The Latest Transformer Industry Statistics Explained
The transformer industry is projected to reach USD 60.3 billion in 2030.
The statistic that the transformer industry is projected to reach USD 60.3 billion in 2030 indicates the expected total value of the industry’s output in terms of revenue by the end of the year 2030. This projection suggests a significant growth in the transformer industry, likely driven by factors such as increasing electrification, renewable energy initiatives, infrastructure development, and industrial expansion. The USD 60.3 billion figure serves as a forecasted benchmark for the industry’s performance and market size, providing valuable insights for businesses, investors, policymakers, and other stakeholders to make informed decisions and strategies in response to the expected growth and opportunities within the transformer market.
Asia-Pacific dominated the transformer market in 2019.
The statement ‘Asia-Pacific dominated the transformer market in 2019’ indicates that the Asia-Pacific region held a significant market share in the global transformer industry during the year 2019. This implies that a large portion of transformer production, consumption, and sales activities occurred within countries located in the Asia-Pacific region. The dominance suggests that Asia-Pacific countries likely had a competitive advantage, such as lower production costs, higher demand for transformers, or advanced technological capabilities, that allowed them to outperform other regions in the market. The statistic highlights the importance of the Asia-Pacific region in the transformer industry and its impact on global market trends and dynamics during the specified time period.
North America is expected to witness the highest growth rate of 10.3% in the transformer industry between 2020-2027.
The statistic suggests that the transformer industry in North America is projected to experience a substantial growth rate of 10.3% between the years 2020 and 2027. This indicates a notable increase in demand for transformers in the region during this period. Factors driving this growth could include advancements in technology, infrastructure development, increasing energy requirements, and environmental concerns. This growth rate is higher compared to other regions, reflecting a potentially favorable market environment and business opportunities for companies operating in the transformer industry in North America.
Manufacture of distribution transformers constitutes around 76% of the total production.
The statistic that the manufacture of distribution transformers constitutes around 76% of the total production indicates that a significant portion of the manufacturing output is dedicated to producing distribution transformers. This suggests that distribution transformers play a crucial role in the manufacturing sector and are in high demand. The high percentage also implies that there is a strong market for these products, potentially driven by factors such as infrastructure development, energy distribution needs, or technological advancements. Overall, this statistic highlights the importance and prominence of distribution transformers within the manufacturing industry.
China has emerged as the largest producer and consumer of electric transformers in the world.
This statistic highlights China’s dominant position in the global electric transformers industry, both in terms of production and consumption. The fact that China has emerged as the largest producer indicates its significant manufacturing capabilities and infrastructure for creating electric transformers. Additionally, being the largest consumer suggests a high demand for electric transformers within the country, potentially driven by industrial growth, urbanization, and increasing energy needs. This dual status as both the top producer and consumer underscores China’s central role in the global electric transformers market, influencing both supply and demand dynamics.
By 2025, India’s transformer industry’s export potential is projected to reach nearly USD 1 Bn.
The statistic states that India’s transformer industry is expected to achieve an export potential of around USD 1 billion by the year 2025. This projection suggests that the industry is anticipated to experience significant growth in terms of international trade, with the potential to generate substantial export revenue. Factors contributing to this optimistic outlook may include increasing demand for transformers globally, advancements in technology, competitive pricing strategies, favorable government policies, and improved market access. Achieving this export potential could strengthen India’s position in the global transformer market, enhance economic growth, create job opportunities, and boost the country’s trade balance.
The three-phase transformers held a share of over 67% in the global market in 2019.
The statistic “The three-phase transformers held a share of over 67% in the global market in 2019” indicates that three-phase transformers were dominant in the global market in 2019, constituting more than two-thirds (67%) of the total market share. This suggests that three-phase transformers were in high demand and widely used in various industries and applications worldwide during that year. The significant market share held by three-phase transformers implies their importance in electricity distribution and power systems due to their efficiency, reliability, and ability to handle higher power capacities compared to single-phase transformers.
The power transformer market is expected to grow at a compound annual growth rate of 8.0% from 2021 to 2028.
This statistic indicates that the power transformer market is projected to experience a steady and substantial expansion over the period from 2021 to 2028, with a compound annual growth rate (CAGR) of 8.0%. The CAGR signifies the average annual growth rate that the market is anticipated to achieve consistently over the specified time frame. This growth rate suggests that the demand for power transformers, which play a crucial role in electricity distribution and transmission systems, is expected to increase significantly due to various factors such as technological advancements, infrastructure development, and growing energy demands globally. Stakeholders in the power transformer industry can use this information to make informed decisions and strategic plans for capitalizing on the projected market growth.
In 2019, the industrial end-use segment accounted for the largest share in the transformer industry.
The statistic states that in 2019, the industrial end-use segment represented the largest portion of the transformer industry in terms of market share. This implies that industrial applications, such as manufacturing facilities, power plants, and other industrial settings, were the primary consumers of transformers during that time period. The significance of this statistic suggests the importance of industrial demand for transformers in 2019, likely driven by factors such as infrastructure development, expansion of industrial operations, and technological advancements in the industrial sector. Understanding this trend can provide valuable insights for transformer manufacturers, investors, and policymakers in planning and decision-making within the industry.
Over 2021-2026, the Transformer Monitoring System market is expected to have a CAGR of 11.4%.
This statistic indicates that from 2021 to 2026, the Transformer Monitoring System market is projected to grow at a Compound Annual Growth Rate (CAGR) of 11.4%. The CAGR reflects the year-over-year growth rate of the market over the specified period, providing a consistent measure of growth by accounting for compounding effects. In this case, a CAGR of 11.4% suggests a strong and steady expansion of the market for transformer monitoring systems, indicating increasing demand and adoption of these systems over the forecasted period. This growth rate can be used by investors, decision-makers, and industry stakeholders to assess the potential growth opportunities and make informed strategic decisions related to investments, resource allocation, and market positioning in the Transformer Monitoring System industry.
The global transformer oil market size was valued at $2,100.0 million in 2019.
The statistic indicates that the total value of the global market for transformer oil was $2,100.0 million in the year 2019. Transformer oil is a specialized type of oil used as a coolant and insulator in electrical transformers. The market size value represents the total revenue generated from the sale of transformer oil globally in that specific year. This statistic is important for understanding the economic significance and scale of the transformer oil industry, providing insights into the demand for this product and the overall health of the market. It can be used by industry analysts, investors, and policymakers to track market trends, make informed business decisions, and assess the potential for growth and investment opportunities within the transformer oil sector.
In Russia, transformer production increased by 12% in 2017.
The statement indicates that in the year 2017, the manufacturing and production of transformers in Russia witnessed a growth of 12% compared to the previous period. This 12% increase signifies a significant rise in the number of transformers produced within that year, suggesting a positive trend in the manufacturing sector. Such growth in transformer production may be indicative of increased demand for electrical equipment, infrastructure development, or technological advancements within the country. The statistic provides insight into the performance of the manufacturing industry in Russia and can be used to analyze trends, make projections, and assess the overall economic health of the sector.
Australia is also one of the important markets for transformers in the Asia Pacific and is expected to witness a CAGR of 7.7% from 2016 to 2024.
This statistic indicates that Australia plays a significant role in the transformer market within the Asia Pacific region and is projected to experience a Compound Annual Growth Rate (CAGR) of 7.7% from 2016 to 2024. This growth rate suggests a steady increase in the demand for transformers in Australia over the specified period. Factors such as infrastructure development, industrial expansion, and the integration of renewable energy sources are likely driving this growth in the transformer market. This statistic highlights Australia’s importance within the regional transformer industry and signifies potential business opportunities for transformer manufacturers and suppliers in the country.
Liquid-immersed transformers are expected to hold the largest share of the transformer market during forecast period.
This statistic suggests that liquid-immersed transformers are anticipated to dominate the transformer market and account for the highest market share in the foreseeable future. This forecast indicates that these types of transformers, which are filled with liquid dielectric material such as oil or silicone, are expected to be the preferred choice for consumers due to their efficiency, reliability, and performance. The larger market share held by liquid-immersed transformers may be attributed to factors such as their ability to handle high power loads, long lifespan, and suitability for a wide range of applications. Manufacturers and industry experts predict that the demand for liquid-immersed transformers will continue to grow, making them a key player in the transformer market.
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