Medium Voltage Transformer Market by Product and Geography - Forecast and Analysis 2022-2026

The medium voltage transformer market share is expected to surge to USD 3.76 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.92%. The medium voltage transformer market report also offers information on several market vendors, including ALCE Electric Industry and Trade Inc., Eaton Corp. Plc, EFACEC Power Solutions SGPS SA, Emerson Electric Co., General Electric Co., Hammond Power Solutions Inc., Hitachi Ltd., Hubbell Inc., Kirloskar Electric Co. Ltd., MGM Transformer Co., Ningbo Tianan Group Co. Ltd., Schneider Electric SE, Siemens AG, SMA Solar Technology AG, TWB SA, and WEG Equipamentos Eletricos SA among others. Furthermore, this report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this medium voltage transformer market research report extensively covers market segmentation by product (dry medium voltage transformers, oil-immersed medium voltage transformers, and VPI medium voltage transformers) and geography (APAC, North America, Europe, South America, and Middle East and Africa).

What will the Medium Voltage Transformer Market Size be During the Forecast Period?

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Medium Voltage Transformer Market: Key Drivers, Trends, and Challenges

The growing investments in electric power systems is notably driving the medium voltage transformer market growth, although factors such as poor financial health of the power sector in markets such as India and Pakistan may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the medium voltage transformer industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Medium Voltage Transformer Market Driver

One of the key factors driving the global medium voltage transformer market growth is the growing investments in electric power systems and in the development of smart grids. For instance, the US and Germany are expected to invest approximately USD 135 billion combined together in the development of smart grids by 2026. This is expected to increase the demand for medium voltage transformers during the forecast period. Power plants set up for captive use or grid-connected residential battery systems offload their excess electricity to regional distribution networks. Metering equipment is required because owners of these small-scale power plants are paid by the power utilities for supplying electricity to regional grids. Thus, medium voltage transformers are required for protective relays to protect electrical equipment and metering devices. Therefore, growing investments in renewable energy power generation plants and smart grids are expected to drive the growth of the global medium voltage transformer market during the forecast period.

Key Medium Voltage Transformer Market Trend

Use of 3D printing technology to manufacture transformers is one of the key medium voltage transformer market trends that is expected to impact the industry positively in the forecast period. This trend applies to the manufacturing of electrical equipment, including transformers. A few of the leading universities and research institutions have successfully manufactured transformer cores using 3D printing technology. Toroidal transformers are the most efficient. However, most of the transformers that are currently available are cubic in shape due to manufacturing cost constraints. But advances in 3D printing technology can significantly reduce the cost of producing transformers with complex shapes. Thus, the use of 3D printing technology to manufacture transformers will further support the market growth in the forecast years.

Key Medium Voltage Transformer Market Challenge

One of the key challenges to the global medium voltage transformer market growth is the poor financial health of the power sector in markets such as India and Pakistan. Electricity is considered essential for the economic development of any country. Thus, many emerging economies prefer not to charge their residents the market price of electricity. Governments keep tight control on electricity tariffs and try not to increase them in response to rising costs. The GDP debts in India and Pakistan have ballooned on account of losses incurred by power generation and distribution companies. Thus, a significant sum of money is spent on debt maintenance or servicing (interest payments).  Power distribution companies are responsible for expanding the electricity T&D network. This requires them to invest in medium voltage transformers for protecting and metering assets. Thus, such factors may limit the growth of the market during the forecast period.

This medium voltage transformer market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global medium voltage transformer market as a part of the global heavy electrical equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the medium voltage transformer market during the forecast period.

Who are the Major Medium Voltage Transformer Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• ALCE Electric Industry and Trade Inc.
• Eaton Corp. Plc
• EFACEC Power Solutions SGPS SA
• Emerson Electric Co.
• General Electric Co.
• Hammond Power Solutions Inc.
• Hitachi Ltd.
• Hubbell Inc.
• Kirloskar Electric Co. Ltd.
• MGM Transformer Co.
• Ningbo Tianan Group Co. Ltd.
• Schneider Electric SE
• Siemens AG
• SMA Solar Technology AG
• TWB SA
• WEG Equipamentos Eletricos SA

 

This statistical study of the medium voltage transformer market encompasses successful business strategies deployed by the key vendors. The medium voltage transformer market is fragmented and the vendors are deploying growth strategies such as technological innovation to compete in the market.

Product Insights and News

• Eaton Corp. Plc - The company offers medium voltage transformers that provide value and reliability, with a variety of options to increase system protection and environmental responsibility, and are available in standard and customizable designs to meet utility, commercial and industrial applications.
• Eaton Corp. Plc - Electrical Americas segment of the company offers electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and services that are primarily produced and sold in North and America.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The medium voltage transformer market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Medium Voltage Transformer Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the medium voltage transformer market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Medium Voltage Transformer Market?

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48% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for medium voltage transformers in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The significant increase in the demand for electricity from industries owing to large-scale investments in the manufacturing sector to cater to regional and export demand for consumer and industrial goods will facilitate the medium-voltage transformer market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of the COVID-19 pandemic in 2020 negatively affected the growth of the medium voltage transformer market in APAC. The world's two most populous countries, namely India and China, were among the severely affected countries by the pandemic. However, the initiation of mass COVID-19 vaccination drives and the lifting of lockdown-related restrictions in the first half of 2021 led to the resumption of industrial operations in the region. This, in turn, has led to a resurgence in demand for electricity since Q1 2021. Therefore, these factors are expected to foster the growth of the market during the forecast period.

What are the Revenue-generating Product Segments in the Medium Voltage Transformer Market?

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The medium voltage transformer market share growth by the dry medium voltage transformers segment will be significant during the forecast period. Dry medium voltage transformers are commonly used for the distribution of power in residential areas as well as for industrial and commercial purposes. The use of eco-friendly materials while upgrading and developing power infrastructure has gained prominence, which drives the global market for dry medium voltage transformers. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the medium voltage transformer market size and actionable market insights on post COVID-19 impact on each segment.

 

Medium Voltage Transformer Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 3.92%
Market growth 2022-2026	$ 3.76 billion
Market structure	Fragmented
YoY growth (%)	3.0
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 48%
Key consumer countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	ALCE Electric Industry and Trade Inc., Eaton Corp. Plc, EFACEC Power Solutions SGPS SA, Emerson Electric Co., General Electric Co., Hammond Power Solutions Inc., Hitachi Ltd., Hubbell Inc., Kirloskar Electric Co. Ltd., MGM Transformer Co., Ningbo Tianan Group Co. Ltd., Schneider Electric SE, Siemens AG, SMA Solar Technology AG, TWB SA, and WEG Equipamentos Eletricos SA
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Medium Voltage Transformer Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive medium voltage transformer market growth during the next five years
• Precise estimation of the medium voltage transformer market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the medium voltage transformer industry across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of medium voltage transformer market vendors

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