Oil Filled Transformers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Oil Filled Transformers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : June, 2021 | Energy & Mining

Report Digest


Global Oil Filled Transformers Market: Overview

The global market for oil filled transformers has been gaining increased traction in the face of the vast transformations seen in the power generation and distribution scenario as a number of renewable power sources become commercialized and pose the need for grid infrastructures that are more capable of incorporating them. As countries across the globe undertake measures of making renewables a larger part of their energy mixes, upgradation of electricity grids is underway. The scenario is fostering the global oil filled transformers market.

This report provides a detailed analytical account of the growth prospects of the global market for oil filled transformers over the period between 2018 and 2026. The market has been examined for key trends, growth drivers, challenges, and regulations in leading regional markets. Trends in terms of popular product varieties, technologies, and most profitable regional markets are included in the report. An account of the competitive dynamics of the market is also included to provide a much detailed account of how competition is shaping the face of the market.

Global Oil Filled Transformers Market: Trends and Opportunities

Some of the leading factors expected to work in favour of the global oil filled transformers market are the rising funds being diverted towards the modernization of electricity distribution infrastructure in developed economies and increased focus on the development of modern electricity transmission and distribution infrastructure in emerging economies. In developed economies across regions such as North America and Europe, investments towards the revitalization of the power sector, with the aim of making it more affordable, reliable, and flexible, have notably increased in the past few years. This can be attributed to the issues emerging due to aging of a significant portion of power grid and the need to incorporate new sources of power due to the rising production of electricity from renewables.

In emerging economies across regions such as Latin America and Asia Pacific, the rising demand for electricity owing to steadily increasing populations and the thriving industrial sectors are compelling governments to invest in the expansion of their grid infrastructures. Rising numbers of urban settings in emerging economies and the increased demand for efficient power transmission systems from the same are also leading to an increased consumption of electricity, which is, in turn, driving the market for oil filled transformers. Moreover, increased focus on the development of the transportation industry and the expansion of road and rail networks in emerging economies are also likely to work in favour of the market.

Global Oil Filled Transformers Market: Geographical and Competitive Dynamics

The report presents a detailed account of the growth prospects of the market in regions such as North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. Presently, the market in Asia Pacific accounts for the dominant share in the global oil filled transformers market owing to the vast rise in power infrastructure development activities and the rising demand for electricity from a thriving industrial sector. The rising population in urban settings and the consecutive rise in electricity have also worked well for the regional market. The Asia Pacific market is likely to exhibit promising growth prospects in the near future as well.

The markets in North America and Europe are also expected to promise healthy growth opportunities. Demand will be chiefly driven by the rise in grid modernization activities and focus on the development of renewable power networks. The market is expected to witness sluggish growth in regions such as Latin America and Middle East and Africa owing to the lack of modern grid infrastructure in these regions.

Some of the leading companies operating in the global oil filled transformers market are Eaton Corporation, ABB, Schneider Electric SA., EMCO Ltd., Kirloskar Electric Company Limited, Elsewedy Electric, Mitsubishi Electric Corporation, Siemens, Toshiba Corporation, and General Electric.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?