for industrial control transformers has increased considerably to prevent the equipment from any accidents.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.
The distribution of primary interviews is as follows:
- By Company Type: Tier 1-72%, Tier 2-13%, Tier 3-15%
- By Designation: C-Level-25%, D-Level-34%, Others-41%
- By Region: North America-12%, Asia Pacific-54%, Middle East & Africa-24%, RoW-10%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2016: Tier 1 = >USD 5 billion, Tier 2 = From USD 1 billion to USD 5 billion, and Tier 3 =
The leading players in the industrial control transformer market are ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Schneider (France), GE (US), Hubbell (US), Emerson (US), and Rockwell (US).
The report provides a picture of the industrial control transformer market across the power industry and regions. It aims at estimating the market size and future growth potential of the market across different segments such as phase, power rating, end-user, and region. Furthermore, the report also includes an in-depth competitive analysis of key players in the market along with their company profiles, recent developments, and key market strategies.
For the purpose of this report, the market has been segmented on the basis of phase, power rating, end-user, and region with a focus on industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together comprise and evaluate the basic views on the competitive landscape, emerging and high-growth segments of the industrial control transformer market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and product launches in the industrial control transformer market
Market Development: Comprehensive information about lucrative emerging markets; the report analyzes the markets for industrial control transformer across regions Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global industrial control transformer market
- The report identifies and addresses key markets for the implementation of industrial control transformers in the power industry, which would help manufacturers review the growth in demand.
The report helps solution providers understand the pulse of the market and provide insights into drivers, restraints, and challenges. The report will help key players understand the strategies of their competitors better and will help in the decision-making process.