The gas insulated transformer global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Gas Insulated Transformer Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The gas insulated transformer market size has grown strongly in recent years. It will grow from $2.58 billion in 2023 to $2.74 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to grid modernization, increased urbanization, aging infrastructure, renewable energy integration, electrical loss reduction.
The gas insulated transformer market size is expected to see strong growth in the next few years. It will grow to $3.54 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to compact substations, electrification of transportation, resilience and grid reliability, energy storage integration, decentralized energy generation. Major trends in the forecast period include eco-friendly insulating gases, smart grid technologies, integration of voltage source converters, high-voltage direct current (hvdc), biodegradable insulating materials, flexible and smart transformers.
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Scope Of Gas Insulated Transformer Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Gas Insulated Transformer Market Overview
Market Drivers –
An increase in government initiatives is expected to propel the growth of the gas-insulated transformer market going forward. In order to meet the high energy demand, governments across the globe are investing in different energy plant initiatives. For instance, according to the Power Transformer News Report, in January 2022, the government of India constructed a new gas-insulated substation in Maharashtra, India. The substation has 300MW of capacity, which may be further expanded to 700MW, and it is supported by three separate sources and pathways. Therefore, the increasing initiatives in the construction of gas and power plants are driving the gas-insulated transformer market.
The gas insulated transformer market covered in this report is segmented –
1) By Type: Instrument Transformers, Power Transformers, Other Types
2) By Voltage: Medium Voltage (Up to 72.5 kV), High Voltage (72.5 kV to 220 kV), Extra High Voltage (Above 220 kV)
3) By Installation: Indoor, Outdoor
4) By End User: Industrial, Commercial, Other End Users
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Regional Insights –
North America was the largest region in the gas-insulated transformer market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gas insulated transformer market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the gas insulated transformer market include Takaoka Toko Co. Ltd., Arteche Group, Bharat Heavy Electricals Limited, Chint Group Co. Ltd., General Electric Company, Hyosung Corporation, KharkovEnergoPribor Ltd., Meidensha Corporation, Mitsubishi Electric Corporation, Nissin Electric Co. Ltd., Shihlin Electric & Engineering Corp., Siemens AG, Tatung Company, Toshiba Corporation, Yangzhou Power Electric Co. Ltd., ABB Ltd., BTW Inc., Chem Group Inc., Chint Group Corp., Eaton Corporation plc, Elsewedy Electric Co. S.A.E., Fuji Electric Co. Ltd., Hitachi Ltd., Hyundai Heavy Industries Co. Ltd., Hyosung Heavy Industries Corp., Larsen & Toubro Limited, Mistras Group Inc., Ormazabal Velatia S.L., Powell Industries Inc., Schneider Electric SE, Trench Group, UGL Pty Limited, Alstom SA, CG Power and Industrial Solutions Limited, Efacec Power Solutions, GE Grid Solutionsv
Table of Contents
1. Executive Summary
2. Gas Insulated Transformer Market Characterstics
3. Gas Insulated Transformer Market Trends And Strategies
4. Gas Insulated Transformer Market – Macro Economic Scenario
5. Global Gas Insulated Transformer Market Size And Growth
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31. Global Gas Insulated Transformer Market Competitive Benchmarking
32. Global Gas Insulated Transformer Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Gas Insulated Transformer Market
34. Gas Insulated Transformer Market Future Outlook and Potential Analysis
35. Appendix
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