Gas Insulated Transformer - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Gas Insulated Transformer Market is accounted for $3.03 billion in 2019 and is expected to reach $5.09 billion by 2027 growing at a CAGR of 6.7% during the forecast period. Some of the key factors propelling the market growth include rising electrical network expenditure, increase in initiatives to improve electrification rate, growth in adoption of technologically advanced products, and increasing investments in the T&D sector. However, environmental regulations regarding the use of Sf6 and high cost of equipment are likely to hamper the market.
A gas insulated transformer is a non-explosive, non-flammable, and oil-free transformer. Gas insulated transformers operate on SF6 gas as a medium for cooling and insulation. When compared to oil transformers, these transformers are preferred for installations close to water sources. Various properties of the gas insulated transformers, such as no oil leakage risk, compact size, low spatial conditions, etc., are contributing to the increased popularity of the product.
By product type, the instrument transformers segment is anticipated to grow at the significant rate during the forecast period, due to the refurbishment of aging power infrastructure and huge investments in smart grids and energy systems. Instrument transformers are electrical machines that use the electromagnetic properties of alternating currents and ferromagnetic materials to produce voltage and current at different levels from those received as input. They are mainly used for measuring, protecting, and controlling circuits in substations and switchyards.
On the basis of geography, Asia Pacific region is expected to have considerable market growth during the forecast period, owing to the rise in investments in smart grid technologies and smart cities, along with the increase in the number of data centers, with a surge in IT hubs and commercial institutions. The countries such as China, Malaysia, Thailand, and Indonesia are increasing their power generation capacities to meet the elevating power demand.
Some of the key players in Gas Insulated Transformer Market include ABB, GE, Arteche, Fuji Electric, Nissan Electric, Chint Group, Toshiba, Mitsubishi Electric, Siemens, Takaoka Toko Co., Ltd., Yangzhou Power Electric Co., Ltd., Kharkovenergopribor Ltd., Meidensha, Hyosung Corporation, and Pascal Group of Companies.
Product Types Covered:
• Instrument Transformers
• Distribution Transformers
• Power Transformers
• Evaporative Cooling Gas Insulated Transformer
• SF6 Gas Insulated Transformer
• High Voltage (72.5 kV to 220 kV)
• Medium Voltage (Up to 72.5 kV)
• Extra High Voltage (Above 220 kV)
Transformer Types Covered:
Cooling Types Covered:
• Gas Directed Air Forced Cooling
• Gas Directed Water Forced Cooling
• Gas Directed Air Natural Cooling
• Full-insulated Transformers
• Semi-insulated Transformers
End Users Covered:
• Power Plant Use
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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