Gas Insulated Transformer Market to grow by USD 995.05 million from 2022 to 2027 | The growth of transmission and distribution (T&D) of power drives the market - Technavio

NEW YORK, Sept. 1, 2023 /PRNewswire/ -- The gas insulated transformer market size is estimated to grow by USD 995.05 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of  5%. The growth of transmission and distribution (T&D) of power is notably driving the market growth. APAC stands out as a pivotal region currently undergoing notable shifts in market focus. The process of urbanization, intrinsically intertwined with industrial development, is a catalyst for heightened construction activities in both residential and commercial sectors. India, marked by swift population growth and rising disposable income, showcases one of the world's swiftest urbanization rates. Discover some insights on market size historic period (2017 to 2021) and Forecast (2023 to 2027) before buying the full report -Request a sample report

Gas Insulated Transformer Market – Company Analysis
Vendor Landscape - The global gas insulated transformer market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer gas insulated transformers in the market are ABB Ltd., Arteche Lantegi Elkartea SA, China XD Group Co. Ltd., Fuji Electric Co. Ltd., General Electric Co., Hyosung Heavy Industries Corp., Kanohar Electricals Ltd., KharkovEnergoPribor Ltd., Kirloskar Electric Co. Ltd., Meidensha Corp., Mitsubishi Electric Corp., Nissin Electric Co. Ltd., Schneider Electric SE, Shihlin Electric and Engineering Corp., Siemens AG, Takaoka Toko Co. Ltd, Tatung Co., Toshiba Corp., Yangzhou Xinyuan Electric Co. Ltd, and Zhejiang CHINT Electrics Co. Ltd. and others.

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Company Offerings -

• ABB Ltd. - The company offers gas-insulated transformers such as ELK transformers. 
• Arteche Lantegi Elkartea SA - The company offers gas-insulated transformers such as the Arteche Hitachi Electric Instrument Transformer.
• China XD Group Co. Ltd. - The company offers gas-insulated transformers such as SF6 current transformers up to 1100kV.
• For details on the vendor and its offerings – Request a sample report

Gas Insulated Transformer Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on installation sites (indoor and outdoor) end-user (Utility, Industrial, and Commercial) and geography (APAC, North America, Europe, South America, and Middle East and Africa). 

• The indoor segment will account for a major share of the market's growth during the forecast period.  The installation of gas insulated transformers is gaining momentum among various commercial and industrial end-users, including power companies and hydroelectric power plants. This dynamic is set to drive substantial growth within this segment throughout the forecast period. The demand surge stems from both new installations and retrofit initiatives, propelled by the widespread expansion and retrofit undertakings within global transmission and reception sectors. Demand for gas insulated transformers is expected to be high during the forecast period. 

Geography Overview
By geography, the global gas insulated transformer market is segmented into APAC, North America, Europe, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global gas insulated transformer market.

• APAC is estimated to contribute 51% to the growth by 2027. Technavio's analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.  The APAC region experiences persistent robust demand for electricity, attributed to the escalating electricity consumption across the region. Significant countries like China and India are witnessing an upsurge in electricity consumption due to rapid urbanization and improving living standards. To ensure efficient electricity production and transmission, several public utility companies in this area have transitioned to being privately owned operators. This privatization of power generation has not only contributed to lowered electricity costs but has also heightened market competition within the power sector.

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report

Gas Insulated Transformer Market – Market Dynamics
Major challenges

The price volatility of raw materials is a significant challenge hindering the market growth.  Steel stands as the primary and crucial material in transformer production. Copper and aluminium constitute the other integral components of transformers and are employed as coatings for primary coils. Given the diverse end-users served by market vendors, such as utilities, they procure raw materials in various forms tailored to their specific needs. In the case of distribution transformers, amorphous material alloy finds use in the iron core, particularly for one and phosphorus, ammonium metal distribution transformers. Consequently, alterations in material costs may cascade down to influence distribution transformer expenses. The application of derivative active instruments presents a mechanism for mitigating risks stemming from price fluctuations. Nevertheless, the persistent spectre of high raw material costs, coupled with their inherent volatility, remains a persistent challenge for the market. This challenge is poised to exert a limiting effect on the growth trajectory of the gas insulated transformer market during the forecast period.

Driver, Trend and challenges are the factor of market dynamics that states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this Gas Insulated Transformer Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the gas insulated transformer market between 2023 and 2027
• Precise estimation of the gas insulated transformer market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the gas insulated transformer market across APAC, North America, Europe, South America, and the Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about companies 
• Comprehensive analysis of factors that will challenge the growth of gas insulated transformer market companies 

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Related Reports: 

The Current Transformer Market size is estimated to grow at a CAGR of 8% between 2022 and 2027 and the size of the market is forecast to increase by USD 422.01 million.  This report extensively covers market segmentation by type (oil immersed and dry type), application (switchgear and power transformers), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The increased demand for electricity from emerging economies is driving growth in the current transformer market. 

The liquid-immersed transformers (LIT) market is estimated to grow at a CAGR of 5.86% between 2022 and 2027. The size of the market is forecast to increase by USD 10.74 billion. This report extensively covers market segmentation by type (power transformers and distribution transformers), application (commercial power, residential power, and industrial power), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The size of the market is forecast to increase by USD 10.74 billion. The expansion of T&D driving the demand for LIT is the key factor driving the market growth.

Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End-user

7 Market Segmentation by Geography

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio