Industrial Control Transformer - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Industrial Control Transformer Market is accounted for $790.45 million in 2019 and is expected to reach $1,368.33 million by 2027 growing at a CAGR of 7.1% during the forecast period. Some of the key factors propelling the growth of the market are growing power sector, equipment failure in various industries due to frequent voltage spikes, and rapid urbanization. However, the sluggish growth of the oil & gas industry is the restraining factor for the growth of the market.
Industrial control transformers are specially designed for industrial applications that require relays, solenoids, and other electromagnetic devices. They provide good voltage regulation and a high degree of secondary voltage stability during a brief period of the overload condition. These transformers are generally customized according to the requirement of the end-user.
By phase type, the three-phase segment is expected to grow at a significant market share during the forecast period because it provides better efficiency in industrial applications as compared to the single-phase segment. Based on geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to industrialization and infrastructural developments taking place in the major economies like China and India.
Some of the key players in Industrial Control Transformer Market include Rockwell Automation, Siemens Energy & Automation Inc, MCI Transformers, Emerson Electric Co, ABB, Toshiba Corporation, Schneider Electric, Bharat Heavy Electricals Limited, Mitsubishi Electric Corporation, Eaton, Crompton Greaves Limited, Hyundai Heavy Industries Co Ltd, Hubbell, SNC Manufacturing Co Ltd, Hammond Power Solutions Inc, Foster Transformer Company, Broadman Transformers, and Procon Controls.
Power Ratings Covered:
• Above 1,500 VA
• 1,000-1,500 VA
• 500-1,000 VA
• 25-500 VA
Phase Types Covered:
• Three Phase
• Single Phase
End Users Covered:
• Oil & Gas
• Power Generation
• Metal & Mining
• Other End Users
• 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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